228 citations · 798 across the 20 of their papers we have counts for
22 papers
How the interplay between power concentration, competition, and propagation affects the resource efficiency of distributed ledgers
Paolo Barucca, Carlo Campajola, Jiahua Xu
Forks in the Bitcoin network result from the natural competition in the blockchain's Proof-of-Work consensus protocol. Their frequency is a critical indicator for the efficiency of…
Piercing the Veil of TVL: DeFi Reappraised
Yichen Luo, Yebo Feng, Jiahua Xu +1
Total value locked (TVL) is widely used to measure the size and popularity of decentralized finance (DeFi). However, TVL can be easily manipulated and inflated through "double coun…
Evolution of ESG-focused DLT Research: An NLP Analysis of the Literature
Walter Hernandez Cruz, Kamil Tylinski, Alastair Moore +6
Distributed Ledger Technology (DLT) faces increasing environmental scrutiny, particularly concerning the energy consumption of the Proof of Work (PoW) consensus mechanism and broad…
SoK: Design, Vulnerabilities, and Security Measures of Cryptocurrency Wallets
Yimika Erinle, Yathin Kethepalli, Yebo Feng +1
With the advent of decentralised digital currencies powered by blockchain technology, a new era of peer-to-peer transactions has commenced. The rapid growth of the cryptocurrency e…
Auto.gov: Learning-based Governance for Decentralized Finance (DeFi)
Jiahua Xu, Yebo Feng, Daniel Perez +1
Decentralized finance (DeFi) is an integral component of the blockchain ecosystem, enabling a range of financial activities through smart-contract-based protocols. Traditional DeFi…
DeFi versus TradFi: Valuation Using Multiples and Discounted Cash Flows
Teng Andrea Xu, Jiahua Xu, Kristof Lommers
As of August 2022, blockchain-based assets boast a combined market capitalisation exceeding one trillion USD, among which the most prominent are the decentralised autonomous organi…
Reap the Harvest on Blockchain: A Survey of Yield Farming Protocols
Jiahua Xu, Yebo Feng
Yield farming represents an immensely popular asset management activity in decentralized finance (DeFi). It involves supplying, borrowing, or staking crypto assets to earn an incom…
A Short Survey on Business Models of Decentralized Finance (DeFi) Protocols
Teng Andrea Xu, Jiahua Xu
Decentralized Finance (DeFi) services are moving traditional financial operations to the Internet of Value (IOV) by exploiting smart contracts, distributed ledgers, and clever hete…
Token-based Insurance Solutions on Blockchain
Simon Cousaert, Nikhil Vadgama, Jiahua Xu
With the rising demand for protection against new risks such as loss of digital assets, novel insurance services and products emerge. In particular, token-based insurance solutions…
The Energy Footprint of Blockchain Consensus Mechanisms Beyond Proof-of-Work
Moritz Platt, Johannes Sedlmeir, Daniel Platt +4
Popular distributed ledger technology (DLT) systems using proof-of-work (PoW) for Sybil attack resistance have extreme energy requirements, drawing stern criticism from academia, b…
Jack The Rippler: Arbitrage on the Decentralized Exchange of the XRP Ledger
Gaspard Peduzzi, Jason James, Jiahua Xu
The XRP Ledger (XRPL) is a peer-to-peer cryptographic ledger. It features a decentralized exchange (DEX) where network participants can issue and trade user-defined digital assets…
SoK: Yield Aggregators in DeFi
Simon Cousaert, Jiahua Xu, Toshiko Matsui
Yield farming has been an immensely popular activity for cryptocurrency holders since the explosion of Decentralized Finance (DeFi) in the summer of 2020. In this Systematization o…
From banks to DeFi: the evolution of the lending market
Jiahua Xu, Nikhil Vadgama
The Internet of Value (IOV) with its distributed ledger technology (DLT) underpinning has created new forms of lending markets. As an integral part of the decentralised finance (De…
SoK: Decentralized Exchanges (DEX) with Automated Market Maker (AMM) Protocols
Jiahua Xu, Krzysztof Paruch, Simon Cousaert +1
As an integral part of the decentralized finance (DeFi) ecosystem, decentralized exchanges (DEXs) with automated market maker (AMM) protocols have gained massive traction with the…
A Game-Theoretic Analysis of Cross-Ledger Swaps with Packetized Payments
Alevtina Dubovitskaya, Damien Ackerer, Jiahua Xu
We propose a game-theoretic framework to study the outcomes of packetized payments, a cross-ledger transaction protocol, with strategic and possibly malicious agents. We derive the…
Triple-entry Accounting, Blockchain and Next of Kin: Towards a Standardisation of Ledger Terminology
Juan Ignacio Ibañez, Chris N. Bayer, Paolo Tasca +1
Triple-entry accounting (TEA) is simultaneously a novel application in the blockchain universe and one of the many concepts applied in blockchain technology. Its Wild Wild West sta…
A Game-Theoretic Analysis of Cross-Chain Atomic Swaps with HTLCs
Jiahua Xu, Damien Ackerer, Alevtina Dubovitskaya
To achieve interoperability between unconnected ledgers, hash time lock contracts (HTLCs) are commonly used for cross-chain asset exchange. The solution tolerates transaction failu…
Liquidations: DeFi on a Knife-edge
Daniel Perez, Sam M. Werner, Jiahua Xu +1
The trustless nature of permissionless blockchains renders overcollateralization a key safety component relied upon by decentralized finance (DeFi) protocols. Nonetheless, factors…
REA, Triple-Entry Accounting and Blockchain: Converging Paths to Shared Ledger Systems
Juan Ignacio Ibañez, Chris N. Bayer, Paolo Tasca +1
The concept of shared ledger systems offering a single source of truth has repeatedly called traditional bookkeeping into question. Improving upon the long-standing double-entry sy…
Carbon Trading with Blockchain
Andreas Richardson, Jiahua Xu
Blockchain has the potential to accelerate the deployment of emissions trading systems (ETS) worldwide and improve upon the efficiency of existing systems. In this paper, we presen…
Revisiting Transactional Statistics of High-scalability Blockchains
Daniel Perez, Jiahua Xu, Benjamin Livshits
Scalability has been a bottleneck for major blockchains such as Bitcoin and Ethereum. Despite the significantly improved scalability claimed by several high--profile blockchain pro…
The Anatomy of a Cryptocurrency Pump-and-Dump Scheme
Jiahua Xu, Benjamin Livshits
While pump-and-dump schemes have attracted the attention of cryptocurrency observers and regulators alike, this paper represents the first detailed empirical query of pump-and-dump…