3 Search Results for "Saa, Olivia"

Document
DOI: 10.4230/LIPIcs.DISC.2025.5
DAG It Off: Latency Prefers No Common Coins

Authors: Ignacio Amores-Sesar, Viktor Grøndal, Adam Holmgård, and Mads Ottendal

Published in: LIPIcs, Volume 356, 39th International Symposium on Distributed Computing (DISC 2025)

Abstract
We introduce Black Marlin, the first Directed Acyclic Graph (DAG)-based Byzantine atomic broadcast protocol in a partially synchronous setting that successfully forgoes the reliable broadcast and common coin primitives. Black Marlin achieves the optimal latency of 3 rounds of communication (4.25 with Byzantine faults) while maintaining optimal communication and amortized communication complexities. We present a formal security analysis of the protocol, accompanied by empirical evidence that Black Marlin outperforms state-of-the-art DAG-based protocols in both throughput and latency.
Cite as

Ignacio Amores-Sesar, Viktor Grøndal, Adam Holmgård, and Mads Ottendal. DAG It Off: Latency Prefers No Common Coins. In 39th International Symposium on Distributed Computing (DISC 2025). Leibniz International Proceedings in Informatics (LIPIcs), Volume 356, pp. 5:1-5:17, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (2025)

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@InProceedings{amoressesar_et_al:LIPIcs.DISC.2025.5,
  author =	{Amores-Sesar, Ignacio and Gr{\o}ndal, Viktor and Holmg\r{a}rd, Adam and Ottendal, Mads},
  title =	{{DAG It Off: Latency Prefers No Common Coins}},
  booktitle =	{39th International Symposium on Distributed Computing (DISC 2025)},
  pages =	{5:1--5:17},
  series =	{Leibniz International Proceedings in Informatics (LIPIcs)},
  ISBN =	{978-3-95977-402-4},
  ISSN =	{1868-8969},
  year =	{2025},
  volume =	{356},
  editor =	{Kowalski, Dariusz R.},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops.dagstuhl.de/entities/document/10.4230/LIPIcs.DISC.2025.5},
  URN =		{urn:nbn:de:0030-drops-248221},
  doi =		{10.4230/LIPIcs.DISC.2025.5},
  annote =	{Keywords: Atomic broadcast, DAG-based, Partial synchrony}
}
Document
DOI: 10.4230/LIPIcs.AFT.2025.22
Single-Token vs Two-Token Blockchain Tokenomics

Authors: Aggelos Kiayias, Philip Lazos, and Paolo Penna

Published in: LIPIcs, Volume 354, 7th Conference on Advances in Financial Technologies (AFT 2025)

Abstract
We study long-term equilibria that arise in the token monetary policy, or tokenomics, design of proof-of-stake (PoS) blockchain systems that engage utility maximizing users and validators. Validators are system maintainers who get rewarded with tokens for performing the work necessary for the system to function properly, while users compete and pay with such tokens for getting a desired portion of the system service. We study how the system service provision and suitable rewards schemes together can lead to equilibria with the following desirable characteristics (1) viability: the system keeps parties engaged, (2) decentralization and skin-in-the-game: multiple sufficiently invested validators are participating, (3) stability: the price path of the underlying token used to transact with the system does not change widely over time, and (4) feasibility: the mechanism is easy to implement as a smart contract, e.g., it does not require a fiat reserve on-chain to perform token buybacks or to perform bookkeeping of exponentially growing token holdings. Our analysis enables us to put forward a novel generic mechanism for blockchain monetary policy that we call quantitative rewarding (QR). We investigate how to implement QR in single-token and two-token proof of stake (PoS) blockchain systems. The latter are systems that utilize one token for the users to pay the transaction fees and a different token for the validators to participate in the PoS protocol and get rewarded. Our approach demonstrates a concrete advantage of the two-token setting in terms of the ability of the QR mechanism to be realized effectively and provide good equilibria. Our analysis also reveals an inherent limitation of the single token setting in terms of implementing an effective blockchain monetary policy - a distinction that is, to the best of our knowledge, highlighted for the first time.
Cite as

Aggelos Kiayias, Philip Lazos, and Paolo Penna. Single-Token vs Two-Token Blockchain Tokenomics. In 7th Conference on Advances in Financial Technologies (AFT 2025). Leibniz International Proceedings in Informatics (LIPIcs), Volume 354, pp. 22:1-22:22, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (2025)

