PyIncentiveBC: A Python Module for Simulation of Incentivization Mechanism Implemented in Blockchain-Based Systems

Abstract

The diversity of approaches for retaining participants in a Blockchain-based system complicates benchmarking. The majority of proposals for rewarding and penalizing participants in these systems are limited to their own set of data and scenarios, making it hard to compare their effectiveness. To overcome these challenges, we developed PyIncentiveBC, a free, open-source, and modular simulator designed to evaluate the reliability of any approach, incorporating a dynamic and proportionate incentivization mechanism proposed in our previous work. PyIncentiveBC aims to provide the scientific communities with an extensible software solution facilitating the benchmarking of existing approaches with new ones proposed by them.

Keywords

• reward-penalty mechanism
• incentivization mechanism
• blockchain
• consensus algorithm
• distributed system
• loyalty programs