作者
Tiantian Gong, Mohsen Minaei, Wenhai Sun, Aniket Kate
发表日期
2020/7/22
期刊
Financial Cryptography and Data Security 2022 (FC'22)
简介
Mining processes of Bitcoin and similar cryptocurrencies are currently incentivized with voluntary transaction fees and fixed block rewards which will halve gradually to zero. In the setting where optional and arbitrary transaction fee becomes the prominent/remaining incentive, Carlsten et al. [CCS 2016] find that an undercutting attack can become the equilibrium strategy for miners. In undercutting, the attacker deliberately forks an existing chain by leaving wealthy transactions unclaimed to attract petty complaint miners to its fork. We observe that two simplifying assumptions in [CCS 2016] of fees arriving at fixed rates and miners collecting all accumulated fees regardless of block size limit are often infeasible in practice and find that they are inaccurately inflating the profitability of undercutting. Studying Bitcoin and Monero blockchain data, we find that the fees deliberately left out by an undercutter may not be attractive …
引用总数
2020202120222023336
学术搜索中的文章
T Gong, M Minaei, W Sun, A Kate - … Conference on Financial Cryptography and Data …, 2022
T Gong, M Minaei, W Sun, A Kate - arXiv preprint arXiv:2007.11480, 2020