• DOI:10.1007/978-3-662-45472-5_28
Corpus ID: 70108782

Majority Is Not Enough: Bitcoin Mining Is Vulnerable

@inproceedings{Eyal2014MajorityIN,
  title={Majority Is Not Enough: Bitcoin Mining Is Vulnerable},
  author={Ittay Eyal and Emin G{\"u}n Sirer},
  booktitle={Financial Cryptography},
  year={2014}
}

Ittay Eyal, Emin Gün Sirer

Published in Financial Cryptography 2014

Computer Science

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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 asserts that the mining protocol is incentive-compatible and secure against colluding minority groups, that is, it incentivizes miners to follow the protocol as prescribed.