A game‐theoretic approach of mixing different qualities of coins

International Journal of Intelligent SystemsVolume 35, Issue 12 p. 1899-1911 RESEARCH ARTICLE A game-theoretic approach of mixing different qualities of coins Xiaozhang Liu, Xiaozhang Liu School of Computer Science & Cyberspace Security, Hainan University, Hainan, ChinaSearch for more papers by this authorXinying Yu, Xinying Yu School of Information Science and Engineering, Qufu Normal University, Rizhao, ChinaSearch for more papers by this authorHaojia Zhu, Haojia Zhu School of Information Science and Engineering, Qufu Normal University, Rizhao, ChinaSearch for more papers by this authorGuoyu Yang, Guoyu Yang School of Information Science and Engineering, Qufu Normal University, Rizhao, ChinaSearch for more papers by this authorYilei Wang, Corresponding Author Yilei Wang ylwangqfnu@163.com School of Information Science and Engineering, Qufu Normal University, Rizhao, China Correspondence Yilei Wang, School of Information Science and Engineering, Qufu Normal University, Rizhao 276825, China. Email: ylwangqfnu@163.comSearch for more papers by this authorXiaomei Yu, Xiaomei Yu School of Information Science and Engineering, Shandong Normal University, Jinan, ChinaSearch for more papers by this author Xiaozhang Liu, Xiaozhang Liu School of Computer Science & Cyberspace Security, Hainan University, Hainan, ChinaSearch for more papers by this authorXinying Yu, Xinying Yu School of Information Science and Engineering, Qufu Normal University, Rizhao, ChinaSearch for more papers by this authorHaojia Zhu, Haojia Zhu School of Information Science and Engineering, Qufu Normal University, Rizhao, ChinaSearch for more papers by this authorGuoyu Yang, Guoyu Yang School of Information Science and Engineering, Qufu Normal University, Rizhao, ChinaSearch for more papers by this authorYilei Wang, Corresponding Author Yilei Wang ylwangqfnu@163.com School of Information Science and Engineering, Qufu Normal University, Rizhao, China Correspondence Yilei Wang, School of Information Science and Engineering, Qufu Normal University, Rizhao 276825, China. Email: ylwangqfnu@163.comSearch for more papers by this authorXiaomei Yu, Xiaomei Yu School of Information Science and Engineering, Shandong Normal University, Jinan, ChinaSearch for more papers by this author First published: 25 August 2020 https://doi.org/10.1002/int.22277Citations: 3Read the full textAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinked InRedditWechat Abstract Perpetrators leverage the untraceable feature to conduct illegal behaviors leading security issues with respect to mixing coins. Generally, bad coins are blocked based on a common blacklist. However, the blacklist may not be updated in time, which results in that bad coins escape the blocking. Consequently, perpetrators can still conduct illicit behaviors such as money laundering. In this paper, we apply game theory under imperfect information to study how coins' quality restrain these illicit behaviors under the incomplete scenario. More specifically, we propose a strategy for participants to submit deposits if they hope to mix coins with others even if they are not in blacklist at this time. The deposits will not be refunded when participants are included in the blacklist after mixing. Therefore, no participants have incentives to mix with bad coins. At the last part of this paper, we also simulate the incomes for participants, which indicates that deposits strategy is effective to prevent illicit behaviors. Citing Literature Volume35, Issue12December 2020Pages 1899-1911 RelatedInformation