Proof of Game (PoG): A game theory based consensus model

Abstract

Now-a-days, Blockchain networks are widely accepted in various applications for its enhanced security levels. Blockchain characteristics like: peer-to-peer, decentralized and immutable distributed ledger makes this technology acceptable to academia, research and industry communities. This work proposes ‘proof-of-game (PoG)’ consensus algorithm suitable for resourceful and resource-constrained devices. Heavy computational challenge in block structure protects the blockchain network from selfish miners and majority attacks. PoG consensus algorithm is suitable for both single and multi-player challenges. It is observed that single and multi-bit challenges increases the resource consumption and makes it difficult for resource constrained device to confirm block in stipulated time period. However, a multi-round multi-bits challenge makes it feasible for resource constrained devices to provide high security within specified time period. In implementation, it is observed that mined blocks indicates the chances of attacks. Large number of blocks are mined if block miner is honest, computational challenge is high and number of participants associated with block is large. Similar scenario is possible with transactions. In results, it is observed that presence of large selfish miners decreases the blocks mined exponentially with increase in computational challenge.