Yibin Xu, Tijs Slaats, Boris Düdder, S. Debois, Haiqin Wu
{"title":"Distributed and Adversarial Resistant Workflow Execution on the Algorand Blockchain","authors":"Yibin Xu, Tijs Slaats, Boris Düdder, S. Debois, Haiqin Wu","doi":"10.48550/arXiv.2211.08695","DOIUrl":"https://doi.org/10.48550/arXiv.2211.08695","url":null,"abstract":"We provide a practical translation from the Dynamic Condition Response (DCR) process modelling language to the Transaction Execution Approval Language (TEAL) used by the Algorand blockchain. Compared to earlier implementations of business process notations on blockchains, particularly Ethereum, the present implementation is four orders of magnitude cheaper. This translation has the following immediate ramifications: (1) It allows decentralised execution of DCR-specified business processes in the absence of expensive intermediaries (lawyers, brokers) or counterparty risk. (2) It provides a possibly helpful high-level language for implementing business processes on Algorand. (3) It demonstrates that despite the strict limitations on Algorand smart contracts, they are powerful enough to encode models of a modern process notation.","PeriodicalId":257557,"journal":{"name":"Financial Cryptography Workshops","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-11-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115734931","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Not so immutable: Upgradeability of Smart Contracts on Ethereum","authors":"M. Salehi, Jeremy Clark, Mohammad Mannan","doi":"10.48550/arXiv.2206.00716","DOIUrl":"https://doi.org/10.48550/arXiv.2206.00716","url":null,"abstract":"A smart contract that is deployed to a blockchain system like Ethereum is, under reasonable circumstances, expected to be immutable and tamper-proof. This is both a feature (promoting integrity and transparency) and a bug (preventing security patches and feature updates). Modern smart contracts use software tricks to enable upgradeability, raising the research questions of how upgradeability is achieved and who is authorized to make changes. In this paper, we summarize and evaluate six upgradeability patterns. We develop a measurement framework for finding how many upgradeable contracts are on Ethereum that use certain prominent upgrade patters. We find 1.4 million proxy contracts which 8,225 of them are unique upgradeable proxy contracts. We also measure how they implement access control over their upgradeability: about 50% are controlled by a single Externally Owned Address (EOA), and about 14% are controlled by multi-signature wallets in which a limited number of persons can change the whole logic of the contract.","PeriodicalId":257557,"journal":{"name":"Financial Cryptography Workshops","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129217487","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Janine Berg, Robin Fritsch, Lioba Heimbach, Roger Wattenhofer
{"title":"An Empirical Study of Market Inefficiencies in Uniswap and SushiSwap","authors":"Janine Berg, Robin Fritsch, Lioba Heimbach, Roger Wattenhofer","doi":"10.48550/arXiv.2203.07774","DOIUrl":"https://doi.org/10.48550/arXiv.2203.07774","url":null,"abstract":"Decentralized exchanges are revolutionizing finance. With their ever-growing increase in popularity, a natural question that begs to be asked is: how efficient are these new markets? We find that nearly 30% of analyzed trades are executed at an unfavorable rate. Additionally, we observe that, especially during the DeFi summer in 2020, price inaccuracies across the market plagued DEXes. Uniswap and SushiSwap, however, quickly adapt to their increased volumes. We see an increase in market efficiency with time during the observation period. Nonetheless, the DEXes still struggle to track the reference market when cryptocurrency prices are highly volatile. During such periods of high volatility, we observe the market becoming less efficient - manifested by an increased prevalence in cyclic arbitrage opportunities.","PeriodicalId":257557,"journal":{"name":"Financial Cryptography Workshops","volume":"58 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130366928","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Short Survey on Business Models of Decentralized Finance (DeFi) Protocols","authors":"TengTeng Xu, Jiahua Xu","doi":"10.1007/978-3-031-32415-4_13","DOIUrl":"https://doi.org/10.1007/978-3-031-32415-4_13","url":null,"abstract":"","PeriodicalId":257557,"journal":{"name":"Financial Cryptography Workshops","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116305494","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Michelle L. Blom, Peter J. Stuckey, Vanessa J. Teague, Damjan Vukcevic
{"title":"A First Approach to Risk-Limiting Audits for Single Transferable Vote Elections","authors":"Michelle L. Blom, Peter J. Stuckey, Vanessa J. Teague, Damjan Vukcevic","doi":"10.1007/978-3-031-32415-4_25","DOIUrl":"https://doi.org/10.1007/978-3-031-32415-4_25","url":null,"abstract":"","PeriodicalId":257557,"journal":{"name":"Financial Cryptography Workshops","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132422264","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"RemoteVote and SAFE Vote: Towards Usable End-to-End Verification for Vote-by-Mail","authors":"Braden L. Crimmins, Marshal Rhea, J. A. Halderman","doi":"10.1007/978-3-031-32415-4_27","DOIUrl":"https://doi.org/10.1007/978-3-031-32415-4_27","url":null,"abstract":"","PeriodicalId":257557,"journal":{"name":"Financial Cryptography Workshops","volume":"148 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-11-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115184606","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Geoffrey Goodell, Hazem D. R. Toliver, Danny Nakib
{"title":"A Scalable Architecture for Electronic Payments","authors":"Geoffrey Goodell, Hazem D. R. Toliver, Danny Nakib","doi":"10.1007/978-3-031-32415-4_38","DOIUrl":"https://doi.org/10.1007/978-3-031-32415-4_38","url":null,"abstract":"","PeriodicalId":257557,"journal":{"name":"Financial Cryptography Workshops","volume":"49 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-10-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122372078","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"On-Chain Auctions with Deposits","authors":"Jan Christoph Schlegel, A. Mamageishvili","doi":"10.1007/978-3-031-32415-4_14","DOIUrl":"https://doi.org/10.1007/978-3-031-32415-4_14","url":null,"abstract":"","PeriodicalId":257557,"journal":{"name":"Financial Cryptography Workshops","volume":"110 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115265805","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}