SmartCast: An Incentive Compatible Consensus Protocol Using Smart Contracts

@inproceedings{Kothapalli2017SmartCastAI,
  title={SmartCast: An Incentive Compatible Consensus Protocol Using Smart Contracts},
  author={Abhiram Kothapalli and Andrew Miller and Nikita Borisov},
  booktitle={Financial Cryptography Workshops},
  year={2017}
}
Motivated by the desire for high-throughput public databases (i.e., “blockchains”), we design incentive compatible protocols that run “off-chain”, but rely on an existing cryptocurrency to implement a reward and/or punishment mechanism. Our protocols are incentive compatible in the sense that behaving honestly is a weak Nash equilibrium, even in spite of potentially malicious behavior from a small fraction of the participants (i.e., the BAR model from Clement et al. [7]). To show the… CONTINUE READING

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