Transaction fee mechanisms with farsighted miners

IF 1.5 4区计算机科学 Q3 COMPUTER SCIENCE, INFORMATION SYSTEMS

International Journal of Network Management Pub Date : 2024-05-21 DOI:10.1002/nem.2275

Jens Leth Hougaard, Mohsen Pourpouneh, Haiting Han

引用次数: 0

Abstract

We investigate the recent fee mechanism EIP1559 of the Ethereum network. Whereas previous studies have focused on myopic miners, we here focus on strategic miners in the sense of miners being able to reason about the future blocks. We derive expressions for optimal miner behavior (in terms of setting block sizes) in the case of two-block foresight and varying degrees of hashing power. Results indicate that a sufficiently large mining pool will have enough hashing power to gain by strategic foresight. We further use a simulation study to examine the impact of both two-block and three-block foresight. In particular, the simulation study indicates that for realistic levels of hashing power, mining pools do not gain from being able to reason more than two blocks ahead. Moreover, even though the presence of strategic miners increases the variation in block sizes and potentially empty blocks, overall system throughput tends to increase slightly compared with myopic mining. We further analyze the effect of varying the base fee updating rule.

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有远见的矿工的交易费用机制

我们研究了以太坊网络最近的收费机制 EIP1559。以往的研究主要针对近视型矿工，而我们在此主要针对策略型矿工，即能够推理未来区块的矿工。我们推导出了在两个区块预见和不同程度哈希能力的情况下矿工行为（在设置区块大小方面）的最优表达式。结果表明，一个足够大的矿池将拥有足够的哈希计算能力，从而通过战略预见获得收益。我们还通过模拟研究进一步考察了两区块和三区块预见的影响。模拟研究尤其表明，在哈希计算能力处于现实水平的情况下，矿池并不会从提前两个区块以上的推理中获益。此外，尽管策略矿工的存在增加了区块大小和潜在空区块的变化，但与近视挖矿相比，系统的总体吞吐量往往会略有增加。我们进一步分析了改变基本费用更新规则的效果。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

International Journal of Network Management COMPUTER SCIENCE, INFORMATION SYSTEMS-TELECOMMUNICATIONS

CiteScore

5.10

自引率

6.70%

发文量

审稿时长

>12 weeks

期刊介绍： Modern computer networks and communication systems are increasing in size, scope, and heterogeneity. The promise of a single end-to-end technology has not been realized and likely never will occur. The decreasing cost of bandwidth is increasing the possible applications of computer networks and communication systems to entirely new domains. Problems in integrating heterogeneous wired and wireless technologies, ensuring security and quality of service, and reliably operating large-scale systems including the inclusion of cloud computing have all emerged as important topics. The one constant is the need for network management. Challenges in network management have never been greater than they are today. The International Journal of Network Management is the forum for researchers, developers, and practitioners in network management to present their work to an international audience. The journal is dedicated to the dissemination of information, which will enable improved management, operation, and maintenance of computer networks and communication systems. The journal is peer reviewed and publishes original papers (both theoretical and experimental) by leading researchers, practitioners, and consultants from universities, research laboratories, and companies around the world. Issues with thematic or guest-edited special topics typically occur several times per year. Topic areas for the journal are largely defined by the taxonomy for network and service management developed by IFIP WG6.6, together with IEEE-CNOM, the IRTF-NMRG and the Emanics Network of Excellence.