Blockchain systems come with the promise of being inclusive for a variety of decentralized applications (DApps) that can serve different purposes and have different urgency requirements. Despite this, the transaction fee mechanisms currently deployed in popular platforms as well as previous modeling attempts for the associated mechanism design problem focus on an approach that favors increasing prices in favor of those clients who value immediate service during periods of congestion. To address this issue, we introduce a model that captures the traffic diversity of blockchain systems and a tiered pricing mechanism that is capable of implementing more inclusive transaction policies. In this model, we demonstrate formally that EIP-1559, the transaction fee mechanism currently used in Ethereum, is not inclusive and demonstrate experimentally that its prices surge horizontally during periods of congestion. On the other hand, we prove formally that our mechanism achieves stable prices in expectation and we provide experimental results that establish that prices for transactions can be kept low for low urgency transactions, resulting in a diverse set of transaction types entering the blockchain. At the same time, perhaps surprisingly, our mechanism does not necessarily sacrifice revenue since the lowering of the prices for low urgency transactions can be covered from high urgency ones due to the price discrimination ability of the mechanism.
翻译:区块链系统承诺包容各类服务于不同目的且具有不同紧迫性需求的去中心化应用(DApps)。然而,当前主流平台部署的交易费用机制以及相关机制设计问题的先前建模尝试,都侧重于一种在拥堵期间优先提高价格以迎合那些重视即时服务的客户的方法。为解决此问题,我们引入了一个捕捉区块链系统流量多样性的模型,以及一种能够实现更具包容性交易策略的分层定价机制。在该模型中,我们正式证明了当前以太坊使用的交易费用机制EIP-1559不具备包容性,并实验表明其价格在拥堵期间水平飙升。另一方面,我们正式证明了我们的机制在期望意义上实现了价格稳定,并通过实验结果证明,低紧迫性交易的价格可保持较低,从而使得多样化的交易类型能够进入区块链。同时,令人惊讶的是,我们的机制未必会牺牲收入,因为由于该机制的差别定价能力,低紧迫性交易的价格降低可由高紧迫性交易弥补。