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Volume

OASIcs, Volume 92

4th International Symposium on Foundations and Applications of Blockchain 2021 (FAB 2021)

FAB 2021, May 7, 2021, University of California, Davis, California, USA (Virtual Conference)

Editors: Vincent Gramoli and Mohammad Sadoghi

Document

DOI: 10.4230/LIPIcs.DISC.2025.2

On the Efficiency of Dynamic Transaction Scheduling in Blockchain Sharding

Authors: Ramesh Adhikari, Costas Busch, and Miroslav Popovic

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

Abstract

Sharding is a technique to speed up transaction processing in blockchains, where the n processing nodes in the blockchain are divided into s disjoint groups (shards) that can process transactions in parallel. We study dynamic scheduling problems on a shard graph G_s where transactions arrive online over time and are not known in advance. Each transaction may access at most k shards, and we denote by d the worst distance between a transaction and its accessing (destination) shards (the parameter d is unknown to the shards). To handle different values of d, we assume a locality sensitive decomposition of G_s into clusters of shards, where every cluster has a leader shard that schedules transactions for the cluster. We first examine the simpler case of the stateless model, where leaders are not aware of the current state of the transaction accounts, and we prove a O(d log² s ⋅ min{k, √s}) competitive ratio for latency. We then consider the stateful model, where leader shards gather the current state of accounts, and we prove a O(log s⋅ min{k, √s}+log² s) competitive ratio for latency. Each leader calculates the schedule in polynomial time for each transaction that it processes. We show that for any ε > 0, approximating the optimal schedule within a (min{k, √s})^{1 -ε} factor is NP-hard. Hence, our bound for the stateful model is within a poly-log factor from the best possibly achievable. To the best of our knowledge, this is the first work to establish provably efficient dynamic scheduling algorithms for blockchain sharding systems.

Cite as

Ramesh Adhikari, Costas Busch, and Miroslav Popovic. On the Efficiency of Dynamic Transaction Scheduling in Blockchain Sharding. In 39th International Symposium on Distributed Computing (DISC 2025). Leibniz International Proceedings in Informatics (LIPIcs), Volume 356, pp. 2:1-2:23, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (2025)

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@InProceedings{adhikari_et_al:LIPIcs.DISC.2025.2,
  author =	{Adhikari, Ramesh and Busch, Costas and Popovic, Miroslav},
  title =	{{On the Efficiency of Dynamic Transaction Scheduling in Blockchain Sharding}},
  booktitle =	{39th International Symposium on Distributed Computing (DISC 2025)},
  pages =	{2:1--2:23},
  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.2025.2},
  URN =		{urn:nbn:de:0030-drops-248191},
  doi =		{10.4230/LIPIcs.DISC.2025.2},
  annote =	{Keywords: Blockchain, Blockchain Sharding, Dynamic Transaction Scheduling}
}

Document

Brief Announcement

DOI: 10.4230/LIPIcs.DISC.2025.59

Brief Announcement: Carry the Tail in Consensus Protocols

Authors: Suyash Gupta, Dakai Kang, Dahlia Malkhi, and Mohammad Sadoghi

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

Abstract

We present Carry-the-Tail, the first deterministic atomic broadcast protocol in partial synchrony that, after GST, simultaneously guarantees two desirable properties: (i) a constant fraction of commits are proposed by non-faulty leaders against tail-forking attacks, and (ii) optimal, worst-case quadratic communication under a cascade of faulty leaders. The solution also guarantees linear amortized communication, i.e., the steady-state is linear. Combining these two desirable properties was not simultaneously achieved previously: on one hand, prior atomic broadcast solutions achieve per-view linear word communication complexity. However, they face a significant degradation in throughput under tail-forking attack. On the other hand, existing solutions to tail-forking attacks require either quadratic communication steps or computationally-prohibitive SNARK generation. The key technical contribution is Carry, a practical drop-in mechanism for streamlined protocols in the HotStuff family. Carry guarantees good performance against tail-forking and removes most leader-induced stalls, while retaining linear traffic and protocol simplicity. Carry-the-Tail implements the Carry mechanism on HotStuff-2.

