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Participation in permissionless blockchains results in competition over system resources, which needs to be controlled with fees. Ethereum's current fee mechanism is implemented via a first-price auction that results in unpredictable fees…

计算机科学与博弈论 · 计算机科学 2021-06-08 Stefanos Leonardos , Barnabé Monnot , Daniël Reijsbergen , Stratis Skoulakis , Georgios Piliouras

A transaction fee mechanism (TFM) is an essential component of a blockchain protocol. However, a systematic evaluation of the real-world impact of TFMs is still absent. Using rich data from the Ethereum blockchain, the mempool, and…

综合经济学 · 经济学 2025-08-11 Yulin Liu , Yuxuan Lu , Kartik Nayak , Fan Zhang , Luyao Zhang , Yinhong Zhao

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…

计算机科学与博弈论 · 计算机科学 2023-04-13 Aggelos Kiayias , Elias Koutsoupias , Philip Lazos , Giorgos Panagiotakos

Sealed-bid auctions play a crucial role in blockchain ecosystems. Previous works introduced viable blockchain sealed-bid auction protocols, leveraging timed commitments for bid encryption. However, a crucial challenge remains unresolved in…

计算机科学与博弈论 · 计算机科学 2024-10-15 Jichen Li , Yuanchen Tang , Jing Chen , Xiaotie Deng

Maximal extractable value (MEV) in which block proposers unethically gain profits by manipulating the order in which transactions are included within a block, is a key challenge facing blockchains such as Ethereum today. Left unchecked, MEV…

密码学与安全 · 计算机科学 2024-05-16 Yifan Mao , Mengya Zhang , Shaileshh Bojja Venkatakrishnan , Zhiqiang Lin

Blockchains have popularized automated market makers (AMMs). An AMM exchange is an application running on a blockchain which maintains a pool of crypto-assets and automatically trades assets with users governed by some pricing function that…

计算机科学与博弈论 · 计算机科学 2025-09-16 T-H. Hubert Chan , Ke Wu , Elaine Shi

Demand for blockchains such as Bitcoin and Ethereum is far larger than supply, necessitating a mechanism that selects a subset of transactions to include "on-chain" from the pool of all pending transactions. This paper investigates the…

密码学与安全 · 计算机科学 2023-12-27 Tim Roughgarden

A blockchain, during its lifetime, records large amounts of data, that in a common usage its kept on its entirety. In a robotics environment, the old information is useful for human evaluation, or oracles interfacing with the blockchain but…

机器人学 · 计算机科学 2019-05-15 Miguel Fernandes , Luís A. Alexandre

Gasper, the consensus protocol currently employed by Ethereum, typically requires 64 to 95 slots -- the units of time during which a new chain extending the previous one by one block is proposed and voted -- to finalize. This means that…

分布式、并行与集群计算 · 计算机科学 2024-11-04 Francesco D'Amato , Roberto Saltini , Thanh-Hai Tran , Luca Zanolini

Blockchain enables peer-to-peer transactions in cyberspace without a trusted third party. The rapid growth of Ethereum and smart contract blockchains generally calls for well-designed Transaction Fee Mechanisms (TFMs) to allocate limited…

综合经济学 · 经济学 2023-05-05 Luyao Zhang , Fan Zhang

Fourteen years after the invention of Bitcoin, there has been a proliferation of many permissionless blockchains. Each such chain provides a public ledger that can be written to and read from by anyone. In this multi-chain world, a natural…

密码学与安全 · 计算机科学 2023-05-16 Ertem Nusret Tas , Runchao Han , David Tse , Fisher Yu , Kamilla Nazirkhanova

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…

密码学与安全 · 计算机科学 2022-09-27 Ayelet Lotem , Sarah Azouvi , Patrick McCorry , Aviv Zohar

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…

计算机科学与博弈论 · 计算机科学 2023-06-30 Bruno Mazorra , Nicolás Della Penna

Transactions involving multiple blockchains are implemented by cross-chain protocols. These protocols are based on smart contracts, programs that run on blockchains, executed by a network of computers. Because smart contracts can…

分布式、并行与集群计算 · 计算机科学 2022-05-09 Ritam Ganguly , Yingjie Xue , Aaron Jonckheere , Parker Ljung , Benjamin Schornstein , Borzoo Bonakdarpour , Maurice Herlihy

The Binary Vector Clock is a simple, yet space-efficient algorithm for generating a partial order of transactions in account-based blockchain systems. The Binary Vector Clock solves the problem of order dependency in systems such as…

分布式、并行与集群计算 · 计算机科学 2020-04-17 Lum Ramabaja

A problem of developing the consensus protocols in public blockchain systems which spend a combination of energy and space resources is addressed. A technique is proposed that provides a flexibility for selection of the energy and space…

密码学与安全 · 计算机科学 2019-11-19 Miodrag J. Mihaljevic

In response to the European Commission's aim of cutting carbon emissions by 2050, there is a growing need for cutting-edge solutions to promote low-carbon energy consumption in public infrastructures. This paper introduces a Proof of…

密码学与安全 · 计算机科学 2024-03-14 Renan Lima Baima , Iván Abellán Álvarez , Ivan Pavić , Emanuela Podda

Blockchain technology has emerged as a revolutionary tool in ensuring data integrity and security in digital transactions. However, the current approaches to data verification in blockchain systems, particularly in Ethereum, face challenges…

密码学与安全 · 计算机科学 2024-04-11 Oleksandr Kuznetsov , Alex Rusnak , Anton Yezhov , Dzianis Kanonik , Kateryna Kuznetsova , Stanislav Karashchuk

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…

密码学与安全 · 计算机科学 2024-04-09 Jonah Burian

Blockchains protect an ecosystem worth more than $500bn with strong security properties derived from the principle of decentralization. Is today's blockchain decentralized? In this paper, we empirically studied one of the least…

密码学与安全 · 计算机科学 2025-05-01 Sen Yang , Kartik Nayak , Fan Zhang