This Week in Blockchain Research Issue #112

Issue #112


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Issue #112

Paper of the Week:

Paper Title: Designing Stable Coins.

TLDR:

  1. Existing cryptocurrencies are too volatile to be used as currencies for daily payments.

  2. Stable coins, which are cryptocurrencies pegged to other stable financial assets such as the U.S. dollar, are desirable for payments within blockchain networks, whereby being often called the “Holy Grail of cryptocurrency.”

  3. By using the option pricing theory and the Ethereum platform that allows running smart contracts, this work designs several dual-class structures.

  4. This work builds on the ETH cryptocurrency and offers a fixed income crypto asset (class A coin), a stable coin (class A′ coin) pegged to a traditional currency, and leveraged investment instruments (class B and B′ coins).

  5. The investigation of the values of stable coins in presence of jump risk and black-swan type events shows the robustness of the design.

AuthorsYizhou Cao*, Min Dai*, Steven Kou†, Lewei Li*, and Chen Yang‡,

Affiliations: * National University of Singapore, † Boston University, and ‡ The Chinese University of Hong Kong.


Security:

1. Paper Title: Adaptively Secure Broadcast in Resource-Restricted Cryptography.

Summary: A thorough investigation of adaptively secure broadcast both in the property-based and in the simulation-based security settings.

Authors: Ran Cohen*, Juan Garay†, and Vassilis Zikas‡,

Affiliations* Northeastern University, † Texas A&M University, and ‡ Purdue University.

2. Paper Title: HEX-BLOOM: An Alternative to the Merkle Tree.

Summary: An alternative model to replace the Merkle tree implemented using hash, Exclusive-OR and Bloom Filter. 

Authors: Ripon Patgiri*,

Affiliations* National Institute of Technology Silchar.


Privacy:

1. Paper Title: Analysis of CryptoNote Transaction Graphs using the Dulmage-Mendelsohn Decomposition.

Summary: How the Dulmage-Mendelsohn decomposition of bipartite graphs can be used to characterize the information revealed by CryptoNote transaction rings.

Authors: Saravanan Vijayakumaran*,

Affiliations* Indian Institute of Technology Bombay.


Scalability:

1. Paper Title: Elmo: Recursive Virtual Payment Channels for Bitcoin.

Summary: The first Bitcoin-suitable recursive virtual channel constructor that is recursive and supports channels with an indefinite lifetime.

Authors: Aggelos Kiayias*† and Orfeas Stefanos Thyfronitis Litos†,

Affiliations* University of Edinburgh and † IOHK.


Proofs:

No papers.


Consensus:

1. Paper Title: Modeling Coordinated vs. P2P Mining: An Analysis of Inefficiency and Inequality in Proof-of-Work Blockchains.

Summary: A simple model of a proof-of-work blockchain with latencies for both the P2P and the coordinated settings.

Authors: Mohamed Alzayat*, Johnnatan Messias*, Balakrishnan Chandrasekaran*†, Krishna P. Gummadi*, and Patrick Loiseau‡,

Affiliations* MPI-SWS, † VU Amsterdam, and ‡ Univ. Grenoble Alpes.

2. Paper Title: PoDT: A Secure Multi-chains Consensus Scheme Against Diverse Miners Behaviors Attacks in Blockchain Networks.

Summary: A multi-chains consensus scheme to defend against Diverse Miners Behaviors (DMB) attacks.

Authors: Jingyu Feng*, Tao Wang*, and Naixue Xiong*,

Affiliations* Xi’an University of Posts & Telecommunications.


Tokenomics:

1. Paper Title: Etherless Ethereum Tokens: Simulating Native Tokens in Ethereum.

Summary: a design methodology and formal treatment of Ethereum tokens which allow their creator to provide the option to its users of making transfers without the need to hold Ether in their wallet.

AuthorsJohn Andrews*, Michele Ciampi‡, and Vassilis Zikas

Affiliations: * Sunday Group, † The University of Edinburgh, and ‡ Purdue University.

2. Paper Title: Bitcoinmania: A Ticking Time Bomb Waiting to Explode.

Summary: Bitcoin and some altcoins may become obsolete, but blockchain will continue to forge ahead unabated as many life-changing inventions have done before.

Authors: John Taskinsoy*,

Affiliations* Universiti Malaysia Sarawak.

3. Paper Title: The non-fungible token (NFT) market and its relationship with Bitcoin and Ethereum.

Summary: This work investigates the interrelationships between NFT sales, NFT users (unique active blockchain wallets), and the pricing of Bitcoin and Ether.

Authors: Lennart Ante*,

Affiliations* University of Hamburg.

4. Paper Title: Blockchain, Privacy, and Artwork Registries: Consensus between Constraints.

Summary: This essay explores blockchain’s implication for the art market, examines blockchain’s potentials and constraints, and proposes a starting point for the art world to reach consensus.

Authors: Yujia Zheng*,

Affiliations* New York University.


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