Related papers: Mean Field Game Approach to Bitcoin Mining
Proof-of-Work (PoW) is a fundamental underlying technology behind most major blockchain cryptocurrencies. It has been previously pointed out that quantum devices provide a computational advantage in performing PoW in the context of Bitcoin.…
Recent advances in the blockchain research have been made in two important directions. One is refined resilience analysis utilizing game theory to study the consequences of selfish behaviors of users (miners), and the other is the extension…
In this paper, the authors propose to increase the efficiency of blockchain mining by using a population-based approach. Blockchain relies on solving difficult mathematical problems as proof-of-work within a network before blocks are added…
Coding theory revolves around the incorporation of redundancy into transmitted symbols, computation tasks, and stored data to guard against adversarial manipulation. However, error correction in coding theory is contingent upon a strict…
The research designs a new integrated system for the security enhancement of a decentralized network by preventing damages from attackers, particularly for the 51 percent attack. The concept of multiple layered design based on Blockchain…
Even when confronted with the same data, agents often disagree on a model of the real-world. Here, we address the question of how interacting heterogenous agents, who disagree on what model the real-world follows, optimize their trading…
Despite all the progress in quantum technologies over the last decade, there is still a dearth of practical applications for quantum computers with a small number of noisy qubits. The effort to show quantum supremacy has been largely…
The blockchain concept forms the backbone of a new wave technology that promises to be deployed extensively in a wide variety of industrial and societal applications. Governments, financial institutions, banks, industrial supply chains,…
Blockchain and distributed ledger technologies rely on distributed consensus algorithms. In recent years many consensus algorithms and protocols have been proposed; most of them are for permissioned blockchain networks. However, the…
In this paper, we develop a Mean Field Games approach to Cluster Analysis. We consider a finite mixture model, given by a convex combination of probability density functions, to describe the given data set. We interpret a data point as an…
This paper studies to what extent the cost of operating a proof-of-work blockchain is intrinsically linked to the cost of preventing attacks, and to what extent the underlying digital ledger security budgets are correlated with the…
Blockchain is a type of decentralized distributed network which acts as an immutable digital ledger. Despite the absence of any central governing authority to validate the blocks in the ledger, it is considered secure and immutable due to…
In this paper, we consider Mean Field Games in the presence of common noise relaxing the usual independence assumption of individual random noise. We assume a simple linear model with terminal cost satisfying a convexity and a weak…
Following the publication of Bitcoin's arguably most famous attack, selfish mining, various works have introduced mechanisms to enhance blockchain systems' game theoretic resilience. Some reward mechanisms, like FruitChains, have been shown…
Financial fraud cases are on the rise even with the current technological advancements. Due to the lack of inter-organization synergy and because of privacy concerns, authentic financial transaction data is rarely available. On the other…
In this paper we study mean field games with possibly multiple mean field equilibria. Instead of focusing on the individual equilibria, we propose to study the set of values over all possible equilibria, which we call the set value of the…
We consider a mean-field game model where the cost functions depend on a fixed parameter, called \textit{state}, which is unknown to players. Players learn about the state from a a stream of private signals they receive throughout the game.…
Crypto-currencies are digital assets designed to work as a medium of exchange, e.g., Bitcoin, but they are susceptible to attacks (dishonest behavior of participants). A framework for the analysis of attacks in crypto-currencies requires…
Formal analyses of blockchain protocols have received much attention recently. Consistency results of Nakamoto's blockchain protocol are often expressed in a quantity $c$, which denotes the expected number of network delays before some…
To participate in the distributed consensus of permissionless blockchains, prospective nodes -- or miners -- provide proof of designated, costly resources. However, in contrast to the intended decentralization, current data on blockchain…