Feb. 6, 2024, 5:11 a.m. | Maryam Bahrani S. Matthew Weinberg

cs.CR updates on arXiv.org arxiv.org

Seminal work of Eyal and Sirer (2014) establishes that a strategic Bitcoin miner may strictly profit by deviating from the intended Bitcoin protocol, using a strategy now termed *selfish mining*. More specifically, any miner with $>1/3$ of the total hashrate can earn bitcoin at a faster rate by selfish mining than by following the intended protocol (depending on network conditions, a lower fraction of hashrate may also suffice).
One convincing critique of selfish mining in practice is that the presence …

bitcoin can cs.cr cs.dc cs.ds cs.gt earn may miner mining profit protocol rate strategic strategy undetectable work

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