Abstract
This paper deals with design of an alternative secure Blockchain network framework to prevent damages from an attacker. The alliance concept from the strategic management perspectives is applied on the top of a general stochastic game framework. This new enhanced hybrid theoretical model is designed to find the best strategies toward preparation for preventing a network malfunction from an attacker through strategic alliances with other genuine nodes and it is developed based on the combination of a strategic management framework and a conventional stochastic model based on the Blockchain Governance Game. Analytically, tractable results for decision-making parameters are fully obtained to predict of the moment for operations and also to provide the optimal number of allegiance nodes to protect a Blockchain network. This research helps those whom are considering initial coin offering or launching new Blockchain-based services by enhancing security features through strategic alliances in a decentralized network.
| Original language | English |
|---|---|
| Pages (from-to) | 184-200 |
| Number of pages | 17 |
| Journal | Probability in the Engineering and Informational Sciences |
| Volume | 36 |
| Issue number | 1 |
| DOIs | |
| Publication status | Published - 1 Jan 2022 |
Keywords
- 51 percent attack
- Blockchain Governance Game
- fluctuation theory
- mixed game
- stochastic model
- strategic alliance