Selfish Mining in Ethereum

Understand

As the second largest cryptocurrency by market capitalization and today's biggest decentralized platform that runs smart contracts, Ethereum has received much attention from both industry and academia.

• Nevertheless, there exist very few studies about the security of its mining strategies, especially from the selfish mining perspective.
• In this paper, we aim to fill this research gap by analyzing selfish mining in Ethereum and understanding its potential threat.
• First, we introduce a 2-dimensional Markov process to model the behavior of a selfish mining strategy inspired by a Bitcoin mining strategy proposed by Eyal and Sirer.