Abstract
We present recent developments in the understanding of the profitability block withholding strategies in Bitcoin mining and other Proof-of-Work based blockchains. Block withholding strategies (like selfish, stubborn, trailing or catch-up mining) are rogue mining strategies that violate the rules of the Bitcoin protocol. The authors found recently the exact model based on iterative games to evaluate the profitability per unit time. With a novel application of martingale techniques and Doob's Stopping Time Theorem we compute their profitability in close-form. We can then compare in parameter space these strategies and honest mining, and decide which one is more profitable.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
