Consensus formation on heterogeneous networks
Reaching consensus-a macroscopic state where the system constituents display the same microscopic state-is a necessity in multiple complex socio-technical and techno-economic systems: their correct functioning ultimately depends on it. In many distributed systems-of which blockchain-based applicatio...
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| Main Authors: | , , , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2022
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/sis_research/7216 https://ink.library.smu.edu.sg/context/sis_research/article/8219/viewcontent/s13688_022_00347_5_pvoa_cc_by.pdf |
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| Institution: | Singapore Management University |
| Language: | English |
| Summary: | Reaching consensus-a macroscopic state where the system constituents display the same microscopic state-is a necessity in multiple complex socio-technical and techno-economic systems: their correct functioning ultimately depends on it. In many distributed systems-of which blockchain-based applications are a paradigmatic example-the process of consensus formation is crucial not only for the emergence of a leading majority but for the very functioning of the system. We build a minimalistic network model of consensus formation on blockchain systems for quantifying how central nodes-with respect to their average distance to others-can leverage on their position to obtain competitive advantage in the consensus process. We show that in a wide range of network topologies, the probability of forming a majority can significantly increase depending on the centrality of nodes that initiate the spreading. Further, we study the role that network topology plays on the consensus process: we show that central nodes in scale-free networks can win consensus in the network even if they broadcast states significantly later than peripheral ones. |
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