chapter  Chapter 6
23 Pages

Cryptoeconomics and the Security of Blockchain

WithJian Gong, Wei Xu

Cryptoeconomics is easily associated with economics in the real world. In the encrypted digital world, all the operating rules have been determined by the code, and most of the code rules are mainly open source, that is to say the last chain that can be left is the one that gains the majority of consensus. Since the soft forks create limited changes to the network, the main focus is on the changes that the hard forks bring to the entire ecosystem. The chapter illustrates the principles of sybil attacks on blockchain networks. In fact, in terms of sybil attacks, it is easier to attack on a traditional network. Human beings are constantly pursuing freedom and equality. For the first time, the emergence of Bitcoin gives almost everyone the freedom to control their wealth and create wealth equally.