Paper 2023/1034

Transaction Fairness in Blockchains, Revisited

Abstract

With the growing number of decentralized finance (DeFi) applications, transaction fairness in blockchains has gained much research interest. As a broad concept in distributed systems and blockchains, fairness has been used in different contexts, varying from ones related to the liveness of the system to ones that focus on the received order of transactions. In this work, we revisit the fairness definitions and find that existing fairness definitions are not adapted to blockchains with multiple DApps. We then provide a more generic one called verifiable fairness. Compared with prior definitions, our notion has two unique features: (i) it relaxes the ordering rules to a predicate; (ii) it enables users to independently verify if their transactions comply with the predicate for concrete applications. We also provide a scheme that achieves verifiable fairness, leveraging trusted hardware. Unlike prior works that usually design a dedicated consensus protocol to achieve fairness, our scheme can be integrated with any blockchain system. Our evaluation results on Amazon EC2 using up to 120 instances across different regions show that our construction imposes only minimal overhead on existing blockchain systems.