Rethinking selfish mining under pooled mining

Suhyeon Lee; Seungjoo Kim

doi:10.1016/j.icte.2022.03.003

Rethinking selfish mining under pooled mining

Suhyeon Lee, Seungjoo Kim

School of Cybersecurity

Research output: Contribution to journal › Article › peer-review

Abstract

Bitcoin's core security requires honest participants to control at least 51% of the total hash power. However, it has been shown that several techniques can exploit the fair mining in the Bitcoin network. This study focuses on selfish mining, which is based on the idea, ”keeping blocks secret.” Herein, we analyze selfish mining regarding competition between mining pools. We emphasize that mining-related information is shared between mining pools and participants. Based on shared information about selfish mining, we have developed an effective and practical counter strategy.

Original language	English
Journal	ICT Express
DOIs	https://doi.org/10.1016/j.icte.2022.03.003
Publication status	Accepted/In press - 2022

Keywords

Blockchain
Mining pool
Proof-of-Work
Security analysis
Selfish mining

ASJC Scopus subject areas

Software
Information Systems
Hardware and Architecture
Computer Networks and Communications
Artificial Intelligence

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10.1016/j.icte.2022.03.003

Cite this

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title = "Rethinking selfish mining under pooled mining",

abstract = "Bitcoin's core security requires honest participants to control at least 51% of the total hash power. However, it has been shown that several techniques can exploit the fair mining in the Bitcoin network. This study focuses on selfish mining, which is based on the idea, ”keeping blocks secret.” Herein, we analyze selfish mining regarding competition between mining pools. We emphasize that mining-related information is shared between mining pools and participants. Based on shared information about selfish mining, we have developed an effective and practical counter strategy.",

keywords = "Blockchain, Mining pool, Proof-of-Work, Security analysis, Selfish mining",

author = "Suhyeon Lee and Seungjoo Kim",

note = "Funding Information: This work was supported by Institute of Information & communications Technology Planning & Evaluation (IITP) grant funded by the Korea government(MSIT) (No. 2018-0-00532 , Development of High-Assurance ( EAL6) Secure Microkernel) Publisher Copyright: {\textcopyright} 2022 The Author(s)",

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doi = "10.1016/j.icte.2022.03.003",

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AU - Kim, Seungjoo

N1 - Funding Information: This work was supported by Institute of Information & communications Technology Planning & Evaluation (IITP) grant funded by the Korea government(MSIT) (No. 2018-0-00532 , Development of High-Assurance ( EAL6) Secure Microkernel) Publisher Copyright: © 2022 The Author(s)

PY - 2022

Y1 - 2022

N2 - Bitcoin's core security requires honest participants to control at least 51% of the total hash power. However, it has been shown that several techniques can exploit the fair mining in the Bitcoin network. This study focuses on selfish mining, which is based on the idea, ”keeping blocks secret.” Herein, we analyze selfish mining regarding competition between mining pools. We emphasize that mining-related information is shared between mining pools and participants. Based on shared information about selfish mining, we have developed an effective and practical counter strategy.

AB - Bitcoin's core security requires honest participants to control at least 51% of the total hash power. However, it has been shown that several techniques can exploit the fair mining in the Bitcoin network. This study focuses on selfish mining, which is based on the idea, ”keeping blocks secret.” Herein, we analyze selfish mining regarding competition between mining pools. We emphasize that mining-related information is shared between mining pools and participants. Based on shared information about selfish mining, we have developed an effective and practical counter strategy.

KW - Blockchain

KW - Mining pool

KW - Proof-of-Work

KW - Security analysis

KW - Selfish mining

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DO - 10.1016/j.icte.2022.03.003

M3 - Article

AN - SCOPUS:85127359582

SN - 2405-9595

JO - ICT Express

JF - ICT Express

ER -

Rethinking selfish mining under pooled mining

Abstract

Keywords

ASJC Scopus subject areas

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