In this paper, we analyze the Ethereum blockchain using the complex networks modeling framework. Accounts acting on the blockchain are represented as nodes, while the interactions among these accounts, recorded on the blockchain, are treated as links in the network. Using this representation, it is possible to derive interesting mathematical characteristics that improve the understanding of the actual interactions happening in the blockchain. Not only, by looking at the history of the blockchain, it is possible to verify if radical changes in the blockchain evolution happened.
Recently, several works conjectured the vulnerabilities of mainstream blockchains under several network attacks. All these attacks translate into showing that the assumptions of these blockchains can be violated in theory or under simulation at best. Unfortunately, previous results typically omit both the nature of the network under which the blockchain code runs and whether blockchains are private, consortium or public. In this paper, we study the public Ethereum blockchain as well as a consortium and private blockchains and quantify the feasibility of man-in-the-middle and double spending at…
A Coordination Blockchain is a blockchain with the task of coordinating activities of multiple private blockchains. This paper discusses the pros and cons of using Ethereum MainNet, the public Ethereum blockchain, as a Coordination Blockchain. The requirements Ethereum MainNet needs to fulfil to perform this role are discussed within the context of Ethereum Private Sidechains, a private blockchain technology which allows many blockchains to be operated in parallel, and allows atomic crosschain transactions to execute across blockchains. Ethereum MainNet is a permissionless network which aims t…
The peer-to-peer (P2P) network of blockchain used to transport its transactions and blocks has a high impact on the efficiency and security of the system. The P2P network topologies of popular blockchains such as Bitcoin and Ethereum, therefore, deserve our highest attention. The current Ethereum blockchain explorers (e.g., Etherscan) focus on the tracking of block and transaction records but omit the characterization of the underlying P2P network. This work presents the Ethereum Network Analyzer (Ethna), a tool that probes and analyzes the P2P network of the Ethereum blockchain. Unlike Bitcoi…
Atomic Crosschain Transaction technology allows composable programming across private Ethereum blockchains. It allows for inter-contract and inter-blockchain function calls that are both synchronous and atomic: if one part fails, the whole call graph of function calls is rolled back. Traditional Ethereum contract functions can limit which accounts can call them by specialised application program logic. This is important as it allows application developers to specify which callers can execute functions that update contract state. In this paper we introduce the strategy required to restrict whic…
Blockchain-based cryptocurrencies have received extensive attention recently. Massive data has been stored on permission-less blockchains. The analysis on massive blockchain data can bring huge business values. However, the lack of well-processed up-to-date blockchain datasets impedes big data analytics of blockchain data. To fill this gap, we collect and process the up-to-date on-chain data from Ethereum, which is one of the most popular permission-less blockchains. We name these well-processed Ethereum datasets as XBlock-ETH, which consists of the data of blockchain transactions, smart contr…
Ethereum Research team has proposed a family of Casper blockchain consensus protocols for Ethereum 2.0. It has been shown in the literature that Casper Friendly Finality Gadget (Casper FFG) for Ethereum 2.0's beacon network cannot achieve liveness property in partially synchronous networks such as the Internet environment. The "Correct-by-Construction" family of Casper blockchain consensus protocols (CBC Casper) has been proposed as a finality gadget for the future release of Ethereum 2.0 blockchain. Unfortunately, neither constructive finality rule nor satisfactory liveness property has been …
The continuing expansion of the blockchain ecosystems has attracted much attention from the research community. However, although a large number of research studies have been proposed to understand the diverse characteristics of individual blockchain systems (e.g., Bitcoin or Ethereum), little is known at a comprehensive level on the evolution of blockchain ecosystems at scale, longitudinally, and across multiple blockchains. We argue that understanding the dynamics of blockchain ecosystems could provide unique insights that cannot be achieved through studying a single static snapshot or a sin…
Blockchain is an emerging technology that has enabled many applications, from cryptocurrencies to digital asset management and supply chains. Due to this surge of popularity, analyzing the data stored on blockchains poses a new critical challenge in data science. To assist data scientists in various analytic tasks on a blockchain, in this tutorial, we provide a systematic and comprehensive overview of the fundamental elements of blockchain network models. We discuss how we can abstract blockchain data as various types of networks and further use such associated network abstractions to reap imp…
In blockchain, bribery is an inevitable problem since users with various goals can bribe miners by transferring cryptoassets. To alleviate the negative effects of such collusion, Ethereum blockchain implemented new transaction fee mechanism in the London Fork, which was deployed on August 5th, 2021. In this paper, we first filter potential bribery by scanning Ethereum transactions, and the potential bribers and bribees are centralized in a small group. Then we construct bribing proxies to measure the active level of bribery and then investigate the effects of bribery. Consequently, bribery can…
