Fairness in ERC Token Markets: A Case Study of CryptoKitties. Sako, K., Matsuo, S., & Meier, S. In Bernhard, M., Bracciali, A., Gudgeon, L., Haines, T., Klages-Mundt, A., Matsuo, S., Perez, D., Sala, M., & Werner, S., editors, Financial Cryptography and Data Security. FC 2021 International Workshops, of Lecture Notes in Computer Science, pages 595–610, Berlin, Heidelberg, 2021. Springer. doi abstract bibtex Fairness is an important trait of open, free markets. Ethereum is a platform meant to enable digital, decentralized markets. Though many researchers debate the market’s fairness, there are few discussions around the fairness of automated markets, such as those hosted on Ethereum. In this paper, using pilot studies, we consider unfair factors caused by adding the program. Because CryptoKitties is one of the major blockchain-based games and has been in operation for an extended period of time, we focus on its market to examine fairness. As a result, we concluded that a gene determination algorithm in this game has little randomness, and a significant advantage to gain profit is given to players who know its bias over those who do not. We state incompleteness and impact of the algorithm and other factors. Besides, we suppose countermeasures to reduce CryptoKitties’ unfairness as a market.
@inproceedings{sako_fairness_2021,
address = {Berlin, Heidelberg},
series = {Lecture {Notes} in {Computer} {Science}},
title = {Fairness in {ERC} {Token} {Markets}: {A} {Case} {Study} of {CryptoKitties}},
isbn = {978-3-662-63958-0},
shorttitle = {Fairness in {ERC} {Token} {Markets}},
doi = {10.1007/978-3-662-63958-0_42},
abstract = {Fairness is an important trait of open, free markets. Ethereum is a platform meant to enable digital, decentralized markets. Though many researchers debate the market’s fairness, there are few discussions around the fairness of automated markets, such as those hosted on Ethereum. In this paper, using pilot studies, we consider unfair factors caused by adding the program. Because CryptoKitties is one of the major blockchain-based games and has been in operation for an extended period of time, we focus on its market to examine fairness. As a result, we concluded that a gene determination algorithm in this game has little randomness, and a significant advantage to gain profit is given to players who know its bias over those who do not. We state incompleteness and impact of the algorithm and other factors. Besides, we suppose countermeasures to reduce CryptoKitties’ unfairness as a market.},
language = {en},
booktitle = {Financial {Cryptography} and {Data} {Security}. {FC} 2021 {International} {Workshops}},
publisher = {Springer},
author = {Sako, Kentaro and Matsuo, Shin’ichiro and Meier, Sachin},
editor = {Bernhard, Matthew and Bracciali, Andrea and Gudgeon, Lewis and Haines, Thomas and Klages-Mundt, Ariah and Matsuo, Shin'ichiro and Perez, Daniel and Sala, Massimiliano and Werner, Sam},
year = {2021},
keywords = {CryptoKitties, Financial market fairness, Smart contracts},
pages = {595--610},
}
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