Arbeitspapier
Finite blockchain games
This paper studies the dynamic construction of a blockchain by competitive miners. In contrast to the literature, we assume a finite time horizon. It is shown that popular mining strategies such as adherence to conservative mining or to the longest-chain rule constitute pure-strategy Nash equilibria. However, these equilibria are not subgame perfect.
- Sprache
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Englisch
- Erschienen in
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Series: Working Paper ; No. 355
- Klassifikation
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Wirtschaft
Noncooperative Games
Stochastic and Dynamic Games; Evolutionary Games; Repeated Games
Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systems
- Thema
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blockchain
proof-of-work
Nash equilibrium
subgame perfection
selfish mining
- Ereignis
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Geistige Schöpfung
- (wer)
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Ewerhart, Christian
- Ereignis
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Veröffentlichung
- (wer)
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University of Zurich, Department of Economics
- (wo)
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Zurich
- (wann)
-
2020
- DOI
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doi:10.5167/uzh-188648
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Ewerhart, Christian
- University of Zurich, Department of Economics
Entstanden
- 2020