The Existence of Consensus Equilibria for Data Trading under the Framework of Internet of Things (IoT) with Blockchain Ecosystems
Di Lan, George Xianzhi Yuan, Tu Zeng, Qianyou Zhang, Xiaojing Zhang · Procedia Computer Science · 2020
The goal of this paper is to use a new notion called “Consensus Game (CG)” with motivation from the mechanism design of blockchain economy under the consensus incentives from Bitcoin ecosystems in financial technology (Fintech) to study the existence of equilibria for the data trading under the framework of Internet of Things (IoT). By a fact that for a given sets of sensors, sensors may take action in cooperative, or noncooperative strategies (games), we formulate s model (called “Consensus Game of IoT”) to analyze this competitive situation among the sensors with the mixture of cooperative and noncooperative strategy (game). Then we provide the analytical condition for the existence of the consensus games of IoT in general. The application shows that the concept of consensus games of IoT may play a key role for the study of data trading under the framework of IoT associated with Blockchain ecosystems.