Gans, Joshua; Hałaburda, Hanna - National Bureau of Economic Research - 2023
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 …