Evolutionary Game for Mining Pool Selection in Blockchain Networks

@article{Liu2018EvolutionaryGF,
  title={Evolutionary Game for Mining Pool Selection in Blockchain Networks},
  author={Xiaojun Liu and Wenbo Wang and Dusit Niyato and Narisa Zhao and Ping Wang},
  journal={IEEE Wireless Communications Letters},
  year={2018},
  volume={7},
  pages={760-763}
}
In proof-of-work-based blockchain networks, the block miners participate in a crypto-puzzle solving competition to win the reward of publishing (i.e., mining) new blocks. Due to the remarkable difficulty of the crypto-puzzle, individual miners tend to join mining pools to secure stable profits. We study the dynamics of mining pool selection in a blockchain network, where mining pools may choose arbitrary block mining strategies. We identify the hash rate for puzzle-solving and the block… CONTINUE READING
8
Twitter Mentions

Similar Papers

Citations

Publications citing this paper.
SHOWING 1-10 OF 16 CITATIONS

A Survey on Applications of Game Theory in Blockchain

VIEW 2 EXCERPTS
CITES METHODS & BACKGROUND

Design of Trusted B2B Market Platforms using Permissioned Blockchains and Game Theory

Shivika Narang, Megha Byali, Pankaj Dayama, Vinayaka Pandit, Y Narahari
  • 2019 IEEE International Conference on Blockchain and Cryptocurrency (ICBC)
  • 2019

References

Publications referenced by this paper.
SHOWING 1-10 OF 11 REFERENCES

Bitcoin and Beyond: A Technical Survey on Decentralized Digital Currencies

  • IEEE Communications Surveys & Tutorials
  • 2015
VIEW 6 EXCERPTS
HIGHLY INFLUENTIAL

Bitcoin: A peer-to-peer electronic cash system,

S. Nakamoto
  • Selfpublished Paper,
  • 2008
VIEW 7 EXCERPTS
HIGHLY INFLUENTIAL

The Bitcoin Backbone Protocol: Analysis and Applications

  • IACR Cryptology ePrint Archive
  • 2014
VIEW 3 EXCERPTS
HIGHLY INFLUENTIAL

and A

B. A. Fisch, R. Pass
  • Shelat, “Socially optimal mining pools,” arXiv preprint arXiv:1703.03846
  • 2017
VIEW 1 EXCERPT

The Bitcoin Mining Game

  • Ledger
  • 2016
VIEW 3 EXCERPTS