Mechanism Design Approaches To Blockchain Consensus
DOWNLOAD
Download Mechanism Design Approaches To Blockchain Consensus PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Mechanism Design Approaches To Blockchain Consensus book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Mechanism Design Approaches To Blockchain Consensus
DOWNLOAD
Author : Joshua S. Gans
language : en
Publisher:
Release Date : 2022
Mechanism Design Approaches To Blockchain Consensus written by Joshua S. Gans and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with categories.
Blockchain consensus is a state whereby each node in a network agrees on the current state of the blockchain. Existing protocols achieve consensus via a contest or voting procedure to select one node as a dictator to propose new blocks. However, this procedure can still lead to potential attacks that make consensus harder to achieve or lead to coordination issues if multiple, competing chains (i.e., forks) are created with the potential that an untruthful fork might be selected. We explore the potential for mechanisms to be used to achieve consensus that are triggered when there is a dispute impeding consensus. Using the feature that nodes stake tokens in proof of stake (POS) protocols, we construct revelation mechanisms in which the unique (subgame perfect) equilibrium involves validating nodes propose truthful blocks using only the information that exists amongst all nodes. We construct operationally and computationally simple mechanisms under both Byzantine Fault Tolerance and a Longest Chain Rule, and discuss their robustness to attacks. Our perspective is that the use of simple mechanisms is an unexplored area of blockchain consensus and has the potential to mitigate known trade-offs and enhance scalability.
Blockchain Consensus Mechanisms
DOWNLOAD
Author : Parma Bains
language : en
Publisher: International Monetary Fund
Release Date : 2022-01-26
Blockchain Consensus Mechanisms written by Parma Bains and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-01-26 with Business & Economics categories.
Technology plays an increasingly important role in financial services. With the pace of technological inno-vation moving ever faster, the role new technology plays in the provision of financial services is becoming increasingly fundamental. New technology can generate efficiencies for firms, lowering costs that can be passed on to end users. It can increase access to financial services and products for consumers, particularly the most vulnerable; however, new technology can also create new risks and unintended consequences that can harm financial stability, consumer protection, and market integrity. This primer is designed for financial supervisors at central banks, regulatory authorities, and government departments. It adds to existing literature by summarizing key aspects of popular consensus mechanisms at a high level, with a specific focus on how such mechanisms may impact the mandates of supervisors and policymakers when deployed in financial services markets. It could also help inform IMF staff on policy development and technical assistance related to crypto assets, stablecoins, and blockchains.
The Economics Of Blockchain Consensus
DOWNLOAD
Author : Joshua Gans
language : en
Publisher: Springer Nature
Release Date : 2023-06-29
The Economics Of Blockchain Consensus written by Joshua Gans and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-06-29 with Business & Economics categories.
Blockchain technologies have been rapidly adopted for the creation of cryptocurrencies and have been explored for a myriad of applications. While this is of important economic interest, the computer science behind how blockchains operate to provide security and provenance has been largely inaccessible to economists. This book is a bridge between the computer science and the economics of blockchains. The focus is on the value and the achievement of blockchain consensus; that is, how distributed and independent nodes are able to reach an agreement on what the current state of digital ledgers, that are the product of blockchains, are. The book shows that the goals of computer scientists in designing blockchains place very high weight on security beyond what an economist trained in game theory and mechanism design would require. It shows how blockchains can be redesigned to account for key economic trade-offs, and will be of interest to researchers and students of economics, financial technology and computer science, alongside policymakers.
Antitrust By Design The Prohibition Of Anti Competitive Coordination And The Consensus Mechanism Of The Blockchain
DOWNLOAD
Author : Sebastian Louven
language : en
Publisher:
Release Date : 2018
Antitrust By Design The Prohibition Of Anti Competitive Coordination And The Consensus Mechanism Of The Blockchain written by Sebastian Louven and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
Is the blockchain technology with its technical coordination mechanisms also posing new challenges to antitrust dogma? Are conventional principles transferable to platforms or do we need new approaches? This paper examines the applicability of the prohibition of concerted practices to blockchain issues and which requirements arise for a compliance-conscious design of new technologies.
A Brief Introduction To Blockchain Economics
DOWNLOAD
Author : Long Chen
language : en
Publisher:
Release Date : 2020
A Brief Introduction To Blockchain Economics written by Long Chen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
We introduce economic research on blockchains and its recent advances. In particular, we highlight unifying concepts on blockchain as decentralized consensus and its core benefits, (ii) equilibrium characterizations and allegedly irreducible tensions among consensus formation, decentralization, and scalability, (iii) major issues including network security, over-concentration, energy consumption and sustainability, adoption, multi-party computation and encryption, smart contracting, and information distribution and aggregation, and (iv) future directions concerning blockchains and their applications such as informational and agency issues, as well as game-theoretical and mechanism-design approaches to blockchain protocols.
