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arXiv:1712.05385math.PR

Equilibria in the Tangle

Serguei Popov, Olivia Saa, Paulo Finardi

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Abstract

We analyse the Tangle --- a DAG-valued stochastic process where new vertices get attached to the graph at Poissonian times, and the attachment's locations are chosen by means of random walks on that graph. These new vertices, also thought of as "transactions", are issued by many players (which are the nodes of the network), independently. The main application of this model is that it is used as a base for the IOTA cryptocurrency system (www.iota.org). We prove existence of "almost symmetric" Nash equilibria for the system where a part of players tries to optimize their attachment strategies. Then, we also present simulations that show that the "selfish" players will nevertheless cooperate with the network by choosing attachment strategies that are similar to the "recommended" one.

arXiv comments
33 pages, 11 figures
Journal reference
Computers & Industrial Engineering, Volume 136, Pages 160-172, October 2019
DOI
doi:10.1016/j.cie.2019.07.025
Subjects
math.PRProbability cs.GTComputer Science and Game Theory

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Linked by 1 identifiable commenter in 1 comment across 1 thread, from Dec 2017 to Dec 2017. Found in 1 HN submission from Dec 2017 to Dec 2017. Open submission discussions.

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Discussed in comments1 thread

  1. IOTA: A tangled mess 1 comment

    • the recent network issues are really annoying but if you run your own full node tx are confirmed in max 20min. something that should be kept in mind IOTA is in early beta and was always promoted as that. when people start to pump it and without reading an announcement right, why…

      jayjay13View on HNParent context

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