Game of Coins

Abstract

We formalize the current practice of strategic mining in multi-cryptocurrency markets as a game, and prove that any better-response learning in such games converges to equilibrium. We then offer a reward design scheme that moves the system configuration from any initial equilibrium to a desired one for any better-response learning of the miners. Our work introduces the first multi-coin strategic attack for adaptive and learning miners, as well as the study of reward design in a multi-agent system of learning agents.