Blockchain front-running involves multiple agents, other than the legitimate agent, claiming a payment from performing … a contract. It arises because of the public nature of blockchain transactions and potential network congestion. This … eliminates blockchain front-running. In each case, the mechanism relies on threats to remove ownership from all claimants and …

participants on the blockchain. Second, we document the concentration and regional composition of the miners which are the backbone … of the verification protocol and ensure the integrity of the blockchain ledger. Finally, we analyze the ownership …

When is record-keeping better arranged through a blockchain than through a traditional centralized intermediary? The … out a blockchain trilemma: no ledger can satisfy all three properties simultaneously. A centralized record-keeper extracts …

versus stock) if both (i) the mining technology used to run the blockchain is both scarce and non-repurposable, and (ii) any …, these two equations imply that (3) the recurring, "flow", payments to miners for running the blockchain must be large … majority attack is a "sabotage" in that it causes a collapse in the economic value of the blockchain; however, reliance on non …

We rely on economic theory to discuss how blockchain technology will shape innovation in digital platforms. We identify … two key costs affected by the technology: 1) the cost of verification; and 2) the cost of networking. The first cost … operate a digital marketplace without the need for a traditional intermediary. A blockchain allows a decentralized network of …

, 2022, other large traders followed. Blockchain technology allowed investors to monitor each other's actions and amplified … wiped out $50 billion in valuation. At the center of the collapse was a run on a blockchain-based borrowing and lending … protocol (Anchor) that promised high yields to its stablecoin (UST) depositors. Using detailed data from the Terra blockchain …