Blockchain Consensus
DOWNLOAD
Author : Imran Bashir
language : en
Publisher: Apress
Release Date : 2022-08-08
Blockchain Consensus written by Imran Bashir and has been published by Apress this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-08-08 with Computers categories.
This book is your comprehensive guide to understanding Blockchain and Blockchain consensus algorithms. It covers distributed systems, distributed consensus, and relevant system models. And you'll explore how classical and modern consensus algorithms work. The book also covers quantum consensus and explains the role that quantum computing plays in distributed systems. Consensus protocols allow participants in distributed systems to agree on a common value, despite faults. It's a fundamentally important construct in distributed systems. As a result of rigorous and ground-breaking research over the last four decades, many consensus mechanisms have been developed and are used in the industry today. However, with the advent of Blockchain technology, a renewed interest has arisen in this area, resulting in more research and innovation. The first Blockchain, Bitcoin, was invented in 2008 and introduced a novel consensus protocol called Nakamoto consensus, a solution to the Byzantine General's problem formulated almost 30 years ago. Since the introduction of Bitcoin, the interest in Blockchain and consensus protocols has risen exponentially. As a result, researchers from academia and industry have proposed many new consensus mechanisms. While fundamental goals and some techniques remain the same as established classical protocols, these modern protocols introduce innovative methods to achieve consensus in Blockchain. Some classical algorithms have been modified to make them suitable for Blockchain and some new protocols have been developed. This book is a detailed account of classical distributed consensus and Blockchain consensus algorithms. It explains why and how cryptocurrencies and Blockchain remain secure and decentralized without depending on a trusted third party. In addition, you'll learn how Blockchain can endure, even with hundreds or thousands of participants, out of which some might be malicious. The book introduces quantum consensus, which deals with the problem of reaching agreement in quantum networks and how to enhance classical results. What You Will Learn Understand distributed systems, distributed consensus, and relevant system models and protocols Understand Blockchain and Blockchain consensus algorithms Know how classical and modern consensus algorithms work Know the inner workings of Paxos, RAFT, PBFT, HotStuff, proof of work, proof of stake, GRANDPA, Casper, proof of history, and other consensus protocols Understand quantum Byzantine agreement and quantum consensus Who This Book Is For Distributed systems and Blockchain students and researchers, Blockchain practitioners, architects, designers, product managers, and developers This book targets many audiences as well as those with curious minds. It explains the classical consensus mechanisms, Blockchain age consensus protocols, and the latest developments in distributed consensus. The book does not assume any advanced knowledge of Blockchain or distributed systems, but a general understanding of computing and appreciation of Blockchain technology is helpful. Early chapters provide the necessary background to read and understanding consensus-related content quickly. Readers who already understand classical consensus protocols and distributed systems but want to learn about Blockchain consensus will find the book helpful as it covers Blockchain age protocols in detail. Readers who have come to the Blockchain world without any, or with little, background in distributed systems or classical consensus protocols will find this book equally helpful as it provides a solid understanding of classical consensus protocols. If you have no experience in Blockchain or don’t understand distributed computing in general, this book will give you a solid understanding of both subjects and enable you to conduct further research in this exciting area of distributed computing.
Foundations Of Blockchain
DOWNLOAD
Author : Ahmed Imteaj
language : en
Publisher: Springer Nature
Release Date : 2021-07-16
Foundations Of Blockchain written by Ahmed Imteaj and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-07-16 with Technology & Engineering categories.
This book provides a comprehensive analysis of fundamental topics related to blockchain. Throughout, the authors explore different vital issues and specific areas of blockchain. For convenience, the authors present the elementary description, visualize the working procedure of blockchain paradigm, and highlight the areas it can be applied in real life. They explain the blockchain process from a diverse perspective i.e. distributed Internet of Things (IoT), interdependent networks, intelligent mining, etc. They also analyze the interconnection of a blockchain network and such novel research areas to show a pathway towards a new research direction. This book also holds the core challenges and open research issues of blockchain technology, considering existing applications. Chapters include consensus mechanisms of blockchain, blockchain applicability in centralized and decentralized internet of things, blockchain interoperability from the perspective of interdependent networks, and blockchain for resource-constrained devices. Specifies the importance of theoretical methods in dealing with problems in the context of blockchain for interdependent decision making; Provides a comprehensive investigation of blockchain algorithms and the recently developed methods based on this algorithm; Provides basics and mathematical foundations needed to learn and deploy blockchain.
