Performance Benchmarking of Smart Contracts to Assess Miner Incentives in Ethereum

Aldweesh, Amjad; Alharby, Maher; Solaiman, Ellis; Moorsel, Aad van

doi:10.1109/edcc.2018.00034

Cited by 29 publications

(16 citation statements)

References 7 publications

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“…Besides the general performance metrics evaluation, there are also studies focusing on specific metrics for particular blockchain. For example, OpBench [62] and another benchmark framework [63] are proposed to evaluate if a miner's award is proportional against to the CPU execution time or consumed computation power for Ethereum smart contracts.…”

Section: A Blockchain Benchmarking Toolsmentioning

confidence: 99%

Performance Evaluation of Blockchain Systems: A Systematic Survey

et al. 2020

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Blockchain has been envisioned to be a disruptive technology with potential for applications in various industries. As more and more different blockchain platforms have emerged, it is essential to assess their performance in different use cases and scenarios. In this paper, we conduct a systematic survey on the blockchain performance evaluation by categorizing all reviewed solutions into two general categories, namely, empirical analysis and analytical modelling. In the empirical analysis, we comparatively review the current empirical blockchain evaluation methodologies, including benchmarking, monitoring, experimental analysis and simulation. In analytical modelling, we investigate the stochastic models applied to performance evaluation of mainstream blockchain consensus algorithms. Through contrasting, comparison and grouping different methods together, we extract important criteria that can be used for selecting the most suitable evaluation technique for optimizing the performance of blockchain systems based on their identified bottlenecks. Finally, we conclude the survey by presenting a list of possible directions for future research.

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Section: A Blockchain Benchmarking Toolsmentioning

confidence: 99%

Performance Evaluation of Blockchain Systems: A Systematic Survey

et al. 2020

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“…The incentive model is essential to maintain any permissionless blockchain system. Incentives should compensate miners fairly for their work and motivate them to behave honestly (Aldweesh et al, 2018;. The incentives also protect the blockchain system from various attacks (e.g., DDoS attacks in Ethereum, Buterin, 2016) and against malicious behaviors of the nodes (e.g., selfish mining strategies, Eyal and Sirer, 2018).…”

Section: Incentives Layermentioning

confidence: 99%

“…For blocks, we include the attributes of Gas Limit and Used Gas. We refer to the literature, e.g., Wood, 2014;Alharby and Van Moorsel, 2017 for details, but in short, Used Gas multiplied by the Gas Price corresponds to the fee the miner receives, where Used Gas depends on the computational requirements of the smart contract (Aldweesh et al, 2018), but never exceeds Gas Limit.…”

Section: Ethereum In Blocksimmentioning

confidence: 99%

BlockSim: An Extensible Simulation Tool for Blockchain Systems

Alharby

Moorsel

2020

Front. Blockchain

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Both in the design and deployment of blockchain solutions many performance-impacting configuration choices need to be made. We introduce BlockSim, a framework and software tool to build and simulate discrete-event dynamic systems models for blockchain systems. BlockSim is designed to support the analysis of a large variety of blockchains and blockchain deployments as well as a wide set of analysis questions. At the core of BlockSim is a Base Model, which contains the main model constructs common across various blockchain systems organized in three abstraction layers (network, consensus, and incentives layer). The Base Model is usable for a wide variety of blockchain systems and can be extended easily to include system or deployment particulars. The BlockSim software tool provides a simulator that implements the Base Model in Python. The paper describes the Base Model, the simulator implementation, and the application of BlockSim to Bitcoin, Ethereum and other consensus algorithms. We validate BlockSim simulation results by comparison with performance results from actual systems and from other studies in the literature. We close the paper by a BlockSim simulation study of the impact of uncle blocks rewards on mining decentralization, for a variety of blockchain configurations.

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“…The corresponding cryptocurrency on Ethereum, known as Ether, can be transferred between accounts and used to compensate participant mining nodes. Current research about Ethereum mainly focus on security and performance issues of the blockchain technology [2], [3], [4], however, the interative relationship between users and smart contracts is relatively unexplored till now.…”

Section: Introductionmentioning

confidence: 99%

Modeling and Understanding Ethereum Transaction Records via a Complex Network Approach

Lin

Yuan

et al. 2020

IEEE Trans. Circuits Syst. II

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As the largest public blockchain-based platform supporting smart contracts, Ethereum has accumulated a large number of user transaction records since its debut in 2014. Analysis of Ethereum transaction records, however, is still relatively unexplored till now. Modeling the transaction records as a static simple graph, existing methods are unable to accurately characterize the temporal and multiplex features of the edges. In this brief, we first model the Ethereum transaction records as a complex network by incorporating time and amount features of the transactions, and then design several flexible temporal walk strategies for random-walk based graph representation of this large-scale network. Experiments of temporal link prediction on real Ethereum data demonstrate that temporal information and multiplicity characteristic of edges are indispensable for accurate modeling and understanding of Ethereum transaction networks.

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Performance Benchmarking of Smart Contracts to Assess Miner Incentives in Ethereum

Cited by 29 publications

References 7 publications

Performance Evaluation of Blockchain Systems: A Systematic Survey

Performance Evaluation of Blockchain Systems: A Systematic Survey

BlockSim: An Extensible Simulation Tool for Blockchain Systems

Modeling and Understanding Ethereum Transaction Records via a Complex Network Approach

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