International Conference on Blockchain Economics,
International Conference on Blockchain Economics, Security and Protocols (Tokenomics) Year 2019 Peer-reviewed
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Computer Science · Research

A Puff of Steem

Aggelos Kiayias Benjamin Livshits Andr\'es Monteoliva Mosteiro Orfeas Stefanos Thyfronitis Litos
2019
Publication year
Blockchain
Venue
Peer-reviewed
Type
§ Abstract

Problem

Abstract 15 Decentralized content curation is the process through which uploaded posts are ranked and filtered 16 based exclusively on users’ feedback. Platforms such as the blockchain-based Steemit2 employ this 17 type of curation while providing monetary incentives to promote the visibility of high quality posts 18 according to the perception of the participants.

Approach

Despite the wide adoption of the platform very 19 little is known regarding its performance and resilience characteristics. In this work, we provide a 20 formal model for decentralized content curation that identifies salient complexity and game-theoretic 21 measures of performance and resilience to selfish participants.

Results

Armed with our model, we provide 22 a first analysis of Steemit identifying the conditions under which the system can be expected to 23 correctly converge to curation while we demonstrate its susceptibility to selfish participant behaviour. 24 We validate our theoretical results with system simulations in various scenarios. 25 2012 ACM Subject Classification Security and privacy →Distributed systems security 26

Cite this paper — BibTeX 
@InProceedings{kiayias19steem,
  title = "A Puff of {Steem}: Security Analysis of Decentralized Content Curation",
  author = "Aggelos Kiayias and Benjamin Livshits and Andr\'es Monteoliva Mosteiro and Orfeas Stefanos Thyfronitis Litos",
  year = "2019",
  month = may,
  booktitle = "International Conference on Blockchain Economics, Security and Protocols (Tokenomics)",
}
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