Related papers: Determining Blockchain Transaction Timing and Fee …
We develop a general and practical framework to address the problem of the optimal design of dynamic fee mechanisms for multiple blockchain resources. Our framework allows to compute policies that optimally trade-off between adjusting…
Blockchain systems come with the promise of being inclusive for a variety of decentralized applications (DApps) that can serve different purposes and have different urgency requirements. Despite this, the transaction fee mechanisms…
We propose a model suggesting that honest-but-rational consensus participants may play timing games, and strategically delay their block proposal to optimize MEV capture, while still ensuring the proposal's timely inclusion in the canonical…
The recently proposed Transaction Fee Mechanism (TFM) literature studies the strategic interaction between the miner of a block and the transaction creators (or users) in a blockchain. In a TFM, the miner includes transactions that maximize…
Blockchains have block-size limits to ensure the entire cluster can keep up with the tip of the chain. These block-size limits are usually single-dimensional, but richer multidimensional constraints allow for greater throughput. The…
Sharding is a promising technique for addressing the scalability issues of blockchain, and this technique is especially important for IoT, edge, or mobile computing. It divides the $n$ participating nodes into $s$ disjoint groups called…
Bitcoin has become the leading cryptocurrency system, but the limit on its transaction processing capacity has resulted in increased transaction fees and delayed transaction confirmation. As such, it is pertinent to understand and probably…
The Ethereum platform allows developers to implement and deploy applications called Dapps onto the blockchain for public use through the use of smart contracts. To execute code within a smart contract, a paid transaction must be issued…
In 2021 Ethereum adjusted the transaction pricing mechanism by implementing EIP-1559, which introduces the base fee - a network fee that is burned and dynamically adjusts to the network demand. The authors of the Ethereum Improvement…
This paper investigates how pricing schemes can achieve efficient allocations in blockchain systems featuring multiple transaction queues under a global capacity constraint. I model a capacity-constrained blockchain where users submit…
This study explores the intricacies of waiting games, a novel dynamic that emerged with Ethereum's transition to a Proof-of-Stake (PoS)-based block proposer selection protocol. Within this PoS framework, validators acquire a distinct…
This paper presents a comprehensive framework for transaction posting and pricing in Layer 2 (L2) blockchain systems, focusing on challenges stemming from fluctuating Layer 1 (L1) gas fees and the congestion issues within L2 networks.…
A payment channel network is a blockchain-based overlay mechanism that allows parties to transact more efficiently than directly using the blockchain. These networks are composed of payment channels that carry transactions between pairs of…
Sharding is a technique to speed up transaction processing in blockchains, where the $n$ processing nodes in the blockchain are divided into $s$ disjoint groups (shards) that can process transactions in parallel. We study dynamic scheduling…
Ethereum is one of the most popular platforms for the development of blockchain-powered applications. These applications are known as Dapps. When engineering Dapps, developers need to translate requests captured in the front-end of their…
Blockchains offer strong security gurarantees, but cannot protect users against the ordering of transactions. Players such as miners, bots and validators can reorder various transactions and reap significant profits, called the Maximal…
Atomic broadcasts play a central role in serialisable in-memory transactions. Best performing ones block, when a node crashes, until a new view is installed. We augment a new protocol for uninterrupted progress in the interim period.
The ``EIP-1599 algorithm'' is used by the Ethereum blockchain to assemble transactions into blocks. While prior work has studied it under the assumption that bidders are ``impatient'', we analyze it under the assumption that bidders are…
Contemporary blockchain such as Bitcoin and Ethereum execute transactions serially by miners and validators and determine the Proof-of-Work (PoW). Such serial execution is unable to exploit modern multi-core resources efficiently, hence…
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,…