Related papers: MAD-DAG: Protecting Blockchain Consensus from MEV
This paper develops a formal game-theoretic model to examine how protocol mutability disrupts cooperative mining behaviour in blockchain systems. Using a repeated game framework with stochastic rule shocks, we show that even minor…
We study an adversary who attacks a Proof-of-Work (POW) blockchain by selfishly constructing an alternative longest chain. We characterize optimal strategies employed by the adversary when a difficulty adjustment rule al\`a Bitcoin applies.…
Decentralized Finance (DeFi), propelled by Blockchain technology, has revolutionized traditional financial systems, improving transparency, reducing costs, and fostering financial inclusion. However, transaction activities in these systems…
Different types of malicious activities have been flagged in multiple permissionless blockchains such as bitcoin, Ethereum etc. While some malicious activities exploit vulnerabilities in the infrastructure of the blockchain, some target its…
Blockchain-based cryptocurrencies secure a decentralized consensus protocol by incentives. The protocol participants, called miners, generate (mine) a series of blocks, each containing monetary transactions created by system users. As…
The unique properties of blockchain enable central requirements of distributed secure logging: Immutability, integrity, and availability. Especially when providing transparency about data usages, a blockchain-based secure log can be…
Security incidents such as scams and hacks, have become a major threat to the health of the blockchain ecosystem, causing billions of dollars in losses each year for blockchain users. To reveal the real-world entities behind the…
Collective Investment Algorithms (CoinAlgs) are increasingly popular systems that deploy shared trading strategies for investor communities. Their goal is to democratize sophisticated -- often AI-based -- investing tools. We identify and…
Smart contracts are stateful programs deployed on blockchains; they secure over a trillion dollars in transaction value per year. High-stakes smart contracts often rely on timely alerts about external events, but prior work has not analyzed…
Maximal Extractable Value (MEV) has become a critical issue for blockchain ecosystems, as it enables validators or block proposers to extract value by ordering, including or censoring users' transactions. This paper aims to present a formal…
We develop a model of stable assets, including non-custodial stablecoins backed by cryptocurrencies. Such stablecoins are popular methods for bootstrapping price stability within public blockchain settings. We derive fundamental results…
Bitcoin is the first secure decentralized electronic currency system. However, it is known to be inefficient due to its proof-of-work (PoW) consensus algorithm and has the potential hazard of double spending. In this paper, we aim to reduce…
We propose a new, more potent attack on decentralized exchanges. This attack leverages absolute commitments, which are commitments that can condition on the strategies made by other agents. This attack allows an adversary to charge monopoly…
Residential microgrids (MGs) may host a large number of Distributed Energy Resources (DERs). The strategy that maximizes the revenue for each individual DER is the one in which the DER operates at capacity, injecting all available power…
The applicability of process mining techniques hinges on the availability of event logs capturing the execution of a business process. In some use cases, particularly those involving customer-facing processes, these event logs may contain…
Many applications, e.g., digital twins, rely on sensing data from Internet of Things (IoT) networks, which is used to infer event(s) and initiate actions to affect an environment. This gives rise to concerns relating to data integrity and…
Bitcoin is a "crypto currency", a decentralized electronic payment scheme based on cryptography. Bitcoin economy grows at an incredibly fast rate and is now worth some 10 billions of dollars. Bitcoin mining is an activity which consists of…
Mining fairness in blockchain refers to equality between the computational resources invested in mining and the block rewards received. There exists a dilemma wherein increasing the transaction processing capacity of a blockchain…
Recently, permissioned blockchain has been extensively explored in various fields, such as asset management, supply chain, healthcare, and many others. Many scholars are dedicated to improving its verifiability, scalability, and performance…
Blockchain plays a crucial role in ensuring the security and integrity of decentralized systems, with the proof-of-work (PoW) mechanism being fundamental for achieving distributed consensus. As PoW blockchains see broader adoption, an…