Abstract

In this paper, we make a theoretical analysis from a coordination perspective and conclude that the Proof-of-Work (PoW) algorithm is a stigmergic consensus algorithm where the trace left by an action in the blockchain through indirect coordination of agents stimulates subsequent actions and eventually creates a single chain of blocks.

Önder Gürcan

Senior Researcher

My research interests include multi-agent systems, collective intelligence, self-organization and self-adaptation, simulation of biological systems, distributed clock synchronization and behavioural economics.