With a transaction fee market and without a block size limit in Bitcoin network; there exists a Nash equilibrium point of the mining game - Archive ouverte HAL Access content directly
Journal Articles International Journal of Game Theory Year : 2020

With a transaction fee market and without a block size limit in Bitcoin network; there exists a Nash equilibrium point of the mining game

Sans taille de blocs de transactions, avec bien sûr des frais de transaction, le jeu de minage dans le réseau blockchain admet des points d'équilibre de Nash.

Abstract

We are interested in mining incentives in the Bitcoin protocols. The blockchain Bitcoin. The mining process is used to confirm and secure all transactions in the network. This process is organized as a speed game between individuals or groups, referred to as "miners" or "pools of miners", respectively. Miners or pools of miners use different computational powers to solve a mathematical problem, obtain a proof-of-work, spread their solution, and this solution is verified by the community before the block is added in the only public blockchain replicated over all nodes. First, we define and specify this game in the case with n players, n ≥ 2, under the assumptions denoted by (H) below. Next, we analytically find its Nash equilibrium points. In other words, we generalize the idea of [1] by taking into account the hypotheses of Peter Rizun's paper [2], through cumbersome computations. Our purpose here is to show some intuitions about the model rather than derive applicable results.
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Dates and versions

hal-03112236 , version 1 (16-01-2021)

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Moustapha Ba. With a transaction fee market and without a block size limit in Bitcoin network; there exists a Nash equilibrium point of the mining game. International Journal of Game Theory, 2020, 6 (1), pp.1-23. ⟨10.5121/ijgtt.2020.6101⟩. ⟨hal-03112236⟩
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