Etherless Ethereum tokens: Simulating native tokens in Ethereum

John Andrews, Michele Ciampi*, Vassilis Zikas

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

Abstract / Description of output

Standardized Ethereum tokens, e.g., ERC-20 tokens, have become the norm in fundraising (through ICOs) and kicking off blockchain-based DeFi applications. However, they require the user's wallet to hold both tokens and ether to pay the gas fee for making a transaction. This makes for a cumbersome user experience, and complicates, from the user perspective, the process of transitioning to a different smart-contract enabled blockchain, or to a newly launched blockchain. We formalize, instantiate, and analyze in a composable manner a system that we call Etherless Ethereum Tokens (in short, EETs), which allows the token users to transact in a closed-economy manner, i.e., having only tokens on their wallet and paying any transaction fees in tokens rather than Ether/Gas. In the process, we devise a methodology for capturing Ethereum token-contracts in the Universal Composability (UC) framework, which can be of independent interest.

Original languageEnglish
Pages (from-to)55-72
Number of pages18
JournalJournal of Computer and System Sciences
Volume135
DOIs
Publication statusPublished - 3 Mar 2023

Keywords / Materials (for Non-textual outputs)

  • Blockchain
  • Ledger
  • Tokens
  • Universal composition

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  • Etherless Ethereum Tokens: Simulating Native Tokens in Ethereum

    Andrews, J., Ciampi, M. & Zikas, V., 23 Jun 2022, Cyber Security, Cryptology, and Machine Learning - 6th International Symposium, CSCML 2022, Proceedings. Dolev, S., Meisels, A. & Katz, J. (eds.). Springer, Cham, p. 388-407 20 p. (Lecture Notes in Computer Science; vol. 13301).

    Research output: Chapter in Book/Report/Conference proceedingConference contribution

    Open Access
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