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The rapid growth of Blockchain and Decentralized Finance (DeFi) has introduced new challenges and vulnerabilities that threaten the integrity and efficiency of the ecosystem. This study identifies critical issues such as Transaction Order…

Blockchains are decentralized; are they genuinely? We analyze blockchain decentralization's often-overlooked but quantifiable dimension: geospatial distribution of transaction processing. Blockchains bring with them the potential for…

We analyze bribing attacks in Proof-of-Stake distributed ledgers from a game theoretic perspective. In bribing attacks, an adversary offers participants a reward in exchange for instructing them how to behave, with the goal of attacking the…

Blockchains offer a useful abstraction: a trustworthy, decentralized log of totally ordered transactions. Traditional blockchains have problems with scalability and efficiency, preventing their use for many applications. These limitations…

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…

While the literature features a number of proposals to defend against transaction manipulation attacks, existing proposals are still not integrated within large blockchains, such as Bitcoin, Ethereum, and Cardano. Instead, the user…

Modern blockchain systems are a fresh look at the paradigm of distributed computing, applied under assumptions of large-scale public networks. They can be used to store and share information without a trusted central party. There has been…

Systems and blockchains often have security vulnerabilities and can be attacked by adversaries, with potentially significant negative consequences. Therefore, infrastructure providers increasingly rely on bug bounty programs, where external…

In recent years, blockchain has gained widespread attention as an emerging technology for decentralization, transparency, and immutability in advancing online activities over public networks. As an essential market process, auctions have…

User transactions on Ethereum's peer-to-peer network are at risk of being attacked. The smart contracts building decentralized finance (DeFi) have introduced a new transaction ordering dependency to the Ethereum blockchain. As a result,…

This paper investigates the issue of fairness in Distributed Ledger Technology (DLT), specifically focusing on the shortcomings observed in current blockchain systems due to Miner Extractable Value (MEV) phenomena and systemic…

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…

Optimistic responsiveness -- the ability of a consensus protocol to operate at the speed of the network -- is widely used in consensus protocol design to optimize latency and throughput. However, blockchain applications incentivize…

Asset custody is a core financial service in which the custodian holds in-safekeeping assets on behalf of the client. Although traditional custody service is typically endorsed by centralized authorities, decentralized custody scheme has…

Blockchain has received tremendous attention in non-monetary applications including the Internet of Things (IoT) due to its salient features including decentralization, security, auditability, and anonymity. Most conventional blockchains…

A typical blockchain protocol uses consensus to make sure that mutually mistrusting users agree on the order in which their operations on shared data are executed. However, it is known that asset transfer systems, by far the most popular…

Technological advancement drives financial innovation, reshaping the traditional finance landscape and redefining user-market interactions. The rise of blockchain and Decentralized Finance (DeFi) underscores this intertwined evolution of…

Many cryptographic protocols are intended to coordinate state changes among principals. Exchange protocols coordinate delivery of new values to the participants, e.g. additions to the set of values they possess. An exchange protocol is fair…

Internet of Things (IoT) data are increasingly viewed as a new form of massively distributed and large scale digital assets, which are continuously generated by millions of connected devices. The real value of such assets can only be…

While online interactions and exchanges have grown exponentially over the past decade, most commercial infrastructures still operate through centralized protocols, and their success essentially depends on trust between different economic…