Cite as

Suyash Gupta, Dakai Kang, Dahlia Malkhi, and Mohammad Sadoghi. Brief Announcement: Carry the Tail in Consensus Protocols. In 39th International Symposium on Distributed Computing (DISC 2025). Leibniz International Proceedings in Informatics (LIPIcs), Volume 356, pp. 59:1-59:7, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (2025)

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@InProceedings{gupta_et_al:LIPIcs.DISC.2025.59,
  author =	{Gupta, Suyash and Kang, Dakai and Malkhi, Dahlia and Sadoghi, Mohammad},
  title =	{{Brief Announcement: Carry the Tail in Consensus Protocols}},
  booktitle =	{39th International Symposium on Distributed Computing (DISC 2025)},
  pages =	{59:1--59:7},
  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.2025.59},
  URN =		{urn:nbn:de:0030-drops-248759},
  doi =		{10.4230/LIPIcs.DISC.2025.59},
  annote =	{Keywords: Consensus, Blockchain, BFT}
}

Document

DOI: 10.4230/LIPIcs.DISC.2025.42

Kudzu: Fast and Simple High-Throughput BFT

Authors: Victor Shoup, Jakub Sliwinski, and Yann Vonlanthen

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

Abstract

We present Kudzu, a high-throughput atomic broadcast protocol with an integrated fast path. Our contribution is based on the combination of two lines of work. Firstly, our protocol achieves finality in just two rounds of communication if all but p out of n = 3f + 2p + 1 participating replicas behave correctly, where f is the number of Byzantine faults that are tolerated. Due to the seamless integration of the fast path, even in the presence of more than p faults, our protocol maintains state-of-the-art characteristics. Secondly, our protocol utilizes the bandwidth of participating replicas in a balanced way, alleviating the bottleneck at the leader, and thus enabling high throughput. This is achieved by disseminating blocks using erasure codes. Despite combining a novel set of advantages, Kudzu is remarkably simple: intricacies such as "progress certificates", complex view changes, and speculative execution are avoided.

Cite as

Victor Shoup, Jakub Sliwinski, and Yann Vonlanthen. Kudzu: Fast and Simple High-Throughput BFT. In 39th International Symposium on Distributed Computing (DISC 2025). Leibniz International Proceedings in Informatics (LIPIcs), Volume 356, pp. 42:1-42:19, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (2025)

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@InProceedings{shoup_et_al:LIPIcs.DISC.2025.42,
  author =	{Shoup, Victor and Sliwinski, Jakub and Vonlanthen, Yann},
  title =	{{Kudzu: Fast and Simple High-Throughput BFT}},
  booktitle =	{39th International Symposium on Distributed Computing (DISC 2025)},
  pages =	{42:1--42:19},
  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.2025.42},
  URN =		{urn:nbn:de:0030-drops-248597},
  doi =		{10.4230/LIPIcs.DISC.2025.42},
  annote =	{Keywords: Consensus, Blockchain, Byzantine Fault Tolerance, Fast Path, State Machine Replication}
}

Document

Tool Paper

DOI: 10.4230/OASIcs.FMBC.2025.13

A Benchmark Framework for Byzantine Fault Tolerance Testing Algorithms (Tool Paper)

Authors: João Miguel Louro Neto and Burcu Kulahcioglu Ozkan

Published in: OASIcs, Volume 129, 6th International Workshop on Formal Methods for Blockchains (FMBC 2025)

Abstract

Recent discoveries of vulnerabilities in the design and implementation of Byzantine fault-tolerant protocols underscore the need for testing and exploration techniques to ensure their correctness. While there has been some recent effort for automated test generation for BFT protocols, there is no benchmark framework available to systematically evaluate their performance. We present ByzzBench, a benchmark framework designed to evaluate the performance of testing algorithms in detecting Byzantine fault tolerance bugs. ByzzBench is designed for a standardized implementation of BFT protocols and their execution in a controlled testing environment. It controls the nondeterminism in the concurrency, network, and process faults in the protocol execution, enabling the functionality to enforce particular execution scenarios and thereby facilitating the implementation of testing algorithms for BFT protocols.

