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Blockchain Nash Dynamics and the Pursuit of Compliance. (arXiv:2201.00858v1 [cs.CR])
Jan. 5, 2022, 2:20 a.m. | Dimitris Karakostas, Aggelos Kiayias, Thomas Zacharias
cs.CR updates on arXiv.org arxiv.org
We study Nash-dynamics in the context of blockchain protocols. Specifically,
we introduce a formal model, within which one can assess whether the Nash
dynamics can lead utility maximizing participants to defect from "honest"
protocol operation, towards variations that exhibit one or more undesirable
infractions, such as abstaining from participation and extending conflicting
protocol histories. Blockchain protocols that do not lead to such infraction
states are said to be compliant. Armed with this model, we study the compliance
of various Proof-of-Work …
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