Related papers: A Jumping Mining Attack and Solution
In a PoW-based blockchain network, mining pools (the solo miner could be regarded as a mining pool containing one miner) compete to successfully mine blocks to pursue rewards. Generally, the rewards include the fixed block subsidies and…
Proof-of-Work (PoW) is a Sybil control mechanism adopted in blockchain-based cryptocurrencies. It prevents the attempt of malicious actors to manipulate distributed ledgers. Bitcoin has successfully suppressed double-spending by accepting…
The paper constructs a multi-variate Hawkes process model of Bitcoin block arrivals and price jumps. Hawkes processes are selfexciting point processes that can capture the self- and cross-excitation effects of block mining and Bitcoin price…
The emergence of quantum computing presents a formidable challenge to the security of blockchain systems. Traditional cryptographic algorithms, foundational to digital signatures, message encryption, and hashing functions, become vulnerable…
Strategic mining attacks, such as selfish mining, exploit blockchain consensus protocols by deviating from honest behavior to maximize rewards. Markov Decision Process (MDP) analysis faces scalability challenges in modern digital economics,…
Blockchains have witnessed widespread adoption in the past decade in various fields. The growing demand makes their scalability and sustainability challenges more evident than ever. As a result, more and more blockchains have begun to adopt…
Blockchain plays a crucial role in ensuring the security and integrity of decentralized systems, with the proof-of-work (PoW) mechanism being fundamental for achieving distributed consensus. As PoW blockchains see broader adoption, an…
A proof of work (PoW) blockchain protocol distributes rewards to its participants, called miners, according to their share of the total computational power. Sufficiently large miners can perform selfish mining - deviate from the protocol to…
To maintain blockchain-based services with ensuring its security, it is an important issue how to decide a mining reward so that the number of miners participating in the mining increases. We propose a dynamical model of decision-making for…
In-browser cryptojacking involves hijacking the CPU power of a website's visitor to perform CPU-intensive cryptocurrency mining, and has been on the rise, with 8500% growth during 2017. While some websites advocate cryptojacking as a…
Bitcoin and other similar digital currencies on blockchains are not ideal means for payment, because their prices tend to go up in the long term (thus people are incentivized to hoard those currencies), and to fluctuate widely in the short…
A blockchain faces two fundamental challenges. It must motivate users to maintain the system while preventing a minority of these users from colluding and gaining disproportionate control. Many popular public blockchains use monetary…
Blockchain-based cryptocurrencies secure a decentralized consensus protocol by incentives. The protocol participants, called miners, generate (mine) a series of blocks, each containing monetary transactions created by system users. As…
The world-changing blockchain technique provides a novel method to establish a secure, trusted and decentralized system for solving the security and personal privacy problems in Industrial Internet of Things (IIoT) applications. The mining…
Proof of Work (PoW) has extensively served as the foundation of blockchain's security, consistency, and tamper-resistance. However, long has it been criticized for its tremendous and inefficient utilization of computational power and…
Smart Contracts and transactions allow users to implement elaborate constructions on cryptocurrency blockchains like Bitcoin and Ethereum. Many of these constructions, including operational payment channels and atomic swaps, use a building…
We study to what extent the Bitcoin blockchain security permanently depends on the underlying distribution of cryptocurrency market outcomes. We use daily blockchain and Bitcoin data for 2014-2019 and employ the ARDL approach. We test three…
Bitcoin is a decentralized, pseudonymous cryptocurrency that is one of the most used digital assets to date. Its unregulated nature and inherent anonymity of users have led to a dramatic increase in its use for illicit activities. This…
A new variation of blockchain proof of work algorithm is proposed to incentivize the timely execution of image processing algorithms. A sample image processing algorithm is proposed to determine interesting images using analysis of the…
In this paper, we address the critical challenges of double-spending and selfish mining attacks in blockchain-based digital currencies. Double-spending is a problem where the same tender is spent multiple times during a digital currency…