Cite as

João Miguel Louro Neto and Burcu Kulahcioglu Ozkan. A Benchmark Framework for Byzantine Fault Tolerance Testing Algorithms (Tool Paper). In 6th International Workshop on Formal Methods for Blockchains (FMBC 2025). Open Access Series in Informatics (OASIcs), Volume 129, pp. 13:1-13:11, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (2025)

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@InProceedings{louroneto_et_al:OASIcs.FMBC.2025.13,
  author =	{Louro Neto, Jo\~{a}o Miguel and Kulahcioglu Ozkan, Burcu},
  title =	{{A Benchmark Framework for Byzantine Fault Tolerance Testing Algorithms}},
  booktitle =	{6th International Workshop on Formal Methods for Blockchains (FMBC 2025)},
  pages =	{13:1--13:11},
  series =	{Open Access Series in Informatics (OASIcs)},
  ISBN =	{978-3-95977-371-3},
  ISSN =	{2190-6807},
  year =	{2025},
  volume =	{129},
  editor =	{Marmsoler, Diego and Xu, Meng},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops.dagstuhl.de/entities/document/10.4230/OASIcs.FMBC.2025.13},
  URN =		{urn:nbn:de:0030-drops-230406},
  doi =		{10.4230/OASIcs.FMBC.2025.13},
  annote =	{Keywords: Byzantine Fault Tolerance, BFT Protocols, Automated Testing}
}

Document

DOI: 10.4230/LIPIcs.OPODIS.2024.7

Incentive Compatibility of Ethereum’s PoS Consensus Protocol

Authors: Ulysse Pavloff, Yackolley Amoussou-Guenou, and Sara Tucci-Piergiovanni

Published in: LIPIcs, Volume 324, 28th International Conference on Principles of Distributed Systems (OPODIS 2024)

Abstract

This paper investigates whether following the fork-choice rule in the Ethereum PoS consensus protocol constitutes a Nash equilibrium - i.e., whether the protocol that maintains the canonical chain in Ethereum is incentive-compatible. Specifically, we explore whether selfish participants may attempt to manipulate the fork-choice rule by forking out previous blocks and capturing the rewards associated with those blocks. Our analysis considers two strategies for participants: the obedient strategy, which adheres to the prescribed protocol, and the cunning strategy, which attempts to manipulate the fork-choice rule to gain more rewards. We evaluate the conditions under which selfish participants might deviate from the obedient strategy. We found that, in a synchronous system, following the prescribed fork-choice rule is incentive-compatible. However, in an eventually synchronous system, the protocol is eventually incentive-compatible - that is, only a limited number of proposers will find it profitable to fork the chain during the synchronous period. After this sequence of cunning proposers, subsequent proposers will find it more profitable to follow the protocol.

Cite as

Ulysse Pavloff, Yackolley Amoussou-Guenou, and Sara Tucci-Piergiovanni. Incentive Compatibility of Ethereum’s PoS Consensus Protocol. In 28th International Conference on Principles of Distributed Systems (OPODIS 2024). Leibniz International Proceedings in Informatics (LIPIcs), Volume 324, pp. 7:1-7:23, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (2024)

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@InProceedings{pavloff_et_al:LIPIcs.OPODIS.2024.7,
  author =	{Pavloff, Ulysse and Amoussou-Guenou, Yackolley and Tucci-Piergiovanni, Sara},
  title =	{{Incentive Compatibility of Ethereum’s PoS Consensus Protocol}},
  booktitle =	{28th International Conference on Principles of Distributed Systems (OPODIS 2024)},
  pages =	{7:1--7:23},
  series =	{Leibniz International Proceedings in Informatics (LIPIcs)},
  ISBN =	{978-3-95977-360-7},
  ISSN =	{1868-8969},
  year =	{2025},
  volume =	{324},
  editor =	{Bonomi, Silvia and Galletta, Letterio and Rivi\`{e}re, Etienne and Schiavoni, Valerio},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops.dagstuhl.de/entities/document/10.4230/LIPIcs.OPODIS.2024.7},
  URN =		{urn:nbn:de:0030-drops-225431},
  doi =		{10.4230/LIPIcs.OPODIS.2024.7},
  annote =	{Keywords: Ethereum PoS, Game Theory, Block Reward}
}

Document

Complete Volume

DOI: 10.4230/OASIcs.FAB.2021

OASIcs, Volume 92, FAB 2021, Complete Volume

Authors: Vincent Gramoli and Mohammad Sadoghi

Published in: OASIcs, Volume 92, 4th International Symposium on Foundations and Applications of Blockchain 2021 (FAB 2021)

Abstract

OASIcs, Volume 92, FAB 2021, Complete Volume

Cite as

4th International Symposium on Foundations and Applications of Blockchain 2021 (FAB 2021). Open Access Series in Informatics (OASIcs), Volume 92, pp. 1-96, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (2021)