Transactions represent a fundamental component in blockchains as they are the primary means for users to change the blockchain state. Current blockchain systems such as Bitcoin and Ethereum require users to constantly observe the state changes of interest or the events taking place in a blockchain and requires the user to explicitly release the required transactions to respond to the observed events in the blockchain. This paper proposes EventWarden, a decentralized event-driven proxy service for users to outsource transactions in Ethereum-like blockchains. EventWarden employs a novel combinat…
Public blockchains such as Ethereum and Bitcoin do not give enterprises the privacy they need for many of their business processes. Consequently consortiums are exploring private blockchains to keep their membership and transactions private. Ethereum Private Sidechains is a private blockchain technology which allows many blockchains to be operated in parallel. Communication is needed between Ethereum Private Sidechains to allow a function in a contract on one sidechain to execute function calls which return values from, or update the state of, another sidechain. We propose a crosschain techniq…
The Enterprise Ethereum Client Specification by the Enterprise Ethereum Alliance defines the requirements which Ethereum Clients offering private smart contract capabilities should comply with. This specification though ground breaking, misses some important blockchain requirements and does not fully consider the requirements of Ethereum Clients offering Private Sidechain capabilities. This paper presents the case for Private Sidechains and defines requirements to be complied with to deliver this technology. The capabilities of three blockchain clients have been analysed based on the requireme…
In December 2015, a bounty emerged to establish both reliable communication and secure transfer of value between the Dogecoin and Ethereum blockchains. This prized "Dogethereum bridge" would allow parties to "lock" a DOGE coin on Dogecoin and in exchange receive a newly minted WOW token in Ethereum. Any subsequent owner of the WOW token could burn it and, in exchange, earn the right to "unlock" a DOGE on Dogecoin. We describe an efficient, trustless, and retrofitting Dogethereum construction which requires no fork but rather employs economic collateral to achieve a "lock" operation in Dogecoin…
A smart grid is an important application in Industry 4.0 with a lot of new technologies and equipment working together. Hence, sensitive data stored in the smart grid is vulnerable to malicious modification and theft. This paper proposes a framework to build a smart grid based on a highly effective private Ethereum network. Our framework provides a real smart grid that includes modern hardware and a smart contract to secure data in the blockchain network. To obtain high throughput but a low uncle rate, the difficulty calculation method used in the mining process of the Ethereum consensus mecha…
The blockchain technology is believed by many to be a game changer in many application domains, especially financial applications. While the first generation of blockchain technology (i.e., Blockchain 1.0) is almost exclusively used for cryptocurrency purposes, the second generation (i.e., Blockchain 2.0), as represented by Ethereum, is an open and decentralized platform enabling a new paradigm of computing --- Decentralized Applications (DApps) running on top of blockchains. The rich applications and semantics of DApps inevitably introduce many security vulnerabilities, which have no counterp…
Today, the number of IoT devices in all aspects of life is exponentially increasing. The cities we are living in are getting smarter and informing us about our surroundings in a contextual manner. However, there lay significant challenges of deploying, managing and collecting data from these devices, in addition to the problem of storing and mining that data for higher-quality IoT services. Blockchain technology, even in today's nascent form, contains the pillars to create a common, distributed, trustless and autonomous infrastructure system. This paper describes a standardized IoT infrastruct…
Ethereum is the largest public blockchain by usage. It applies an account-based model, which is inferior to Bitcoin's unspent transaction output model from a privacy perspective. Due to its privacy shortcomings, recently several privacy-enhancing overlays have been deployed on Ethereum, such as non-custodial, trustless coin mixers and confidential transactions. 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 tasks. Using Ethereum Name S…
The decentralization, redundancy, and pseudo-anonymity features have made permission-less public blockchain platforms attractive for adoption as technology platforms for cryptocurrencies. However, such adoption has enabled cybercriminals to exploit vulnerabilities in blockchain platforms and target the users through social engineering to carry out malicious activities. Most of the state-of-the-art techniques for detecting malicious actors depend on the transactional behavior of individual wallet addresses but do not analyze the money trails. We propose a heuristics-based approach that adds new…
Ethereum prospered the inception of a plethora of smart contract applications, ranging from gambling games to decentralized finance. However, Ethereum is also considered a highly adversarial environment, where vulnerable smart contracts will eventually be exploited. Recently, Ethereum's pool of pending transaction has become a far more aggressive environment. In the hope of making some profit, attackers continuously monitor the transaction pool and try to frontrun their victims' transactions by either displacing or suppressing them, or strategically inserting their transactions. This paper aim…
