Related papers: Crystal: Enhancing Blockchain Mining Transparency …
We study the incentives behind double-spend attacks on Nakamoto-style Proof-of-Work cryptocurrencies. In these systems, miners are allowed to choose which transactions to reference with their block, and a common strategy for selecting…
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…
It has been known for some time that the Nakamoto consensus as implemented in the Bitcoin protocol is not totally aligned with the individual interests of the participants. More precisely, it has been shown that block withholding mining…
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 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…
Bitcoin was recently introduced as a peer-to-peer electronic currency in order to facilitate transactions outside the traditional financial system. The core of Bitcoin, the Blockchain, is the history of the transactions in the system…
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…
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…
In a Proof-of-Work blockchain such as Bitcoin mining hashrate is increasing in the block reward. An increase in hashrate reduces network vulnerability to attack (a reduction in security cost) while increasing carbon emissions and…
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…
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…
GHOST, like the longest-chain protocol, is a chain selection protocol and its capability in resisting selfish mining attack has been validated in imperfect blockchains of Bitcoin and its variants (Bitcoin-like). This paper explores an…
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…
Bitcoin's single leader consensus protocol (Nakamoto consensus) suffers from significant transaction throughput and network scalability issues due to the computational requirements of it Proof-of-Work (PoW) based leader selection strategy.…
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…
In this paper, we explore vulnerabilities and countermeasures of the recently proposed blockchain consensus based on proof-of-authority. The proof-of-work blockchains, like Bitcoin and Ethereum, have been shown both theoretically and…
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…
Proof-of-Work blockchain, despite its numerous benefits, is still not an entirely secure technology due to the existence of Selfish Mining (SM) strategies that can disrupt the system and its mining economy. While the effect of SM has been…
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…
Blockchain is a decentralized, distributed ledger technology that ensures transparency, security, and immutability through cryptographic techniques. However, advancements in quantum computing threaten the security of classical cryptographic…