Bitcoin Selfish Mining and Dyck Words
Cryptography and Security
2019-02-06 v1 Combinatorics
Probability
Abstract
We give a straightforward proof for the formula giving the long-term apparent hashrate of the Selfish Mining strategy in Bitcoin using only elementary probabilities and combinatorics, and more precisely, Dyck words. There is no need to compute stationary probabilities on Markov chain nor stopping times for Poisson processes as it was previously done. We consider also several other block withholding strategies.
Keywords
Cite
@article{arxiv.1902.01513,
title = {Bitcoin Selfish Mining and Dyck Words},
author = {Cyril Grunspan and Ricardo Pérez-Marco},
journal= {arXiv preprint arXiv:1902.01513},
year = {2019}
}
Comments
5 pages, 1 figure