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On Profitability of Trailing Mining

11/22/2018

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by Cyril Grunspan, et al.

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We compute the revenue ratio of the Trail Stubborn mining strategy in the Bitcoin network and compare its profitability to other block-withholding strategies. We use for this martingale techniques and a classical analysis of the hiker problem. In this strategy the attacker could find himself mining in a shorter fork, but we prove that for some parameter values it is still profitable to not give up. This confirms previous numerical studies.

Cyril Grunspan
13 publications
Ricardo Pérez-Marco
13 publications

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