This Week in Blockchain Research Issue #122

Issue #122


Issue #122

Paper of the Week:

Paper Title: Decentralized Exchanges.


  1. Uniswap is one of the largest decentralized exchanges with a liquidity balance of over 3 billion USD and daily trading volume of over 700 million USD.

  2. It is designed as a system of smart contracts on the Ethereum blockchain, and is a new model of liquidity provision, so called automated market making.

  3. This work collects and analyzes data on all 19 million Uniswap interactions from 2018 to the current time.

  4. For this new market, it characterizes equilibrium liquidity pools and provides evidence that they are stable.

  5. It compares this automated market maker to Binance and establishes absence of arbitrage and shows conditions under which the AMM dominates a limit order market.

AuthorsChristine A. Parlour*,

Affiliations: * University of California, Berkeley.


1. Paper Title: Aggregating hash-based signatures using STARKs.

Summary: This work presents an approach for compressing regular hash-based signatures using STARKs.

Authors: Irakliy Khaburzaniya*†, Konstantinos Chalkias*†, Kevin Lewi*†, and Harjasleen Malvai*†‡,

Affiliations* Novi, † Facebook, and ‡ Cornell University.

2. Paper Title: One-time Traceable Ring Signatures.

Summary: One-time means that the security properties – unforgeability, anonymity, non-frameability – are guaranteed only as long as a signer uses the secret key at most once.

Authors: Alessandra Scafuro* and Bihan Zhang*

Affiliations* North Carolina State University.


No papers.


1. Paper Title: Aurora: a probabilistic algorithm for distributed ledgers enabling trustless synchronization and transaction inclusion verification.

Summary: A probabilistic algorithm that identifies honest nodes for transient or persistent communication in the presence of malicious nodes in a blockchain network, or ceases operation if it is unable to do so.

Authors: Federico Matteo Bencic* and Ivana Podnar Zarko*

Affiliations* University of Zagreb.


No papers.


No papers.


1. Paper Title: The Limits of Code Deference.

Summary: Litigation over smart contract outcomes may disrupt—if not destroy—decentralized ventures and may have widespread unintended negative effects upon the rights and property of other decentralized venture participants and on third parties.

AuthorsAndrew Hinkes*,

Affiliations: * New York University.

2. Paper Title: What Uncertainties Matter to Cryptocurrencies?

Summary: Identifying economic uncertainties salient to the price dynamics of cryptocurrencies.

AuthorsImtiaz Sifat*,

Affiliations: * Monash University.

3. Paper Title: Non-fungible token (NFT) markets on the Ethereum blockchain: Temporal development, cointegration and interrelations.

Summary: This study provides an introduction to NFTs and explores the 14 largest submarkets using data from the Ethereum blockchain between June 2017 and May 2021.

AuthorsLennart Ante*,

Affiliations: * Blockchain Research Lab.

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