Game-theoretic Modeling and Stability Analysis of Blockchain Channels

Pei Yun Zhang; Chen Xi Li; Meng Chu Zhou

doi:10.1109/SMC42975.2020.9282820

Game-theoretic Modeling and Stability Analysis of Blockchain Channels

Pei Yun Zhang, Chen Xi Li, Meng Chu Zhou

Electrical and Computer Engineering

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

3 Scopus citations

Abstract

The emergence of channel technology reduces the transaction verification time of blockchains. A channel with a stable state is helpful for completing transactions successfully. Under the assumption of node bounded rationality and replication dynamics of an evolutionary process, this paper presents a dynamic evolutionary game model based on node behaviors in blockchain channels. The model considers the cost of attack, attack success rate, defense, cooperation, and noncooperation strategies during the game process. The defense strategy can help nodes resist different attacks. Nodes can dynamically adjust their own strategies according to different behaviors of attackers to achieve effective defense. The experimental results show that the proposed method is better than a lightning network channel in terms of transaction success ratio.

Original language	English (US)
Title of host publication	2020 IEEE International Conference on Systems, Man, and Cybernetics, SMC 2020
Publisher	Institute of Electrical and Electronics Engineers Inc.
Pages	836-840
Number of pages	5
Volume	2020-October
ISBN (Electronic)	9781728185262
DOIs	https://doi.org/10.1109/SMC42975.2020.9282820
State	Published - Oct 11 2020
Event	2020 IEEE International Conference on Systems, Man, and Cybernetics, SMC 2020 - Toronto, Canada Duration: Oct 11 2020 → Oct 14 2020

Conference

Conference	2020 IEEE International Conference on Systems, Man, and Cybernetics, SMC 2020
Country/Territory	Canada
City	Toronto
Period	10/11/20 → 10/14/20

All Science Journal Classification (ASJC) codes

Software
Control and Systems Engineering
Human-Computer Interaction
Computer Science Applications
Electrical and Electronic Engineering

Keywords

Blockchain channel
dynamic evolutionary game
evolutionary equilibrium
game theory
internal attack
optimization
stable state

Access to Document

10.1109/SMC42975.2020.9282820

Cite this

@inproceedings{62639121b6d9421db7674cc855d5f5ba,

title = "Game-theoretic Modeling and Stability Analysis of Blockchain Channels",

abstract = "The emergence of channel technology reduces the transaction verification time of blockchains. A channel with a stable state is helpful for completing transactions successfully. Under the assumption of node bounded rationality and replication dynamics of an evolutionary process, this paper presents a dynamic evolutionary game model based on node behaviors in blockchain channels. The model considers the cost of attack, attack success rate, defense, cooperation, and noncooperation strategies during the game process. The defense strategy can help nodes resist different attacks. Nodes can dynamically adjust their own strategies according to different behaviors of attackers to achieve effective defense. The experimental results show that the proposed method is better than a lightning network channel in terms of transaction success ratio.",

keywords = "Blockchain channel, dynamic evolutionary game, evolutionary equilibrium, game theory, internal attack, optimization, stable state",

author = "Zhang, {Pei Yun} and Li, {Chen Xi} and Zhou, {Meng Chu}",

note = "Funding Information: The work was supported by National Natural Science Foundation of China under Grants 61872006 and 61472005. Publisher Copyright: {\textcopyright} 2020 IEEE.; 2020 IEEE International Conference on Systems, Man, and Cybernetics, SMC 2020 ; Conference date: 11-10-2020 Through 14-10-2020",

year = "2020",

month = oct,

day = "11",

doi = "10.1109/SMC42975.2020.9282820",

language = "English (US)",

volume = "2020-October",

pages = "836--840",

booktitle = "2020 IEEE International Conference on Systems, Man, and Cybernetics, SMC 2020",

publisher = "Institute of Electrical and Electronics Engineers Inc.",

address = "United States",

}

Zhang, PY, Li, CX & Zhou, MC 2020, Game-theoretic Modeling and Stability Analysis of Blockchain Channels. in 2020 IEEE International Conference on Systems, Man, and Cybernetics, SMC 2020. vol. 2020-October, 9282820, Institute of Electrical and Electronics Engineers Inc., pp. 836-840, 2020 IEEE International Conference on Systems, Man, and Cybernetics, SMC 2020, Toronto, Canada, 10/11/20. https://doi.org/10.1109/SMC42975.2020.9282820

Game-theoretic Modeling and Stability Analysis of Blockchain Channels. / Zhang, Pei Yun; Li, Chen Xi; Zhou, Meng Chu.
2020 IEEE International Conference on Systems, Man, and Cybernetics, SMC 2020. Vol. 2020-October Institute of Electrical and Electronics Engineers Inc., 2020. p. 836-840 9282820.

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

TY - GEN

T1 - Game-theoretic Modeling and Stability Analysis of Blockchain Channels

AU - Zhang, Pei Yun

AU - Li, Chen Xi

AU - Zhou, Meng Chu

PY - 2020/10/11

Y1 - 2020/10/11

N2 - The emergence of channel technology reduces the transaction verification time of blockchains. A channel with a stable state is helpful for completing transactions successfully. Under the assumption of node bounded rationality and replication dynamics of an evolutionary process, this paper presents a dynamic evolutionary game model based on node behaviors in blockchain channels. The model considers the cost of attack, attack success rate, defense, cooperation, and noncooperation strategies during the game process. The defense strategy can help nodes resist different attacks. Nodes can dynamically adjust their own strategies according to different behaviors of attackers to achieve effective defense. The experimental results show that the proposed method is better than a lightning network channel in terms of transaction success ratio.

AB - The emergence of channel technology reduces the transaction verification time of blockchains. A channel with a stable state is helpful for completing transactions successfully. Under the assumption of node bounded rationality and replication dynamics of an evolutionary process, this paper presents a dynamic evolutionary game model based on node behaviors in blockchain channels. The model considers the cost of attack, attack success rate, defense, cooperation, and noncooperation strategies during the game process. The defense strategy can help nodes resist different attacks. Nodes can dynamically adjust their own strategies according to different behaviors of attackers to achieve effective defense. The experimental results show that the proposed method is better than a lightning network channel in terms of transaction success ratio.

KW - Blockchain channel

KW - dynamic evolutionary game

KW - evolutionary equilibrium

KW - game theory

KW - internal attack

KW - optimization

KW - stable state

UR - http://www.scopus.com/inward/record.url?scp=85098872767&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=85098872767&partnerID=8YFLogxK

U2 - 10.1109/SMC42975.2020.9282820

DO - 10.1109/SMC42975.2020.9282820

M3 - Conference contribution

AN - SCOPUS:85098872767

VL - 2020-October

SP - 836

EP - 840

BT - 2020 IEEE International Conference on Systems, Man, and Cybernetics, SMC 2020

PB - Institute of Electrical and Electronics Engineers Inc.

T2 - 2020 IEEE International Conference on Systems, Man, and Cybernetics, SMC 2020

Y2 - 11 October 2020 through 14 October 2020

ER -

Game-theoretic Modeling and Stability Analysis of Blockchain Channels

Abstract

Conference

All Science Journal Classification (ASJC) codes

Keywords

Access to Document

Other files and links

Fingerprint

Cite this