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We present efficient protocols for amortized secure multiparty computation with penalties and secure cash distribution, of which poker is a prime example. Our protocols have an initial phase where the parties interact with a cryptocurrency…
We develop a model of coordination and allocation of decentralized multi-sided markets, in which our theoretical analysis is promisingly optimizing the decentralized transaction packaging process at high-throughput blockchains or Web 3.0…
The problem of obtaining secret commitments from multiple parties and revealing them after a certain time is useful for sealed-bid auctions, games, and other applications. Existing solutions, dating back to Rivest, Shamir and Wagner, either…
The security of Bitcoin protocols is deeply dependent on the incentives provided to miners, which come from a combination of block rewards and transaction fees. As Bitcoin experiences more halving events, the protocol reward converges to…
Optimistic rollups rely on fraud proofs -- interactive protocols executed on Ethereum to resolve conflicting claims about the rollup's state -- to scale Ethereum securely. To mitigate against potential censorship of protocol moves, fraud…
Bitcoin-NG, a scalable blockchain protocol, divides each block into a key block and many micro blocks to effectively improve the transaction processing capacity. Bitcoin-NG has a special incentive mechanism (i.e. splitting transaction fees…
Mining processes of Bitcoin and similar cryptocurrencies are currently incentivized with voluntary transaction fees and fixed block rewards which will halve gradually to zero. In the setting where optional and arbitrary transaction fee…
We study an auction with $m$ identical items in a context where $n$ agents can arbitrarily commit to strategies. In general, such commitments non-trivially change the equilibria by inducing a metagame of choosing which strategies to commit…
Ethereum is a permissionless blockchain ecosystem that supports execution of smart contracts, the key enablers of decentralized finance (DeFi) and non-fungible tokens (NFT). However, the expressiveness of Ethereum smart contracts is a…
The advent of Ethereum 2.0 has introduced significant changes, particularly the shift to Proof-of-Stake consensus. This change presents new opportunities and challenges for arbitrage. Amidst these changes, we introduce BriDe Arbitrager, a…
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…
Rollups have become the de facto scalability solution for Ethereum, securing more than $55B in assets. They achieve scale by executing transactions on a Layer 2 ledger, while periodically posting data and finalizing state on the Layer 1,…
We describe and analyze perishing mining, a novel block-withholding mining strategy that lures profit-driven miners away from doing useful work on the public chain by releasing block headers from a privately maintained chain. We then…
As large language models (LLMs) grow more capable, they face growing vulnerability to sophisticated jailbreak attacks. While developers invest heavily in alignment finetuning and safety guardrails, researchers continue publishing novel…
Proof-of-Work mining is intended to provide blockchains with robustness against double-spend attacks. However, an economic analysis that follows from Budish (2018), which considers free entry conditions together with the ability to rent…
Block-chain world is very dynamic and there is need for strong governance and underlying technology architecture to be robust to face challenges. This paper considers Ethereum, a leading block chain. We deep dive into the nature of this…
We study the incentives behind double-spend attacks on Nakamoto-style Proof-of-Work cryptocurrencies. In these systems, miners are allowed to choose which transactions to reference with their block, and a common strategy for selecting…
Blockchain systems, such as Ethereum, are increasingly adopting layer-2 scaling solutions to improve transaction throughput and reduce fees. One popular layer-2 approach is the Optimistic Rollup, which relies on a mechanism known as a…
Sharding is a way to address scalability problem in blockchain technologies. Ethereum, a prominent blockchain technology, has included sharding in its roadmap to increase its throughput. The plan is also to include multiple execution…
Although blockchain, the supporting technology of Bitcoin and various cryptocurrencies, has offered a potentially effective framework for numerous applications, it still suffers from the adverse affects of the impossibility triangle.…