Mined Block Withholding and Imposed Fork by Using Mining Pool Alliance Strategic—A Case Study in Bitcoin System
TL;DR
This study explores how mining pools in Bitcoin's PoW system use alliances and block withholding to gain competitive advantages, potentially leading to imposed forks for higher rewards.
Mined Block Withholding and Imposed Fork by Using Mining Pool Alliance Strategic—A Case Study in Bitcoin System
Yean-Fu Wen; Ming-Fang Chen
https://doi.org/10.1109/ACCESS.2024.3522962
Volume 13
In the proof-of-work (PoW) blockchain consensus mechanism, miners perform numerous hash calculations to obtain a value below the difficulty threshold to generate a new block and obtain rewards. As the difficulty of mining increases, pools may develop competition strategies to reduce time and increase the rewards for mining blocks. This study investigates these strategies by examining whether minin...