A New Attack Scheme on the Bitcoin Reward System

Jaewoo SO  

Publication
IEICE TRANSACTIONS on Fundamentals of Electronics, Communications and Computer Sciences   Vol.E102-A   No.1   pp.300-302
Publication Date: 2019/01/01
Online ISSN: 1745-1337
DOI: 10.1587/transfun.E102.A.300
Type of Manuscript: LETTER
Category: Cryptography and Information Security
Keyword: 
block withholding,  selfish mining,  bitcoin,  blockchain,  bitcoin reward,  

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Summary: 
The reward of the Bitcoin system is designed to be proportional to miner's computational power. However, rogue miners can increase their rewards by using the block withholding attacks. For raising awareness on the Bitcoin reward system, a new attack scheme is proposed, where the attackers infiltrate into an open pool and launch the selfish mining as well as the block withholding attack. The simulation results demonstrate that the proposed attack outperforms the conventional block withholding attacks.