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Undetectable Selfish Mining. (arXiv:2309.06847v1 [cs.GT])
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 earn may miner mining profit protocol rate strategic strategy undetectable work