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The Economics of Blockchain Consensus
Exploring the Key Tradeoffs in Blockchain Design
Buch von Joshua Gans
Sprache: Englisch

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Beschreibung
Blockchain technologies have been rapidly adopted for the creation of cryptocurrencies and have been explored for a myriad of applications. While this is of important economic interest, the computer science behind how blockchains operate to provide security and provenance has been largely inaccessible to economists. This book is a bridge between the computer science and the economics of blockchains.

The focus is on the value and the achievement of blockchain consensus; that is, how distributed and independent nodes are able to reach an agreement on what the current state of digital ledgers, that are the product of blockchains, are. The book shows that the goals of computer scientists in designing blockchains place very high weight on security beyond what an economist trained in game theory and mechanism design would require. It shows how blockchains can be redesigned to account for key economic trade-offs, and will be of interest to researchers and students of economics, financial technology and computer science, alongside policymakers.
Blockchain technologies have been rapidly adopted for the creation of cryptocurrencies and have been explored for a myriad of applications. While this is of important economic interest, the computer science behind how blockchains operate to provide security and provenance has been largely inaccessible to economists. This book is a bridge between the computer science and the economics of blockchains.

The focus is on the value and the achievement of blockchain consensus; that is, how distributed and independent nodes are able to reach an agreement on what the current state of digital ledgers, that are the product of blockchains, are. The book shows that the goals of computer scientists in designing blockchains place very high weight on security beyond what an economist trained in game theory and mechanism design would require. It shows how blockchains can be redesigned to account for key economic trade-offs, and will be of interest to researchers and students of economics, financial technology and computer science, alongside policymakers.
Über den Autor

Joshua Gans is a Professor of Strategic Management and holder of the Jeffrey S. Skoll Chair in Technical Innovation and Entrepreneurship at the Rotman School of Management, University of Toronto. He is also chief economist of its Creative Destruction Lab and oversees its blockchain program for startups.

Zusammenfassung

Identifies key areas for further development for blockchain operations

Focuses on consensus issues within the distributed ledger

Discusses the opportunities to employ mechanism and market design

Inhaltsverzeichnis
Chapter 1 Introduction.- Chapter 2: The Value of Blockchain Consensus.- Chapter 3: Security versus timeliness.- Chapter 4: Permissioned versus permissionless.- Chapter 5: Proof of work versus proof of stake.- Chapter 6: Cryptography versus incentives.- Chapter 7: Rules versus mechanisms.
Details
Erscheinungsjahr: 2023
Fachbereich: Volkswirtschaft
Genre: Wirtschaft
Rubrik: Recht & Wirtschaft
Medium: Buch
Inhalt: xi
124 S.
6 s/w Illustr.
1 farbige Illustr.
124 p. 7 illus.
1 illus. in color.
ISBN-13: 9783031330827
ISBN-10: 303133082X
Sprache: Englisch
Ausstattung / Beilage: HC runder Rücken kaschiert
Einband: Gebunden
Autor: Gans, Joshua
Hersteller: Springer International Publishing
Maße: 216 x 153 x 13 mm
Von/Mit: Joshua Gans
Erscheinungsdatum: 30.06.2023
Gewicht: 0,298 kg
Artikel-ID: 126815044
Über den Autor

Joshua Gans is a Professor of Strategic Management and holder of the Jeffrey S. Skoll Chair in Technical Innovation and Entrepreneurship at the Rotman School of Management, University of Toronto. He is also chief economist of its Creative Destruction Lab and oversees its blockchain program for startups.

Zusammenfassung

Identifies key areas for further development for blockchain operations

Focuses on consensus issues within the distributed ledger

Discusses the opportunities to employ mechanism and market design

Inhaltsverzeichnis
Chapter 1 Introduction.- Chapter 2: The Value of Blockchain Consensus.- Chapter 3: Security versus timeliness.- Chapter 4: Permissioned versus permissionless.- Chapter 5: Proof of work versus proof of stake.- Chapter 6: Cryptography versus incentives.- Chapter 7: Rules versus mechanisms.
Details
Erscheinungsjahr: 2023
Fachbereich: Volkswirtschaft
Genre: Wirtschaft
Rubrik: Recht & Wirtschaft
Medium: Buch
Inhalt: xi
124 S.
6 s/w Illustr.
1 farbige Illustr.
124 p. 7 illus.
1 illus. in color.
ISBN-13: 9783031330827
ISBN-10: 303133082X
Sprache: Englisch
Ausstattung / Beilage: HC runder Rücken kaschiert
Einband: Gebunden
Autor: Gans, Joshua
Hersteller: Springer International Publishing
Maße: 216 x 153 x 13 mm
Von/Mit: Joshua Gans
Erscheinungsdatum: 30.06.2023
Gewicht: 0,298 kg
Artikel-ID: 126815044
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