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Incentive Mechanism for Bitcoin Mining Pool Based on Stackelberg Game

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Science of Cyber Security (SciSec 2019)

Part of the book series: Lecture Notes in Computer Science ((LNSC,volume 11933))

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Abstract

Bitcoin is the most popular cryptocurrency all over the world. Existing mining pool systems do not consider the cost of miners. In this paper, we propose a novel pool mining mechanism based on Stackelberg game to incentivize the rational miners in Bitcoin mining pool. Through both theoretical analysis and simulations, we demonstrate that the proposed mechanism achieve computational efficiency, individual rationality, and profitability. Moreover, we show that the Stackelberg game has a unique Equilibrium.

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Acknowledgements

This work has been supported in part by the NSFC (No. 61872193, 61872191, 61872197).

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Authors and Affiliations

  1. Jiangsu Key Laboratory of Big Data Security and Intelligent Processing, Nanjing University of Posts and Telecommunications, Nanjing, Jiangsu, 210023, China

    Gang Xue, Jia Xu, Hanwen Wu, Weifeng Lu & Lijie Xu

Authors
  1. Gang Xue
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  2. Jia Xu
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  3. Hanwen Wu
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  4. Weifeng Lu
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  5. Lijie Xu
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Corresponding author

Correspondence to Jia Xu .

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Editors and Affiliations

  1. Institute of Information Engineering and School of Cybersecurity, University of Chinese Academy of Sciences, Beijing, China

    Feng Liu

  2. Nanjing University of Posts and Telecommunications, Nanning, China

    Jia Xu

  3. Department of Computer Science, The University of Texas at San Antonio, San Antonio, TX, USA

    Shouhuai Xu

  4. Google and Columbia University, New York, NY, USA

    Moti Yung

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Xue, G., Xu, J., Wu, H., Lu, W., Xu, L. (2019). Incentive Mechanism for Bitcoin Mining Pool Based on Stackelberg Game. In: Liu, F., Xu, J., Xu, S., Yung, M. (eds) Science of Cyber Security. SciSec 2019. Lecture Notes in Computer Science(), vol 11933. Springer, Cham. https://doi.org/10.1007/978-3-030-34637-9_14

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  • DOI: https://doi.org/10.1007/978-3-030-34637-9_14

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-030-34636-2

  • Online ISBN: 978-3-030-34637-9

  • eBook Packages: Computer ScienceComputer Science (R0)

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