Can open decentralized ledgers be economically secure?

ePrint Report: Can open decentralized ledgers be economically secure?

Jacob Leshno, Rafael Pass, Elaine Shi

Traditional payment processors are the subject of antitrust concerns and regulations. Open
decentralized ledgers (e.g., Bitcoin) provide an alternative. They do not rely on a central
authority, avoiding antitrust and monopoly concerns. However, the open nature of these systems
gives rise to many challenges, including fundamental questions about their security.
To address this question, we consider a framework that combines economic theory and dis-
tributed …

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