Author: Ittay 2013-11-05 16:56:53
Published on: 2013-11-05T16:56:53+00:00
Ittay Eyal and Emin Gun Sirer have proposed a Bitcoin Improvement Proposal to raise the threshold on Selfish Mining attacks. Currently, when a miner is notified of a new chain of the same difficulty as the one it is mining on, it ignores it. To address this, the proposal suggests changing the propagation and mining algorithm for chains of the same difficulty. This would involve propagating all chains and randomly choosing which to mine on among all chains of the same difficulty. The proposal aims to thwart selfish mining attacks launched by less than 25% of the mining power and achieves complete backward compatibility. Each miner that adopts the change will raise the threshold a little bit until it reaches 25% with universal adoption. The proposal addresses concerns around potential harm to miners when all are honest, no new vulnerabilities being introduced, and complete backward compatibility.
Updated on: 2023-06-07T19:21:34.478998+00:00