We propose a framework for the fundamental valuation of utility tokens. Our model endogenizes the velocity of circulation of tokens and yields a pricing formula that is fully microfounded. According to our model, tokens are valuable because they have to...

It is widely believed that financial markets cannot be liquid without centralised processes to manage counterparty risk. We propose an alternative method for liquidity based on reversible and composable contracts run atop a blockchain. Novel instruments for zero-collateral intermediation can...

A double-authentication preventing signature(DAPS)scheme is a digital signature scheme equipped with a self-enforcement mechanism. Messages consist of an address and a payload component, and a signer is penalized if she signs two messages with the same addresses but different payloads...

In the recent years, many research lines on Functional Encryption (FE) have been suggested and studied regarding the functionality, security, or efficiency. These studies include quadratic FE, multi-client FE, function-hiding FE, dynamic FE and much more. Nevertheless, an open problem...

Tokenomics is an international forum for theory, design, analysis, implementation and applications of blockchains and smart contracts. The goal of the conference is to bring together economists, computer science researchers and practitioners working on blockchains in a unique program featuring...

The nascent economic crisis is highlighting the need to rely on creative policy responses. Helicopter money appears to be one of the few untried monetary tool. Central Bank Digital Currencies (CBDCs) based on Distributed Ledger Technologies (DLTs) would provide the...

We propose a model which uses the exchange rate of Bitcoin against the US dollar to predict the computing power of Bitcoin network. We show that free entry places an upper-bound on mining revenues and we devise a structural framework...

In a recent work by Augot et al. (2017), a scheme is proposed to build an identity system on top of the Bitcoin network. However, this proposal incurs very high costs since Bitcoin transactions require heavy fees. The current work...

Committee-based blockchains are among the most popular alternatives of proof-of-work based blockchains, such as Bitcoin. They provide strong consistency (no fork) under classical assumptions, and avoid using energy-consuming mechanisms to add new blocks in the blockchain. For each block, these...

We show that the single-server computational PIR protocol proposed by Holzbaur, Hol- lanti and Wachter-Zeh in is not private, in the sense that the server can recover in polynomial time the index of the desired file with very high...