Related papers: MEV in Binance Builder
This paper addresses the lack of research on quantifying Maximal Extractable Value (MEV) on Ethereum Layer 2 networks (L2s). Our findings reveal a substantial amount of MEV to be extracted on L2s, particularly on Polygon, with a lower bound…
Blockchain is a technology that provides a distributed ledger that stores previous records while maintaining consistency and security. Bitcoin is the first and largest decentralized electronic cryptographic system that uses blockchain…
There is a resurgence of interest in Byzantine fault-tolerant (BFT) systems due to blockchains. However, leader-based BFT consensus protocols used by permissioned blockchains have limited scalability and robustness. To alleviate the leader…
Blockchain is rapidly emerging as an important class of network application, with a unique set of trust, security and transparency properties. In a blockchain system, participants record and update the `server-side' state of an application…
Blockchain platforms such as Ethereum and several others execute complex transactions in blocks through user-defined scripts known as smart contracts. To append a correct block into blockchain, miners execute these transactions of smart…
Immediate settlement, or single-slot finality (SSF), is a long-term goal for Ethereum. The growing active validator set size is placing an increasing computational burden on the network, making SSF more challenging. EIP-7251 aims to reduce…
Cryptographic Self-Selection is a common primitive underlying leader-selection for Proof-of-Stake blockchain protocols. The concept was first popularized in Algorand [CM19], who also observed that the protocol might be manipulable. [FHWY22]…
Transaction fee plays an important role in determining the priority of transaction processing in public blockchain systems. Owing to the observability of unconfirmed transactions, a strategic user can postpone his transaction broadcasting…
Residential prosumers with PV-battery systems increasingly manage their electricity exchange with the power grid to minimize costs. This study investigates the performance of Model Predictive Control (MPC) and Rule-Based Control (RBC) under…
Byzantine fault-tolerant consensus protocols have provable safety and liveness properties for static validator sets. In practice, however, the validator set changes over time, potentially eroding the protocol's security guarantees. For…
We present Egalitarian BFT (EBFT), a simple and high-performance framework of BFT consensus protocols for decentralized systems like blockchains. The key innovation in EBFT is egalitarian block generation: nodes randomly and…
This paper deals with dynamic Blind Source Extraction (BSE) from where the mixing parameters characterizing the position of a source of interest (SOI) are allowed to vary over time. We present a new source extraction model called CvxCSV…
Ethereum's transaction pool (mempool) dynamics and fee market efficiency critically affect transaction inclusion, validator workload, and overall network performance. This research empirically analyzes gas price variations, mempool…
This paper analyzes the Execution Tickets proposal on Ethereum Research, unveiling its potential to revolutionize the Ethereum blockchain's economic model. At the core of this proposal lies a novel ticketing mechanism poised to redefine how…
Blockchain has empowered computer systems to be more secure using a distributed network. However, the current blockchain design suffers from fairness issues in transaction ordering. Miners are able to reorder transactions to generate…
Selfish miners selectively withhold blocks to earn disproportionately high revenue. The vast majority of the selfish mining literature focuses exclusively on block rewards. Carlsten et al. [2016] is a notable exception, observing that…
We study the feasibility, profitability, and prevalence of sandwich attacks on Ethereum rollups with private mempools. First, we extend a formal model of optimal front- and back-run sizing, relating attack profitability to victim trade…
A hard-fork reconfiguration of the peer to peer Bitcoin network is described that substitutes tamper-evident logs and proof-of-stake consensus for proof-of-work consensus. The block creation rewards and transaction fees are reallocated to…
The distribution of consensus power is a cornerstone of decentralisation, influencing the security, resilience, and fairness of blockchain networks while ensuring equitable impact among participants. This study provides a rigorous…
The year 2024 witnessed a major development in the cryptocurrency industry with the long-awaited approval of spot Bitcoin exchange-traded funds (ETFs). This innovation provides investors with a new, regulated path to gain exposure to…