Wendy, the Good Little Fairness Widget

07/16/2020
by   Klaus Kursawe, et al.
0

The advent of decentralized trading markets introduces a number of new challenges for consensus protocols. In addition to the `usual' attacks – a subset of the validators trying to prevent disagreement – there is now the possibility of financial fraud, which can abuse properties not normally considered critical in consensus protocols. We investigate the issues of attackers manipulating or exploiting the order in which transactions are scheduled in the blockchain. More concretely, we look into relative order fairness, i.e., ways we can assure that the relative order of transactions is fair. We show that one of the more intuitive definitions of fairness is impossible to achieve. We then present Wendy, a group of low overhead protocols that can implement different concepts of fairness. Wendy acts as an additional widget for an existing blockchain, and is largely agnostic to the underlying blockchain and its security assumptions. Furthermore, it is possible to apply a the protocol only for a subset of the transactions, and thus run several independent fair markets on the same chain.

READ FULL TEXT

page 1

page 2

page 3

page 4

research
12/13/2021

Quick Order Fairness

Leader-based protocols for consensus, i.e., atomic broadcast, allow some...
research
06/09/2023

Front-running Attack in Distributed Sharded Ledgers and Fair Cross-shard Consensus

Sharding is a prominent technique for scaling blockchains. By dividing t...
research
07/21/2022

Cryptographic and Financial Fairness

A recent trend in multi-party computation is to achieve cryptographic fa...
research
02/08/2021

We might walk together, but I run faster: Network Fairness and Scalability in Blockchains

Blockchain-based Distributed Ledgers (DLs) promise to transform the exis...
research
06/10/2019

FairLedger: A Fair Blockchain Protocol for Financial Institutions

Financial institutions are currently looking into technologies for permi...
research
02/15/2019

G-IOTA: Fair and confidence aware tangle

This paper proposes strategies to improve the IOTA tangle in terms of re...
research
03/27/2023

A Note on the Welfare Gap in Fair Ordering

In this short note, we show a gap between the welfare of a traditionally...

Please sign up or login with your details

Forgot password? Click here to reset