Game Theory — Proof of Work & Proof of Stake (Pt1)

MtheoryV
4 min readSep 9, 2021

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I hope y’all enjoy my first step in the analysis of Game Theory and Blockchain. This is a work in progress focused specifically on the Game Theory behind Proof of Work and Proof of Stake consensus protocols. In these slides, I am not trying to dig into all the Game Theoretical aspects of blockchains or cryptocurrencies — although I plan to cover other aspects in future iterations.

This wasn’t me alone, of course. I spent months looking through white papers, learning from others on Medium, watching videos, and trying to soak up years of knowledge that already exists in this space. I also had the help of friends, family, and a Game Theory professor at a top 20 MBA program.

Please read, learn, and question. Please challenge me to see different perspectives as I dig deeper. Keep in mind that these slides are supposed to be relatively undemanding for the reader and I may have skipped over details of the protocol to land on a simplified way of looking at the games. The next version of this analysis will be a 10–15 page paper that I will also share. Thank you for your feedback and help.

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