A deep dive into blockchain selfish mining

Q Bai, X Zhou, X Wang, Y Xu, X Wang… - ICC 2019-2019 IEEE …, 2019 - ieeexplore.ieee.org
Q Bai, X Zhou, X Wang, Y Xu, X Wang, Q Kong
ICC 2019-2019 IEEE international conference on communications (ICC), 2019ieeexplore.ieee.org
This paper studies a fundamental problem regarding the security of blockchain on how the
existence of multiple misbehaving pools influences the profitability of selfish mining. Each
selfish miner maintains a private chain and makes it public opportunistically for the purpose
of acquiring more rewards incommensurate to his Hashrate. We establish a novel Markov
chain model to characterize all the state transitions of public and private chains. The
minimum requirement of Hashrate together with the minimum delay of being profitable is …
This paper studies a fundamental problem regarding the security of blockchain on how the existence of multiple misbehaving pools influences the profitability of selfish mining. Each selfish miner maintains a private chain and makes it public opportunistically for the purpose of acquiring more rewards incommensurate to his Hashrate. We establish a novel Markov chain model to characterize all the state transitions of public and private chains. The minimum requirement of Hashrate together with the minimum delay of being profitable is derived in close-form. The former reduces to 21.48% with the symmetric selfish miners, while their competition with asymmetric Hashrate puts forward a higher requirement of the profitable threshold. The profitable delay increases with the decrease of the Hashrate of selfish miners, making the mining pools more cautious on performing selfish mining.
ieeexplore.ieee.org
Showing the best result for this search. See all results