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@Proceedings{gramoli_et_al:OASIcs.FAB.2021,
  title =	{{OASIcs, Volume 92, FAB 2021, Complete Volume}},
  booktitle =	{4th International Symposium on Foundations and Applications of Blockchain 2021 (FAB 2021)},
  pages =	{1--96},
  series =	{Open Access Series in Informatics (OASIcs)},
  ISBN =	{978-3-95977-196-2},
  ISSN =	{2190-6807},
  year =	{2021},
  volume =	{92},
  editor =	{Gramoli, Vincent and Sadoghi, Mohammad},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops.dagstuhl.de/entities/document/10.4230/OASIcs.FAB.2021},
  URN =		{urn:nbn:de:0030-drops-139857},
  doi =		{10.4230/OASIcs.FAB.2021},
  annote =	{Keywords: OASIcs, Volume 92, FAB 2021, Complete Volume}
}

Document

Front Matter

DOI: 10.4230/OASIcs.FAB.2021.0

Front Matter, Table of Contents, Preface, Conference Organization

Authors: Vincent Gramoli and Mohammad Sadoghi

Published in: OASIcs, Volume 92, 4th International Symposium on Foundations and Applications of Blockchain 2021 (FAB 2021)

Abstract

Front Matter, Table of Contents, Preface, Conference Organization

Cite as

4th International Symposium on Foundations and Applications of Blockchain 2021 (FAB 2021). Open Access Series in Informatics (OASIcs), Volume 92, pp. 0:i-0:viii, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (2021)

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@InProceedings{gramoli_et_al:OASIcs.FAB.2021.0,
  author =	{Gramoli, Vincent and Sadoghi, Mohammad},
  title =	{{Front Matter, Table of Contents, Preface, Conference Organization}},
  booktitle =	{4th International Symposium on Foundations and Applications of Blockchain 2021 (FAB 2021)},
  pages =	{0:i--0:viii},
  series =	{Open Access Series in Informatics (OASIcs)},
  ISBN =	{978-3-95977-196-2},
  ISSN =	{2190-6807},
  year =	{2021},
  volume =	{92},
  editor =	{Gramoli, Vincent and Sadoghi, Mohammad},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops.dagstuhl.de/entities/document/10.4230/OASIcs.FAB.2021.0},
  URN =		{urn:nbn:de:0030-drops-139865},
  doi =		{10.4230/OASIcs.FAB.2021.0},
  annote =	{Keywords: Front Matter, Table of Contents, Preface, Conference Organization}
}

Document

DOI: 10.4230/OASIcs.FAB.2021.1

Tenderbake - A Solution to Dynamic Repeated Consensus for Blockchains

Authors: Lăcrămioara Aştefănoaei, Pierre Chambart, Antonella Del Pozzo, Thibault Rieutord, Sara Tucci-Piergiovanni, and Eugen Zălinescu

Published in: OASIcs, Volume 92, 4th International Symposium on Foundations and Applications of Blockchain 2021 (FAB 2021)

Abstract

First-generation blockchains provide probabilistic finality: a block can be revoked, albeit the probability decreases as the block "sinks" deeper into the chain. Recent proposals revisited committee-based BFT consensus to provide deterministic finality: as soon as a block is validated, it is never revoked. A distinguishing characteristic of these second-generation blockchains over classical BFT protocols is that committees change over time as the participation and the blockchain state evolve. In this paper, we push forward in this direction by proposing a formalization of the Dynamic Repeated Consensus problem and by providing generic procedures to solve it in the context of blockchains. Our approach is modular in that one can plug in different synchronizers and single-shot consensus. To offer a complete solution, we provide a concrete instantiation, called {{Tenderbake}}, and present a blockchain synchronizer and a single-shot consensus algorithm, working in a Byzantine and partially synchronous system model with eventually synchronous clocks. In contrast to recent proposals, our methodology is driven by the need to bound the message buffers. This is essential in preventing spamming and run-time memory errors. Moreover, {{Tenderbake}} processes can synchronize with each other without exchanging messages, leveraging instead the information stored in the blockchain.