While blockchain technology triggers new industrial and technological revolutions, it also brings new challenges. Recently, a large number of new scams with a "blockchain" sock-puppet continue to emerge, such as Ponzi schemes, money laundering, etc., seriously threatening financial security. Existing fraud detection methods in blockchain mainly concentrate on manual feature and graph analytics, which first construct a homogeneous transaction graph using partial blockchain data and then use graph analytics to detect anomaly, resulting in a loss of pattern information. In this paper, we mainly f…
Ethereum is a permissionless blockchain ecosystem that supports execution of smart contracts, the key enablers of decentralized finance (DeFi) and non-fungible tokens (NFT). However, the expressiveness of Ethereum smart contracts is a double-edged sword: while it enables blockchain programmability, it also introduces security vulnerabilities, i.e., the exploitable discrepancies between expected and actual behaviors of the contract code. To address these discrepancies and increase the vulnerability coverage, we propose a new smart contract security testing approach called transaction encapsulat…
It is interesting but difficult and challenging to study Ethereum with multiple mining pools. One of the main difficulties comes from not only how to represent such a general tree with multiple block branches (or sub-chains) related to the multiple mining pools, but also how to analyze a multi-dimensional stochastic system due to the mining competition among the multiple mining pools. In this paper, we first set up a mathematical representation for the tree with multiple block branches. Then we provide a block classification of Ethereum: Regular blocks (in the main chain), orphan blocks, uncle…
Credential Control Balance: A Universal Blockchain Account Model Abstract From Bank to Bitcoin, Ethereum External Owned Account and Account Abstraction
Using blockchain technology, it is possible to create contracts that offer a reward in exchange for a trained machine learning model for a particular data set. This would allow users to train machine learning models for a reward in a trustless manner. The smart contract will use the blockchain to automatically validate the solution, so there would be no debate about whether the solution was correct or not. Users who submit the solutions won't have counterparty risk that they won't get paid for their work. Contracts can be created easily by anyone with a dataset, even programmatically by softwa…
The General Purpose Atomic Crosschain Transaction protocol allows composable programming across multiple Ethereum blockchains. It allows for inter-contract and inter-blockchain function calls that are both synchronous and atomic: if one part fails, the whole call execution tree of function calls is rolled back. The protocol operates on existing Ethereum blockchains without modification. It works for both public permissioned and consortium blockchains. Additionally, the protocol is expected to work across heterogeneous blockchains other than Ethereum. This paper describes the protocol, analyses…
Ethereum is a decentralized Blockchain system that supports the execution of Turing-complete smart contracts. Although the security of the Ethereum ecosystem has been studied in the past, the network layer has been mostly neglected. We show that Go Ethereum (Geth), the most widely used Ethereum implementation, is vulnerable to eclipse attacks, effectively circumventing recently introduced (Geth v1.8.0) security enhancements. We responsibly disclosed the vulnerability to core Ethereum developers; the corresponding countermeasures to our attack where incorporated into the v1.9.0 release of Geth.…
Blockchains and smart contracts are an emerging, promising technology, that has received considerable attention. We use the blockchain technology, and in particular Ethereum, to implement a large-scale event-based Internet of Things (IoT) control system. We argue that the distributed nature of the "ledger," as well as, Ethereum's capability of parallel execution of replicated "smart contracts", provide the sought after automation, generality, flexibility, resilience, and high availability. We design a realistic blockchain-based IoT architecture, using existing technologies while by taking into…
We present an overview of hybrid Casper the Friendly Finality Gadget (FFG): a Proof-of-Stake checkpointing protocol overlaid onto Ethereum's Proof-of-Work blockchain. We describe its core functionalities and reward scheme, and explore its properties. Our findings indicate that Casper's implemented incentives mechanism ensures liveness, while providing safety guarantees that improve over standard Proof-of-Work protocols. Based on a minimal-impact implementation of the protocol as a smart contract on the blockchain, we discuss additional issues related to parametrisation, funding, throughput and…
Bitcoin and Ethereum, whose miners arguably collectively comprise the most powerful computational resource in the history of mankind, offer no more power for processing and verifying transactions than a typical smart phone. The system described herein bypasses this bottleneck and brings scalable computation to Ethereum. Our new system consists of a financial incentive layer atop a dispute resolution layer where the latter takes form of a versatile "verification game." In addition to secure outsourced computation, immediate applications include decentralized mining pools whose operator is an Et…