Blockchain Technology And Applications
DOWNLOAD
Author : Manoj Kumar M V
language : en
Publisher: CRC Press
Release Date : 2022-12-13
Blockchain Technology And Applications written by Manoj Kumar M V and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-12-13 with Technology & Engineering categories.
Blockchain is an emerging platform for developing decentralized applications and data storage, over and beyond its role as a platform for cryptocurrencies. This reference text provides a comprehensive discussion on blockchain technology from research and application perspective. Discusses different approaches for building distributed applications (DAPPS). Provides detailed listing and discussion of blockchain technology applications in solving real life problems. Covers proof of work (PoW) based blockchain consensus, and proof of stake (PoS) based blockchain consensus. Discusses blockchain algorithms including practical byzantine fault tolerance (PBFT) and simplified byzantine fault tolerance (SBFT). It comprehensively covers important topics including blockchain consensus algorithms, Ethereum, Hyperledger, blockchain scalability, smart contracts with solidity, ERC20 standards, building DApp with Golang, building DApp using Hyperledger, building PoCs with Hyperledger fabric, blockchain as a server, blockchain security and privacy. The text will serve as a useful text for senior undergraduate and graduate students in interdisciplinary areas including electronics and communications engineering, electrical engineering, computer science, and information technology.
The Palgrave Handbook Of Technological Finance
DOWNLOAD
Author : Raghavendra Rau
language : en
Publisher: Springer Nature
Release Date : 2021-09-09
The Palgrave Handbook Of Technological Finance written by Raghavendra Rau and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-09-09 with Business & Economics categories.
This handbook provides the first comprehensive overview of the fast-evolving alternative finance space and makes a timely and in-depth contribution to the literature in this area. Bringing together expert contributions in the field from both practitioners and academics, in one of the most dynamic parts of the financial sector, it provides a solid reference for this exciting discipline. Divided into six parts, Section 1 presents a high-level overview of the technologically-enabled finance space. It also offers a historical perspective on technological finance models and outlines different business models. Section 2 analyses digital currencies including guides to bitcoins, other cryptocurrencies, and blockchains. Section 3 addresses alternative payment systems such as digital money and asset tokenization. Section 4 deals with crowdfunding models from both a theoretical perspective and from a regulatory perspective. Section 5 discusses data-driven business models and includes a discussion of neural networks and deep learning. Finally, Section 6 discusses welfare implications of the technological finance revolution. This collection highlights the most current developments to date and the state-of-the-art in alternative finance, while also indicating areas of further potential. Acting as a roadmap for future research in this innovative and promising area of finance, this handbook is a solid reference work for academics and students whilst also appealing to industry practitioners, businesses and policy-makers.
Proof Of Stake For Blockchain Networks
DOWNLOAD
Author : Cong T. Nguyen
language : en
Publisher: IET
Release Date : 2024-05-14
Proof Of Stake For Blockchain Networks written by Cong T. Nguyen and has been published by IET this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-05-14 with Computers categories.
A consensus mechanism is the core component of a blockchain network, which ensures that every participant agrees on the state of the network in trustless environments. Until now, current blockchain networks have been using the proof-of-work (PoW) consensus mechanism, which has serious limitations such as huge energy consumption, low transaction processing capabilities, and centralization and scalability issues. To overcome these problems, a new consensus mechanism entitled proof-of-stake (PoS) has been developed. PoS has many advantages, including negligible energy consumption and very low consensus delay. Ethereum (the largest decentralized global software platform to create secured digital technology powered by blockchain technology and the blockchain of choice globally for all developers and enterprises) has just switched from PoW to PoS. As a result, this mechanism is expected to become a cutting-edge technology for future blockchain networks. This book provides a comprehensive discussion of the PoS consensus mechanism for blockchain networks. Starting with an overview of blockchain technology and consensus mechanisms, including basic concepts and network architecture, the book provides a review of the PoS consensus mechanism, including PoS consensus security and PoS performance and scalability issues. Proof-of-Stake for Blockchain Networks: Fundamentals, challenges and approaches is a valuable resource for researchers, engineers, and postgraduate students who are interested in advanced PoS consensus mechanisms, as well as developers and entrepreneurs who are interested in developing applications using the PoS consensus mechanism.