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Majority can earn more: A new coin mining strategy for miner with superior computing power in blockchain

  • Procedia Computer Science
  • Elsevier BV
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Abstract

Blockchain is the technology basis of future financial technology, which combines the cryptography algorithms and P2P network. In previous papers, scholars raised attacks like double spending attack which spends the same money twice and sybil attack which isolates nodes and break the P2P network. All these attacks earn illegal income in a destructive way. Our contribution is that we present the concept of mining strategy then present a mining strategy to evaluate how the minor with major computing power (but less than 51%) earns more without doing harm to the financial technology system in a specific model.

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Publication details

DOI
10.1016/j.procs.2020.06.072
OpenAlex
W3045544407
Document type
conference-paper
Language
EN
Source
Procedia Computer Science
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