相关论文: Evolutionary Equilibrium Analysis for Decision on …
We study a game-theoretic model of blockchain mining economies and show that griefing, a practice according to which participants harm other participants at some lesser cost to themselves, is a prevalent threat at its Nash equilibria. The…
Proof-of-Work (PoW) is the most widely adopted incentive model in current blockchain systems, which unfortunately is energy inefficient. Proof-of-Stake (PoS) is then proposed to tackle the energy issue. The rich-get-richer concern of PoS…
A decentralized blockchain is a distributed ledger that is often used as a platform for exchanging goods and services. This ledger is maintained by a network of nodes that obeys a set of rules, called a consensus protocol, which helps to…
With the development of decentralized consensus protocols, permissionless blockchains have been envisioned as a promising enabler for the general-purpose transaction-driven, autonomous systems. However, most of the prevalent blockchain…
The current surge in supply chain finance has significantly alleviated the "capital challenges" faced by domestic related enterprises, enabling enterprises upstream and subsequent stages of the industrial chain to achieve effective…
Blockchain stores information into a chain of "blocks", whose integrity is usually guaranteed by Proof of Work (PoW). In many blockchain applications (including cryptocurrencies), users compete with each other to win the ownership of the…
Although Bitcoin was intended to be a decentralized digital currency, in practice, mining power is quite concentrated. This fact is a persistent source of concern for the Bitcoin community. We provide an explanation using a simple model to…
Mining in proof-of-work blockchains has become an expensive affair requiring specialized hardware capable of executing several megahashes per second at huge electricity costs. Miners earn a reward each time they mine a block within the…
The continuing expansion of the blockchain ecosystems has attracted much attention from the research community. However, although a large number of research studies have been proposed to understand the diverse characteristics of individual…
Blockchain systems often employ proof-of-work consensus protocols to validate and add transactions into hashchains. These protocols stimulate competition among miners in solving cryptopuzzles (e.g. SHA-256 hash computation in Bitcoin) in…
Proof-of-stake (PoS) is a promising approach for designing efficient blockchains, where block proposers are randomly chosen with probability proportional to their stake. A primary concern with PoS systems is the "rich getting richer"…
Due to the increasing interest in blockchain technology for fostering secure, auditable, decentralized applications, a set of challenges associated with this technology need to be addressed. In this letter, we focus on the delay associated…
Determining the optimal block size is crucial for achieving high throughput in blockchain systems. Many studies have focused on tuning various components, such as databases, network bandwidth, and consensus mechanisms. However, the impact…
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…
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…
We present a novel framework for analyzing blockchain consensus mechanisms by modeling blockchain growth as a Partially Observable Stochastic Game (POSG) which we reduce to a set of Partially Observable Markov Decision Processes (POMDPs)…
Mining blocks in a blockchain using the \textit{Proof-of-Work} consensus protocol involves significant risk, as network participants face continuous operational costs while earning infrequent capital gains upon successfully mining a block.…
It is an important decision-making problem for a miner in the blockchain networks if he/she participates in the mining so that he/she earns a reward by creating a new block earlier than other miners. We formulate this decision-making…
Mining for Bitcoins is a high-risk high-reward activity. Miners, seeking to reduce their variance and earn steadier rewards, collaborate in pooling strategies where they jointly mine for Bitcoins. Whenever some pool participant is…
Proof-of-Work (PoW) systems face critical challenges, including excessive energy consumption and the centralization of mining power among entities with expensive hardware. Static mining pools exacerbate these issues by reducing competition…