36 research outputs found
Selfish Mining and Dyck Words in Bitcoin and Ethereum Networks
The main goal of this article is to present a direct approach for the formula giving the long-term apparent hashrates of Selfish Mining strategies using only elementary probabilities and combinatorics, more precisely, Dyck words. We can avoid computing stationary probabilities on Markov chain, nor stopping times for Poisson processes as in previous analysis. We do apply these techniques to other bockwithholding strategies in Bitcoin, and then, we consider also selfish mining in Ethereum
Proof of Reputation
We present the new mining protocol Proof-of-Reputation (PoR) for
decentralized Proof-of-Work (PoW) blockchains, in particular for Bitcoin. PoR
combines the classical PoW with the new ingredient of cryptographic reputation.
The same level of security compared to pure PoW can be achieved with a
significant energy consumption reduction (of the order of 30\%) for the same
security level. The proper implementation of a decentralized reputation
protocol is suitable with an extra layer of mining security: Certified Mining.Comment: 8 page