Related papers: MEV in Multiple Concurrent Proposer Blockchains
Following the design of more efficient blockchain consensus algorithms, the execution layer has emerged as the new performance bottleneck of blockchains, especially under high contention. Current parallel execution frameworks either rely on…
Although the emergence of the programmable smart contract makes blockchain systems easily embrace a wider range of industrial areas, how to execute smart contracts efficiently becomes a big challenge nowadays. Due to the existence of…
Validators in permissionless, large-scale blockchains, such as Ethereum, are typically payoff-maximizing, rational actors. Ethereum relies on in-protocol incentives, like rewards for correct and timely votes, to induce honest behavior and…
Blockchain and blockchain-inspired decentralized applications are on the rise thanks to their unique characteristics such as their decentralized nature, anonymity, and tamper-proof nature; however, blockchain transactions tend to experience…
We study the following problem that is motivated by Blockchains where ``miners'' are serially given the monopoly for assembling transactions into the next block. Our model has a single good that is sold repeatedly every day where new demand…
Executing smart contracts is a compute and storage-intensive task, which currently dominates modern blockchain's performance. Given that computers are becoming increasingly multicore, concurrency is an attractive approach to improve…
Smart contracts, the cornerstone of blockchain technology, enable secure, automated distributed execution. Given their role in handling large transaction volumes across clients, miners, and validators, exploring concurrency is critical.…
Proof of work blockchain protocols using multiple hash types are considered. It is proven that the security region of such a protocol cannot be the AND of a 51\% attack on all the hash types. Nevertheless, a protocol called Merged Bitcoin…
Multi-Access edge computing (MEC) is an emerging paradigm where users offload computationally intensive jobs to the Access Point (AP). Given that the AP's resources are shared by selfish users, pricing is a useful tool for incentivising…
Traditional blockchain design gives miners or validators full control over transaction ordering, i.e., they can freely choose which transactions to include or exclude, as well as in which order. While not an issue initially, the emergence…
The lack of proper interoperability poses a significant challenge in leveraging use cases within the blockchain industry. Unlike typical solutions that rely on third parties such as oracles and witnesses, the interpool design operates as a…
As restaking protocols gain adoption across blockchain ecosystems, there is a need for Actively Validated Services (AVSs) to span multiple Shared Security Providers (SSPs). This leads to stake fragmentation which introduces new…
While blockchains initially gained popularity in the realm of cryptocurrencies, their widespread adoption is expanding beyond conventional applications, driven by the imperative need for enhanced data security. Despite providing a secure…
We investigate the market microstructure of Automated Market Makers (AMMs), the most prominent type of blockchain-based decentralized exchanges. We show that the order execution mechanism yields token value loss for liquidity providers if…
We propose a novel consensus protocol based on a hybrid approach, that combines a directed acyclic graph (DAG) and a classical chain of blocks. This architecture allows us to enforce collective block construction, minimising the…
We show that Execution Tickets and Execution Auctions dramatically increase centralization in the market for block proposals, even without multi-block MEV concerns. Previous analyses have insufficiently or incorrectly modeled the…
Modern blockchain applications benefit from the ability to specify sequencing constraints on the transactions that interact with them. This paper proposes a principled and axiomatically justified way of adding sequencing constraints on…
With the rise of cryptocurrencies, many new applications built on decentralized blockchains have emerged. Blockchains are full-stack distributed systems where multiple sub-systems interact. While many deployed blockchains and decentralized…
We initiate the study of transaction fee mechanism design for blockchain protocols in which multiple block producers contribute to the production of each block. Our contributions include: - We propose an extensive-form (multi-stage) game…
Bitcoin-NG is among the first blockchain protocols to approach the \emph{near-optimal} throughput by decoupling blockchain operation into two planes: leader election and transaction serialization. Its decoupling idea has inspired a new…