Two commonly used pricing models in the supplier-retailer setting are the agency pricing model and the wholesale pricing model. In the agency pricing model, the supplier sets the price, whereas in the wholesale pricing model, the price is set by the retailer. In this paper, we focus on the...

We examine whether decentralization is sustainable in the Bitcoin system. The Bitcoin system is a decentralized system in that any participant can potentially verify and record transactions onto a public ledger. Using a game-theoretic model, we show that operating costs and financial constraints...

Bitcoin as a cryptocurrency has received wide public interest. As a decentralized transaction system, Bitcoin relies on the mining process, which is a necessary process to validate transactions. The mining process involves solving complex crypto-puzzles which requires significantly high...

Most cryptocurrencies are blockchain-enabled payment platforms that use a peer-to-peer network to process transactions without any trusted intermediaries. As cryptocurrencies gain popularity, these blockchain platforms face many limitations on scalability and efficiency. To address these...