Reward Mechanism for Blockchains Using Evolutionary Game Theory

Shashank Motepalli, Hans Arno Jacobsen

Publikation: Beitrag in Buch/Bericht/KonferenzbandKonferenzbeitragBegutachtung

22 Zitate (Scopus)

Abstract

Blockchains have witnessed widespread adoption in the past decade in various fields. The growing demand makes their scalability and sustainability challenges more evident than ever. As a result, more and more blockchains have begun to adopt proof-of-stake (PoS) consensus protocols to address those challenges. One of the fundamental characteristics of any blockchain technology is its crypto-economics and incentives. Lately, each PoS blockchain has designed a unique reward mechanism, yet, many of them are prone to free-rider and nothing-at-stake problems. To better understand the ad-hoc design of reward mechanisms, in this paper, we develop a reward mechanism framework that could apply to many PoS blockchains. We formulate the block validation game wherein the rewards are distributed for validating the blocks correctly. Using evolutionary game theory, we analyze how the participants' behaviour could potentially evolve with the reward mechanism. Also, penalties are found to play a central role in maintaining the integrity of blockchains.

OriginalspracheEnglisch
Titel2021 3rd Conference on Blockchain Research and Applications for Innovative Networks and Services, BRAINS 2021
Herausgeber (Verlag)Institute of Electrical and Electronics Engineers Inc.
Seiten217-224
Seitenumfang8
ISBN (elektronisch)9781665439244
DOIs
PublikationsstatusVeröffentlicht - 27 Sept. 2021
Extern publiziertJa
Veranstaltung3rd Conference on Blockchain Research and Applications for Innovative Networks and Services, BRAINS 2021 - Virtual, Paris, Frankreich
Dauer: 27 Sept. 202130 Sept. 2021

Publikationsreihe

Name2021 3rd Conference on Blockchain Research and Applications for Innovative Networks and Services, BRAINS 2021

Konferenz

Konferenz3rd Conference on Blockchain Research and Applications for Innovative Networks and Services, BRAINS 2021
Land/GebietFrankreich
OrtVirtual, Paris
Zeitraum27/09/2130/09/21

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