Cite as

Lăcrămioara Aştefănoaei, Pierre Chambart, Antonella Del Pozzo, Thibault Rieutord, Sara Tucci-Piergiovanni, and Eugen Zălinescu. Tenderbake - A Solution to Dynamic Repeated Consensus for Blockchains. In 4th International Symposium on Foundations and Applications of Blockchain 2021 (FAB 2021). Open Access Series in Informatics (OASIcs), Volume 92, pp. 1:1-1:23, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (2021)

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@InProceedings{astefanoaei_et_al:OASIcs.FAB.2021.1,
  author =	{A\c{s}tef\u{a}noaei, L\u{a}cr\u{a}mioara and Chambart, Pierre and Del Pozzo, Antonella and Rieutord, Thibault and Tucci-Piergiovanni, Sara and Z\u{a}linescu, Eugen},
  title =	{{Tenderbake - A Solution to Dynamic Repeated Consensus for Blockchains}},
  booktitle =	{4th International Symposium on Foundations and Applications of Blockchain 2021 (FAB 2021)},
  pages =	{1:1--1:23},
  series =	{Open Access Series in Informatics (OASIcs)},
  ISBN =	{978-3-95977-196-2},
  ISSN =	{2190-6807},
  year =	{2021},
  volume =	{92},
  editor =	{Gramoli, Vincent and Sadoghi, Mohammad},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops.dagstuhl.de/entities/document/10.4230/OASIcs.FAB.2021.1},
  URN =		{urn:nbn:de:0030-drops-139877},
  doi =		{10.4230/OASIcs.FAB.2021.1},
  annote =	{Keywords: Blockchain, BFT-Consensus, Dynamic Repeated Consensus}
}

Document

DOI: 10.4230/OASIcs.FAB.2021.2

Byzantine-Tolerant Distributed Grow-Only Sets: Specification and Applications

Authors: Vicent Cholvi, Antonio Fernández Anta, Chryssis Georgiou, Nicolas Nicolaou, Michel Raynal, and Antonio Russo

Published in: OASIcs, Volume 92, 4th International Symposium on Foundations and Applications of Blockchain 2021 (FAB 2021)

Abstract

In order to formalize Distributed Ledger Technologies and their interconnections, a recent line of research work has formulated the notion of Distributed Ledger Object (DLO), which is a concurrent object that maintains a totally ordered sequence of records, abstracting blockchains and distributed ledgers. Through DLO, the Atomic Appends problem, intended as the need of a primitive able to append multiple records to distinct ledgers in an atomic way, is studied as a basic interconnection problem among ledgers. In this work, we propose the Distributed Grow-only Set object (DSO), which instead of maintaining a sequence of records, as in a DLO, maintains a set of records in an immutable way: only Add and Get operations are provided. This object is inspired by the Grow-only Set (G-Set) data type which is part of the Conflict-free Replicated Data Types. We formally specify the object and we provide a consensus-free Byzantine-tolerant implementation that guarantees eventual consistency. We then use our Byzantine-tolerant DSO (BDSO) implementation to provide consensus-free algorithmic solutions to the Atomic Appends and Atomic Adds (the analogous problem of atomic appends applied on G-Sets) problems, as well as to construct consensus-free Single-Writer BDLOs. We believe that the BDSO has applications beyond the above-mentioned problems.

Cite as

Vicent Cholvi, Antonio Fernández Anta, Chryssis Georgiou, Nicolas Nicolaou, Michel Raynal, and Antonio Russo. Byzantine-Tolerant Distributed Grow-Only Sets: Specification and Applications. In 4th International Symposium on Foundations and Applications of Blockchain 2021 (FAB 2021). Open Access Series in Informatics (OASIcs), Volume 92, pp. 2:1-2:19, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (2021)

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@InProceedings{cholvi_et_al:OASIcs.FAB.2021.2,
  author =	{Cholvi, Vicent and Fern\'{a}ndez Anta, Antonio and Georgiou, Chryssis and Nicolaou, Nicolas and Raynal, Michel and Russo, Antonio},
  title =	{{Byzantine-Tolerant Distributed Grow-Only Sets: Specification and Applications}},
  booktitle =	{4th International Symposium on Foundations and Applications of Blockchain 2021 (FAB 2021)},
  pages =	{2:1--2:19},
  series =	{Open Access Series in Informatics (OASIcs)},
  ISBN =	{978-3-95977-196-2},
  ISSN =	{2190-6807},
  year =	{2021},
  volume =	{92},
  editor =	{Gramoli, Vincent and Sadoghi, Mohammad},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops.dagstuhl.de/entities/document/10.4230/OASIcs.FAB.2021.2},
  URN =		{urn:nbn:de:0030-drops-139883},
  doi =		{10.4230/OASIcs.FAB.2021.2},
  annote =	{Keywords: Grow-only Sets, Distributed Ledgers, Blockchains, Atomic appends}
}

