Bandelli, Luca (2021) Inequality In Proof-of-Stake Schemes: A Simulation Study. Bachelor's Thesis, Artificial Intelligence.
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Abstract
A fundamental concern of blockchain systems is dispensing reward to nodes in the network as incentive to align individual interests with the system's purpose. This study investigates the problem of wealth compounding in `Proof of stake' schemes implementing a model described by previous research on the topic. A computer simulation was designed to investigate system dynamics varying number of agents, duration and total dispensed reward. Scheme variations were considered along reward function, proposer selection mechanism, and initial state distribution. Two metrics assessing the equitability of the process as defined in the literature were collected for each simulation as response variables. For initially uniform population, duration predicted an equitability increase, while the log ratio reward/duration (`load') predicted a decrease. Several interactions were also found significant, notably that of 'load' with duration, as well as general differences in mean performance across `scheme variation'. Non-uniform initial distributions were also tested providing interesting insights. Results aligned with previous research, and exposed critical relations between parameters of the simulation algorithm and equitability of the process.
| Item Type: | Thesis (Bachelor's Thesis) |
|---|---|
| Supervisor name: | Grossi, D. |
| Degree programme: | Artificial Intelligence |
| Thesis type: | Bachelor's Thesis |
| Language: | English |
| Date Deposited: | 18 Feb 2021 15:12 |
| Last Modified: | 18 Feb 2021 15:12 |
| URI: | https://fse.studenttheses.ub.rug.nl/id/eprint/23978 |
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