Related papers: Certifying optimal MEV strategies with Lean
Decentralized Finance (DeFi) on Ethereum has undergone significant transformations since its emergence during the DeFi summer of 2020. With the introduction of Proof of Stake (PoS) and Proposer-Builder Separation (PBS), the transaction…
User transactions on Ethereum's peer-to-peer network are at risk of being attacked. The smart contracts building decentralized finance (DeFi) have introduced a new transaction ordering dependency to the Ethereum blockchain. As a result,…
Blockchains, and specifically smart contracts, have promised to create fair and transparent trading ecosystems. Unfortunately, we show that this promise has not been met. We document and quantify the widespread and rising deployment of…
The advent of smart contracts has enabled the rapid rise of Decentralized Finance (DeFi) on the Ethereum blockchain, offering substantial rewards in financial innovation and inclusivity. This growth, however, is accompanied by significant…
Most blockchains cannot hide the binary code of programs (i.e., smart contracts) running on them. To conceal proprietary business logic and to potentially deter attacks, many smart contracts are closed-source and employ layers of…
Hackers may create malicious solidity programs and deploy it in the Ethereum block chain. These malicious smart contracts try to attack legitimate programs by exploiting its vulnerabilities such as reentrancy, tx.origin attack, bad…
This paper discusses a decentralized finance (DeFi) application called MakerDAO. The Maker Protocol, built on the Ethereum blockchain, enables users to create and hold currency. Current elements of the Maker Protocol are the Dai stable…
We study a new "laminated" queueing model for orders on batched trading venues such as decentralised exchanges. The model aims to capture and generalise transaction queueing infrastructure that has arisen to organise MEV activity on public…
Automated Market Makers (AMMs) are an integral component of the decentralized finance (DeFi) ecosystem, as they allow users to exchange crypto-assets without the need for trusted authorities or external price oracles. Although these…
Decentralized finance (DeFi) has become one of the most successful applications of blockchain and smart contracts. The DeFi ecosystem enables a wide range of crypto-financial activities, while the underlying smart contracts often contain…
Consensus mechanism is the core technology for blockchain to ensure that transactions are executed in sequence. It also determines the decentralization, security, and efficiency of blockchain. Existing mechanisms all have certain…
Mobile Edge Computing (MEC) is a new computing paradigm that enables cloud computing and information technology (IT) services to be delivered at the network's edge. By shifting the load of cloud computing to individual local servers, MEC…
Blockchain security is threatened by selfish mining, where a miner (operator) deviates from the protocol to increase their revenue. Selfish mining is exacerbated by adverse conditions: rushing (network propagation advantage for the selfish…
In this work, we introduce the private, anonymous, collateralizable commitments (PACCs) framework. PACCs allow any smart contract wallet holder to collateralize a claim, request, or commitment in general, in a private and anonymous manner.…
Strategic mining attacks, such as selfish mining, exploit blockchain consensus protocols by deviating from honest behavior to maximize rewards. Markov Decision Process (MDP) analysis faces scalability challenges in modern digital economics,…
With the development of mobile edge computing (MEC) and blockchain-based federated learning (BCFL), a number of studies suggest deploying BCFL on edge servers. In this case, resource-limited edge servers need to serve both mobile devices…
Blockchain systems, such as Ethereum, use an approach called "metering" to assign a cost to smart contract execution, an approach which is designed to incentivise miners to operate the network and protect it against DoS attacks. In the…
Decentralized finance (DeFi) is known for its unique mechanism design, which applies smart contracts to facilitate peer-to-peer transactions. The decentralized bank is a typical DeFi application. Ideally, a decentralized bank should be…
The research designs a new integrated system for the security enhancement of a decentralized network by preventing damages from attackers, particularly for the 51 percent attack. The concept of multiple layered design based on Blockchain…
We describe a plausible probabilistic model for a blockchain queueing environment in which rational, profit-maximising schedulers impose adversarial disciplines on incoming messages containing a payload that encodes a state transition in a…