Related papers: A Jumping Mining Attack and Solution
Proof-of-work blockchains must implement a difficulty adjustment algorithm (DAA) in order to maintain a consistent inter-arrival time between blocks. Conventional DAAs are essentially feedback controllers, and as such, they are inherently…
Bitcoin's (BTC) Difficulty Adjustment Algorithm (DAA) has been a source of vulnerability for incentive attacks such as selfish mining, block withholding and coin hopping strategies. In this paper, first, we rigorously study the short-term…
Cryptocurrencies have gained popularity due to their transparency, security, and accessibility compared to traditional financial systems, with Bitcoin, introduced in 2009, leading the market. Bitcoin's security relies on blockchain…
Mining attacks enable an adversary to procure a disproportionately large portion of mining rewards by deviating from honest mining practices within the PoW-based blockchain system. In this paper, we demonstrate that the security…
Bitcoin uses blockchain technology to maintain transactions order and provides probabilistic guarantee to prevent double-spending, assuming that an attacker's computational power does not exceed %50 of the network power. In this paper, we…
We present a strategy for a single quantum miner with relatively low hashing power, with the same ramifications as a 51% attack. Bitcoin nodes consider the chain with the highest cumulative proof-of-work to be the valid chain. A quantum…
Cryptocurrency achieves distributed consensus using proof of work (PoW). Prior research in blockchain security identified financially incentivized attacks based on withholding blocks which have the attacker compromise a victim pool and pose…
Selfish mining is a well known vulnerability in blockchains exploited by miners to steal block rewards. In this paper, we explore a new form of selfish mining attack that guarantees high rewards with low cost. We show the feasibility of…
Bitcoin-NG, a scalable blockchain protocol, divides each block into a key block and many micro blocks to effectively improve the transaction processing capacity. Bitcoin-NG has a special incentive mechanism (i.e. splitting transaction fees…
Blockchains have recently gained popularity thanks to their ability to record "digital truth". They are designed to keep persistence, security, and avoid attacks which is useful for many applications. However, they are still problematic in…
Mining in proof-of-work blockchains has become an expensive affair requiring specialized hardware capable of executing several megahashes per second at huge electricity costs. Miners earn a reward each time they mine a block within the…
Bitcoin is a "crypto currency", a decentralized electronic payment scheme based on cryptography. Bitcoin economy grows at an incredibly fast rate and is now worth some 10 billions of dollars. Bitcoin mining is an activity which consists of…
Bitcoin mining is a wasteful and resource-intensive process. To add a block of transactions to the blockchain, miners spend a considerable amount of energy. The Bitcoin protocol, named 'proof of work' (PoW), resembles a lottery and the…
Abrupt changes in the miner hash rate applied to a proof-of-work (PoW) blockchain can adversely affect user experience and security. Because different PoW blockchains often share hashing algorithms, miners face a complex choice in deciding…
We propose DIPS Difficulty-based Incentives for Problem Solving), a simple modification of the Bitcoin proof-of-work algorithm that rewards blockchain miners for solving optimization problems of scientific interest. The result is a…
In Proof-of-Work blockchains, difficulty algorithms serve the crucial purpose of maintaining a stable transaction throughput by dynamically adjusting the block difficulty in response to the miners' constantly changing computational power.…
Proof of work blockchain protocols using multiple hash types are considered. It is proven that the security region of such a protocol cannot be the AND of a 51\% attack on all the hash types. Nevertheless, a protocol called Merged Bitcoin…
This work proposes a novel proof-of-work blockchain incentive scheme such that, barring exogenous motivations, following the protocol is guaranteed to be the optimal strategy for miners. Our blockchain takes the form of a directed acyclic…
In the Bitcoin system, participants are rewarded for solving cryptographic puzzles. In order to receive more consistent rewards over time, some participants organize mining pools and split the rewards from the pool in proportion to each…
Envisioned to be the future of secured distributed systems, blockchain networks have received increasing attention from both the industry and academia in recent years. However, blockchain mining processes demand high hardware costs and…