A Puff of Steem: Security Analysis of Decentralized Content Curation

Aggelos Kiayias, Benjamin Livshits, Andrés Monteoliva Mosteiro, Orfeas Stefanos Thyfronitis Litos

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract / Description of output

Decentralized content curation is the process through which uploaded posts are ranked and filtered based exclusively on users' feedback. Platforms such as the blockchain-based Steemit employ this type of curation while providing monetary incentives to promote the visibility of high quality posts according to the perception of the participants. Despite the wide adoption of the platform very little is known regarding its performance and resilience characteristics. In this work, we provide a formal model for decentralized content curation that identifies salient complexity and game-theoretic measures of performance and resilience to selfish participants. Armed with our model, we provide a first analysis of Steemit identifying the conditions under which the system can be expected to correctly converge to curation while we demonstrate its susceptibility to selfish participant behaviour. We validate our theoretical results with system simulations in various scenarios.
Original languageEnglish
Title of host publicationInternational Conference on Blockchain Economics, Security and Protocols (Tokenomics 2019)
EditorsVincent Danos, Maurice Herlihy, Maria Potop-Butucaru, Julien Prat, Sara Tucci-Piergiovanni
PublisherSchloss Dagstuhl - Leibniz-Zentrum fuer Informatik, Germany
Number of pages35
ISBN (Print)978-3-95977-108-5
Publication statusPublished - 31 Dec 2019
EventTokenomics, International Conference on Blockchain Economics, Security and Protocols: First edition - Salle Jean Jaurès of Ecole Normale Supérieure, Paris, France
Duration: 6 May 20197 May 2019
Conference number: 1

Publication series

NameOpenAccess Series in Informatics (OASIcs)
PublisherSchloss Dagstuhl - Leibniz-Zentrum fuer Informatik
ISSN (Electronic)2190-6807


ConferenceTokenomics, International Conference on Blockchain Economics, Security and Protocols
Abbreviated titleTokenomics 2019
Internet address

Keywords / Materials (for Non-textual outputs)

  • blockchain
  • content curation
  • decentralized
  • voting


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