相关论文: Hashpower allocation in Pay-per-Share blockchain m…

Bitcoin uses blockchain technology and proof-of-work (PoW) mechanism where nodes spend computing resources and earn rewards in return for spending these resources. This incentive system has caused power to be significantly biased towards a…

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…

We argue that the current POW based consensus algorithm of the Bitcoin network suffers from a fundamental economic discrepancy between the real world transaction (txn) costs incurred by miners and the wealth that is being transacted. Put…

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…

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…

This paper opts to mitigate the energy-inefficiency of the Blockchain Proof-of-Work (PoW) consensus algorithm by rationally repurposing the power spent during the mining process. The original PoW mining scheme is designed to consider one…

Proof-of-work blockchains reward each miner for one completed block by an amount that is, in expectation, proportional to the number of hashes the miner contributed to the mining of the block. Is this proportional allocation rule optimal?…

This paper introduces a game-theoretic model tailored for reward distribution on crowd-sourced computing platforms. It explores a repeated game framework where miners, as computation providers, decide their computation power contribution in…

In this paper, we review the undercutting attacks in the transaction-fee-based regime of proof-of-work (PoW) blockchains with the longest chain fork-choice rule. Next, we focus on the problem of fluctuations in mining revenue and the mining…

Blockchain consensus mechanisms must balance security, decentralization, and efficiency while ensuring fair participation. Proof of Team Sprint (PoTS) is a cooperative consensus mechanism designed to address the energy inefficiencies and…

The idea of security sharing goes back to Nakamoto's introduction of merge mining, a technique that enables Bitcoin miners to reuse their hash power to bootstrap and secure other Proof-of-Work (PoW) blockchains. However, with the rise of…

Regardless of their variations, blockchains require a consensus mechanism to validate transactions, supervise added blocks, maintain network security, synchronize the network state, and distribute incentives. Proof-of-Work (PoW), one of the…

An open distributed system can be secured by requiring participants to present proof of work and rewarding them for participation. The Bitcoin digital currency introduced this mechanism, which is adopted by almost all contemporary digital…

A key component of security in decentralized blockchains is proof of opportunity cost among block producers. In the case of proof-of-work (PoW), currently used by the most prominent systems, the cost is due to spent computation. In this…

In cryptocurrencies, the block reward is meant to serve as the incentive mechanism for miners to commit resources to create blocks and in effect secure the system. Existing systems primarily divide the reward in proportion to expended…

We model and analyze blockchain miners who seek to maximize the compound return of their mining businesses. The analysis of the optimal strategies finds a new equilibrium point among the miners and the mining pools, which predicts the…

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…

Proof-of-Work is a consensus algorithm where miners solve cryptographic puzzles to mine blocks and obtain a reward through some Block Reward Mechanism (BRM). PoW blockchain faces the problem of centralization due to the formation of mining…

Does the proof-of-work protocol serve its intended purpose of supporting decentralized cryptocurrency mining? To address this question, we develop a game-theoretical model where miners first invest in hardware to improve the efficiency of…

Mining fairness in blockchain refers to equality between the computational resources invested in mining and the block rewards received. There exists a dilemma wherein increasing the transaction processing capacity of a blockchain…