I never realized just how useful game theory could be to cryptocurrency. Strategy is really important when evaluating the security of a particular crypto, or trying to optimally invest.
There is a new field called cryptoeconomics that studies the application of game theory to cryptocurrencies. Here's an interesting talk about it: https://youtu.be/pKqdjaH1dRo
its entirely game theory because the only way to secure these distributed systems is if the participants all benefit most by enforcing the code and not deviating
All protocols of the world were thought with "game theory" in mind. They just didn't call it by that fancy name.
In a way but I believe it is less direct in other examples. TCP was not built in a way with game theory in mind to give reward to the participants. I believe BTC will thrive because the users and miners are incentivized to strengthen and enforce the system instead of attack it, this was an important and purposeful part of the design.
So true. You have to think of every little action a potential malicious attacker could use and find a way to counter it. It's like a chess game, but with much higher stakes.