Related papers: The Framework of Consensus Equilibria for Mining-P…
This paper presents a comprehensive comparative analysis of two dominant blockchain consensus mechanisms, Proof of Work (PoW) and Proof of Stake (PoS), evaluated across seven critical metrics: energy use, security, transaction speed,…
Open-access blockchains based on proof-of-work protocols have gained tremendous popularity for their capabilities of providing decentralized tamper-proof ledgers and platforms for data-driven autonomous organization. Nevertheless, the…
The selfish mining attack, arguably the most famous game-theoretic attack in blockchain, indicates that the Bitcoin protocol is not incentive-compatible. Most subsequent works mainly focus on strengthening the selfish mining strategy, thus…
This paper presents a reformulation in topos logic of a safety result arising in an abstract presentation of blockchain consensus protocols. That is, in a high-level template for "correct-by-construction" consensus protocols, it is shown…
The past decade has witnessed the rapid evolution in blockchain technologies, which has attracted tremendous interests from both the research communities and industries. The blockchain network was originated from the Internet financial…
We study N-player finite games with costs perturbed due to time-varying disturbances in the underlying system and to that end, we propose the concept of Robust Correlated Equilibrium that generalizes the definition of Correlated…
We study the problem of finding robust equilibria in multiplayer concurrent games with mean payoff objectives. A $(k,t)$-robust equilibrium is a strategy profile such that no coalition of size $k$ can improve the payoff of one its member by…
Blockchain protocols incentivize participation through monetary rewards, assuming rational actors behave honestly to maximize their gains. However, attackers may attempt to harm others even at personal cost. These denial of profit attacks…
We model the ultimate price paid by users of a decentralized ledger as resulting from a two-stage game where Miners (/Proposers/etc.) first purchase blockspace via a Tullock contest, and then price that space to users. When analyzing our…
Blockchain-based games have introduced novel economic models that blend traditional gaming with decentralized ownership and financial incentives, leading to the rapid emergence of the GameFi sector. However, despite their innovative appeal,…
Optimization methods are used to determine equilibria of investment in cryptocurrencies. The basic assumptions involve existence of a core group (the "wealthy") that fears the loss of substantial assets through government seizure.…
Blockchain is an essentially distributed database recording all transactions or digital events among participating parties. Each transaction in the records is approved and verified by consensus of the participants in the system that…
This paper studies Mean Field Games (MFGs) in which agent dynamics are given by jump processes of controlled intensity, with mean-field interaction via the controls and affecting the jump intensities. We establish the existence of MFG…
Byzantine general problem is the core problem of the consensus algorithm, and many protocols are proposed recently to improve the decentralization level, the performance and the security of the blockchain. There are two challenging issues…
Consensus algorithms are central to blockchain technology and an emerging research area. In this paper, we begin with an overview of the different types and architectures of blockchain networks. Then, with a focus on consortium blockchains,…
Blockchain technologies originate from cryptocurrencies. Thus, most blockchain technologies assume an environment with a fast and stable network. However, in some blockchain-based systems, e.g., supply chain management (SCM) systems, some…
Blockchain technology enables stakeholders to conduct trusted data sharing and exchange without a trusted centralized institution. These features make blockchain applications attractive to enhance trustworthiness in very different contexts.…
Censorship resilience is a fundamental assumption underlying the security of blockchain protocols. Additionally, the analysis of blockchain security from an economic and game theoretic perspective has been growing in popularity in recent…
A blockchain is a distributed ledger for recording transactions, maintained by many nodes without central authority through a distributed cryptographic protocol. All nodes validate the information to be appended to the blockchain, and a…
Announcement games, where information is disseminated by announcers and challenged by validators, are prevalent in real-world scenarios. Validators take effort to verify the validity of the announcements, gaining rewards for successfully…