Related papers: The Blockchain Execution Dilemma: Optimizing Reven…
Process (or workflow) execution on blockchain suffers from limited scalability; specifically, costs in the form of transactions fees are a major limitation for employing traditional public blockchain platforms in practice. Research, so far,…
Blockchain technology is widely expected to reduce transaction costs by automating contract enforcement and eliminating intermediaries; yet, the execution costs imposed by network congestion have received little attention in the operations…
Hyperledger Fabric is a popular open-source project for deploying permissioned blockchains. Many performance characteristics of the latest Hyperledger Fabric, such as performance characteristics of each phase, the impacts of ordering…
Blockchain technology, with implications in the financial domain, offers data in the form of large-scale transaction networks. Analyzing transaction networks facilitates fraud detection, market analysis, and supports government regulation.…
Block-STM is a parallel execution engine for smart contracts, built around the principles of Software Transactional Memory. Transactions are grouped in blocks, and every execution of the block must yield the same deterministic outcome.…
Maximal Extractable Value (MEV) has emerged as a new frontier in the design of blockchain systems. In this paper, we propose making the MEV extraction rate as part of the protocol design space. Our aim is to leverage this parameter to…
In the blockchain-based, distributed computing platform Ethereum, programs called smart contracts are compiled to bytecode and executed on the Ethereum Virtual Machine (EVM). Executing EVM bytecode is subject to monetary fees---a clear…
Many prominent smart-contract applications such as payment channels, auctions, and voting systems often involve a mechanism in which some party must respond to a challenge or appeal some action within a fixed time limit. This pattern of…
Cooperation is fundamental for human prosperity. Blockchain, as a trust machine, is a cooperative institution in cyberspace that supports cooperation through distributed trust with consensus protocols. While studies in computer science…
Given the low throughput of blockchains like Bitcoin and Ethereum, scalability - the ability to process an increasing number of transactions - has become a central focus of blockchain research. One promising approach is the parallelization…
The multi-chain future is upon us. Modular architectures are coming to maturity across the ecosystem to scale bandwidth and throughput of cryptocurrency. One example of such is the Ethereum modular architecture, with its beacon chain, its…
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…
The main problem faced by smart contract platforms is the amount of time and computational power required to reach consensus. In a classical blockchain model, each operation is in fact performed by each node, both to update the status and…
In this paper, we represent the problem of selecting miners within a blockchain-based system as a subset selection problem. We formulate the problem of minimising blockchain energy consumption as an optimisation problem with two conflicting…
The evolution of blockchain technology, from its origins as a decentralized ledger for cryptocurrencies to its broader applications in areas like decentralized finance (DeFi), has significantly transformed financial ecosystems while…
Low transaction throughput and poor scalability are significant issues in public blockchain consensus protocols such as Bitcoins. Recent research efforts in this direction have proposed shard-based consensus protocols where the key idea is…
Leader-based protocols for consensus, i.e., atomic broadcast, allow some processes to unilaterally affect the final order of transactions. This has become a problem for blockchain networks and decentralized finance because it facilitates…
The telecommunications and financial services industries face substantial challenges in inter-operator settlement processes, characterized by extended reconciliation cycles, high transaction costs, and limited real-time transparency.…
Optimal execution, i.e., the determination of the most cost-effective way to trade volumes in continuous trading sessions, has been a topic of interest in the equity trading world for years. Electricity intraday trading slowly follows this…
This work is about optimal order execution, where a large order is split into several small orders to maximize the implementation shortfall. Based on the diversity of cryptocurrency exchanges, we attempt to extract cross-exchange signals by…