Selfish Mining and Dyck Words in Bitcoin and Ethereum Networks
Cryptography and Security
2019-04-17 v1 Combinatorics
Abstract
The main goal of this article is to present a direct approach for the formula giving the long-term apparent hashrates of Selfish Mining strategies using only elementary probabilities and combinatorics, more precisely, Dyck words. We can avoid computing stationary probabilities on Markov chain, nor stopping times for Poisson processes as in previous analysis. We do apply these techniques to other block withholding strategies in Bitcoin, and then, we consider also selfish mining in Ethereum.
Keywords
Cite
@article{arxiv.1904.07675,
title = {Selfish Mining and Dyck Words in Bitcoin and Ethereum Networks},
author = {Cyril Grunspan and Ricardo Pérez-Marco},
journal= {arXiv preprint arXiv:1904.07675},
year = {2019}
}
Comments
10 pages, 4 figures. To appear in Proceedings of Tokenomics, International COnference on Blockchain Economics, Security and Protocols, Paris, 2019