2024/11/15 by Zhuolun Li, Evangelos Pournaras, Li, Zhuolun +1 · 1 citation
Social Sciences · #Cybersecurity and Cyber Warfare Studies
paper · pdf · doi:10.48550/arxiv.2411.09981
Distributed ledger systems, such as blockchains, rely on consensus protocols that commit ordered messages for processing. In practice, message ordering within these systems is often reward-driven. This raises concerns about fairness, particularly in decentralized finance applications, where nodes can exploit transaction orders to maximize rewards referred to as Maximal Extractable Value. This paper provides a systematic understanding of consensus protocols that order messages with different approaches, especially focusing on the ones that promote order fairness, using methods including First-In-First-Out (FIFO), random, and blind ordering. We review the challenges and trade-offs of deriving fair message ordering in a Byzantine fault-tolerant setting, and summarize the requirements for making a fair message ordering consensus protocol. We introduce a design guideline, with which we propose a latency optimization to the state-of-the-art FIFO ordering protocol of Themis. This work provides a systematic way for assessing and enhancing message order fairness in blockchain systems.