License: Creative Commons Attribution 3.0 Unported license (CC BY 3.0)
When quoting this document, please refer to the following
DOI: 10.4230/OASIcs.Tokenomics.2020.5
URN: urn:nbn:de:0030-drops-135277
URL: http://dagstuhl.sunsite.rwth-aachen.de/volltexte/2021/13527/
Go to the corresponding OASIcs Volume Portal

Bracciali, Andrea ; Grossi, Davide ; de Haan, Ronald

Decentralization in Open Quorum Systems: Limitative Results for Ripple and Stellar

pdf-format:
OASIcs-Tokenomics-2020-5.pdf (0.5 MB)

Abstract

Decentralisation is one of the promises introduced by blockchain technologies: fair and secure interaction amongst peers with no dominant positions, single points of failure or censorship. Decentralisation, however, appears difficult to be formally defined, possibly a continuum property of systems that can be more or less decentralised, or can tend to decentralisation in their lifetime. In this paper we focus on decentralisation in quorum-based approaches to open (permissionless) consensus as illustrated in influential protocols such as the Ripple and Stellar protocols. Drawing from game theory and computational complexity, we establish limiting results concerning the decentralisation vs. safety trade-off in Ripple and Stellar, and we propose a novel methodology to formalise and quantitatively analyse decentralisation in this type of blockchains.

BibTeX - Entry

@InProceedings{bracciali_et_al:OASIcs.Tokenomics.2020.5,
  author =	{Andrea Bracciali and Davide Grossi and Ronald de Haan},
  title =	{{Decentralization in Open Quorum Systems: Limitative Results for Ripple and Stellar}},
  booktitle =	{2nd International Conference on Blockchain Economics, Security and Protocols (Tokenomics 2020)},
  pages =	{5:1--5:20},
  series =	{Open Access Series in Informatics (OASIcs)},
  ISBN =	{978-3-95977-157-3},
  ISSN =	{2190-6807},
  year =	{2021},
  volume =	{82},
  editor =	{Emmanuelle Anceaume and Christophe Bisi\`{e}re and Matthieu Bouvard and Quentin Bramas and Catherine Casamatta},
  publisher =	{Schloss Dagstuhl--Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops.dagstuhl.de/opus/volltexte/2021/13527},
  URN =		{urn:nbn:de:0030-drops-135277},
  doi =		{10.4230/OASIcs.Tokenomics.2020.5},
  annote =	{Keywords: Blockchain, decentralization, game theory, computational complexity}
}

Keywords: Blockchain, decentralization, game theory, computational complexity
Collection: 2nd International Conference on Blockchain Economics, Security and Protocols (Tokenomics 2020)
Issue Date: 2021
Date of publication: 02.02.2021

DROPS-Home | Fulltext Search | Imprint | Privacy Published by LZI