Time-Averaged Analysis of Selfish Mining in Bitcoin

ePrint Report: Time-Averaged Analysis of Selfish Mining in Bitcoin

Roozbeh Sarenche, Ren Zhang, Svetla Nikova, Bart Preneel

A Bitcoin miner who owns a sufficient amount of mining power can perform selfish mining to increase his relative revenue. Studies have demonstrated that the time-averaged profit of a selfish miner starts to rise once the mining difficulty level gets adjusted in favor of the attacker. Selfish mining profitability lies in the fact that orphan blocks are not incorporated into the current version …

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