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Statistical Confidence in Mining Power Estimates for PoW Blockchains
March 21, 2024, 4:10 a.m. | Mary Milad, Christina Ovezik, Dimitris Karakostas, Daniel W. Woods
cs.CR updates on arXiv.org arxiv.org
Abstract: The security of blockchain systems depends on the distribution of mining power across participants. If sufficient mining power is controlled by one entity, they can force their own version of events. This may allow them to double spend coins, for example. For Proof of Work (PoW) blockchains, however, the distribution of mining power cannot be read directly from the blockchain and must instead be inferred from the number of blocks mined in a specific sample …
arxiv blockchain blockchains can cs.cr distribution events may mining own pow power proof proof of work security systems version work
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