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Selfish mining attack

Selfish mining attack

A selfish mining attack, or block withholding attack, is when a cryptocurrency miner decides to keep a valid block they have successfully mined secret instead of broadcasting it to the network.

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Will Suter
Will Suter approved a suggestion from Golden's AI on 1 Aug, 2019
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The minimum profitable threshold, using the Markov chainMarkov chain model, has been demonstrated to be symmetric around 21.48% if two miners in a pool are engaging in profitable selfish mining. Research using Markov chain models demonstrates that two selfish miners are profitable after 51 rounds of difficulty adjustments (approximately 714 days for Bitcoin) if both their hashrates are 22% (which is slightly higher than the profitability threshold of the mining pool which is 21.48%), and are profitable after 5 rounds (approximately 70 days for Bitcoin) of difficulty adjustment if their hashrates are 33%. Profitable selfish mining becomes more difficult to successfully execute as the number of selfish miners in a mining pool increases, and/or the miners choose to increase their selfish mining hashrates because their is a negative correlation between the profitable time of selfish miners and their mining power.

Will Suter
Will Suter approved a suggestion from Golden's AI on 1 Aug, 2019
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The minimum profitable threshold, using the Markov chain model, has been demonstrated to be symmetric around 21.48% if two miners in a pool are engaging in profitable selfish mining. Research using Markov chain models demonstrates that two selfish miners are profitable after 51 rounds of difficulty adjustments (approximately 714 days for BitcoinBitcoin) if both their hashrates are 22% (which is slightly higher than the profitability threshold of the mining pool which is 21.48%), and are profitable after 5 rounds (approximately 70 days for Bitcoin) of difficulty adjustment if their hashrates are 33%. Profitable selfish mining becomes more difficult to successfully execute as the number of selfish miners in a mining pool increases, and/or the miners choose to increase their selfish mining hashrates because their is a negative correlation between the profitable time of selfish miners and their mining power.

Dawson Sewell
Dawson Sewell edited on 1 Aug, 2019
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Profitable selfish mining
Dawson Sewell
Dawson Sewell edited on 1 Aug, 2019
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A selfish miner will maintain their own private chain, and publicly reveal it opportunistically in order to obtain greater rewards that would normally be granted based on their actual contributions (Hashrate) to the mining pool. It is possible for multiple participants in a mining pool to engage in selfish mining behavior during the mining process.

The minimum profitable threshold, using the Markov chain model, has been demonstrated to be symmetric around 21.48% if two miners in a pool are engaging in profitable selfish mining. Research using Markov chain models demonstrates that two selfish miners are profitable after 51 rounds of difficulty adjustments (approximately 714 days for Bitcoin) if both their hashrates are 22% (which is slightly higher than the profitability threshold of the mining pool which is 21.48%), and are profitable after 5 rounds (approximately 70 days for Bitcoin) of difficulty adjustment if their hashrates are 33%. Profitable selfish mining becomes more difficult to successfully execute as the number of selfish miners in a mining pool increases, and/or the miners choose to increase their selfish mining hashrates because their is a negative correlation between the profitable time of selfish miners and their mining power.

Dawson Sewell
Dawson Sewell edited on 1 Aug, 2019
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A selfish mining attack, also known as a block withholding attack, describes a malicious attempt to discredit blockchain network integrity. TheySelfish mining attacks occur when an individual in a mining pool attempts to withhold a successfully validated block from being broadcast to the rest of the mining pool network. After the selfish miner withholds their successfully mined block from the group, they continue to mine the next block, resulting in the selfish miner having demonstrated more proof-of-work compared to other miners in the mining pool. This allows the selfish miner to claim the block rewards (and financial rewards) while the rest of the network adopts their block solutions.

A selfish miner will maintain their own private chain, and publicly reveal it opportunistically in order to obtain greater rewards that would normally be granted based on their actual contributions (Hashrate) to the mining pool. It is possible for multiple participants in a mining pool to engage in selfish mining behavior during the mining process

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A Deep Dive into Blockchain Selfish Mining

Qianlan Bai, Xinyan Zhou, Xing Wang, Yuedong Xu, Xin Wang, Qingsheng Kong

Journal

2018

Dawson Sewell
Dawson Sewell edited on 1 Aug, 2019
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Two possible solutions have been proposed to prevent selfish mining attacks from occurring on blockchain networks have been proposed. The first is to randomly assign miners to branches of the blockchain when a fork occurs, and the second is to set threshold limits for mining pools on the network that would prevent selfish miners from gaining a signifiant advantages over othersother inminers operating on the network.

Dawson Sewell
Dawson Sewell edited on 1 Aug, 2019
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Selfish mining attack

A selfish mining attack, or block withholding attack, is when a cryptocurrency miner decides to keep a valid block they have successfully mined secret instead of broadcasting it to the network.

Article

A selfish mining attack, oralso known as a block withholding attack, is a term used to describedescribes a malicious attempt to discredit theblockchain network integrity of a blockchain network. Selfish mining attacksThey occur when an individual in a mining pool attempts to withhold a successfully validated block from being broadcast to the rest of the mining pool network. After the selfish miner withholds their successfully mined block from the group, they continue to mine the next block, resulting in the selfish miner having demonstrated more proof-of-work compared to other miners in the mining pool. This results in the selfish miner having demonstrated more proof-of-work compared to other miners in the mining pool, and allows themthe selfish miner to claim the block rewards while the rest of the network adopts their block solutions.

