Game-theoretic Modeling and Stability Analysis of Blockchain Channels

Pei Yun Zhang, Chen Xi Li, Meng Chu Zhou

Research output: Chapter in Book/Report/Conference proceedingConference contribution

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 languageEnglish (US)
Title of host publication2020 IEEE International Conference on Systems, Man, and Cybernetics, SMC 2020
PublisherInstitute of Electrical and Electronics Engineers Inc.
Pages836-840
Number of pages5
Volume2020-October
ISBN (Electronic)9781728185262
DOIs
StatePublished - Oct 11 2020
Event2020 IEEE International Conference on Systems, Man, and Cybernetics, SMC 2020 - Toronto, Canada
Duration: Oct 11 2020Oct 14 2020

Conference

Conference2020 IEEE International Conference on Systems, Man, and Cybernetics, SMC 2020
CountryCanada
CityToronto
Period10/11/2010/14/20

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

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