Trust Evolution Game in Blockchain
Hamda Al Breiki · 2022
One of the main concepts behind Blockchain is trustlessness, where trust is shifted to a new paradigm through Cryptoeconomics. But how can people trust a trustless system? Blockchain protocols employ incentive structures predicated on game theory mechanisms in order to encourage the players (users and miners) in the system to act honestly. Users don't need to trust any single entity and there is no single point of failure that the system relies on(trustless system). In this paper, we developed an abstract game model for blockchain. The game model was for a repeated matrix game to be played by blockchain users. We studied how the game design enforces players to cooperate with each other to benefit the whole players in the network, which increase trust and make the system more trustworthy. Also, we applied two basic learning algorithms to see how the players of the game will evolve over time. We found that the players learn to cooperate in the game to get better payoffs.