A Predicament in Securing Blockchain Consensus via Controlling Cryptopuzzle Difficulty

Venkata Sriram Siddhardh Nadendla,Lav R. Varshney

2021 IEEE International Conference on Blockchain and Cryptocurrency (ICBC)（2021）

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摘要

Blockchain systems often employ proof-of-work consensus protocols to validate and add transactions into hashchains. These protocols involve competition among miners in solving cryptopuzzles (e.g. SHA-256 hash computation in Bitcoin) in exchange for a monetary reward. Here, we model mining as an all-pay auction, where miners’ computational efforts are interpreted as bids, and the allocation functio...

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关键词

Conferences,Computational modeling,Bitcoin,Control systems,Consensus protocol,Resource management

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