Corpus ID: 43928742

On profitability of selfish mining

@article{Grunspan2018OnPO,
  title={On profitability of selfish mining},
  author={C. Grunspan and R. P{\'e}rez-Marco},
  journal={ArXiv},
  year={2018},
  volume={abs/1805.08281}
}
  • C. Grunspan, R. Pérez-Marco
  • Published 2018
  • Computer Science, Mathematics
  • ArXiv
  • We review the so called selfish mining strategy in the Bitcoin network and compare its profitability to honest mining.We build a rigorous profitability model for repetition games. The time analysis of the attack has been ignored in the previous literature based on a Markov model,but is critical. Using martingale's techniques and Doob Stopping Time Theorem we compute the expected duration of attack cycles. We discover a remarkable property of the bitcoin network: no strategy is more profitable… CONTINUE READING
    25 Citations

    Figures and Topics from this paper

    Detective Mining: Selfish Mining Becomes Unrealistic under Mining Pool Environment
    • 1
    • PDF
    Profit lag and alternate network mining
    • PDF
    Selfish Mining Re-Examined
    • 7
    • Highly Influenced
    • PDF
    Selfish Mining in Ethereum
    • 6
    • PDF
    On profitability of stubborn mining
    • 13
    • PDF
    A Simulation-Based Analysis of Multiplayer Selfish Mining
    • 1
    • Highly Influenced
    On Profitability of Trailing Mining
    • 14
    • PDF
    Analysing the Benefit of Selfish Mining with Multiple Players
    On the profitability of selfish blockchain mining under consideration of ruin
    • 1
    • PDF

    References

    SHOWING 1-10 OF 20 REFERENCES
    On profitability of stubborn mining
    • 13
    • PDF
    On Profitability of Trailing Mining
    • 14
    • PDF
    Stubborn Mining: Generalizing Selfish Mining and Combining with an Eclipse Attack
    • 311
    • PDF
    Publish or Perish: A Backward-Compatible Defense Against Selfish Mining in Bitcoin
    • 55
    • PDF
    Optimal Selfish Mining Strategies in Bitcoin
    • 392
    • Highly Influential
    • PDF
    Double spend races
    • 37
    • PDF
    Majority Is Not Enough: Bitcoin Mining Is Vulnerable
    • 981
    • Highly Influential
    • PDF
    Bitcoin and Cryptocurrency Technologies - A Comprehensive Introduction
    • 470
    Distributed Ledger Technology: The Science of the Blockchain
    • 16