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SoK: A Stratified Approach to Blockchain Decentralization
- Decentralization in blockchain systems consists of multiple layers, from Hardware to Governance, with Geography as an overarching dimension.
- Key security properties like safety, liveness, privacy, and stability are crucial for distributed ledgers to maintain their integrity.
- A focus on (cyber-)security in blockchain systems assumes an adversarial environment where a single point of failure can compromise the ledger's properties.
- The methodology for analyzing decentralization involves identifying resources, parties controlling them, and risks to ledger properties.
- Assessing decentralization levels requires considering the significance of resources and legal entities behind them.
- The Minimum Decentralization Test (MDT) determines if a single legal entity could influence enough relevant parties to compromise ledger properties.
- The article delves into the importance of each layer in their framework, outlines case studies, and suggests future research directions.
- Authors include Christina Ovezik, Dimitris Karakostas, and Aggelos Kiayias from the University of Edinburgh and IOG.
- The paper is available on arxiv under the CC BY 4.0 DEED license.
- Reference to the OSI conceptual network model's stratification influences the structure of their decentralization analysis.
- Future research suggestions involve exploring various thresholds for acceptable volatility in non-cryptocurrency assets.
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