Achieving optimal rewards in cryptocurrency stubborn mining with state transition analysis

Y Zhang, M Zhao, T Li, Y Wang, T Liang - Information Sciences, 2023 - Elsevier
Bitcoin uses a decentralized network of miners and a distributed consensus algorithm to
agree on blockchains to process transactions, and designs certain incentive strategy to …

Optimal Revenue Analysis of the Stubborn Mining Based on Markov Decision Process

Y Zhang, M Liu, J Guo, Z Wang, Y Wang… - … Conference on Machine …, 2022 - Springer
As one of the most popular cryptocurrencies, Bitcoin is essentially a decentralized ledger.
Each node maintains the security of the blockchain through the workload proof mechanism …

Game-theoretical analysis of mining strategy for bitcoin-ng blockchain protocol

T Wang, X Bai, H Wang, SC Liew… - IEEE Systems …, 2020 - ieeexplore.ieee.org
Bitcoin-NG (next generation), a scalable blockchain protocol, divides each block into a key
block and many microblocks to effectively improve the transaction processing capacity …

On the strategy and behavior of bitcoin mining with n-attackers

H Liu, N Ruan, R Du, W Jia - Proceedings of the 2018 on Asia …, 2018 - dl.acm.org
Selfish mining is a well-known mining attack strategy discovered by Eyal and Sirer in 2014.
After that, the attackers' strategy has been further discussed by many other works, which …

Insightful mining equilibria

M Zhang, Y Li, J Li, C Kong, X Deng - International Conference on Web …, 2022 - Springer
The selfish mining attack, arguably the most famous game-theoretic attack in blockchain,
indicates that the Bitcoin protocol is not incentive-compatible. Most subsequent works mainly …

Bitcoin mining with transaction fees: A game on the block size

S Jiang, J Wu - 2019 IEEE International Conference on …, 2019 - ieeexplore.ieee.org
In a Bitcoin market, miners participate in blockchain mining with an aim to make profits. Until
reaching consensus, PoW-valid blocks (including validated transactions and proper PoW …

Blockchain mining with multiple selfish miners

Q Bai, Y Xu, N Liu, X Wang - IEEE Transactions on Information …, 2023 - ieeexplore.ieee.org
This paper studies a fundamental problem regarding the security of blockchain PoW
consensus on how the existence of multiple misbehaving miners influences the profitability …

Cooperative mining in blockchain networks with zero-determinant strategies

C Tang, C Li, X Yu, Z Zheng… - IEEE transactions on …, 2019 - ieeexplore.ieee.org
In proof-of-work (PoW)-based blockchain networks, the miners contribute their distributed
computation in solving a crypto-puzzle competition to win the reward. To secure stable …

From chaining blocks to breaking even: A study on the profitability of bitcoin mining from 2012 to 2016

J Derks, J Gordijn, A Siegmann - Electronic Markets, 2018 - Springer
Bitcoin is a widely-spread payment instrument, but it is doubtful whether the proof-of-work
(PoW) nature of the system is financially sustainable on the long term. To assess …

A discrete-event simulation model for the Bitcoin blockchain network with strategic miners and mining pool managers

K Li, Y Liu, H Wan, Y Huang - Computers & Operations Research, 2021 - Elsevier
As the first and most famous cryptocurrency-based blockchain technology, Bitcoin has
attracted tremendous attention from both academic and industrial communities in the past …