Cooperation Mechanism in Blockchain by Evolutionary Game Theory

Jinxin Zhang, Meng Wu and Hou-Sheng Su

Complexity, 2021, vol. 2021, 1-9

Abstract: In the blockchain network, to get rewards in the blockchain, blockchain participants pay for various forms of competition such as computing power, stakes, and other resources. Because of the need to pay a certain cost, individual participants cooperate to maintain the long-term stability of the blockchain jointly. In the course of such competition, the game between each other has appeared invisibly. To better understand the blockchain design of cooperation mechanisms, in this paper, we constructed a game framework between participants with different willingness, using evolutionary game theory, and complex network games. We analyzed how the behavior of participants potentially develops with cost and payoff. We consider the expected benefits of participants for the normal growth of the blockchain as the major factor. Considering the behavior of malicious betrayers, the blockchain needs to be maintained in the early stage. Numerical simulation supports our analysis.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:hin:complx:1258730

DOI: 10.1155/2021/1258730

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