Philipp Jovanovic
54 papers 1.4K citations h-index 7 2012–2026
An Empirical Study of DeFi Liquidations: Incentives, Risks, and Instabilities
Financial speculators often seek to increase their potential gains with leverage. Debt is a popular form of leverage, and with over 39.88B USD of total value locked (TVL), the Decentralized...
What Drives the (In)stability of a Stablecoin?
In May 2022, an apparent speculative attack, followed by market panic, led to the precipitous downfall of UST, one of the most popular stablecoins at that time. However, UST is not the only...
Mitigating Decentralized Finance Liquidations with Reversible Call Options
Liquidations in Decentralized Finance (DeFi) are both a blessing and a curse -- whereas liquidations prevent lenders from capital loss, they simultaneously lead to liquidation spirals and...
Reaching Consensus for Asynchronous Distributed Key Generation
We give a protocol for Asynchronous Distributed Key Generation (A-DKG) that is optimally resilient (can withstand $f<\frac{n}{3}$ faulty parties), has a constant expected number of rounds, has...
Performance of EdDSA and BLS Signatures in Committee-Based Consensus
We present the first performance comparison of EdDSA and BLS signatures in committee-based consensus protocols through large-scale geo-distributed benchmarks. Contrary to popular beliefs, we find...
From HODL to MOON: Understanding Community Evolution, Emotional Dynamics, and Price Interplay in the Cryptocurrency Ecosystem
This paper presents a large-scale analysis of the cryptocurrency community on Reddit, shedding light on the intricate relationship between the evolution of their activity, emotional dynamics, and...
Enhancing Bitcoin Security and Performance with Strong Consistency via Collective Signing
While showing great promise, Bitcoin requires users to wait tens of minutes for transactions to commit, and even then, offering only probabilistic guarantees. This paper introduces ByzCoin, a...
Que Sera Consensus: Simple Asynchronous Agreement with Private Coins and Threshold Logical Clocks
It is commonly held that asynchronous consensus is much more complex, difficult, and costly than partially-synchronous algorithms, especially without using common coins. This paper challenges that...
Keeping Authorities "Honest or Bust" with Decentralized Witness Cosigning
The secret keys of critical network authorities - such as time, name, certificate, and software update services - represent high-value targets for hackers, criminals, and spy agencies wishing to...
Steelhead: Interleaving Partially Synchronous and Asynchronous Commit Rules on a Shared DAG
Dual-mode consensus protocols are fast when the network is partially synchronous and remain live under asynchrony. We introduce Steelhead, a dual-mode mechanism that composes a partially...