Blockchain-based decentralized reward sharing: the case of mining pools
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Blockchain-based decentralized reward sharing : the case of mining pools. / Gudmundsson, Jens; Hougaard, Jens Leth.
I: ACM Transactions on Economics and Computation, Bind 12, Nr. 1, 4, 2024.Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt
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TY - JOUR
T1 - Blockchain-based decentralized reward sharing
T2 - the case of mining pools
AU - Gudmundsson, Jens
AU - Hougaard, Jens Leth
PY - 2024
Y1 - 2024
N2 - We introduce a reciprocity protocol, an innovative approach to coordinating and sharing rewards in blockchains. Inherently decentralized and implementable, it puts emphasis on incentives rather than forcing specific sharing rules from the outset. Analyzing the non-cooperative game the protocol induces, we identify a robust, strict, and Pareto-dominant symmetric equilibrium. In it, even self-centered participants show extensive systemic reciprocity. Thus, despite a setting that is generally unfavorable to reciprocal behavior, the protocol enables users to build trust between themselves by taking on a role akin to a social contract.
AB - We introduce a reciprocity protocol, an innovative approach to coordinating and sharing rewards in blockchains. Inherently decentralized and implementable, it puts emphasis on incentives rather than forcing specific sharing rules from the outset. Analyzing the non-cooperative game the protocol induces, we identify a robust, strict, and Pareto-dominant symmetric equilibrium. In it, even self-centered participants show extensive systemic reciprocity. Thus, despite a setting that is generally unfavorable to reciprocal behavior, the protocol enables users to build trust between themselves by taking on a role akin to a social contract.
U2 - 10.1145/3641120
DO - 10.1145/3641120
M3 - Journal article
VL - 12
JO - ACM Transactions on Economics and Computation
JF - ACM Transactions on Economics and Computation
SN - 2167-8375
IS - 1
M1 - 4
ER -
ID: 385897759