‘Cryptoeconomic Attacks’ are malicious actions that exploit the economic incentives and game-theoretic properties of a blockchain or decentralized system to disrupt its operation or gain illicit advantage. These attacks leverage the design of tokenomics and consensus mechanisms, often by acquiring significant network resources or manipulating market conditions. The goal is typically to compromise the network’s security, integrity, or fairness, rather than solely relying on traditional computational hacking. Understanding these vulnerabilities is paramount for securing decentralized networks.
Context
The ongoing analysis of cryptoeconomic attacks frequently examines recent incidents involving large-scale manipulation of decentralized finance (DeFi) protocols or consensus layer exploits. Key debates revolve around the effectiveness of existing incentive structures in deterring such attacks and the potential for novel attack vectors as systems grow more complex. Future developments to monitor include advancements in formal verification for smart contracts and the design of more robust economic security models.
This research establishes a formal, abstract model for Maximal Extractable Value, providing the foundational theory necessary for provably secure blockchain designs.
This theory formally defines Maximal Extractable Value, offering a robust framework for proving smart contract security and clarifying adversarial extraction in blockchains.
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