Abstract:A decentralized blockchain is a distributed ledger that is often used as a platform for exchanging goods and services. This ledger is maintained by a network of nodes that obeys a set of rules, called a consensus protocol, which helps to resolve inconsistencies among local copies of a blockchain. In this paper, we build a mathematical framework for the consensus protocol designer that specifies (a) the measurement of a resource which nodes strategically invest in and compete for in order to win the right to bu… Show more
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