Related papers: A Jumping Mining Attack and Solution
We propose a mean field game model to study the question of how centralization of reward and computational power occur in Bitcoin-like cryptocurrencies. Miners compete against each other for mining rewards by increasing their computational…
It is an important decision-making problem for a miner in the blockchain networks if he/she participates in the mining so that he/she earns a reward by creating a new block earlier than other miners. We formulate this decision-making…
Blockchain technology has evolved through many changes and modifications, such as smart-contracts since its inception in 2008. The popularity of a blockchain system is due to the fact that it offers a significant security advantage over…
Blockchain technology has developed significantly over the last decade. One of the reasons for this is its sustainability architecture, which does not allow modification of the history of committed transactions. That means that developers…
The pool-hopping attack casts down the expected profits of both the mining pool and honest miners in Blockchain. The mainstream countermeasures, namely PPS (pay-per-share) and PPLNS (pay-per-last-N-share), can hedge pool hopping, but pose a…
The resource-consuming mining of blocks on a blockchain equipped with a proof of work consensus protocol bears the risk of ruin, namely when the operational costs for the mining exceed the received rewards. In this paper we investigate to…
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…
Quantum algorithms can break factoring and discrete logarithm based cryptography and weaken symmetric cryptography and hash functions. In order to estimate the real-world impact of these attacks, apart from tracking the development of…
Selfish Mining is strategic rule-breaking to maximize rewards in proof-of-work protocols [3] and Markov Decision Processes (MDPs) are the preferred tool for finding optimal strategies in Bitcoin [4, 10] and similar linear chain protocols…
We present three very simple variants of the classic Heads or Tails game using chips, each of which contributes to our understanding of the Bitcoin protocol. The first variant addresses the issue of temporary Bitcoin forks, which occur when…
The widespread adoption of blockchain technology has amplified the spectrum of potential threats to its integrity and security. The ongoing quest to exploit vulnerabilities emphasizes how critical it is to expand on current research…
With the onset of the Information Era and the rapid growth of information technology, ample space for processing and extracting data has opened up. However, privacy concerns may stifle expansion throughout this area. The challenge of…
In an age where sustainability is of paramount importance, the significance of both high-performance computing and intelligent algorithms cannot be understated. Yet, these domains often demand hefty computational power, translating to…
Sharding, i.e. splitting the miners or validators to form and run several subchains in parallel, is known as one of the main solutions to the scalability problem of blockchains. The drawback is that as the number of miners expanding each…
The Bitcoin cryptocurrency records its transactions in a public log called the blockchain. Its security rests critically on the distributed protocol that maintains the blockchain, run by participants called miners. Conventional wisdom…
We present an analysis of the Proof-of-Work consensus algorithm, used on the Bitcoin blockchain, using a Mean Field Game framework. Using a master equation, we provide an equilibrium characterization of the total computational power devoted…
Smart contract-enabled blockchains allow building decentralized applications in which mutually-distrusted parties can work together. Recently, oracle services emerged to provide these applications with real-world data feeds. Unfortunately,…
In this paper, we identify a new form of attack, called the Balance attack, against proof-of-work blockchain systems. The novelty of this attack consists of delaying network communications between multiple subgroups of nodes with balanced…
In this work, we reexamine the vulnerability of Payment Channel Networks (PCNs) to bribing attacks, where an adversary incentivizes blockchain miners to deliberately ignore a specific transaction to undermine the punishment mechanism of…
The rise of computational power has led to unprecedented performance gains for deep learning models. As more data becomes available and model architectures become more complex, the need for more computational power increases. On the other…