Paper 2014/139 Original: eprint.iacr.org/2014/139 ↗
On the Phase Space of Block-Hiding Strategies
Abstract
We calculate the probability of success of block-hiding mining strategies in bitcoin-like networks. These strategies involve building a secret branch of the block-tree and publishing it opportunistically, aiming to replace the top of the main branch and rip the reward associated with the secretly mined blocks. We identify two types of block-hiding strategies and chart the parameter space where those are more beneficial than the standard mining strategy described in Nakamoto's paper. Our analysis suggests a generalization of the notion of the relative hashing power as a measure for a miner's influence on the network. Block-hiding strategies are beneficial only when this measure of influence exceeds a certain threshold.
Metadata
- Available format(s)
PDF- Category
- Implementation
- Publication info
- Preprint.
- History
- 2014-02-25: last updated
- 2014-02-25: published
- Short URL
- https://ia.cr/2014/139
- License
- https://creativecommons.org/licenses/by/4.0/
BibTeX
@misc{cryptoeprint:2014/139,
author = {Assaf Shomer},
title = {On the Phase Space of Block-Hiding Strategies},
howpublished = {Cryptology {ePrint} Archive, Paper 2014/139},
year = {2014},
url = {https://eprint.iacr.org/2014/139}
}