Document

DOI: 10.4230/OASIcs.FAB.2021.3

DAISIM: A Computational Simulator for the MakerDAO Stablecoin

Authors: Shreyas Bhat, Ayten Betul Kahya, Bhaskar Krishnamachari, and Rohit Kumar

Published in: OASIcs, Volume 92, 4th International Symposium on Foundations and Applications of Blockchain 2021 (FAB 2021)

Abstract

We present a computational simulation of the single-collateral DAI stablecoin launched by the MakerDAO project in 2017. At the core of the simulation is a model of cryptocurrency investors acting as rational Markowitz mean-variance portfolio optimizers, with heterogeneous risk tolerance. The simulator, called DAISIM, incorporates automated order matching and price update mechanisms to determine the DAI price. We use the simulator to evaluate how the single-collateral DAI price, as well as portfolio allocations, vary for a given population of investors as a function of exogenous parameters such as the price of ETH and various system parameters including stability rate and transaction fee. DAISIM is being made available as open-source and may be useful in evaluating other similar projects.

Cite as

Shreyas Bhat, Ayten Betul Kahya, Bhaskar Krishnamachari, and Rohit Kumar. DAISIM: A Computational Simulator for the MakerDAO Stablecoin. In 4th International Symposium on Foundations and Applications of Blockchain 2021 (FAB 2021). Open Access Series in Informatics (OASIcs), Volume 92, pp. 3:1-3:13, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (2021)

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@InProceedings{bhat_et_al:OASIcs.FAB.2021.3,
  author =	{Bhat, Shreyas and Kahya, Ayten Betul and Krishnamachari, Bhaskar and Kumar, Rohit},
  title =	{{DAISIM: A Computational Simulator for the MakerDAO Stablecoin}},
  booktitle =	{4th International Symposium on Foundations and Applications of Blockchain 2021 (FAB 2021)},
  pages =	{3:1--3:13},
  series =	{Open Access Series in Informatics (OASIcs)},
  ISBN =	{978-3-95977-196-2},
  ISSN =	{2190-6807},
  year =	{2021},
  volume =	{92},
  editor =	{Gramoli, Vincent and Sadoghi, Mohammad},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops.dagstuhl.de/entities/document/10.4230/OASIcs.FAB.2021.3},
  URN =		{urn:nbn:de:0030-drops-139899},
  doi =		{10.4230/OASIcs.FAB.2021.3},
  annote =	{Keywords: Stablecoin, Simulator, MakerDAO}
}

Document

DOI: 10.4230/OASIcs.FAB.2021.4

TimeFabric: Trusted Time for Permissioned Blockchains

Authors: Aritra Mitra, Christian Gorenflo, Lukasz Golab, and S. Keshav

Published in: OASIcs, Volume 92, 4th International Symposium on Foundations and Applications of Blockchain 2021 (FAB 2021)

Abstract

As the popularity of blockchains continues to rise, blockchain platforms must be enhanced to support new application needs. In this paper, we propose one such enhancement that is essential for financial applications and online marketplaces - support for time-based logic such as verifying deadlines or expiry dates and examining a time window of recent account activity. We present a lightweight solution to reach consensus on the current time without relying on external time oracles. Our solution assigns timestamps to blocks at transaction validation time and maintains a cache reflecting the effects of recent transactions. We implement a proof-of-concept prototype, called TimeFabric, in Hyperledger Fabric, a popular permissioned blockchain platform, and experimentally demonstrate high throughput and minimal overhead (approximately 3%) of maintaining trusted time. We also demonstrate a 2x performance improvement due to the cache, compared to reconstructing account histories from the ledger.

