PoW Security-Latency under Random Delays and the Effect of Transaction Fees

arXiv:2405.04526v1 Announce Type: new
Abstract: Safety guarantees and security-latency problem of Nakamoto consensus have been extensively studied in the last decade with a bounded delay model. Recent studies have shown that PoW protocol is secure under random delay models as well. In this paper, we analyze the security-latency problem, i.e., how secure a block is, after it becomes k-deep in the blockchain, under general random delay distributions. We provide tight and explicit bounds which only require determining the distribution of …

arxiv cs.cr cs.dc cs.dm cs.it effect fees latency math.it pow problem protocol random safety security studies transaction under