相关论文: An Axiomatic Approach to Block Rewards
One of the fundamental applications for a practically useful system of money is remuneration. Information pertaining to the amount of compensation awarded to different individuals is often considered sensitive, commanding a certain degree…
We study the computation contests where players compete for searching a solution to a given problem with a winner-take-all reward. The search processes are independent across the players and the search speeds of players are proportional to…
Bitcoin is the first implementation of what has become known as a 'public permissionless' blockchain. Guaranteeing security and protocol conformity through its elegant combination of cryptographic assurances and game theoretic economic…
This paper presents a stochastic model for block arrival times based on the difficulty retargeting rule used in Bitcoin, as well as other proof-of-work blockchains. Unlike some previous work, this paper explicitly models the difficulty…
A blockchain, such as Bitcoin, is an append-only, secure, transparent, distributed ledger. A fair blockchain is expected to have healthy metrics; high honest mining power, low processing latency, i.e., low wait times for transactions and…
Mining processes of Bitcoin and similar cryptocurrencies are currently incentivized with voluntary transaction fees and fixed block rewards which will halve gradually to zero. In the setting where optional and arbitrary transaction fee…
Blockchain protocols often seek to procure computationally challenging work from a decentralized set of participants. While there are simple procurement auctions that result in the minimal cost of acquisition and maximal efficiency, they…
We study long-term equilibria that arise in the token monetary policy, or tokenomics, design of proof-of-stake (PoS) blockchain systems that engage utility maximizing users and validators. Validators are system maintainers who get rewarded…
We propose a proof of mining system. Roughly speaking, in this system the mining stake ${\rm mstak}(A)$ with discrimination index $a\in[0,1]$ of an account $A$ is defined by the formula: $${\rm mstak}(A)=(1-a)\cdot\frac{1}{{\rm…
We propose a mean field game model to study the question of how centralization of reward and computational power occur in Bitcoin-like cryptocurrencies. Miners compete against each other for mining rewards by increasing their computational…
Proof-of-Stake systems randomly choose, on each round, one of the participants as a consensus leader that extends the chain with the next block such that the selection probability is proportional to the owned stake. However, distributed…
In this paper, we provide a novel dynamic decision method of blockchain selfish mining by applying the sensitivity-based optimization theory. Our aim is to find the optimal dynamic blockchain-pegged policy of the dishonest mining pool. To…
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…
We develop a dynamic model of the Bitcoin market where users set fees themselves and miners decide whether to operate and whom to validate based on those fees. Our analysis reveals how, in equilibrium, users adjust their bids in response to…
We study the incentives behind double-spend attacks on Nakamoto-style Proof-of-Work cryptocurrencies. In these systems, miners are allowed to choose which transactions to reference with their block, and a common strategy for selecting…
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…
In an age where sustainability is of paramount importance, the significance of both high-performance computing and intelligent algorithms cannot be understated. Yet, these domains often demand hefty computational power, translating to…
Blockchains have sparked global interest in recent years, gaining importance as they increasingly influence technology and finance. This thesis investigates the robustness of blockchain protocols, specifically focusing on Ethereum…
This paper outlines a method aiming to increase the efficiency of proof-of-work based blockchains using a ticket-based approach. To avoid the limitation of serially adding one block at a time to a blockchain, multiple semi-independent…
In blockchains such as Bitcoin and Ethereum, users compete in a transaction fee auction to get their transactions confirmed in the next block. A line of recent works set forth the desiderata for a "dream" transaction fee mechanism (TFM),…