Related papers: The Framework of Consensus Equilibria for Mining-P…
We propose a learning dynamics to model how strategic agents repeatedly play a continuous game while relying on an information platform to learn an unknown payoff-relevant parameter. In each time step, the platform updates a belief estimate…
Economists were content with the concept of the Nash equilibrium as game theory's solution concept until Daskalakis, Goldberg, and Papadimitriou showed that finding a Nash equilibrium is most likely a computationally hard problem, a result…
Launching a new blockchain system or application is frequently facilitated by a so called airdrop, where the system designer chooses a pre-existing set of potentially interested parties and allocates newly minted tokens to them with the…
Bitcoin and other similar digital currencies on blockchains are not ideal means for payment, because their prices tend to go up in the long term (thus people are incentivized to hoard those currencies), and to fluctuate widely in the short…
Public blockchains, though renowned for their transparency and immutability, suffer from significant privacy concerns. Network-level analysis and long-term observation of publicly available transactions can often be used to infer user…
Establishing the existence of exact or near Markov or stationary perfect Nash equilibria in nonzero-sum Markov games over Borel spaces is a challenging problem with limited positive results. Motivated by problems in multi-agent and Bayesian…
The success of blockchain as the underlying technology for cryptocurrencies has opened up possibilities for its use in other application domains as well. The main advantages of blockchain for its potential use in other domains are its…
The security of blockchain systems based on Proof of Work relies on mining. However, mining suffers from unstable revenue, prompting many miners to form cooperative mining pools. Most existing mining pools operate in a centralized manner,…
Permissionless blockchain consensus protocols have been designed primarily for defining decentralized economies for the commercial trade of assets, both virtual and physical, using cryptocurrencies. In most instances, the assets being…
Proof-of-work (PoW) cryptocurrencies rely on a balance of security and fairness in order to maintain a sustainable ecosystem of miners and users. Users demand fast and consistent transaction confirmation, and in exchange drive the adoption…
Pool block withholding attack is performed among mining pools in digital cryptocurrencies, such as Bitcoin. Instead of mining honestly, pools can be incentivized to infiltrate their own miners into other pools. These infiltrators report…
Strategic interactions between competitive entities are generally considered from the perspective of complete revelation of benefits achieved from those interactions, in the form of public payoff functions and/or beliefs, in the announced…
Reaching consensus -- a macroscopic state where the system constituents display the same microscopic state -- is a necessity in multiple complex socio-technical and techno-economic systems: their correct functioning ultimately depends on…
We consider the relation between Sion's minimax theorem for a continuous function and a Nash equilibrium in a multi-players game with two groups which is zero-sum and symmetric in each group. We will show the following results. 1. The…
We consider the existence and computational complexity of coalitional stability concepts based on social networks. Our concepts represent a natural and rich combinatorial generalization of a recent approach termed partition equilibrium. We…
The proof-of-work consensus protocol suffers from two main limitations: waste of energy and offering only probabilistic guarantees about the status of the blockchain. This paper introduces SklCoin, a new Byzantine consensus protocol and its…
Evolutionarily stable strategy (ESS) is the defining concept of evolutionary game theory. It has a fairly unanimously accepted definition for the case of symmetric games which are played in a homogeneous population where all individuals are…
Nash equilibrium is the most commonly-used notion of equilibrium in game theory. However, it suffers from numerous problems. Some are well known in the game theory community; for example, the Nash equilibrium of repeated prisoner's dilemma…
With the increasing adoption of decentralized information systems based on a variety of permissionless blockchain networks, the choice of consensus mechanism is at the core of many controversial discussions. Ethereum's recent transition…
We argue that recent developments in proof-of-work consensus mechanisms can be used in accordance with advancements in formal verification techniques to build a distributed payment protocol that addresses important economic drawbacks from…