This is a conceptual framework used to analyze blockchain technology. It simplifies complex systems into fundamental components and relationships for theoretical examination. This model abstracts away specific implementation details to focus on the core principles governing distributed ledgers, transaction validation, and network consensus. It serves as a foundational tool for understanding the architectural underpinnings of various blockchain networks and their operational characteristics, facilitating comparative analysis and theoretical advancement.
Context
Discussions around abstract blockchain models are prevalent in academic research and the development of new consensus algorithms. The ongoing debate centers on their utility in predicting the behavior of novel blockchain architectures and their capacity to represent real-world network dynamics accurately. Future developments may involve more sophisticated abstract models that can better account for emergent properties and complex interactions within distributed systems.
This research establishes a rigorous, abstract model for Maximal Extractable Value, enabling formal security proofs for blockchain protocols and smart contracts.
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