全球智库信息集成服务系统(G2TT): More (or Less) Economic Limits of the Blockchain

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w26534
来源ID	Working Paper 26534
	More (or Less) Economic Limits of the Blockchain
	Joshua S. Gans; Neil Gandal
发表日期	2019-12-09
出版年	2019
语种	英语
摘要	This paper extends the blockchain sustainability framework of Budish (2018) to consider proof of stake (in addition to proof of work) consensus mechanisms and permissioned (where the number of nodes are fixed) networks. It is demonstrated that an economically sustainable network will involve the same cost regardless of whether it is proof of work or proof of stake although in the later the cost will take the form of illiquid financial resources. In addition, it is shown that regulating the number of nodes (as in a permissioned network) does not lead to additional cost savings that cannot otherwise be achieved via a setting of block rewards in a permissionless (i.e., free entry) network. This suggests that permissioned networks will not be able to economize on costs relative to permissionless networks.
主题	Microeconomics ; Macroeconomics ; Monetary Policy ; Industrial Organization ; Market Structure and Firm Performance
URL	https://www.nber.org/papers/w26534
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/584208
推荐引用方式 GB/T 7714	Joshua S. Gans,Neil Gandal. More (or Less) Economic Limits of the Blockchain. 2019.

条目包含的文件
文件名称/大小	资源类型	版本类型	开放类型	使用许可
w26534.pdf（221KB）	智库出版物		限制开放	CC BY-NC-SA	浏览