Programming errors in Ethereum smart contracts can result in catastrophic financial losses from stolen cryptocurrency. While vulnerability detectors can prevent vulnerable contracts from being deployed, this does not mean that such contracts will not be deployed. Once a vulnerable contract is instantiated on the blockchain and becomes the target of attacks, the identification of exploit transactions becomes indispensable in assessing whether it has been actually exploited and identifying which malicious or subverted accounts were involved. In this work, we study the problem of post-factum inve…
Bitcoin and Ethereum are the top two blockchain-based cryptocurrencies whether from cryptocurrency market cap or popularity. However, they are vulnerable to selfish mining and stubborn mining due to that both of them adopt Proof-of-Work consensus mechanism. In this paper, we develop a novel Markov model, which can study selfish mining and seven kinds of stubborn mining in both Bitcoin and Ethereum. The formulas are derived to calculate several key metrics, including relative revenue of miners, blockchain performance in terms of stale block ratio and transactions per second, and blockchain secu…
Decentralization has been widely acknowledged as a core virtue of blockchains. However, in the past, there have been few measurement studies on measuring and comparing the actual level of decentralization between existing blockchains using multiple metrics and granularities. This paper presents a new comparison study of the degree of decentralization in Bitcoin and Ethereum, the two most prominent blockchains, with various decentralization metrics and different granularities within the time dimension. Specifically, we measure the degree of decentralization in the two blockchains during 2019 by…
Ethereum smart contracts are distributed programs running on top of the Ethereum blockchain. Since program flaws can cause significant monetary losses and can hardly be fixed due to the immutable nature of the blockchain, there is a strong need of automated analysis tools which provide formal security guarantees. Designing such analyzers, however, proved to be challenging and error-prone. We review the existing approaches to automated, sound, static analysis of Ethereum smart contracts and highlight prevalent issues in the state of the art. Finally, we overview eThor, a recent static analysis …
Decentralized applications (DApps) gained traction in the context of the blockchain technology. Ethereum is currently the public blockchain that backs the largest amount of the existing DApps. Onboarding new users to Ethereum DApps is a notoriously hard issue to solve. This is mainly caused by lack of cryptocurrency ownership, needed for transaction fees. Several meta-transaction patterns emerged for decoupling users from paying these fees. However, such solutions are mostly offered via off-chain, often paid relayer services and do not fully address the security issues present in the meta-tran…
Half a decade after Bitcoin became the first widely used cryptocurrency, blockchains are receiving considerable interest from industry and the research community. Modern blockchains feature services such as name registration and smart contracts. Some employ new forms of consensus, such as proof-of-stake instead of proof-of-work. However, these blockchains are so far relatively poorly investigated, despite the fact that they move considerable assets. In this paper, we explore three representative, modern blockchains---Ethereum, Namecoin, and Peercoin. Our focus is on the features that set them …
In this paper, we identify a new form of attack, called the Balance attack, against proof-of-work blockchain systems. The novelty of this attack consists of delaying network communications between multiple subgroups of nodes with balanced mining power. Our theoretical analysis captures the precise tradeoff between the network delay and the mining power of the attacker needed to double spend in Ethereum with high probability. We quantify our probabilistic analysis with statistics taken from the R3 consortium, and show that a single machine needs 20 minutes to attack the consortium. Finally, we …
The growing interest in Internet of Things (IoT) and Industrial IoT (IIoT) poses the challenge of finding robust solutions for the certification and notarization of data produced and collected by embedded devices. The blockchain and distributed ledger technologies represent a promising solution to address these issues, but rise other questions, for example regarding their practical feasibility. In fact, IoT devices have limited resources and, consequently, may not be able to easily perform all the operations required to participate in a blockchain. In this paper we propose a minimal architectu…
Ethereum Smart Contracts based on Blockchain Technology (BT) enables monetary transactions among peers on a blockchain network independent of a central authorizing agency. Ethereum Smart Contracts are programs that are deployed as decentralized applications, having the building blocks of the blockchain consensus protocol. This enables consumers to make agreements in a transparent and conflict-free environment. However, there exist some security vulnerabilities within these smart contracts that are a potential threat to the applications and their consumers and have shown in the past to cause hu…
Blockchain relay schemes enable cross-chain state proofs without requiring trusted intermediaries. This is achieved by applying the source blockchain's consensus validation protocol on the target blockchain. Existing chain relays allow for the validation of blocks created using the Proof of Work (PoW) protocol. Since PoW entails high energy consumption, limited throughput, and no guaranteed finality, Proof of Stake (PoS) blockchain protocols are increasingly popular for addressing these shortcomings. We propose Verilay, the first chain relay scheme that enables validating PoS protocols that pr…
