Strategic Alliance for Blockchain Governance Game

TL;DR

This paper introduces a hybrid game-theoretic model for Blockchain governance that optimizes strategic alliances among miners to enhance network security and prevent attacks.

Contribution

It develops a novel stochastic hybrid model combining game theory, fluctuation theory, and Blockchain governance to determine optimal alliance strategies.

Findings

Analytically derived decision-making parameters.

Predicted optimal timing for alliance formation.

Guidelines for secure blockchain network deployment.

Abstract

This paper deals with design of the alternative secure Blockchain network framework to prevent damages from an attacker. The concept of the strategic alliance of the management is applied on the top of the recent developed stochastic game framework. This new enhanced hybrid theoretical model has been developed based on the combination of the conventional game theory, the fluctuation theory and the Blockchain Governance Game to find best strategies towards preparation for preventing a network malfunction from an attacker by making the strategic alliance with other genuine miners. Analytically tractable results for decision making parameters are fully obtained which enable to predict the moment for operations and deliver the optimal number of the alliance with other nodes to protect the Blockchain network. This research helps for whom considers the initial coin offering or launching new blockchain based services with enhancing the security features by alliance with the trusted miners within the decentralized network.