Blockchain Governance Game

Research output: Contribution to journalArticlepeer-review

26 Citations (Scopus)


This paper deals with the design of the secure blockchain network framework to prevent damages from an attacker. The decentralized network design called the Blockchain Governance Game is a new hybrid theoretical model and provides a new stochastic game framework to find best strategies for preventing a network malfunction by attackers. Analytically tractable results are obtained by using the fluctuation theory and the mixed strategy game theory. These results enable to predict the moment of operations and deliver the optimal portion of backup 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.

Original languageEnglish
Pages (from-to)373-380
Number of pages8
JournalComputers and Industrial Engineering
Publication statusPublished - Oct 2019
Externally publishedYes


  • 51 percent attack
  • 60C55
  • 60K10
  • 90B15
  • 90B50
  • 91A35
  • 91A55
  • 93A30
  • 93C10
  • 93E03
  • Bitcoin
  • Blockchain
  • Fluctuation theory
  • Mixed game
  • Network security
  • Stochastic model


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