{"title":"Etherless Ethereum tokens: Simulating native tokens in Ethereum","authors":"John Andrews , Michele Ciampi , Vassilis Zikas","doi":"10.1016/j.jcss.2023.02.001","DOIUrl":null,"url":null,"abstract":"<div><p>Standardized Ethereum tokens, e.g., ERC-20 tokens, have become the norm in fundraising (through ICOs) and kicking off blockchain-based DeFi applications. However, they require the user's wallet to hold both tokens and ether to pay the gas fee for making a transaction. This makes for a cumbersome user experience, and complicates, from the user perspective, the process of transitioning to a different smart-contract enabled blockchain, or to a newly launched blockchain. We formalize, instantiate, and analyze in a composable manner a system that we call <em>Etherless Ethereum Tokens</em> (in short, EETs), which allows the token users to transact in a closed-economy manner, i.e., having only tokens on their wallet and paying any transaction fees in tokens rather than Ether/Gas. In the process, we devise a methodology for capturing Ethereum token-contracts in the Universal Composability (UC) framework, which can be of independent interest.</p></div>","PeriodicalId":50224,"journal":{"name":"Journal of Computer and System Sciences","volume":"135 ","pages":"Pages 55-72"},"PeriodicalIF":1.1000,"publicationDate":"2023-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Computer and System Sciences","FirstCategoryId":"94","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0022000023000132","RegionNum":3,"RegionCategory":"计算机科学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
引用次数: 0
Abstract
Standardized Ethereum tokens, e.g., ERC-20 tokens, have become the norm in fundraising (through ICOs) and kicking off blockchain-based DeFi applications. However, they require the user's wallet to hold both tokens and ether to pay the gas fee for making a transaction. This makes for a cumbersome user experience, and complicates, from the user perspective, the process of transitioning to a different smart-contract enabled blockchain, or to a newly launched blockchain. We formalize, instantiate, and analyze in a composable manner a system that we call Etherless Ethereum Tokens (in short, EETs), which allows the token users to transact in a closed-economy manner, i.e., having only tokens on their wallet and paying any transaction fees in tokens rather than Ether/Gas. In the process, we devise a methodology for capturing Ethereum token-contracts in the Universal Composability (UC) framework, which can be of independent interest.
期刊介绍：
The Journal of Computer and System Sciences publishes original research papers in computer science and related subjects in system science, with attention to the relevant mathematical theory. Applications-oriented papers may also be accepted and they are expected to contain deep analytic evaluation of the proposed solutions.
Research areas include traditional subjects such as:
• Theory of algorithms and computability
• Formal languages
• Automata theory
Contemporary subjects such as:
• Complexity theory
• Algorithmic Complexity
• Parallel & distributed computing
• Computer networks
• Neural networks
• Computational learning theory
• Database theory & practice
• Computer modeling of complex systems
• Security and Privacy.
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