Trustworthy Foundations for Web3
B. Nasrulin (TU Delft - Data-Intensive Systems)
Dick H.J. Epema – Promotor (TU Delft - Data-Intensive Systems)
JA Pouwelse – Promotor (TU Delft - Data-Intensive Systems)
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Abstract
Webs represents a n ambitious attempt to democratize access to financial instruments and reimagine economic coordination. At its core, Web3 envisions a public infrastructure where users actively contribute to and share control of the systems they depend upon. Yet the gap between this vision and today's implementations reveals deep architectural flaws.
This thesis revisits Web3's foundations from first principles. Our investigation reveals that persistent vulnerabilities like transaction manipulation, Sybil attacks, and selfish behavior stem from misguided assumptions about participant behavior and misplaced focus on consensus alone.
Trustworthy Web3 foundations must account for the fact that protocols can be forked, validators run different software versions, and participants operate under diverse incentives. These realities demand accountability and incentive alignment mechanisms beyond traditional security models.