The value of a non-cooperative game system

特邀专栏作者

2021-03-06 09:32

This article is about 1977 words, reading the full article takes about 3 minutes

The rare attributes reflected in the general equilibrium under the non-cooperative game are the most valuable things in the blockchain.

Written by | NESTFANS.ZHIYU

Produced | NEST Fans (nestfans.com)

introduction:Written by | NESTFANS.ZHIYU

Produced | NEST Fans (nestfans.com)

introduction:In the research of blockchain, we usually fall into a real-world logic - how to use blockchain technology to change life. For example, the application of medical care, government affairs, supply chain, communication, storage, etc. in the real world is a normal logical thinking orientation, and it is also a way for the application of blockchain technology to be implemented and generally accepted. However, we start from more Looking at it from a high-level perspective, when we stand on top of Bitcoin, the source of the blockchain, what it brings us is a brand-new social experiment in human society, which needs to be gradually explored to form new ecology and theories, not old wine in new bottles, Mapping of the old world.

non-cooperative game concept

A non-cooperative game refers to a non-cooperative framework that treats all human actions as individual actions in a strategic setting.

It mainly emphasizes that a person makes autonomous decisions independently of others in the strategic environment. Usually that is what we literally mean by game. The game does not only contain elements of conflict, but in many cases, it contains both elements of conflict and cooperation. That is, conflict and cooperation overlap.Simple understanding: In an agreement, my strategy will affect your interests, and your strategy will affect my interests.

In non-cooperative games, there is another very important theory called non-cooperative game equilibrium, which is what we usually call Nash equilibrium.

In a game process, regardless of the opponent's strategy choice, one party will choose a certain strategy, and this strategy is called dominant strategy.

If any player chooses the best strategy when the strategies of all other players are determined, then this combination is defined as Nash equilibrium.

A strategy portfolio is called a Nash equilibrium, when each player's equilibrium strategy is to maximize his own expected payoff, while all other players follow such a strategy.

A simple understanding is: in the game process of your strategy and mine, my strategy game is out of equilibrium and reaches the optimum, then you should also follow my strategy to maximize your benefits.

Evaluation of Non-Cooperative Game Systems

Bitcoin system is a typical non-cooperative game system.

Aside from the game in the Bitcoin secondary market, from the perspective of Bitcoin’s underlying mining protocol, the output of each Bitcoin is dug out through a non-cooperative game of miners. A miner's mining strategy will affect all players participating in the game. When a certain miner's mining strategy can obtain greater computing power or more advanced equipment to mine more bitcoins, other players will follow this strategy , connect to a pool with a larger computing power, purchase the same mining machine, and take the development of the entire ecology as a common goal.In the real world, it is impossible for any company to play a non-cooperative game in the production process. It is a cooperative game. This is not to argue which is better or worse, but Bitcoin provides a classic non-cooperative game theory. practice model.

The essence of this model is inseparable from the ideology of "decentralization".

Bitcoin's point-to-point electronic cash system, an encrypted ecology that has evolved over twelve years,

It is fundamentally to defeat the weakness of the "trust-based model". Any third party is untrustworthy, so you have to verify it yourself and believe in yourself.

In the early days, in order to find a more suitable valuation for Bitcoin, we made a comprehensive evaluation from the number of nodes, the amount of holding addresses, the number of holding addresses, mining computing power, players participating in the game, etc. These data show exactly the decentralization of Bitcoin. In addition, what Bitcoin solves is a solution that data cannot be tampered with and combat inflation in the real world.

This is the great potential brought by the non-cooperative game system, which is the product of promoting the progress of human society.

Summarize

However, nowadays, the development of blockchain is becoming more and more "based on trust", and the development of so-called usability is moving closer. The current valuation of various projects also evaluates blockchain projects based on throughput, transaction processing speed, transaction volume, lock-up volume, user volume, etc., and no longer cares about its degree of decentralization and game theory research. According to the current judgment on the blockchain project, the transaction speed and usage level of Bitcoin should be worthless.

A simple interrogative sentence can explain: as a system for processing transfers, among the 100 Gamers participating in the game in the Bitcoin system and the 100 participating Users in Huobi Heco, who will generate more value?

Summarize

The theoretical research we have drawn is also a conclusion drawn from the current development of Bitcoin. Theoretical research in any industry is a cyclical improvement of theory, practice, and conclusions.

BTC

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