Another busy week for Research Pulse!
There have been a lot of discussions lately around the economics of EIP1559, the highly anticipated change to Ethereum’s monetary system. We have synthesized the potential economic impact that EIP1559 will have on the Ethereum network in our summary of Tim Roughgarden’s analysis of EIP1559. This week, a new paper came out focusing on the Stochastic Properties of EIP-1559 Basefees. Understanding the fundamental properties that affect basefee changes is critical for the community to be more confident about this proposal, so be sure to check out this paper.
Blockchain governance has been a widely explored topic in the context of cryptonetworks. While there are several implementations of governance systems live on mainnets today, this has been a largely unexplored research topic in the context of academia. In A Systematic Literature Review on Blockchain Governance, the authors provide a useful review of academic publications on blockchain governance structures. Hopefully, this work simplifies future literature reviews and contributes to an increase in publications around this topic.
Finally, Empirically comparing the performance of blockchain’s consensus algorithms provides a contemporary benchmark of the performance of major blockchain consensus algorithms. Hopefully, these benchmarks will help inform the community at large of the trade-offs associated consensus centralization. The authors are also very diligent in the background section, so definitely worth a read if you are interested in this topic.