Solutions

Two possible solutions to prevent selfish mining attacks from occurring on blockchain networks have been proposed. The first is to randomly assign miners to branches of the blockchain when a fork occurs, and the second is to set threshold limits for mining pools on the network that would prevent selfish miners from gaining signifiant advantages over others in the network.

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Title
Date
Link

Attack Vectors: Selfish Mining Attack. Part 1 of 3 | INSIDE DFINITY

September 11, 2018

Bitcoin is Broken: Selfish Mining - Part 1

November 11, 2013

Game Theory & Network Attacks: How to Destroy Bitcoin

November 1, 2016

Selfish Mining Miners' Dilemma Ittay Eyal Technion Cyber and Computer Security Summer School

November 19, 2017

What is Bitcoin "Double Spending" and "Selfish Mining"? These are the best explanations I've seen.

December 9, 2017

Edits on 23 Jul, 2019
Thomas Shaddox
Thomas Shaddox edited on 23 Jul, 2019
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Edits on 21 Dec, 2018
Jude Gomila
Jude Gomila approved a suggestion from Golden's AI on 21 Dec, 2018
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A selfish mining attack, or block withholding attackblock withholding attack, is a term used to describe a malicious attempt to discredit the integrity of a blockchain network. Selfish mining attacks occur when an individual in a mining pool attempts to withhold a successfully validated block from being broadcast to the rest of the mining pool network. After the selfish miner withholds their successfully mined block from the group they continue to mine the next block. This results in the selfish miner having demonstrated more proof-of-work compared to other miners in the mining pool, and allows them to claim the block rewards while the rest of the network adopts their block solutions.

Edits on 19 Dec, 2018
Dawson Sewell
Dawson Sewell edited on 19 Dec, 2018
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A selfish mining attack, or block withholding attack, is a term used to describe a malicious attempt to discredit the integrity of a blockchain network. Selfish mining attacks occur when an individual in a mining pool attempts to withhold a successfully validated block from being broadcast to the rest of the mining pool network. After the selfish miner withholds their successfully mined block from the group they continue to mine the next block. This results in the selfish miner having demonstrated more proof-of-work compared to other miners in the mining pool, and allows them to claim the block rewards while the rest of the network adopts their block solutions.

Edits on 7 Aug, 2018
Golden AI"Linkify text links in standard tables"
Golden AI edited on 7 Aug, 2018
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Ittay Eyal and Emin Gun Sirer

Majority is not Enough: Bitcoin Mining is Vulnerable

https://www.cs.cornell.edu/~ie53/publications/btcProcFC.pdfhttps://www.cs.cornell.edu/~ie53/publications/btcProcFC.pdf

Academic paper

Philippe Camacho

Analyzing Bitcoin Security

https://www.slideshare.net/philippecamacho/analyzing-bitcoin-securityhttps://www.slideshare.net/philippecamacho/analyzing-bitcoin-security

Edits on 5 Jun, 2018
Tianchang He
Tianchang He edited on 5 Jun, 2018
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Author
Title
Link
Type

Ittay Eyal and Emin Gun Sirer

Majority is not Enough: Bitcoin Mining is Vulnerable

https://www.cs.cornell.edu/~ie53/publications/btcProcFC.pdf

Academic Paperpaper

Edits on 1 Jun, 2018
Golden AI"Merging standard tables"
Golden AI edited on 1 Jun, 2018
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Author
Title
Link

Ittay Eyal and Emin Gun Sirer

Majority is not Enough: Bitcoin Mining is Vulnerable

https://www.cs.cornell.edu/~ie53/publications/btcProcFC.pdf

Table

Author
Title
Link
Type

Ittay Eyal and Emin Gun Sirer

Majority is not Enough: Bitcoin Mining is Vulnerable

https://www.cs.cornell.edu/~ie53/publications/btcProcFC.pdf

Academic Paper

Edits on 5 Dec, 2017
Alex Dean
Alex Dean edited on 5 Dec, 2017
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Selfish Mining attack Selfish mining attack

A selfish mining attack, or block withholding attack, is when a cryptocurrency miner decides to keep a valid block they have successfully mined secret instead of broadcasting it to the network.

Alex Dean"article creation"
Alex Dean edited on 5 Dec, 2017
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Block withholding attack Selfish Mining attack

A selfish mining attack or block withholding attack is when a cryptocurrency miner decides to keep a valid block they have successfully mined secret instead of broadcasting it to the network.

Article

Table

Author
Title
Link

Ittay Eyal and Emin Gun Sirer

Majority is not Enough: Bitcoin Mining is Vulnerable

https://www.cs.cornell.edu/~ie53/publications/btcProcFC.pdf

Table

Author
Title
Link

Philippe Camacho

Analyzing Bitcoin Security

https://www.slideshare.net/philippecamacho/analyzing-bitcoin-security

Categories
Related Topics
Alex Dean"Initial topic creation"
Alex Dean created this topic on 5 Dec, 2017
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 Block withholding attack

A selfish mining attack, or block withholding attack, is when a cryptocurrency miner decides to keep a valid block they have successfully mined secret instead of broadcasting it to the network.

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