Ivan on Tech Academy provides latest insights and reports about the blockchain industry.
Game theory blockchain applications can help you understand how decentralized cryptoeconomic systems work without falling victim to internal disintegration and cheating. Game theory is a study of mathematical models of strategic interaction and decision-making between rational decision-makers.
While game theory can be both cooperative and non-cooperative, we will be looking exclusively into the latter since a decentralized, cryptoeconomic environment is, by design, a trustless and non-cooperative one.
Your typical game theory model has three components:
First devised by John von Neumann and Osker Morgenstern in 1944, game theory was a significant breakthrough in the study of oligopoly markets.
Market structure is the...