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Empirically Analyzing Ethereum's Gas Mechanism [article]

Renlord Yang, Toby Murray, Paul Rimba, Udaya Parampalli
2019 arXiv   pre-print
Ethereum's Gas mechanism attempts to set transaction fees in accordance with the computational cost of transaction execution: a cost borne by default by every node on the network to ensure correct smart  ...  In this work, we performed the first large scale empirical study to understand to what degree this alignment exists in practice, by collecting and analyzing Tera-bytes worth of nanosecond-precision transaction  ...  To evaluate the gas mechanism in its mission to price transactions effectively with respect to transaction execution time, we perform an in-depth empirical analysis of the Ethereum gas mechanics in an  ... 
arXiv:1905.00553v1 fatcat:nr46ezmrmjdhvlk7d34ch4xywu

Empirically Analyzing Ethereum's Gas Mechanism

Renlord Yang, Toby Murray, Paul Rimba, Udaya Parampalli
2019 2019 IEEE European Symposium on Security and Privacy Workshops (EuroS&PW)  
Ethereum's Gas mechanism attempts to set transaction fees in accordance with the computational cost of transaction execution: a cost borne by default by every node on the network to ensure correct smart  ...  In this work, we performed the first large scale empirical study to understand to what degree this alignment exists in practice, by collecting and analyzing Tera-bytes worth of nanosecond-precision transaction  ...  To evaluate the gas mechanism in its mission to price transactions effectively with respect to transaction execution time, we perform an in-depth empirical analysis of the Ethereum gas mechanics in an  ... 
doi:10.1109/eurospw.2019.00041 dblp:conf/eurosp/YangMRP19 fatcat:mcfo53jovjc55d6kfdcpu7b3le

Transaction Fees on a Honeymoon: Ethereum's EIP-1559 One Month Later [article]

Daniël Reijsbergen, Shyam Sridhar, Barnabé Monnot, Stefanos Leonardos, Stratis Skoulakis, Georgios Piliouras
2022 arXiv   pre-print
Ethereum Improvement Proposal (EIP) 1559 was recently implemented to transform Ethereum's transaction fee market.  ...  The base fee reflects prevailing network conditions and hence provides a more reliable oracle for current gas prices.  ...  Ethereum's Legacy Fee Market: Ethereum's legacy fee market mechanism, thus, closely resembled that of a (generalized) first-price auction.  ... 
arXiv:2110.04753v3 fatcat:m3uenohw2fc6ldw5e57zgi3zwe

IEEE Security & Privacy Subscribe

2020 IEEE Software  
Accessed on: June 18, ing Ethereum’s gas mechanism,” in 9. X. Xu, C. Pautasso, L. Zhu, Q.  ...  Parampalli, “Empirically analyz- reg/2016/679/oj tion index.”  ... 
doi:10.1109/ms.2020.3012074 fatcat:uw7ymajm2vhvtfrha7wyqss3ju

An Empirical Study of Protocols in Smart Contracts [article]

Timothy Mou, Michael Coblenz, Jonathan Aldrich
2021 arXiv   pre-print
We analyze Solidity smart contracts deployed on the Ethereum blockchain and study the prevalence of protocols and protocol-based bugs, as well as opportunities for gas optimizations.  ...  Finding protocol-based optimizations We then identified a method to lower the gas cost of some transactions using Ethereum's refund mechanism.  ...  We are not aware of any tools which optimize gas usage by taking advantage of Ethereum's gas refund policy.  ... 
arXiv:2110.08983v1 fatcat:hoxhmo5osbgrjnsr3fehheh2sq

Blockchain is Watching You: Profiling and Deanonymizing Ethereum Users [article]

Ferenc Béres, István András Seres, András A. Benczúr, Mikerah Quintyne-Collins
2020 arXiv   pre-print
In our privacy analysis of Ethereum's account-based model, we describe several patterns that characterize only a limited set of users and successfully apply these quasi-identifiers in address deanonymization  ...  A.1 Gas mechanism A crucial aspect of the EVM is the gas mechanism. To every EVM opcode, there is a gas amount assigned, which is deemed to price the computational complexity of that opcode.  ...  We provide more elementary preliminaries on Ethereum and its applied gas mechanism in Appendix A.  ... 
arXiv:2005.14051v2 fatcat:ui7g3ilqhjdohbwgyjmtzqdaw4

Ethereum: State of Knowledge and Research Perspectives [chapter]

Sergei Tikhomirov
2018 Lecture Notes in Computer Science  
The stated is stored in a blockchain secured by a proof-of-work consensus mechanism similar to that in Bitcoin.  ...  All transactions are broadcast in plaintext and can be intercepted (or later obtained from the blockchain) and analyzed.  ...  An empirical analysis of smart contracts: platforms, applications, and design patterns. CoRR, abs/1703.06322, 2017. [Buc14] Ethan Buchman.  ... 
doi:10.1007/978-3-319-75650-9_14 fatcat:hypwhlvpzndmbllfqxytk4bj4y

An Empirical Study of Market Inefficiencies in Uniswap and SushiSwap [article]

Jan Arvid Berg, Robin Fritsch, Lioba Heimbach, Roger Wattenhofer
2022 arXiv   pre-print
We find that nearly 30% of analyzed trades are executed at an unfavorable rate.  ...  Data Description We analyze data from Uniswap and SushiSwap: Ethereum's two largest DEXes by trading volume.  ...  [16] focus on cyclic arbitrage trades, a type of BEV, analyzing them theoretically and empirically.  ... 
arXiv:2203.07774v2 fatcat:44l3lpkmwff37ko2g4yvqnzope

