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Order but Not Execute in Order. (arXiv:2302.01177v1 [cs.CR])
cs.CR updates on arXiv.org arxiv.org
We explore combining batch order-fair atomic broadcast (of-ABC) and frequent
batch auction (FBA) as a defense against general order manipulations in
blockchain-based decentralized exchanges (DEX). To justify FBA, we compare the
welfare loss of decentralized exchanges under two market designs: continuous
limit order book (CLOB), where transactions are processed sequentially, and
FBA, where transactions are arranged into batches and a uniform price double
auction decides execution order. We model three types of players, common
investors, privately informed traders, and arbitrageurs …
abc auction batch blockchain book continuous decentralized defense dex fair general loss market order transactions types under welfare