BatPay: a gas efficient protocol for the recurrent micropayment of ERC20 tokens

• URL: http://arxiv.org/abs/2002.02316v1
• Date: Thu, 6 Feb 2020 15:43:52 GMT
• Title: BatPay: a gas efficient protocol for the recurrent micropayment of ERC20 tokens
• Authors: Hartwig Mayer, Ismael Bejarano, Daniel Fernandez, Gustavo Ajzenman, Nicolas Ayala, Nahuel Santoalla, Carlos Sarraute, Ariel Futoransky
• Abstract summary: BatPay is a proxy scaling solution for the transfer of ERC20 tokens. It is suitable for micropayments in one-to-many and few-to-many scenarios.
• Score: 0.35132824436572674
• License: http://creativecommons.org/licenses/by-nc-sa/4.0/
• Abstract: BatPay is a proxy scaling solution for the transfer of ERC20 tokens. It is suitable for micropayments in one-to-many and few-to-many scenarios, including digital markets and the distribution of rewards and dividends. In BatPay, many similar operations are bundled together into a single transaction in order to optimize gas consumption on the Ethereum blockchain. In addition, some costly verifications are replaced by a challenge game, pushing most of the computing cost off-chain. This results in a gas reduction of the transfer costs of three orders of magnitude, achieving around 1700 transactions per second on the Ethereum blockchain. Furthermore, it includes many relevant features, like meta-transactions for end-user operation without ether, and key-locked payments for atomic exchange of digital goods.

Related papers

• IT Strategic alignment in the decentralized finance (DeFi): CBDC and digital currencies [49.1574468325115]
  Decentralized finance (DeFi) is a disruptive-based financial infrastructure. This paper seeks to answer two main questions 1) What are the common IT elements in the DeFi? And 2) How the elements to the IT strategic alignment in DeFi?
  arXiv  Detail & Related papers  (2024-05-17T10:19:20Z)
• The Writing is on the Wall: Analyzing the Boom of Inscriptions and its Impact on Rollup Performance and Cost Efficiency [7.394726159860848]
  We study the first study during a heightened activity during the late 2023 transaction boom. We observe that minting inscription-based meme tokens on zkSync Era allows for trading at a fraction of the costs. Unlike L1 blockchains, ZK rollups may experience lower gas fees with increased transaction volume. The introduction of blobs - a form of temporary data storage - decreased the gas costs of rollups, but also raised a number of questions about the security of inscription-based tokens.
  arXiv  Detail & Related papers  (2024-04-17T09:08:42Z)
• Lazy Contracts: Alleviating High Gas Costs by Secure and Trustless Off-chain Execution of Smart Contracts [0.0]
  In most programmable blockchains, the notion of gas is introduced to prevent DoS attacks. A fixed cost to each atomic operation, and the initiator of a function call pays the total gas cost as a transaction fee. This thesis proposes "lazy contracts" as a solution to alleviate these costs.
  arXiv  Detail & Related papers  (2023-09-20T13:41:45Z)
• Masquerade: Simple and Lightweight Transaction Reordering Mitigation in Blockchains [5.690884793952696]
  We propose an MEV aware protocol design called Masquerade to increase user satisfaction and confidence in the system. We introduce the notion of a "token" to mitigate the actions taken by an adversary in an attack scenario.
  arXiv  Detail & Related papers  (2023-08-29T14:42:43Z)
• Blockchain Large Language Models [65.7726590159576]
  This paper presents a dynamic, real-time approach to detecting anomalous blockchain transactions. The proposed tool, BlockGPT, generates tracing representations of blockchain activity and trains from scratch a large language model to act as a real-time Intrusion Detection System.
  arXiv  Detail & Related papers  (2023-04-25T11:56:18Z)
• Uniswap Liquidity Provision: An Online Learning Approach [49.145538162253594]
  Decentralized Exchanges (DEXs) are new types of marketplaces leveraging technology. One such DEX, Uniswap v3, allows liquidity providers to allocate funds more efficiently by specifying an active price interval for their funds. This introduces the problem of finding an optimal strategy for choosing price intervals. We formalize this problem as an online learning problem with non-stochastic rewards.
  arXiv  Detail & Related papers  (2023-02-01T17:21:40Z)
• TxAllo: Dynamic Transaction Allocation in Sharded Blockchain Systems [37.22526235663589]
  This paper focuses on the transaction allocation problem to reduce the number of cross-shard transactions. A deterministic and fast allocation scheme TxAllo is proposed to dynamically infer the allocation of accounts. For a blockchain with 60 shards, TxAllo reduces the cross-shard transaction ratio from 98% to about 12%.
  arXiv  Detail & Related papers  (2022-12-22T10:22:31Z)
• Token Spammers, Rug Pulls, and SniperBots: An Analysis of the Ecosystem of Tokens in Ethereum and in the Binance Smart Chain (BNB) [50.888293380932616]
  We study the ecosystem of the tokens and liquidity pools. We find that about 60% of tokens are active for less than one day. We estimate that 1-day rug pulls generated $240 million in profits.
  arXiv  Detail & Related papers  (2022-06-16T14:20:19Z)
• Quantum-resistance in blockchain networks [46.63333997460008]
  This paper describes the work carried out by the Inter-American Development Bank, the IDB Lab, LACChain, Quantum Computing (CQC), and Tecnologico de Monterrey to identify and eliminate quantum threats in blockchain networks. The advent of quantum computing threatens internet protocols and blockchain networks because they utilize non-quantum resistant cryptographic algorithms.
  arXiv  Detail & Related papers  (2021-06-11T23:39:25Z)
• Quantum Multi-Solution Bernoulli Search with Applications to Bitcoin's Post-Quantum Security [67.06003361150228]
  A proof of work (PoW) is an important cryptographic construct enabling a party to convince others that they invested some effort in solving a computational task. In this work, we examine the hardness of finding such chain of PoWs against quantum strategies. We prove that the chain of PoWs problem reduces to a problem we call multi-solution Bernoulli search, for which we establish its quantum query complexity.
  arXiv  Detail & Related papers  (2020-12-30T18:03:56Z)
• On Blockchain Metatransactions [0.0]
  We formalize metatransactions, review existing ideas, and describe novel metatransaction design approaches. Under the assumption of sufficient market liquidity, we argue that metatransactions do not lower the security of cryptocurrency platforms.
  arXiv  Detail & Related papers  (2020-04-17T07:38:11Z)

This list is automatically generated from the titles and abstracts of the papers in this site.

This site does not guarantee the quality of this site (including all information) and is not responsible for any consequences.