Garay and Rosario Gennaro, - to ensure robustness [ 16 is an important research direction. They showed how analyzing this problem where cryptography and game theory meet is the design interesting modifications that can affect the efficiency of the protocol.
Since the Bitcoin blockchain is designed as a distributed system - with many nodes distributed around different locations - it needs to rely on the agreement of these nodes in regards to the validation of transactions and blocks. The way bitcoin works is a real-life example of Game Theory: it believes that all owners of bitcoins share the same interest, and so all miners, the way they call the owners of bitcoins, will perform similar behavior in the encrypted coin market. The creation of Bitcoin as a Byzantine fault tolerant BFT system is the result of a harmonious blend of cryptography and game theory. On the other hand, they will win or lose based on their decisions and they will always find a dominant solution in which they buy or not buy bitcoin. The mining nodes that present dishonest behavior will probably lose a lot of money and will get kicked out of the network.
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