A game theoretical analysis of non-linear blockchain system

Lin Chen, Lei Xu, Zhimin Gao, Ahmed Imtiaz Sunny, Keshav Kasichainula, Weidong Shi

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

Abstract

Recent advances in the blockchain research have been made in two important directions. One is refined resilience analysis utilizing game theory to study the consequences of selfish behavior of users (miners), and the other is the extension from a linear (chain) structure to a non-linear (graphical) structure for performance improvements, such as IOTA and Graphcoin. The first question that comes to mind is what improvements that a blockchain system would see by leveraging these new advances. In this paper, we consider three major properties for a blockchain system: α-partial verification, scalability, and finality-duration. We establish a formal framework and prove that no blockchain system can achieve α-partial verification for any fixed constant α, high scalability, and low finality-duration simultaneously. We observe that classical blockchain systems like Bitcoin achieves full verification (α = 1) and low finality-duration, Ethereum 2.0 Sharding achieves low finality-duration and high scalability. We are interested in whether it is possible to partially satisfy the three properties.

Original languageEnglish
Title of host publication20th International Conference on Autonomous Agents and Multiagent Systems, AAMAS 2021
PublisherInternational Foundation for Autonomous Agents and Multiagent Systems (IFAAMAS)
Pages323-331
Number of pages9
ISBN (Electronic)9781713832621
StatePublished - 2021
Event20th International Conference on Autonomous Agents and Multiagent Systems, AAMAS 2021 - Virtual, Online
Duration: May 3 2021May 7 2021

Publication series

NameProceedings of the International Joint Conference on Autonomous Agents and Multiagent Systems, AAMAS
Volume1
ISSN (Print)1548-8403
ISSN (Electronic)1558-2914

Conference

Conference20th International Conference on Autonomous Agents and Multiagent Systems, AAMAS 2021
CityVirtual, Online
Period05/3/2105/7/21

Keywords

  • Blockchain
  • Nash equilibrium
  • Scalability

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