Month: August 2025

The Impossibility Theorem Behind Truthful Blockchain Bidding Mechanisms

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Table of Links Abstract and 1. Introduction 1.1 Our Contributions 1.2 TFM Incentive-Compatibility Notions: A Cheat Sheet Definitions 2.1 Transaction Fee Mechanism 2.2 Incentive Compatibility Notions Preliminary: Myerson’s Lemma Warmup: Impossibility of UIC + MIC + Global SCP for Deterministic Mechanisms Impossibility of UIC + MIC + Global SCP for Randomized Mechanisms and 5.1 Proof … Read more

No Blockchain Auction Can Satisfy UIC, MIC, and Global SCP at Once

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Table of Links Abstract and 1. Introduction 1.1 Our Contributions 1.2 TFM Incentive-Compatibility Notions: A Cheat Sheet Definitions 2.1 Transaction Fee Mechanism 2.2 Incentive Compatibility Notions Preliminary: Myerson’s Lemma Warmup: Impossibility of UIC + MIC + Global SCP for Deterministic Mechanisms Impossibility of UIC + MIC + Global SCP for Randomized Mechanisms and 5.1 Proof … Read more

What Is a Transaction Fee Mechanism? Definitions, Incentives, and Strategies

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Table of Links Abstract and 1. Introduction 1.1 Our Contributions 1.2 TFM Incentive-Compatibility Notions: A Cheat Sheet Definitions 2.1 Transaction Fee Mechanism 2.2 Incentive Compatibility Notions Preliminary: Myerson’s Lemma Warmup: Impossibility of UIC + MIC + Global SCP for Deterministic Mechanisms Impossibility of UIC + MIC + Global SCP for Randomized Mechanisms and 5.1 Proof … Read more

Why No Transaction Fee Mechanism Can Truly Be Collusion-Proof

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Table of Links Abstract and 1. Introduction 1.1 Our Contributions 1.2 TFM Incentive-Compatibility Notions: A Cheat Sheet Definitions 2.1 Transaction Fee Mechanism 2.2 Incentive Compatibility Notions Preliminary: Myerson’s Lemma Warmup: Impossibility of UIC + MIC + Global SCP for Deterministic Mechanisms Impossibility of UIC + MIC + Global SCP for Randomized Mechanisms and 5.1 Proof … Read more

Why Truthful Blockchain Mechanisms Fail Under Finite Block Sizes

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Table of Links Abstract and 1. Introduction 1.1 Our Contributions 1.2 TFM Incentive-Compatibility Notions: A Cheat Sheet Definitions 2.1 Transaction Fee Mechanism 2.2 Incentive Compatibility Notions Preliminary: Myerson’s Lemma Warmup: Impossibility of UIC + MIC + Global SCP for Deterministic Mechanisms Impossibility of UIC + MIC + Global SCP for Randomized Mechanisms and 5.1 Proof … Read more

Why the Perfect Blockchain Fee Mechanism May Be Impossible

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:::info Authors: (1) Hao Chung∗, Carnegie Mellon University (haochung@andrew.cmu.edu); (2) Tim Roughgarden†, Columbia University and a16z (crypto tim.roughgarden@gmail.com); (3) Elaine Shi∗, Carnegie Mellon University (runting@cs.cmu.edu). ::: Table of Links Abstract and 1. Introduction 1.1 Our Contributions 1.2 TFM Incentive-Compatibility Notions: A Cheat Sheet Definitions 2.1 Transaction Fee Mechanism 2.2 Incentive Compatibility Notions Preliminary: Myerson’s Lemma … Read more

Higher Bitcoin ETF Options Limits May Cut Volatility, but Boost Spot Demand: NYDIG

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Bitcoin’s trademark volatility may be entering a new phase thanks to the Securities and Exchange Commission (SEC). The agency’s decision to raise position limits on options for most bitcoin ETFs could help smooth price swings by encouraging strategies like covered call selling, which caps the upside in exchange for steady income, according to NYDIG Research. … Read more

SDG LAB Venture Fund Backs Virtual Intimacy with $20 Million — But Will It Work?

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In an age of hyperconnectivity, Europe faces an unexpected crisis: loneliness. The EU Loneliness Survey 2022 reveals that 13% of Europeans feel lonely most or all the time, while 35% experience it regularly. Despite the digital revolution, authentic human connection seems to be unraveling—replaced by surface-level engagements that lack emotional resonance. This paradox lies at … Read more