Incentive Analysis of Bitcoin-NG, Revisited

  title={Incentive Analysis of Bitcoin-NG, Revisited},
  author={Jianyu Niu and Ziyu Wang and Fangyu Gai and Chen Feng},
Bitcoin-NG is among the first blockchain protocols to approach the near-optimal throughput by decoupling blockchain operation into two planes: leader election and transaction serialization. Its decoupling idea has inspired a new generation of high-performance blockchain protocols. However, the existing incentive analysis of Bitcoin-NG has several limitations. First, the impact of network capacity is ignored. Second, an integrated incentive analysis that jointly considers both key blocks and… 
Liveness and Consistency of Bitcoin and Prism Blockchains: The Non-lockstep Synchronous Case
  • J. Li, Dongning Guo
  • Computer Science
    2020 IEEE International Conference on Blockchain and Cryptocurrency (ICBC)
  • 2020
This paper presents a streamlined and strengthened analysis of the liveness and consistency of bitcoin and Prism protocols without the finite lifespan assumption and uses the non-lockstep synchronous model which assumes the block propagation delays to be heterogeneous, arbitrary, and upper bounded by some constant.
Game-Theoretical Analysis of Mining Strategy for Bitcoin-NG Blockchain Protocol
The analytical and simulation results indicate that all mining players in the mining game converge to having advanced mining at the equilibrium and have no incentives for deviating from the equilibrium; the transaction processing capability of Bitcoin-NG at theilibrium is decreased by advanced mining.
On the Performance of Pipelined HotStuff
A multi-metric evaluation framework is developed to quantitatively analyze pipelined HotStuff’s performance with respect to its chain growth rate, chain quality, and latency and finds that certain engineering optimizations adopted by LibraBFT make the system more vulnerable to attacks.


Revisiting the Incentive Mechanism of Bitcoin-NG
The incentive mechanism of Bitcoin-NG is revisited and an optimal proportion of transaction fee distribution is put forward, which is determined by the incentive sub-mechanism of longest chain extension.
Game-Theoretic Analysis of Mining Strategy in Bitcoin-NG Blockchain Protocol
This paper identifies the advanced mining attack that deliberately ignores micro blocks to enlarge the mining duration length to increase the likelihood of winning the next mining race and formulate a game-theoretical model in which multiple miners perform advanced mining to compete with each.
Bitcoin-NG: A Scalable Blockchain Protocol
This paper implements Bitcoin-NG, a new blockchain protocol designed to scale, which is Byzantine fault tolerant, is robust to extreme churn, and shares the same trust model obviating qualitative changes to the ecosystem.
A Combined Micro-block Chain Truncation Attack on Bitcoin-NG
A novel attack on Bitcoin-NG, called a micro-block chain truncation attack, combined with key-block selfish and stubborn mining, and an eclipse attack is able to bring extra reward to attackers in Bitcoin- NG than in Bitcoin through a colluded strategy or a “destroyed if no stake” strategy.
Incentivizing Blockchain Forks via Whale Transactions
The results show that double-spend attacks, conventionally thought to be impractical for minority attackers, can actually be financially feasible and worthwhile under the whale attack, and demonstrates that rationality should not underestimated when evaluating the security of cryptocurrencies.
Majority is not enough
This work shows that the Bitcoin mining protocol is not incentive-compatible, and proposes a practical modification to the Bitcoin protocol that protects Bitcoin in the general case, and prohibits selfish mining by a coalition that command less than 1/4 of the resources.
A Secure Sharding Protocol For Open Blockchains
ELASTICO is the first candidate for a secure sharding protocol with presence of byzantine adversaries, and scalability experiments on Amazon EC2 with up to $1, 600$ nodes confirm ELASTICO's theoretical scaling properties.
Prism: Deconstructing the Blockchain to Approach Physical Limits
Prism, a new proof-of-work blockchain protocol, which can achieve 1) security against up to 50% adversarial hashing power; 2) optimal throughput up to the capacity C of the network; 3) confirmation latency for honest transactions proportional to the propagation delay D; and eventual total ordering of all transactions.
On the Security and Performance of Proof of Work Blockchains
This paper introduces a novel quantitative framework to analyse the security and performance implications of various consensus and network parameters of PoW blockchains and devise optimal adversarial strategies for double-spending and selfish mining while taking into account real world constraints.
Solida: A Blockchain Protocol Based on Reconfigurable Byzantine Consensus
Solida, a decentralized blockchain protocol based on reconfigurable Byzantine consensus augmented by proof-of-work, improves on Bitcoin in confirmation time, and provides safety and liveness assuming the adversary control less than one-third of the total mining power.