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In this paper we discuss how conventional business contracts can be converted into smart contracts---their electronic equivalents that can be used to systematically monitor and enforce contractual rights, obligations and prohibitions at run…
Cryptocurrencies redefined how money can be stored and transferred among users. However, independent of the amount being sent, public blockchain-based cryptocurrencies suffer from high transaction waiting times and fees. These drawbacks…
Blockchains are decentralized and immutable databases that are shared among the nodes of the network. Although blockchains have attracted a great scale of attention in the recent years by disrupting the traditional financial systems, the…
Decentralized autonomous organizations (DAOs) are a recent innovation in organizational structures, which are already widely used in the blockchain ecosystem. We empirically study the on-chain governance systems of 21 DAOs and open source…
Blockchain systems run consensus rules as code to agree on the state of the distributed ledger and secure the network. Changing these rules can be risky and challenging. In addition, it can often be controversial and take much effort to…
Tax incentives and fiscal bonuses have had a significant impact on the Italian economy over the past decade. In particular, the "Superbonus 110" tax relief in 2020, offering a generous 110% deduction for expenses related to energy…
Credit allows a lender to loan out surplus capital to a borrower. In the traditional economy, credit bears the risk that the borrower may default on its debt, the lender hence requires upfront collateral from the borrower, plus interest fee…
A cryptocurrency is a decentralized digital currency that is designed for secure and private asset transfer and storage. As a currency, it should be difficult to counterfeit and double-spend. In this paper, we review and analyze the major…
Blockchain offers a decentralized, immutable, transparent system of records. It offers a peer-to-peer network of nodes with no centralised governing entity making it unhackable and therefore, more secure than the traditional paper-based or…
Smart contracts are cryptographic protocols that are enforced without a judiciary. Smart contracts are used occasionally in Bitcoin and are prevalent in Ethereum. Public quantum money improves upon cash we use today, yet the current…
Numerous electronic cash schemes have been proposed over the years - however none have been embraced by financial institutions as an alternative to fiat currency. David Chaum's ecash scheme was the closest to something that mimicked a…
Reentrancy is a well-known source of smart contract bugs on Ethereum, leading e.g. to double-spending vulnerabilities in DeFi applications. But less is known about this problem in other blockchains, which can have significantly different…
While many distributed consensus protocols provide robust liveness and consistency guarantees under the presence of malicious actors, quantitative estimates of how economic incentives affect security are few and far between. In this paper,…
Opening up data produced by the Internet of Things (IoT) and mobile devices for public utilization can maximize their economic value. Challenges remain in the trustworthiness of the data sources and the security of the trading process,…
As adoption of blockchain-based systems grows, more attention is being given to privacy of these systems. Early systems like BitCoin provided few privacy features. As a result, systems with strong privacy guarantees, including Monero,…
Decentralized Finance (DeFi) is a system of financial products and services built and delivered through smart contracts on various blockchains. In the past year, DeFi has gained popularity and market capitalization. However, it has also…
Cryptoassets such as cryptocurrencies and tokens are increasingly traded on decentralized exchanges. The advantage for users is that the funds are not in custody of a centralized external entity. However, these exchanges are prone to…
Bitcoin uses blockchain technology to maintain transactions order and provides probabilistic guarantee to prevent double-spending, assuming that an attacker's computational power does not exceed %50 of the network power. In this paper, we…
In this work, we investigate how the governance features of a managed currency (e.g., a fiat currency) can be built into a cryptocurrency in order to leverage potential benefits found in the use of blockchain technology and smart contracts.…
In this paper, we identify a new form of attack, called the Balance attack, against proof-of-work blockchain systems. The novelty of this attack consists of delaying network communications between multiple subgroups of nodes with balanced…