Explore game theory applications in blockchain ecosystems through this lecture from the Simons Institute. Delve into the economics of mining pools, token offerings, DAOs, and consensus protocols. Examine why mining pools arise, their impact on hash rates, and the game theory behind their operations. Investigate initial core offerings, platform models, and various solution concepts. Analyze token performance, security tokens, and the role of forward induction. Consider participation costs, the wisdom of the crowd, and concepts like common stock and equal sharing in blockchain systems. Gain insights into how game theory shapes the dynamics of decentralized networks and cryptocurrency economies.
Game Theory Applied to Mining Pools, Token Offering, DAO, and Consensus Protocols