License: Creative Commons Attribution 3.0 Unported license (CC-BY 3.0)
When quoting this document, please refer to the following
DOI: 10.4230/OASIcs.Tokenomics.2019.11
URN: urn:nbn:de:0030-drops-119755
URL: https://drops.dagstuhl.de/opus/volltexte/2020/11975/
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Grunspan, Cyril ; PĂ©rez-Marco, Ricardo

Selfish Mining and Dyck Words in Bitcoin and Ethereum Networks

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OASIcs-Tokenomics-2019-11.pdf (0.5 MB)


Abstract

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.

BibTeX - Entry

@InProceedings{grunspan_et_al:OASIcs:2020:11975,
  author =	{Cyril Grunspan and Ricardo P{\'e}rez-Marco},
  title =	{{Selfish Mining and Dyck Words in Bitcoin and Ethereum Networks}},
  booktitle =	{International Conference on Blockchain Economics, Security and Protocols (Tokenomics 2019)},
  pages =	{11:1--11:10},
  series =	{OpenAccess Series in Informatics (OASIcs)},
  ISBN =	{978-3-95977-108-5},
  ISSN =	{2190-6807},
  year =	{2020},
  volume =	{71},
  editor =	{Vincent Danos and Maurice Herlihy and Maria Potop-Butucaru and Julien Prat and Sara Tucci-Piergiovanni},
  publisher =	{Schloss Dagstuhl--Leibniz-Zentrum fuer Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops.dagstuhl.de/opus/volltexte/2020/11975},
  URN =		{urn:nbn:de:0030-drops-119755},
  doi =		{10.4230/OASIcs.Tokenomics.2019.11},
  annote =	{Keywords: Bitcoin, Blockchain, Ethereum, Proof-of-Work, Selfish Mining, Stubborn Mining, Apparent Hashrate, Revenue Ratio, Catalan Distributions, Dyck Words, Random Walk}
}

Keywords: Bitcoin, Blockchain, Ethereum, Proof-of-Work, Selfish Mining, Stubborn Mining, Apparent Hashrate, Revenue Ratio, Catalan Distributions, Dyck Words, Random Walk
Collection: International Conference on Blockchain Economics, Security and Protocols (Tokenomics 2019)
Issue Date: 2020
Date of publication: 17.03.2020


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