Cite as

Aritra Mitra, Christian Gorenflo, Lukasz Golab, and S. Keshav. TimeFabric: Trusted Time for Permissioned Blockchains. In 4th International Symposium on Foundations and Applications of Blockchain 2021 (FAB 2021). Open Access Series in Informatics (OASIcs), Volume 92, pp. 4:1-4:15, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (2021)

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@InProceedings{mitra_et_al:OASIcs.FAB.2021.4,
  author =	{Mitra, Aritra and Gorenflo, Christian and Golab, Lukasz and Keshav, S.},
  title =	{{TimeFabric: Trusted Time for Permissioned Blockchains}},
  booktitle =	{4th International Symposium on Foundations and Applications of Blockchain 2021 (FAB 2021)},
  pages =	{4:1--4:15},
  series =	{Open Access Series in Informatics (OASIcs)},
  ISBN =	{978-3-95977-196-2},
  ISSN =	{2190-6807},
  year =	{2021},
  volume =	{92},
  editor =	{Gramoli, Vincent and Sadoghi, Mohammad},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops.dagstuhl.de/entities/document/10.4230/OASIcs.FAB.2021.4},
  URN =		{urn:nbn:de:0030-drops-139906},
  doi =		{10.4230/OASIcs.FAB.2021.4},
  annote =	{Keywords: Permissioned Blockchain, Timestamp, Clock, Sliding Window, Hyerpleger Fabric}
}

Document

DOI: 10.4230/OASIcs.FAB.2021.5

Dynamic Curves for Decentralized Autonomous Cryptocurrency Exchanges

Authors: Bhaskar Krishnamachari, Qi Feng, and Eugenio Grippo

Published in: OASIcs, Volume 92, 4th International Symposium on Foundations and Applications of Blockchain 2021 (FAB 2021)

Abstract

One of the exciting recent developments in decentralized finance (DeFi) has been the development of decentralized cryptocurrency exchanges that can autonomously handle conversion between different cryptocurrencies. Decentralized exchange protocols such as Uniswap, Curve and other types of Automated Market Makers (AMMs) maintain a liquidity pool (LP) of two or more assets constrained to maintain at all times a mathematical relation to each other, defined by a given function or curve. Examples of such functions are the constant-sum and constant-product AMMs. Existing systems however suffer from several challenges. They require external arbitrageurs to restore the price of tokens in the pool to match the market price. Such activities can potentially drain resources from the liquidity pool. In particular dramatic market price changes can result in low liquidity with respect to one or more of the assets and reduce the total value of the LP. We propose in this work a new approach to constructing the AMM by proposing the idea of dynamic curves. It utilizes input from a market price oracle to modify the mathematical relationship between the assets so that the pool price continuously and automatically adjusts to be identical to the market price. This approach eliminates arbitrage opportunities and, as we show through simulations, maintains liquidity in the LP for all assets and the total value of the LP over a wide range of market prices.

Cite as

Bhaskar Krishnamachari, Qi Feng, and Eugenio Grippo. Dynamic Curves for Decentralized Autonomous Cryptocurrency Exchanges. In 4th International Symposium on Foundations and Applications of Blockchain 2021 (FAB 2021). Open Access Series in Informatics (OASIcs), Volume 92, pp. 5:1-5:14, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (2021)

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@InProceedings{krishnamachari_et_al:OASIcs.FAB.2021.5,
  author =	{Krishnamachari, Bhaskar and Feng, Qi and Grippo, Eugenio},
  title =	{{Dynamic Curves for Decentralized Autonomous Cryptocurrency Exchanges}},
  booktitle =	{4th International Symposium on Foundations and Applications of Blockchain 2021 (FAB 2021)},
  pages =	{5:1--5:14},
  series =	{Open Access Series in Informatics (OASIcs)},
  ISBN =	{978-3-95977-196-2},
  ISSN =	{2190-6807},
  year =	{2021},
  volume =	{92},
  editor =	{Gramoli, Vincent and Sadoghi, Mohammad},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops.dagstuhl.de/entities/document/10.4230/OASIcs.FAB.2021.5},
  URN =		{urn:nbn:de:0030-drops-139911},
  doi =		{10.4230/OASIcs.FAB.2021.5},
  annote =	{Keywords: Decentralized Exchange, Automated Market Maker, Decentralized Finance, Dynamic Curves}
}

Document

DOI: 10.4230/LIPIcs.ICDT.2020.17

Coordination-Free Byzantine Replication with Minimal Communication Costs

Authors: Jelle Hellings and Mohammad Sadoghi

Published in: LIPIcs, Volume 155, 23rd International Conference on Database Theory (ICDT 2020)

