01-30, 15:45–16:25 (Europe/Zurich), Beacon Stage
The complex dynamics and interactions within multi-layer blockchain architecture present unique challenges for decentralized finance (DeFi). To fully understand and address these challenges, it is essential to examine the interplay between various blockchain layers. One example of this interplay is maximal extractable value (MEV), which largely originates from DeFi applications. The value associated with MEV exerts centralizing forces and introduces security vulnerabilities at the consensus layer.
At the same time, these forces can operate in opposing directions. Bottlenecks in the execution layer hinder DeFi from achieving wide-scale adoption, with one example being the sequential execution of transactions, which limits throughput. However, transitioning from sequential to parallel execution cannot be done in isolation - he incentives in the fee market must also align for this transition to be successful. These interactions underscore the need to consider the entire blockchain stack to address vulnerabilities and ensure a more resilient DeFi and blockchain ecosystem.
Lioba is a fourth-year Ph.D. student advised by Prof. Dr. Roger Wattenhofer in the Distributed Computing (Disco) group at ETH Zurich. Her research centers around blockchain protocols with a focus on decentralised finance (DeFi).
In particular, she strives towards enabling an accessible, decentralised, fair, and efficient blockchain and DeFi ecosystem. She works on proposing new protocols to tackle the identified problems and vulnerabilities.