以太坊经济学

IF 7.2 1区经济学 Q1 BUSINESS, FINANCE

Journal of Corporate Finance Pub Date : 2024-12-13 DOI:10.1016/j.jcorpfin.2024.102718

Kose John , Barnabé Monnot , Peter Mueller , Fahad Saleh , Caspar Schwarz-Schilling

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引用次数: 0

摘要

我们提供了关于以太坊区块链协议的全面背景，特别关注参与者的经济激励。我们首先从用户的角度阐明事务生命周期，解释如何在区块链上提交和结算用户事务。之后，我们解释了以太坊协议如何选择提议者提出交易块以纳入区块链，以及证明者如何投票支持或反对这些块。我们讨论了如何使用权益证明协议来选择提议者和证明者，以及如何使用Gasper协议来聚合证明者的投票，从而确定最终的区块链。最后，我们讨论了构建者、搜索者和中继者是如何出现的，以支持和增强以太坊区块生产过程。通过我们的讨论，我们澄清了每个参与者面临的经济权衡以及每个参与者的相关现实世界决策变量。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Economics of Ethereum

We provide comprehensive background regarding the Ethereum blockchain protocol, focusing especially on the economic incentives of participants. We begin by clarifying the transaction life-cycle from the user perspective, explaining how user transactions are submitted and settled on the blockchain. Thereafter, we explain how the Ethereum protocol selects proposers to propose blocks of transactions for inclusion on the blockchain and also attesters to vote for or against those blocks. We discuss both how the Proof-of-Stake protocol is used to select proposers and attesters, and also how the Gasper protocol is used to aggregate attester votes which thereby determine the finalized blockchain. Finally, we discuss how builders, searchers and relays have arisen to support and enhance the Ethereum block production process. Through our discussion, we clarify the economic trade-offs faced by each participant and the associated real-world decision variables for each participant.

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来源期刊

Journal of Corporate Finance BUSINESS, FINANCE-

CiteScore

11.80

自引率

3.30%

发文量

期刊介绍： The Journal of Corporate Finance aims to publish high quality, original manuscripts that analyze issues related to corporate finance. Contributions can be of a theoretical, empirical, or clinical nature. Topical areas of interest include, but are not limited to: financial structure, payout policies, corporate restructuring, financial contracts, corporate governance arrangements, the economics of organizations, the influence of legal structures, and international financial management. Papers that apply asset pricing and microstructure analysis to corporate finance issues are also welcome.