Related papers: Partial Selfish Mining for More Profits
The core of many cryptocurrencies is the decentralised validation network operating on proof-of-work technology. In these systems, validation is done by so-called miners who can digitally sign blocks once they solve a computationally-hard…
Blockchain security is threatened by selfish mining, where a miner (operator) deviates from the protocol to increase their revenue. Selfish mining is exacerbated by adverse conditions: rushing (network propagation advantage for the selfish…
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…
We describe and analyze perishing mining, a novel block-withholding mining strategy that lures profit-driven miners away from doing useful work on the public chain by releasing block headers from a privately maintained chain. We then…
We study the strategic considerations of miners participating in the bitcoin's protocol. We formulate and study the stochastic game that underlies these strategic considerations. The miners collectively build a tree of blocks, and they are…
In the context of the `selfish-mine' strategy proposed by Eyal and Sirer, we study the effect of propagation delay on the evolution of the Bitcoin blockchain. First, we use a simplified Markov model that tracks the contrasting states of…
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…
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…
Bitcoin-NG is an extensible blockchain protocol based on the same trust model as Bitcoin. It divides each epoch into one Key-Block and multiple Micro-Blocks, effectively improving transaction processing capacity. Bitcoin-NG adopts a special…
Mining for Bitcoins is a high-risk high-reward activity. Miners, seeking to reduce their variance and earn steadier rewards, collaborate in pooling strategies where they jointly mine for Bitcoins. Whenever some pool participant is…
Selfish mining, which is an attack on the integrity of the Bitcoin network, was first proposed by Cornell researchers Emin Gun Sirer and Ittay Eyal in 2013. Selfish mining attack also exists in most Nakamoto consensus protocols. Generally…
Blockchain protocols incentivize participation through monetary rewards, assuming rational actors behave honestly to maximize their gains. However, attackers may attempt to harm others even at personal cost. These denial of profit attacks…
Many of today's crypto currencies use blockchains as decentralized ledgers and secure them with proof of work. In case of a fork of the chain, Bitcoin's rule for achieving consensus is selecting the longest chain and discarding the other…
Bitcoin and Ethereum are the top two blockchain-based cryptocurrencies whether from cryptocurrency market cap or popularity. However, they are vulnerable to selfish mining and stubborn mining due to that both of them adopt Proof-of-Work…
Following the publication of Bitcoin's arguably most famous attack, selfish mining, various works have introduced mechanisms to enhance blockchain systems' game theoretic resilience. Some reward mechanisms, like FruitChains, have been shown…
Mining blocks in a blockchain using the \textit{Proof-of-Work} consensus protocol involves significant risk, as network participants face continuous operational costs while earning infrequent capital gains upon successfully mining a block.…
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…
Cryptocurrency miners have great latitude in deciding which transactions they accept, including their own, and the order in which they accept them. Ethereum miners in particular use this flexibility to collect MEV-Miner Extractable Value-by…
We calculate the probability of success of block-hiding mining strategies in Bitcoin-like networks. These strategies involve building a secret branch of the block-tree and publishing it opportunistically, aiming to replace the top of the…
Bitcoin mining presents a significant economic incentive for efficient hashing and broadcast of data, both parameters stemming from the Proofs of Work used to advance the network. This incentive has led to the development of Bitcoin…