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Greetings IC3 Friends😊!
In this summer edition, we present you with new research, upcoming events, latest community developments, exciting opportunity to contribute to IC3 research and more! Enjoy reading! 😎
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Formalizing Soundness Proofs of SNARKs by Bolton Bailey (UIUC, IC3) and Andrew Miller (UIUC, IC3):
- By focusing on the soundness of a widespread class of Succinct Non-interactive Arguments of Knowledge (SNARKs), the authors formalized proofs for six different constructions to increase the rigor of these proofs.
Crypto Wash Trading by Lin William Cong (Cornell, IC3), Xi Li (University of Reading, University of Newcastle), Ke Tang (Tsinghua University) and Yang Yang (Tsinghua University):
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The authors presented systematic tests using robust statistical and trading behavior patterns to detect fake transactions on 29 cryptocurrency exchanges. They quantified the wash trading on each unregulated exchange and further documented how these fabricated volumes improve exchange ranking, temporarily distort prices, and affect exchange characteristics such as user properties, market conditions, and regulation. The paper has served as a foundation for multiple regulator litigation cases. It’s also one early whistleblower that established wide-spread market manipulation in crypto, a series of investigations, and third-party ranking methodology changes over the past few years.
Tax-Loss Harvesting with Cryptocurrencies by Lin William Cong
(Cornell, IC3), Wayne R. Landsman (University of North Carolina), Edward L. Maydew (University of North Carolina at Chapel Hill), Daniel Rabetti
(Tel Aviv University; National University of Singapore (NUS):
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The authors described the taxation landscape in the crypto markets, especially for U.S. taxpayers, and they examined how recent increases in tax scrutiny have led to trading behavior changes of crypto traders. Additionally, the authors discussed new gray areas for tax regulation in new crypto assets such as NFTs and DeFi protocols. The paper is forthcoming on the Journal of Accounting and Economics to show that individuals use cryptocurrency wash trading to do tax-loss harvesting. It is also among the earliest accounting study of cryptocurrencies.
Colordag: An Incentive-Compatible Blockchain by Ittai Abraham (VMware Research), Danny Dolev (The Hebrew University of Jerusalem), Ittay Eyal (Technion, IC3) and Joseph Halpern (Cornell):
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The authors proposed a more robust approach called epsilon-sure Nash equilibrium, in which each miner's behavior is almost always a strict best response. They also introduced Colordag, the first blockchain protocol that is an epsilon-sure Nash equilibrium for miners with less than 1/2 of the mining power. This paper is accepted in the upcoming DISC conference. See the blog post version here.
Gorilla: Safe Permissionless Byzantine Consensus (Public source not available yet, see the following abstract) by Youer Pu (Cornell, IC3), Ali Farahbakhsh (Cornell), Lorenzo Alvisi (Cornell, IC3) and Ittay Eyal (Technion, IC3):
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The authors presented Gorilla Sandglass, the first Byzantine tolerant consensus protocol to guarantee, in the same synchronous model adopted by Nakamoto, deterministic agreement and termination with probability 1 in a permissionless setting. They proved the correctness of Gorilla by mapping executions that would violate agreement or termination in Gorilla to executions in Sandglass, where such violations are impossible. Establishing termination proves particularly interesting, as the mapping requires reasoning about infinite executions and their probabilities. This paper is accepted in the upcoming DISC conference.
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Prof. Ittay Eyal and fellow IC3 researchers will be presenting the following research at the upcoming Science of Blockchain Conference (SBC) 2023:
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Prof. Lin William Cong delivered the keynote speech at #ChainScience2023: "Blockchain Big Data for Forensic Finance and Understanding Inclusion and Interoperability". | |
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🌟Contribute to IC3 Research!
IC3 researchers from University of Illinois Urbana-Champaign (UIUC) and the University of California, Berkeley are recruiting adults who have any level of experience using crypto wallets (e.g., MetaMask, MyEtherWallet, etc) to participate in an experiment lasting about 90 minutes, in which participants will be asked to try out a new wallet design and describe their experience. There is a $30 reward for each participant upon completion of the study. If you are interested in participating, please complete this brief survey (3 mins). We will contact you if you are eligible for our study! If you have any questions, feel free to contact the PI at tsharma6@illinois.edu.
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🌟New Uniswap Foundation Research Program TLDR is Accepting Research Proposals:
TLDR is the latest DeFi research community that support innovative researchers through conference and fellowship. With financial stipend, mentorship and networking opportunities all at once, the program is now open for research proposal submission by August 15th. Learn more and apply here. IC3 PhD student Ariah Klages-Mundt (Cornell) and IC3 Research Program Manager Sarah Allen are part of the TLDR Research Council.
| 🌟Arbitrum Foundation Lauched Arbitrum Foundation Grants Phase 1: Designed to support DAO initiatives, the program provides financial support for builders using Arbitrum. See details here. | |
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🌟The Privacy4Web3 Hackathon by Oasis Protocol is open for participants!
Join this 8-week hackathon experience to add dynamic privacy to any dApp on any EVM chain with the Oasis Privacy Layer and get rewarded! See details here.
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Crypto 2023: Crypto 2023 will be at UCSB in Santa Barbara, California from August 19 to August 24, 2023. IC3 faculty Sarah Meiklejohn, alum Philipp Jovanovic and their team will deliver the following presentation: Bingo: Adaptivity and Asynchrony in Verifiable Secret Sharing and Distributed Key Generation. Registration is open here! |
Chainlink SmartCon 2023: Get ready for IC3 industry partner Chainlink's signature event SmartCon in Barcelona, Spain from October 2-3, 2023. Ticket registration can be found here!
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Please send any new research or presentations to jh2584@cornell.edu to be included in the next research update. Thanks for reading and enjoy summer breeze!
Best wishes,
Bria Han
IC3 Community Manager
LinkedIn | Twitter | initc3.org
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The Initiative for Cryptocurrencies and Contracts (IC3)
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