| 000 -LEADER |
|---|
| fixed length control field |
01210nam a22001577a 4500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
|---|
| fixed length control field |
210710b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME |
|---|
| Personal name |
Leshno, Jacob D. and Strack, Philipp |
| 245 ## - TITLE STATEMENT |
|---|
| Title |
Bitcoin: An axiomatic approach and an impossibility theorem |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) |
|---|
| Place of publication, distribution, etc |
The American Economic Review: Insights |
| 300 ## - PHYSICAL DESCRIPTION |
|---|
| Extent |
2(3), Sep, 2020: p.269-286 |
| 520 ## - SUMMARY, ETC. |
|---|
| Summary, etc |
Bitcoin's main innovation lies in allowing a decentralized system that relies on anonymous, profit-driven miners who can freely join the system. We formalize these properties in three axioms: anonymity of miners, no incentives for miners to consolidate, and no incentive to assuming multiple fake identities. This novel axiomatic formalization allows us to characterize what other protocols are feasible: every protocol with these properties must have the same reward scheme as Bitcoin. This implies an impossibility result for risk-averse miners. Furthermore, any protocol either gives up on some degree of decentralization or its reward scheme is equivalent to Bitcoin's. - Reproduced |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name as entry element |
Cryptocurrencies, Blockchains |
| 9 (RLIN) |
26446 |
| 773 ## - HOST ITEM ENTRY |
|---|
| Main entry heading |
The American Economic Review: Insights |
| 906 ## - LOCAL DATA ELEMENT F, LDF (RLIN) |
|---|
| Subject DIP |
CRYPTOCURRENCIES |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) |
|---|
| Item type |
Articles |
