Understanding Selfish Mining in Imperfect Bitcoin and Ethereum Networks With Extended Forks
| Autor: | Hongyue Kang, Xiaolin Chang, Runkai Yang, Jelena Misic, Vojislav B. Misic |
|---|---|
| Rok vydání: | 2021 |
| Předmět: |
Markov chain
Computer Networks and Communications Computer science TheoryofComputation_GENERAL Markov process 020206 networking & telecommunications 02 engineering and technology Computer security computer.software_genre Transactions per second symbols.namesake Quantitative analysis (finance) Security metric 0202 electrical engineering electronic engineering information engineering symbols Revenue Imperfect Electrical and Electronic Engineering computer Block (data storage) |
| Zdroj: | IEEE Transactions on Network and Service Management. 18:3079-3091 |
| ISSN: | 2373-7379 |
| DOI: | 10.1109/tnsm.2021.3073414 |
| Popis: | Selfish mining, as a serious threat to blockchain, has been attracting attentions from academic and industry. Stochastic modeling has been explored to quantitatively investigate selfish mining in imperfect blockchain networks. However, prior modeling-based analysis approaches have some of the following issues: (1) only focus on Bitcoin or Ethereum, or (2) ignore extended forks and just consider natural forks, or (3) only compute the mining revenue without assessing the performance and security of the blockchain system when the system suffers from selfish mining. In this paper, we aim to address these issues. We build a Markov chain to make quantitative analysis of selfish mining in imperfect Bitcoin and Ethereum networks with natural and extended forks. Formulas are derived to calculate the mining revenue for the selfish pool (comprising selfish miners) and honest miners, respectively. Moreover, we derive the formulas of performance metrics (namely, transactions per second and stale block ratio) and the formula of security metric (namely, the probability of double-spending success) of the system. These quantitative results can help understand the impact of selfish mining on imperfect blockchain networks and then help the detection of selfish mining. |
| Databáze: | OpenAIRE |
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