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Economic Incentive Structure for Blockchain Network

  • Huanhuan Sheng
  • Xiang Fan
  • Wei Hu
  • Xing Liu
  • Kai Zhang
Conference paper
Part of the Lecture Notes in Computer Science book series (LNCS, volume 11373)

Abstract

Traditionally the transactions need middleman or the third-party to keep them trustworthy. However, the middleman itself may be the bottleneck of the trust model. When all the transactions are dealt with by the third parties, these third parties may not be trustworthy any more. Blockchain is proposed to eliminate the third parties of the transactions, which will make the trading parties of the transactions “face to face”. Though blockchain can provide the potential solution, it is still in rapid progress. At present, blockchain technology has been widely used to provide reliable transaction support. But the application mechanism is too complex and the demand for high concurrency is strong in some specific industries. This paper introduces a delegated parliament, which is selected from the unified node, whose role is to unite different blockchains and adjust the economic system of the network within a single chain, automatically form a decentralized marked financial market and an economy consensus law that complies with community laws and regulations. This structure is used in Unitary blockchain network, which provides the proof of its efficiency.

Keywords

Blockchain Delegated parliament Economic incentives 

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Copyright information

© Springer Nature Switzerland AG 2018

Authors and Affiliations

  • Huanhuan Sheng
    • 1
    • 2
  • Xiang Fan
    • 3
  • Wei Hu
    • 1
    • 2
  • Xing Liu
    • 1
    • 2
  • Kai Zhang
    • 1
    • 2
  1. 1.College of Computer ScienceWuhan University of Science and TechnologyWuhanChina
  2. 2.Hubei Province Key Laboratory of Intelligent Information Processing and Real-Time Industrial SystemWuhanChina
  3. 3.UINP LabHangzhouChina

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