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Author:

Ma, Jing-Yu (Ma, Jing-Yu.) | Li, Quan-Lin (Li, Quan-Lin.) (Scholars:李泉林)

Indexed by:

EI Scopus SCIE

Abstract:

The security and fairness of blockchain are always threatened by selfish mining attacks. To study such selfish mining attacks, some necessary and useful methods need to be developed sufficiently. In this paper, we provide an interesting method for analyzing dynamic decision of blockchain selfish mining by applying the sensitivity-based optimization. Our goal is to find the optimal dynamic blockchain-pegged mining policy of the dishonest mining pool. To this end, we consider a blockchain system with two mining pools: the honest and the dishonest mining pools, where the honest mining pool follows a two-block leading competitive criterion, while the dishonest mining pool follows a modification of two-block leading competitive criterion. To find the optimal blockchain-pegged mining policy, we develop the sensitivity-based optimization to study dynamic decision of blockchain system through setting up a policy-based Poisson equation, and provide an expression for the unique solution of performance potentials. Based on this, we can characterize monotonicity and optimality of the long-run average profit with respect to the blockchain-pegged mining reward. Also, we prove the structure of the optimal blockchain-pegged mining policy. The methodology and results derived in this paper significantly reduce the large search space of finding the optimal policy, thus they can shed light on the optimal dynamic decision research on the selfish mining attacks of blockchain systems.

Keyword:

Blockchain Selfish mining Markov decision process Sensitivity-based optimization Blockchain-pegged mining policy

Author Community:

  • [ 1 ] [Ma, Jing-Yu]Xuzhou Univ Technol, Bussiness Sch, Xuzhou 221018, Jiangsu, Peoples R China
  • [ 2 ] [Li, Quan-Lin]Beijing Univ Technol, Sch Econ & Management, Beijing 100124, Peoples R China

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Source :

JOURNAL OF COMBINATORIAL OPTIMIZATION

ISSN: 1382-6905

Year: 2022

Issue: 5

Volume: 44

Page: 3663-3700

1 . 0

JCR@2022

1 . 0 0 0

JCR@2022

ESI Discipline: MATHEMATICS;

ESI HC Threshold:20

JCR Journal Grade:3

CAS Journal Grade:4

Cited Count:

WoS CC Cited Count: 0

SCOPUS Cited Count: 5

ESI Highly Cited Papers on the List: 0 Unfold All

WanFang Cited Count:

Chinese Cited Count:

30 Days PV: 8

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