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@InProceedings{kiayias_et_al:LIPIcs.AFT.2025.22,
  author =	{Kiayias, Aggelos and Lazos, Philip and Penna, Paolo},
  title =	{{Single-Token vs Two-Token Blockchain Tokenomics}},
  booktitle =	{7th Conference on Advances in Financial Technologies (AFT 2025)},
  pages =	{22:1--22:22},
  series =	{Leibniz International Proceedings in Informatics (LIPIcs)},
  ISBN =	{978-3-95977-400-0},
  ISSN =	{1868-8969},
  year =	{2025},
  volume =	{354},
  editor =	{Avarikioti, Zeta and Christin, Nicolas},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops.dagstuhl.de/entities/document/10.4230/LIPIcs.AFT.2025.22},
  URN =		{urn:nbn:de:0030-drops-247412},
  doi =		{10.4230/LIPIcs.AFT.2025.22},
  annote =	{Keywords: Blockchain, tokenomics, buyback, equilibria, price path, stable price, discounted game, dual-token, proof-of-stake, validator}
}
Document
DOI: 10.4230/OASIcs.Tokenomics.2020.8
Parasite Chain Detection in the IOTA Protocol

Authors: Andreas Penzkofer, Bartosz Kusmierz, Angelo Capossele, William Sanders, and Olivia Saa

Published in: OASIcs, Volume 82, 2nd International Conference on Blockchain Economics, Security and Protocols (Tokenomics 2020)

Abstract
In recent years several distributed ledger technologies based on directed acyclic graphs (DAGs) have appeared on the market. Similar to blockchain technologies, DAG-based systems aim to build an immutable ledger and are faced with security concerns regarding the irreversibility of the ledger state. However, due to their more complex nature and recent popularity, the study of adversarial actions has received little attention so far. In this paper we are concerned with a particular type of attack on the IOTA cryptocurrency, more specifically a Parasite Chain attack that attempts to revert the history stored in the DAG structure, also called the Tangle. In order to improve the security of the Tangle, we present a detection mechanism for this type of attack. In this mechanism, we embrace the complexity of the DAG structure by sampling certain aspects of it, more particularly the distribution of the number of approvers. We initially describe models that predict the distribution that should be expected for a Tangle without any malicious actors. We then introduce metrics that compare this reference distribution with the measured distribution. Upon detection, measures can then be taken to render the attack unsuccessful. We show that due to a form of the Parasite Chain that is different from the main Tangle it is possible to detect certain types of malicious chains. We also show that although the attacker may change the structure of the Parasite Chain to avoid detection, this is done so at a significant cost since the attack is rendered less efficient.
Cite as

Andreas Penzkofer, Bartosz Kusmierz, Angelo Capossele, William Sanders, and Olivia Saa. Parasite Chain Detection in the IOTA Protocol. In 2nd International Conference on Blockchain Economics, Security and Protocols (Tokenomics 2020). Open Access Series in Informatics (OASIcs), Volume 82, pp. 8:1-8:18, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (2021)

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@InProceedings{penzkofer_et_al:OASIcs.Tokenomics.2020.8,
  author =	{Penzkofer, Andreas and Kusmierz, Bartosz and Capossele, Angelo and Sanders, William and Saa, Olivia},
  title =	{{Parasite Chain Detection in the IOTA Protocol}},
  booktitle =	{2nd International Conference on Blockchain Economics, Security and Protocols (Tokenomics 2020)},
  pages =	{8:1--8:18},
  series =	{Open Access Series in Informatics (OASIcs)},
  ISBN =	{978-3-95977-157-3},
  ISSN =	{2190-6807},
  year =	{2021},
  volume =	{82},
  editor =	{Anceaume, Emmanuelle and Bisi\`{e}re, Christophe and Bouvard, Matthieu and Bramas, Quentin and Casamatta, Catherine},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops.dagstuhl.de/entities/document/10.4230/OASIcs.Tokenomics.2020.8},
  URN =		{urn:nbn:de:0030-drops-135306},
  doi =		{10.4230/OASIcs.Tokenomics.2020.8},
  annote =	{Keywords: Distributed ledger technology, cryptocurrency, directed acyclic graph, security, attack detection algorithm}
}
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