Efficient MDP Analysis for Selfish-Mining in Blockchains
Roi Bar Zur, Ittay Eyal, Aviv Tamar
Abstract
A proof of work (PoW) blockchain protocol distributes rewards to its participants, called miners, according to their share of the total computational power. Sufficiently large miners can perform selfish mining -- deviate from the protocol to gain more than their fair share. Such systems are thus secure if all miners are smaller than a threshold size so their best response is following the protocol.
Topics & Concepts
Protocol (science)Computer scienceProof-of-work systemWork (physics)Power (physics)Computer securityComputer networkBlockchainEngineeringAlternative medicinePhysicsQuantum mechanicsPathologyMechanical engineeringMedicineBlockchain Technology Applications and SecuritySpam and Phishing DetectionData Stream Mining Techniques