, we construct an information-network model incorporating both information transmitters and information aggregators. Given … network equilibrium, its optimality and the patterns of equilibrium and optimal configuration. We then allow for endogenous … costs, the monocentric network with one aggregator connecting to all other agents as transmitters on a tree graph is the …

consensus mechanisms was an explicit cost (whether it be work or stake) for participation in the network and the opportunity to … propose blocks that would be added to the blockchain. A key rationale for that cost was to make attacks on the network, which … participation requirements do not necessarily result in a sustainably secure network. This suggests that any benefits of an attack …