Etherless Ethereum tokens: Simulating native tokens in Ethereum

【Author】 Andrews, John; Ciampi, Michele; Zikas, Vassilis

【Source】JOURNAL OF COMPUTER AND SYSTEM SCIENCES

【影响因子】1.043

【Abstract】Standardized Ethereum tokens, e.g., ERC-20 tokens, have become the norm in fundraising (through ICOs) and kicking off blockchain-based DeFi applications. However, they require the user's wallet to hold both tokens and ether to pay the gas fee for making a transaction. This makes for a cumbersome user experience, and complicates, from the user perspective, the process of transitioning to a different smart-contract enabled blockchain, or to a newly launched blockchain. We formalize, instantiate, and analyze in a composable manner a system that we call Etherless Ethereum Tokens (in short, EETs), which allows the token users to transact in a closed-economy manner, i.e., having only tokens on their wallet and paying any transaction fees in tokens rather than Ether/Gas. In the process, we devise a methodology for capturing Ethereum token-contracts in the Universal Composability (UC) framework, which can be of independent interest.(c) 2023 The Author(s). Published by Elsevier Inc. This is an open access article under the CC BY license (http://creativecommons .org /licenses /by /4 .0/).

【Keywords】Blockchain; Tokens; Universal composition; Ledger

【发表时间】2023 AUG

【收录时间】2023-06-14

【文献类型】理论模型

【主题类别】

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