Off-chain influence proofness refers to the ability to cryptographically verify actions or data that occur outside a blockchain network, then securely attest to their validity on-chain. This mechanism allows decentralized applications to react to real-world events or leverage external data without compromising security. It bridges the gap between the digital ledger and external information sources. Such proofs are essential for oracle systems.
Context
Off-chain influence proofness is a critical area of development for decentralized finance (DeFi) and broader Web3 applications, frequently discussed in blockchain technology news. Debates often concern the security and reliability of oracle networks, which are responsible for providing these verifiable off-chain data feeds. A key development to watch is the ongoing research into more robust and decentralized oracle solutions that minimize trust assumptions. This technology is vital for expanding the utility of smart contracts beyond purely on-chain data.
This research introduces off-chain influence proofness, demonstrating EIP-1559's vulnerability to censorship threats and proving fundamental limits on TFM design.
The Cryptographic Second Price Auction uses encrypted bids to eliminate the miner's informational advantage, achieving a truly incentive-compatible, collusion-proof transaction ordering mechanism.
The Cryptographic Second-Price Auction (C2PA) uses encrypted bids to decouple transaction value from block production, ensuring credible neutrality and mitigating MEV.
A new 'off-chain influence proofness' criterion exposes EIP-1559's vulnerability, necessitating a cryptographic second-price auction with on-chain miner reserves.
The Cryptographic Second-Price Auction (C2PA) overcomes TFM impossibility by encrypting user bids, eliminating miner off-chain influence and achieving strategic simplicity.
A new cryptographic auction model with miner-set reserves establishes 'Off-Chain Influence Proofness,' mitigating hidden MEV and redefining transaction fee mechanism design.
A new 'off-chain influence proofness' property challenges EIP-1559's security, proving a cryptographic second-price auction is required for true incentive-compatibility.
A new cryptographic second-price auction enforces off-chain influence proofness, fundamentally securing transaction fee mechanisms against miner censorship and rent-seeking.
A new impossibility theorem proves no transaction fee mechanism can simultaneously satisfy all prior properties and be resistant to off-chain miner influence.
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