تقرير
Balancing Participation and Decentralization in Proof-of-Stake Cryptocurrencies
| العنوان: | Balancing Participation and Decentralization in Proof-of-Stake Cryptocurrencies |
|---|---|
| المؤلفون: | Kiayias, Aggelos, Koutsoupias, Elias, Marmolejo-Cossio, Francisco, Stouka, Aikaterini-Panagiota |
| سنة النشر: | 2024 |
| المجموعة: | Computer Science |
| مصطلحات موضوعية: | Computer Science - Computer Science and Game Theory |
| الوصف: | Proof-of-stake blockchain protocols have emerged as a compelling paradigm for organizing distributed ledger systems. In proof-of-stake (PoS), a subset of stakeholders participate in validating a growing ledger of transactions. For the safety and liveness of the underlying system, it is desirable for the set of validators to include multiple independent entities as well as represent a non-negligible percentage of the total stake issued. In this paper, we study a secondary form of participation in the transaction validation process, which takes the form of stake delegation, whereby an agent delegates their stake to an active validator who acts as a stake pool operator. We study payment schemes that reward agents as a function of their collective actions regarding stake pool operation and delegation. Such payment schemes serve as a mechanism to incentivize participation in the validation process while maintaining decentralization. We observe natural trade-offs between these objectives and the total expenditure required to run the relevant payment schemes. Ultimately, we provide a family of payment schemes which can strike different balances between these competing objectives at equilibrium in a Bayesian game theoretic framework. Comment: 37 pages, 16 figures, accepted for publication at The 17th International Symposium on Algorithmic Game Theory (SAGT) |
| نوع الوثيقة: | Working Paper |
| URL الوصول: | http://arxiv.org/abs/2407.08686 |
| رقم الأكسشن: | edsarx.2407.08686 |
| قاعدة البيانات: | arXiv |
| الوصف غير متاح. |