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arXiv 2201.05574econ.GNcs.CRcs.DCcs.GTq-fin.EC
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EIP-1559的实证分析:交易费用、等待时间与共识安全

Empirical Analysis of EIP-1559: Transaction Fees, Waiting Time, and Consensus Security

Yulin Liu, Yuxuan Lu, Kartik Nayak, Fan Zhang, Luyao Zhang, Yinhong Zhao

AI总结:

本研究利用以太坊链上、内存池及交易所数据,实证分析EIP-1559对交易费用、等待时间及共识安全的影响,发现其改善用户体验但影响有限,并揭示价格波动与区块大小的影响,为TFM改进提供方向。

摘要:

交易费用机制(TFM)是区块链协议的重要组成部分。然而,对TFM在现实世界影响的系统性评估仍然缺乏。利用来自以太坊区块链、内存池和交易所的丰富数据,我们研究了EIP-1559(最早部署的、偏离传统第一价格拍卖范式的TFM之一)的影响。我们进行了严谨而全面的实证研究,以检验其对区块链交易费用动态、交易等待时间和共识安全的因果效应。我们的结果表明,EIP-1559通过缓解区块内支付汽油价格(gas price)的差异并减少用户的等待时间,改善了用户体验。然而,EIP-1559对汽油费用水平和共识安全的影响较小。此外,我们发现当以太币(Ether)价格波动更大时,等待时间显著增加。我们还验证了更大的区块大小会增加兄弟区块(siblings)的出现。这些发现为改进TFM提出了新的方向。

英文摘要:

A transaction fee mechanism (TFM) is an essential component of a blockchain protocol. However, a systematic evaluation of the real-world impact of TFMs is still absent. Using rich data from the Ethereum blockchain, the mempool, and exchanges, we study the effect of EIP-1559, one of the earliest-deployed TFMs that depart from the traditional first-price auction paradigm. We conduct a rigorous and comprehensive empirical study to examine its causal effect on blockchain transaction fee dynamics, transaction waiting times, and consensus security. Our results show that EIP-1559 improves the user experience by mitigating intrablock differences in the gas price paid and reducing users' waiting times. However, EIP-1559 has only a small effect on gas fee levels and consensus security. In addition, we find that when Ether's price is more volatile, the waiting time is significantly higher. We also verify that a larger block size increases the presence of siblings. These findings suggest new directions for improving TFMs.

机构、总结、中文摘要均由AI分析而来,可能存在错误,请以论文正文为准。

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