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Majority is not Enough: Bitcoin Mining is Vulnerable∗ [pdf]
- jraedisch 8y ago"When the selfish miner pool finds a block, it is in an advantageous position with a single block lead on the public branch on which the honest miners operate. Instead of naively publishing this private block and notifying the rest of the miners of the newly discovered block, selfish miners keep this block private to the pool. There are two outcomes possible at this point: either the honest miners discover a new block on the public branch, nullifying the pool’s lead, or else the pool mines a second block and extends its lead on the honest miners."
- jraedisch 8y agoIt is from 2013 https://arxiv.org/abs/1311.0243 https://arxiv.org/abs/1311.0243