Delayed Blockchain Protocols

04/18/2018

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by   Drew Stone, et al.

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Given the parallels between game theory and consensus, it makes sense to intelligently design blockchain or DAG protocols with an incentive-compatible-first mentality. To that end, we propose a new blockchain or DAG protocol enhancement based on delayed rewards. We devise a new method for imposing slashing conditions on miner behavior, using their delayed rewards as stake in a Proof of Work system. Using fraud proofs, we can slash malicious miner behavior and reward long-lived, honest behavior.