相关论文: Routed Closure: Rethinking Value Capture in Decent…
Decentralized finance (DeFi) has the potential to disrupt centralized finance by validating peer-to-peer transactions through tamper-proof smart contracts, thus significantly lowering the transaction cost charged by financial…
We investigate the market microstructure of Automated Market Makers (AMMs), the most prominent type of blockchain-based decentralized exchanges. We show that the order execution mechanism yields token value loss for liquidity providers if…
The limit order book mechanism has been the core trading mechanism of the modern financial market. In the cryptocurrency market, centralized exchanges also adopt this limit order book mechanism and a centralized matching engine dynamically…
In accordance with the guidelines of the Financial Action Task Force (FATF), Virtual Asset Service Providers (VASPs) should comply with a `travel rule', which requires them to exchange originator's and beneficiary's personal information…
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…
Many aspects of blockchain-based decentralized finance can be understood as an extension of classical distributed computing. In this paper, we trace the evolution of two interrelated notions: failure and fault-tolerance. In classical…
Data sharing is very important for accelerating scientific research, business innovations, and for informing individuals. Yet, concerns over data privacy, cost, and lack of secure data-sharing solutions have prevented data owners from…
Many large decentralized systems rely on information propagation to ensure their proper function. We examine a common scenario in which only participants that are aware of the information can compete for some reward, and thus informed…
The adoption of renewable energy resources, such as solar power, is on the rise. However, the excessive installation and lack of recycling facilities pose environmental risks. This paper suggests a circular economy approach to address the…
Play-to-earn is one of the prospective categories of decentralized applications. The play-to-earn projects combine blockchain technology with entertaining games and finance, attracting various participants. While huge amounts of capital…
Blockchains revolutionized centralized sectors like banking and finance by promoting decentralization and transparency. In a blockchain, information is transmitted through transactions issued by participants or applications. Miners…
A decade long thrive of cryptocurrency has shown its potential as a source of alternative-finance and the security and the robustness of the underpinning blockchain technology. However, most cryptocurrencies fail to show inimitability and…
Motivated by governance models adopted in blockchain applications, we study the problem of selecting appropriate system updates in a decentralised way. Contrary to most existing voting approaches, we use the input of a set of motivated…
In traditional banking, repeated deposit-and-lend cycles let a single dollar of reserves support multiple dollars of claims. Decentralized finance produces an analogous structure with tokens. Constructing a Token Graph of 10,200 tokens…
Transaction fee mechanism design is a new decentralized mechanism design problem where users bid for space on the blockchain. Several recent works showed that the transaction fee mechanism design fundamentally departs from classical…
This thesis provides an in-depth exploration of the Decentralized Co-governance Crowdfunding (DCC) Ecosystem, a novel solution addressing prevailing challenges in conventional crowdfunding methods faced by MSMEs and innovative projects.…
Blockchains and distributed ledger technology offer promising capabilities for supporting collaborative business processes across organizations. Typically, approaches in this field fall into two categories: either executing the entire…
Decentralized Finance (DeFi), a blockchain powered peer-to-peer financial system, is mushrooming. Two years ago the total value locked in DeFi systems was approximately 700m USD, now, as of April 2022, it stands at around 150bn USD. The…
I study a repeated auction in which payments are made with a blockchain token created and initially owned by the auction designer. Unlike the ``virtual money'' previously examined in mechanism design, such tokens can be saved and traded…
The problem of a single point of failure in centralized systems poses a great challenge to the stability of such systems. Meanwhile, the tamperability of data within centralized systems makes users reluctant to trust and use centralized…