Game-theoric approach to decision-making problem for blockchain mining

Autor:	Toda, Kosuke, Kuze, Naomi, Ushio, Toshimitsu
Rok vydání:	2020
Předmět:	Computer Science - Computer Science and Game Theory Computer Science - Cryptography and Security
Druh dokumentu:	Working Paper
DOI:	10.1109/LCSYS.2020.3043834
Popis:	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 problem as a noncooperative game, because the probability of creating a block depends not only on one's own available computational resources, but also those of other miners. Through theoretical and numerical analyses, we show a hysteresis phenomenon of Nash equilibria depending on the reward and a jump phenomenon of miner decisions by a slight change in reward. We also show that the reward for which miners decide not to participate in the mining becomes smaller as the number of miners increases. Comment: 7 pages, 6 figures an extended version of a manuscript accepted to IEEE L-CSS
Databáze:	arXiv
Externí odkaz:	http://arxiv.org/abs/2010.05370 Zobrazit plný text záznamu View this record from Arxiv