2 Search Results for "Bain, Alex"


Document
Designing Multidimensional Blockchain Fee Markets

Authors: Theo Diamandis, Alex Evans, Tarun Chitra, and Guillermo Angeris

Published in: LIPIcs, Volume 282, 5th Conference on Advances in Financial Technologies (AFT 2023)


Abstract
Public blockchains implement a fee mechanism to allocate scarce computational resources across competing transactions. Most existing fee market designs utilize a joint, fungible unit of account (e.g., gas in Ethereum) to price otherwise non-fungible resources such as bandwidth, computation, and storage, by hardcoding their relative prices. Fixing the relative price of each resource in this way inhibits granular price discovery, limiting scalability and opening up the possibility of denial-of-service attacks. As a result, many prominent networks such as Ethereum and Solana have proposed multidimensional fee markets. In this paper, we provide a principled way to design fee markets that efficiently price multiple non-fungible resources. Starting from a loss function specified by the network designer, we show how to dynamically compute prices that align the network’s incentives (to minimize the loss) with those of the users and miners (to maximize their welfare), even as demand for these resources changes. We derive an EIP-1559-like mechanism from first principles as an example. Our pricing mechanism follows from a natural decomposition of the network designer’s problem into two parts that are related to each other via the resource prices. These results can be used to efficiently set fees in order to improve network performance.

Cite as

Theo Diamandis, Alex Evans, Tarun Chitra, and Guillermo Angeris. Designing Multidimensional Blockchain Fee Markets. In 5th Conference on Advances in Financial Technologies (AFT 2023). Leibniz International Proceedings in Informatics (LIPIcs), Volume 282, pp. 4:1-4:23, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (2023)


Copy BibTex To Clipboard

@InProceedings{diamandis_et_al:LIPIcs.AFT.2023.4,
  author =	{Diamandis, Theo and Evans, Alex and Chitra, Tarun and Angeris, Guillermo},
  title =	{{Designing Multidimensional Blockchain Fee Markets}},
  booktitle =	{5th Conference on Advances in Financial Technologies (AFT 2023)},
  pages =	{4:1--4:23},
  series =	{Leibniz International Proceedings in Informatics (LIPIcs)},
  ISBN =	{978-3-95977-303-4},
  ISSN =	{1868-8969},
  year =	{2023},
  volume =	{282},
  editor =	{Bonneau, Joseph and Weinberg, S. Matthew},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops-dev.dagstuhl.de/entities/document/10.4230/LIPIcs.AFT.2023.4},
  URN =		{urn:nbn:de:0030-drops-191933},
  doi =		{10.4230/LIPIcs.AFT.2023.4},
  annote =	{Keywords: Blockchains, transaction fees, convex optimization, mechanism design}
}
Document
Invited Talk
A Domain-Specific Language for Computing on Encrypted Data (Invited Talk)

Authors: Alex Bain, John Mitchell, Rahul Sharma, Deian Stefan, and Joe Zimmerman

Published in: LIPIcs, Volume 13, IARCS Annual Conference on Foundations of Software Technology and Theoretical Computer Science (FSTTCS 2011)


Abstract
In cloud computing, a client may request computation on confidential data that is sent to untrusted servers. While homomorphic encryption and secure multiparty computation provide building blocks for secure computation, software must be properly structured to preserve confidentiality. Using a general definition of secure execution platform, we propose a single Haskell-based domain-specific language for cryptographic cloud computing and prove correctness and confidentiality for two representative and distinctly different implementations of the same programming language. The secret sharing execution platform provides information-theoretic security against colluding servers. The homomorphic encryption execution platform requires only one server, but has limited efficiency, and provides secrecy against a computationally-bounded adversary. Experiments with our implementation suggest promising computational feasibility, as cryptography improves, and show how code can be developed uniformly for a variety of secure cloud platforms, without explicitly programming separate clients and servers.

Cite as

Alex Bain, John Mitchell, Rahul Sharma, Deian Stefan, and Joe Zimmerman. A Domain-Specific Language for Computing on Encrypted Data (Invited Talk). In IARCS Annual Conference on Foundations of Software Technology and Theoretical Computer Science (FSTTCS 2011). Leibniz International Proceedings in Informatics (LIPIcs), Volume 13, pp. 6-24, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (2011)


Copy BibTex To Clipboard

@InProceedings{bain_et_al:LIPIcs.FSTTCS.2011.6,
  author =	{Bain, Alex and Mitchell, John and Sharma, Rahul and Stefan, Deian and Zimmerman, Joe},
  title =	{{A Domain-Specific Language for Computing on Encrypted Data}},
  booktitle =	{IARCS Annual Conference on Foundations of Software Technology and Theoretical Computer Science (FSTTCS 2011)},
  pages =	{6--24},
  series =	{Leibniz International Proceedings in Informatics (LIPIcs)},
  ISBN =	{978-3-939897-34-7},
  ISSN =	{1868-8969},
  year =	{2011},
  volume =	{13},
  editor =	{Chakraborty, Supratik and Kumar, Amit},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops-dev.dagstuhl.de/entities/document/10.4230/LIPIcs.FSTTCS.2011.6},
  URN =		{urn:nbn:de:0030-drops-33604},
  doi =		{10.4230/LIPIcs.FSTTCS.2011.6},
  annote =	{Keywords: Domain-Specific Language, Secret Sharing, Homomorphic Encryption}
}
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