Related papers: Mind the Mining
Blockchain denial of service (BDoS) and selfish mining are the two most crucial attacks on blockchain technology. A classical DoS attack targets the computer network to limit, restrict, or stop accessing the system of authorized users which…
We analyze the economic incentives generated by the proof-of-stake mechanism discussed in the Ethereum Casper upgrade proposal. Compared with proof-of-work, proof-of-stake has a different cost structure for attackers. In Budish (2018),…
Bitcoin is a "crypto currency", a decentralized electronic payment scheme based on cryptography which has recently gained excessive popularity. Scientific research on bitcoin is less abundant. A paper at Financial Cryptography 2012…
The aim of this work is to enhance blockchain security by deepening the understanding of selfish mining attacks in various consensus protocols, especially the ones that have the potential to mitigate selfish mining. Previous research was…
A soft control of the network activity through varying reward in a proof-of-work (PoW) cryptocurrency is reported. Rewards are the necessity to incent the contributors activities (i.e., mining) in order to maintain the PoW network. Contrary…
We study selfish mining attacks in longest-chain blockchains like Bitcoin, but where the proof of work is replaced with efficient proof systems -- like proofs of stake or proofs of space -- and consider the problem of computing an optimal…
We propose a new, more potent attack on decentralized exchanges. This attack leverages absolute commitments, which are commitments that can condition on the strategies made by other agents. This attack allows an adversary to charge monopoly…
Proof-of-work blockchains need to be carefully designed so as to create the proper incentives for miners to faithfully maintain the network in a sustainable way. This paper describes how the economic engineering of the Conflux Network, a…
The recent advances of web-based cryptomining libraries along with the whopping market value of cryptocoins have convinced an increasing number of publishers to switch to web mining as a source of monetization for their websites. The…
We analyze Qubic's publicly claimed selfish mining attack against Monero in 2025. By combining measurements from Monero nodes, the Qubic pool API, and Qubic-network observations, we reconstruct Qubic-attributed blocks and effective hashrate…
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…
Bitcoin draws the highest degree of attention among cryptocurrencies, while coin mining is one of the most important fashion of profiting in the Bitcoin ecosystem. This paper constructs fresh coin circulation networks by tracking the fresh…
The arisen of Bitcoin has led to much enthusiasm for blockchain research and block mining, and the extensive existence of mining pools helps its participants (i.e., miners) gain reward more frequently. Recently, the mining pools are proved…
In the area of blockchain, numerous methods have been proposed for suppressing intentional forks by attackers more effectively than the random rule. However, all of them, except for the random rule, require major updates, rely on a trusted…
Bitcoin is a representative decentralized currency system. For the security of Bitcoin, fairness in the distribution of mining rewards plays a crucial role in preventing the concentration of computational power in a few miners. Here,…
Consider the following set-up for the plot of a possible future episode of the TV series Black Mirror: human brains can be connected directly to the net and MiningMind Inc. has developed a technology that merges a reward system with a…
It is known that a player in a noncooperative game can benefit by publicly restricting his possible moves before play begins. We show that, more generally, a player may benefit by publicly committing to pay an external party an amount that…
This study examines the feasibility and profitability of utilizing surplus electricity for Bitcoin mining. Surplus electricity refers to the remaining electricity after net metering, which can be repurposed for Bitcoin mining to improve…
Selfish miners selectively withhold blocks to earn disproportionately high revenue. The vast majority of the selfish mining literature focuses exclusively on block rewards. Carlsten et al. [2016] is a notable exception, observing that…
This paper studies to what extent the cost of operating a proof-of-work blockchain is intrinsically linked to the cost of preventing attacks, and to what extent the underlying digital ledger security budgets are correlated with the…