Zcash lauches at the end of October. The highly anticipated cryptocurrency brings truly anonymous transactions using zero-knowledge proofs.
An analysis of the economic incertitudes facing Bitcoin miners.
Development of a complete System on Chip Bitcoin Miner using Vivado HLS and the Zedboard SoC development board. Including basic Bitcoin miner design requirements and techniques for improving hash rate. Developing the SHA-256 process and mining core in Vivado HSL using AutoESL and the effects of Vivado HLS’s built in hardware optimizations. Comparison of the […]
A proposal for an alternative proof-of-work system via an adaptation of an existing solution to the Byzantine Generals Problem.
When processing transactions in a block, a miner increases his reward but also decreases his probability to earn any reward because the time needed for his block to reach consensus depends on its size. We show that this leads to a game situation between miners. We analytically solve this game for two miners. Then, we […]
An examination of Bitcoin as a consensus game, in which participants expend resources on solving computational puzzles in order to collect rewards, with a demonstration of a Nash equilibrium in which all players behave consistently with Bitcoin‰Ûªs reference implementation.
An implicit goal of Bitcoin’s reward structure is to diffuse network influence over a diverse, decentralized population of individual participants. Indeed, Bitcoin’s security claims rely on no single entity wielding a sufficiently large portion of the networks overall computational power. Unfortunately, rather than participating independently, most Bitcoin min- ers join coalitions called mining pools in […]
Bitcoin mining is in an essence a lottery. All the bitcoin miners independently try to find a winning ticket (block) defined as a hash lower than the current threshold. The bitcoin network adjusts this target based on the global hashing speed… Currently, and even more in the future, given the bitcoin network growth, this bitcoin […]