论文标题
关于正在考虑的自私区链采矿的盈利能力
On the profitability of selfish blockchain mining under consideration of ruin
论文作者
论文摘要
配备有工作证明共识协议的区块链上的挖掘区块是资源消费的众所周知。矿工承担运营成本，主要是电力消耗和IT装备，并在发现块时获得资本增益的补偿。本文旨在量化采矿的盈利能力时，当还考虑了可能的废墟事件。这是通过制定可进行的随机模型并使用来自应用的概率和分析的工具来完成的，包括某种类型的高级功能微分方程的明确解决方案。未来时间点的预期利润是针对矿工遵循协议以及他/她扣留块的情况的情况的。获得的明确表达式可以分析相对于不同模型成分的灵敏度，并确定自私采矿是战略优势的条件。
Mining blocks on a blockchain equipped with a proof of work consensus protocol is well-known to be resource-consuming. A miner bears the operational cost, mainly electricity consumption and IT gear, of mining, and is compensated by a capital gain when a block is discovered. This paper aims at quantifying the profitability of mining when the possible event of ruin is also considered. This is done by formulating a tractable stochastic model and using tools from applied probability and analysis, including the explicit solution of a certain type of advanced functional differential equation. The expected profit at a future time point is determined for the situation when the miner follows the protocol as well as when he/she withholds blocks. The obtained explicit expressions allow to analyze the sensitivity with respect to the different model ingredients and to identify conditions under which selfish mining is a strategic advantage.
