Prikladnaya Diskretnaya Matematika. Supplement
RUS  ENG    JOURNALS   PEOPLE   ORGANISATIONS   CONFERENCES   SEMINARS   VIDEO LIBRARY   PACKAGE AMSBIB  
General information
Latest issue
Archive

Search papers
Search references

RSS
Latest issue
Current issues
Archive issues
What is RSS



Prikl. Diskr. Mat. Suppl.:
Year:
Volume:
Issue:
Page:
Find






Personal entry:
Login:
Password:
Save password
Enter
Forgotten password?
Register


Prikladnaya Diskretnaya Matematika. Supplement, 2020, Issue 13, Pages 71–77
DOI: https://doi.org/10.17223/2226308X/13/22
(Mi pdma502)
 

Mathematical Methods of Cryptography

Elaboration of selfish-mine strategy

A. V. Cheremushkin

Academy of Cryptography of Russian Federation
References:
Abstract: As it was shown by Ittay Eyal and Emin Gün Sirer, the Bitcoin mining protocol is not incentive-compatible, because there exists an attack in which colluding miners obtain a revenue larger than their fair share. We describe an elaboration of Selfish-Mine Strategy and present an extended model of selfish mining based on independency hypothesis: both groups are made their work independently from each other. We describe a new state machine modelling selfish pool strategy. Let the selfish pool has mining power of $p$, $0<p<1/2$, and the others of $(1-p)$. We also consider the situation in which the others mine a block on the previously private branch (frequency $\gamma(1-p)$), and the others mine a block on the public branch (frequency $(1-\gamma)(1-p)$). Main result is an elaboration of an interval, in which selfish miners will earn more than their relative mining power: 1) for a given $p$, a pool of size $p$ obtains a revenue larger than its relative size for $p$ in the following range: $0 < p \le 0{.}429$ (the left bound coinsides with $\gamma =1$, and the right bound coinsides with $\gamma =0$); 2) for a given $p$, a pool of size $p$ obtains a revenue larger than a revenue of other group in the following range: $0{.}358 \le p \le 0{.}449$.
Keywords: blockchain, mining, Markov model, state machine.
Document Type: Article
UDC: 519.719.1
Language: Russian
Citation: A. V. Cheremushkin, “Elaboration of selfish-mine strategy”, Prikl. Diskr. Mat. Suppl., 2020, no. 13, 71–77
Citation in format AMSBIB
\Bibitem{Che20}
\by A.~V.~Cheremushkin
\paper Elaboration of selfish-mine strategy
\jour Prikl. Diskr. Mat. Suppl.
\yr 2020
\issue 13
\pages 71--77
\mathnet{http://mi.mathnet.ru/pdma502}
\crossref{https://doi.org/10.17223/2226308X/13/22}
Linking options:
  • https://www.mathnet.ru/eng/pdma502
  • https://www.mathnet.ru/eng/pdma/y2020/i13/p71
  • Citing articles in Google Scholar: Russian citations, English citations
    Related articles in Google Scholar: Russian articles, English articles
    Prikladnaya Diskretnaya Matematika. Supplement
    Statistics & downloads:
    Abstract page:103
    Full-text PDF :32
    References:11
     
      Contact us:
     Terms of Use  Registration to the website  Logotypes © Steklov Mathematical Institute RAS, 2024