Step on the Gas? A Better Approach for Recommending the Ethereum Gas Price [article]

Sam M. Werner and Paul J. Pritz and Daniel Perez
2021 arXiv   pre-print
We perform an empirical analysis of historic block data to motivate the use of a predictive model for gas price recommendation.  ...  Existing recommendation mechanisms aggregate recent gas price data on a per-block basis to suggest a gas price.  ...  Empirical Analysis In this section, we empirically analyze Ethereum block data to develop a better understanding of the gas price behavior.  ... 
arXiv:2003.03479v2 fatcat:noxwnbeq6vf4xcbsypud53r6di

Infochain: A Decentralized, Trustless and Transparent Oracle on Blockchain [article]

Naman Goel, Cyril van Schreven, Aris Filos-Ratsikas, Boi Faltings
2020 arXiv   pre-print
We discuss various non-trivial issues that arise in implementing peer-consistency mechanisms in Ethereum, suggest several optimizations to reduce gas cost and provide empirical analysis.  ...  We show how a peer-consistency incentive mechanism can be used to acquire truthful information from an untrusted and self-interested crowd, even when the crowd has outside incentives to provide wrong information  ...  For the first time, we discuss several non-trivial ways of implementing three different peer-consistency mechanisms in Solidity (Ethereum's programming language) and empirically compare their costs. •  ... 
arXiv:1908.10258v2 fatcat:76nh7qheo5flphnx45fr6j4pcu

Frontrunner Jones and the Raiders of the Dark Forest: An Empirical Study of Frontrunning on the Ethereum Blockchain [article]

Christof Ferreira Torres, Ramiro Camino, Radu State
2021 arXiv   pre-print
Recently, Ethereum's pool of pending transaction has become a far more aggressive environment.  ...  Gas Economics Ethereum employs a gas mechanism that assigns a cost to each EVM instruction. This mechanism prevents denial-of-service attacks and ensures termination.  ...  Gas Tokens. We analyzed how many attacks were mounted using gas tokens. Gas tokens allow attackers to reduce their gas costs.  ... 
arXiv:2102.03347v2 fatcat:cq67fsdlyfhcjmjd3g344nxlfa

Financial Risk Analysis for SMEs with Graph-based Supply Chain Mining

Shuo Yang, Zhiqiang Zhang, Jun Zhou, Yang Wang, Wang Sun, Xingyu Zhong, Yanming Fang, Quan Yu, Yuan Qi
2020 Proceedings of the Twenty-Ninth International Joint Conference on Artificial Intelligence  
For the first time, we discuss several non-trivial ways of implementing three different peer-consistency mechanisms in Solidity (Ethereum's programming language) and empirically compare their costs. •  ...  We analyze the settings when agents have outside incentives to lie.  ... 
doi:10.24963/ijcai.2020/635 dblp:conf/ijcai/GoelSFF20 fatcat:x52zbi22ezbebeonfaec4urpie

A comparative analysis of the platforms for decentralized autonomous organizations in the Ethereum blockchain

Youssef Faqir-Rhazoui, Javier Arroyo, Samer Hassan
2021 Journal of Internet Services and Applications  
However, the literature has yet to appropriately explore empirically this phenomena. In this paper, we aim to shed light on the current state of the DAO ecosystem.  ...  We analyze data from 72,320 users and 2,353 DAO communities in order to study the three ecosystems across four dimensions: growth, activity, voting system and funds.  ...  For the user approach, gas ultimately translates into money and the amount of gas depends on the size and type of each operation.  ... 
doi:10.1186/s13174-021-00139-6 fatcat:ov4wzoxeffhyvpng7ro6lf367q

A Comparative Analysis of Current Cryptocurrencies

Lara Mauri, Stelvio Cimato, Ernesto Damiani
2018 Proceedings of the 4th International Conference on Information Systems Security and Privacy  
Blockchain technology is having a deep impact on the financial and technical sectors providing a mechanism for the creation of decentralized currencies and a number of applications in different fields.  ...  Ether (Ethereum's value token), is meant as a system resource needed to execute smart contracts, i.e. the mechanism carrying out the direct exchange of values between untrusted parties.  ...  At the end of the transaction, if not all the gas is consumed, unused gas is refunded in ether to the sender's account; thus, ether is converted freely to and from gas as required.  ... 
doi:10.5220/0006648801270138 dblp:conf/icissp/MauriCD18 fatcat:4j4pvdmh6vh4li3bpjvxnv2q4u

Optimized Execution of Business Processes on Blockchain [article]

Luciano García-Bañuelos, Alexander Ponomarev, Marlon Dumas, Ingo Weber
2016 arXiv   pre-print
The consensus mechanism governing the blockchain thereby guarantees that the process model is followed by each party.  ...  The method is empirically compared to a previously proposed baseline by replaying execution logs, including one from a real-life business process, and measuring resource consumption.  ...  Ethereum's cost model is based on fixed gas consumption per operation [5] , e.g., reading a variable costs 50 gas, writing a variable 5-20K gas, and a comparison statement 3 gas.  ... 
arXiv:1612.03152v1 fatcat:zun5qyoervbwjpmmkuuagdbe3m
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