Abstract

State-of-the-art fault-tolerant and federated data management systems rely on fully-replicated designs in which all participants have equivalent roles. Consequently, these systems have only limited scalability and are ill-suited for high-performance data management. As an alternative, we propose a hierarchical design in which a Byzantine cluster manages data, while an arbitrary number of learners can reliable learn these updates and use the corresponding data. To realize our design, we propose the delayed-replication algorithm, an efficient solution to the Byzantine learner problem that is central to our design. The delayed-replication algorithm is coordination-free, scalable, and has minimal communication cost for all participants involved. In doing so, the delayed-broadcast algorithm opens the door to new high-performance fault-tolerant and federated data management systems. To illustrate this, we show that the delayed-replication algorithm is not only useful to support specialized learners, but can also be used to reduce the overall communication cost of permissioned blockchains and to improve their storage scalability.

Cite as

Jelle Hellings and Mohammad Sadoghi. Coordination-Free Byzantine Replication with Minimal Communication Costs. In 23rd International Conference on Database Theory (ICDT 2020). Leibniz International Proceedings in Informatics (LIPIcs), Volume 155, pp. 17:1-17:20, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (2020)

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@InProceedings{hellings_et_al:LIPIcs.ICDT.2020.17,
  author =	{Hellings, Jelle and Sadoghi, Mohammad},
  title =	{{Coordination-Free Byzantine Replication with Minimal Communication Costs}},
  booktitle =	{23rd International Conference on Database Theory (ICDT 2020)},
  pages =	{17:1--17:20},
  series =	{Leibniz International Proceedings in Informatics (LIPIcs)},
  ISBN =	{978-3-95977-139-9},
  ISSN =	{1868-8969},
  year =	{2020},
  volume =	{155},
  editor =	{Lutz, Carsten and Jung, Jean Christoph},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops.dagstuhl.de/entities/document/10.4230/LIPIcs.ICDT.2020.17},
  URN =		{urn:nbn:de:0030-drops-119418},
  doi =		{10.4230/LIPIcs.ICDT.2020.17},
  annote =	{Keywords: Byzantine learner, coordination-free checkpoint protocol, delayed-replication, information dispersal, consensus}
}

Document

Brief Announcement

DOI: 10.4230/LIPIcs.DISC.2019.44

Brief Announcement: Revisiting Consensus Protocols through Wait-Free Parallelization

Authors: Suyash Gupta, Jelle Hellings, and Mohammad Sadoghi

Published in: LIPIcs, Volume 146, 33rd International Symposium on Distributed Computing (DISC 2019)

Abstract

In this brief announcement, we propose a protocol-agnostic approach to improve the design of primary-backup consensus protocols. At the core of our approach is a novel wait-free design of running several instances of the underlying consensus protocol in parallel. To yield a high-performance parallelized design, we present coordination-free techniques to order operations across parallel instances, deal with instance failures, and assign clients to specific instances. Consequently, the design we present is able to reduce the load on individual instances and primaries, while also reducing the adverse effects of any malicious replicas. Our design is fine-tuned such that the instances coordinated by non-faulty replicas are wait-free: they can continuously make consensus decisions, independent of the behavior of any other instances.

Cite as

Suyash Gupta, Jelle Hellings, and Mohammad Sadoghi. Brief Announcement: Revisiting Consensus Protocols through Wait-Free Parallelization. In 33rd International Symposium on Distributed Computing (DISC 2019). Leibniz International Proceedings in Informatics (LIPIcs), Volume 146, pp. 44:1-44:3, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (2019)

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@InProceedings{gupta_et_al:LIPIcs.DISC.2019.44,
  author =	{Gupta, Suyash and Hellings, Jelle and Sadoghi, Mohammad},
  title =	{{Brief Announcement: Revisiting Consensus Protocols through Wait-Free Parallelization}},
  booktitle =	{33rd International Symposium on Distributed Computing (DISC 2019)},
  pages =	{44:1--44:3},
  series =	{Leibniz International Proceedings in Informatics (LIPIcs)},
  ISBN =	{978-3-95977-126-9},
  ISSN =	{1868-8969},
  year =	{2019},
  volume =	{146},
  editor =	{Suomela, Jukka},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops.dagstuhl.de/entities/document/10.4230/LIPIcs.DISC.2019.44},
  URN =		{urn:nbn:de:0030-drops-113514},
  doi =		{10.4230/LIPIcs.DISC.2019.44},
  annote =	{Keywords: Consensus, primary-backup, high-performance, wait-free parallelization}
}

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