Paper 2017/1167
Cryptocurrency Voting Games
Sanjay Bhattacherjee and Palash Sarkar
Abstract
This work shows that weighted majority voting games occur in cryptocurrencies. In particular, two such games are highlighted. The first game, which we call the Rule Game, pertains to the scenario where the entities in the system engage in a voting procedure to accept or reject a change of rules. The second game, which we call the Attack Game, refers to the scenario where a group of entities in a cryptocurrency system can form a coalition to engage in double spending. For the Rule Game we provide analysis to argue that the Coleman’s preventive power measure is the appropriate tool for measuring a player’s influence in the game while for the Attack Game, we define a notion of stability based on the notion of minimal winning coalitions. For both the Rule Game and the Attack Game, we show how to analyse the games based on a snapshot of real world data for Bitcoin which is presently the most popular of all the cryptocurrencies.
Metadata
- Available format(s)
-
PDF
- Category
- Applications
- Publication info
- Preprint. MINOR revision.
- Keywords
- Voting gamesCryptocurrencyBitcoin
- Contact author(s)
- sanjay bhattacherjee @ gmail com
- History
- 2017-11-30: received
- Short URL
- https://ia.cr/2017/1167
- License
-
CC BY
BibTeX
@misc{cryptoeprint:2017/1167,
author = {Sanjay Bhattacherjee and Palash Sarkar},
title = {Cryptocurrency Voting Games},
howpublished = {Cryptology {ePrint} Archive, Paper 2017/1167},
year = {2017},
url = {https://eprint.iacr.org/2017/1167}
}
