Xihan Xiong

Xihan Xiong, Minfeng Qi, Shiping Chen et al.

Ethereum Inscriptions (Ethscriptions) repurpose Ethereum calldata into a persistent inscription channel by embedding \texttt{data:}~URI payloads. These transactions typically target externally owned accounts, allowing the payload to bypass EVM execution while remaining permanently replicated across full nodes. Although calldata was originally designed for compact smart-contract parameters, this repurposing enables structured data embedding with long-term storage consequences. We present the first large-scale empirical study of Ethscriptions, treating them as a distinct \emph{calldata-resident workload} rather than merely a subset of general calldata usage. Our analysis focuses on the \textit{Ethscription} operational subset, which consists of payloads that decode to JSON and conform to a token-operation grammar (e.g., \texttt{p}, \texttt{op}, \texttt{tick}, \texttt{amt}). From $6.27$ million Ethscription candidates (\Uone), we extract $4.75$ million Ethscription operations (\Utwo, $75.8\%$ of \Uone). This result shows that structured token-like activity dominates the ecosystem. Our measurements further reveal (i) a complete workload lifecycle compressed into nine months (bootstrap, expansion, saturation), (ii) proliferation of $30$+ competing protocols without convergence toward a dominant standard, (iii) a lifecycle funnel exhibiting $201\times$ deploy-to-mint amplification and a $57.6{:}1$ mint-to-transfer collapse indicative of speculative minting, (iv) extreme participation inequality (Gini~$0.86$), and (v) a measurable permanent data footprint imposed on the Ethereum network.

Junliang Luo, Xihan Xiong, William Knottenbelt et al.

The proliferation of blockchain entities (persons or enterprises) exposes them to potential regulatory actions (e.g., being litigated) by regulatory authorities. Regulatory frameworks for crypto assets are actively being developed and refined, increasing the likelihood of such actions. The lack of systematic analysis of the factors driving litigation against blockchain entities leaves companies in need of clarity to navigate compliance risks. This absence of insight also deprives investors of the information for informed decision-making. This study focuses on U.S. litigation against blockchain entities, particularly by the U.S. Securities and Exchange Commission (SEC) given its influence on global crypto regulation. Utilizing frontier pretrained language models and large language models, we systematically map all SEC complaints against blockchain companies from 2012 to 2024 to thematic factors conceptualized by our study to delineate the factors driving SEC actions. We quantify the thematic factors and assess their influence on specific legal Acts cited within the complaints on an annual basis, allowing us to discern the regulatory emphasis, patterns and conduct trend analysis.

Zhipeng Wang, Rui Sun, Elizabeth Lui et al.

Centralization enhances the efficiency of Artificial Intelligence (AI), but it also brings critical challenges, such as single points of failure, inherent biases, data privacy concerns, and scalability issues, for AI systems. These problems are especially common in closed-source large language models (LLMs), where user data is collected and used with full transparency. To address these issues, blockchain-based decentralized AI (DeAI) has been introduced. DeAI leverages the strengths of blockchain technologies to enhance the transparency, security, decentralization, as well as trustworthiness of AI systems. Although DeAI has been widely developed in industry, a comprehensive understanding of state-of-the-art practical DeAI solutions is still lacking. In this work, we present a Systematization of Knowledge (SoK) for blockchain-based DeAI solutions. We propose a taxonomy to classify existing DeAI protocols based on the model lifecycle. Based on this taxonomy, we provide a structured way to clarify the landscape of DeAI protocols and identify their similarities and differences. Specifically, we analyze the functionalities of blockchain in DeAI, investigate how blockchain features contribute to enhancing the security, transparency, and trustworthiness of AI processes, and also ensure fair incentives for AI data and model contributors. In addition, we provide key insights and research gaps in developing DeAI protocols for future research.