Social welfare refers to the overall well-being and prosperity of a society, often measured by various economic and social indicators. This concept includes factors such as income distribution, access to healthcare and education, public safety, and environmental quality. Governments and organizations implement policies and programs aimed at improving these conditions for their citizens. The goal is to ensure a reasonable standard of living and equitable opportunities for all members of a community.
Context
The application of blockchain technology and digital assets is increasingly discussed in the context of improving social welfare, particularly through initiatives like transparent aid distribution, verifiable identity systems, and decentralized governance models. Debates frequently arise regarding the potential for these technologies to address financial exclusion and corruption versus concerns about regulatory oversight and digital divides. Future projects may focus on leveraging blockchain for public goods funding and enhancing the efficiency of social service delivery.
A new game-theoretic mechanism, SAKA, circumvents a fundamental impossibility result, achieving incentive-compatibility and 50% welfare for transaction ordering.
A new mechanism and game-theoretic property ensure that concurrent block producers in leaderless protocols are incentivized to maximize social welfare.
The SAKA mechanism explicitly integrates MEV searchers into transaction fee design, circumventing impossibility results to ensure full incentive-compatibility.
A novel adjustable block size mechanism quantifies and reduces social welfare loss from selfish miner behavior in blockchain order books, enhancing market efficiency.
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