Welcome to the resource topic for 2014/139
Title:
On the Phase Space of Block-Hiding Strategies
Authors: Assaf Shomer
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.
ePrint: https://eprint.iacr.org/2014/139
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