On Profitability of Trailing Mining
Cryptography and Security
2018-11-26 v1 Probability
Abstract
We compute the revenue ratio of the Trail Stubborn mining strategy in the Bitcoin network and compare its profitability to other block-withholding strategies. We use for this martingale techniques and a classical analysis of the hiker problem. In this strategy the attacker could find himself mining in a shorter fork, but we prove that for some parameter values it is still profitable to not give up. This confirms previous numerical studies.
Keywords
Cite
@article{arxiv.1811.09322,
title = {On Profitability of Trailing Mining},
author = {Cyril Grunspan and Ricardo Pérez-Marco},
journal= {arXiv preprint arXiv:1811.09322},
year = {2018}
}
Comments
19 pages, 4 figures