Related papers: Blockchain Participation Games
Commitment is a well-established mechanism for fostering cooperation in human society and multi-agent systems. However, existing research has predominantly focused on the commitment that neglects the freedom of players to abstain from an…
We consider network contribution games, where each agent in a social network has a budget of effort that he can contribute to different collaborative projects or relationships. Depending on the contribution of the involved agents a…
The resource-consuming mining of blocks on a blockchain equipped with a proof of work consensus protocol bears the risk of ruin, namely when the operational costs for the mining exceed the received rewards. In this paper we investigate to…
Blockchain and distributed ledger technologies are gaining the interest of the academy, companies, and institutions. Nonetheless, the path toward blockchain adoption is not straightforward, as blockchain is a complex technology that…
In blockchain applications, transaction confirmation is often treated as usability friction to be minimized or removed. However, confirmation also marks the boundary between deliberation and irreversible commitment, suggesting it may play a…
Blockchain technology enables the execution of collaborative business processes involving mutually untrusted parties. Existing platforms allow such processes to be modeled using high-level notations and compiled into smart contracts that…
Blockchain systems benefit from lessons in prior art such as fault tolerance, distributed systems, peer-to-peer systems, and game theory. In this paper we argue that blockchain algorithms should tolerate both rational (self-interested)…
The amount of personal information contributed by individuals to digital repositories such as social network sites has grown substantially. The existence of this data offers unprecedented opportunities for data analytics research in various…
While many distributed consensus protocols provide robust liveness and consistency guarantees under the presence of malicious actors, quantitative estimates of how economic incentives affect security are few and far between. In this paper,…
We design and analyze attention games that incentivize validators to check computation results. We show that no pure strategy Nash equilibrium of the game without outside parties exists by a simple argument. We then proceed to calculate the…
Modern blockchain systems are a fresh look at the paradigm of distributed computing, applied under assumptions of large-scale public networks. They can be used to store and share information without a trusted central party. There has been…
Proponents of blockchains believe that this technology will revolutionize e-commerce. To evaluate this belief, we invite several groups of students to transact on a decentralized peer-to-peer marketplace built on the platform provided by…
We analyze Bitcoin mining from the perspective of a game and propose an optimal mining model that maximizes profits of pools and miners. The model is a two-stage Stackelberg game in which each stage forms a sub-game. In stage I, pools are…
Cryptoeconomic incentives in the form of blockchain-based tokens are seen as an enabler of the sharing economy that could shift society towards greater sustainability. Nevertheless, knowledge of the impact of these tokens on human sharing…
Many protocols in distributed computing rely on a source of randomness, usually called a random beacon, both for their applicability and security. This is especially true for proof-of-stake blockchain protocols in which the next miner or…
Payment networks were introduced to address the limitation on the transaction throughput of popular blockchains. To open a payment channel one has to publish a transaction on-chain and pay the appropriate transaction fee. A transaction can…
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…
Propagation latency is inherent to any distributed network, including blockchains. Typically, blockchain protocols provide a timing buffer for block propagation across the network. In leader-based blockchains, the leader -- block proposer…
This paper extends the blockchain sustainability framework of Budish (2018) to consider proof of stake (in addition to proof of work) consensus mechanisms and permissioned (where the number of nodes are fixed) networks. It is demonstrated…
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…