The Miner's Dilemma

Published: May 1, 2015
Abstract
An open distributed system can be secured by requiring participants to present proof of work and rewarding them for participation. The Bit coin digital currency introduced this mechanism, which is adopted by almost all contemporary digital currencies and related services. A natural process leads participants of such systems to form pools, where members aggregate their power and share the rewards. Experience with Bit coin shows that the largest...
Paper Details
Title
The Miner's Dilemma
Published Date
May 1, 2015
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