Profit lag and alternate network mining - Archive ouverte HAL Access content directly
Conference Papers Year : 2023

Profit lag and alternate network mining

Abstract

For a mining strategy we define the notion of "profit lag" as the minimum time it takes to be profitable after that moment. We compute closed forms for the profit lag and the revenue ratio for the strategies "selfish mining" and "in-termittent selfish mining". This confirms some earlier numerical simulations and clarifies misunderstandings on profitability in the literature. We also study mining pairs of PoW cryptocurrencies, often coming from a fork, with the same mining algorithm. This represents a vector of attack that can be exploited using the "al-ternate network mining" strategy that we define. We compute closed forms for the profit lag and the revenue ratiofor this strategy that is more profitable than selfish mining and intermittent selfish mining. It is also harder to counter since it does not rely on a flaw in the difficulty adjustment formula that is the reason for profitability of the other strategies.
Fichier principal
Vignette du fichier
Desertion13.pdf (410.25 Ko) Télécharger le fichier
DiffRevenue_IntermitentSelfishMining.jpg (18.39 Ko) Télécharger le fichier
DiffRevenue_SelfishMining.jpg (13.02 Ko) Télécharger le fichier
DiffRevenue_SwitchingMining.jpg (12.11 Ko) Télécharger le fichier
ThresholdsVB-SM2.jpg (25.54 Ko) Télécharger le fichier
natoshi.jpg (13.51 Ko) Télécharger le fichier
Origin : Files produced by the author(s)
Origin : Files produced by the author(s)
Loading...

Dates and versions

hal-02959121 , version 1 (06-10-2020)

Identifiers

  • HAL Id : hal-02959121 , version 1

Cite

Cyril Grunspan, Ricardo Pérez-Marco. Profit lag and alternate network mining. MARBLE 2023, Jul 2023, London, United Kingdom. ⟨hal-02959121⟩
35 View
95 Download

Share

Gmail Facebook X LinkedIn More