Manuel Mueller-Frank(@ProfMMF):New paper (with Minghao Pan and Omer Tamuz)🚨 Bitcoin functions without a central intermediary, but the decentralized consensus among miners is vulnerable to profitable deviations. We show how Bitcoin’s intended decentralized consensus can be sustained in equilibrium, without redesigning the chain.🧵

Manuel Mueller-Frank

@ProfMMF

Economics Professor at IESE Business School. Decentralization Maximalist. Game Theorist.

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Manuel Mueller-Frank@ProfMMF

2026.08.24 13:36

New paper (with Minghao Pan and Omer Tamuz)🚨 Bitcoin functions without a central intermediary, but the decentralized consensus among miners is vulnerable to profitable deviations. We show how Bitcoin’s intended decentralized consensus can be sustained in equilibrium, without redesigning the chain.🧵