Rational Mining on Bitcoin.

Date of Submission

December 2017

Date of Award

Winter 12-12-2018

Institute Name (Publisher)

Indian Statistical Institute

Document Type

Master's Dissertation

Degree Name

Master of Technology

Subject Name

Computer Science


Cryptology and Security Research Unit (CSRU-Kolkata)


Ruj, Sushmita (CSRU-Kolkata; ISI)

Abstract (Summary of the Work)

Bitcoin is a decentralized cryptocurrency. It is secure as long as majority of the computational resources are with honest miners who follow the Bitcoin protocol. There has been several attacks on Bitcoin mining process in recent years. Eyal showed a strategy called selfish mining by which miners can get more reward than their fair share. If 33% of the miners are follow the selfish mining strategy, then the Bitcoin system will no longer remain decentralized. We propose a new mining strategy called the Rational Mining, following which only 28% of miners are enough to make Bitcoin decentralized.We analyze the different strategies and show how a miner can choose a strategy to maximize its gain under different parameter selection.


ProQuest Collection ID: http://gateway.proquest.com/openurl?url_ver=Z39.88-2004&rft_val_fmt=info:ofi/fmt:kev:mtx:dissertation&res_dat=xri:pqm&rft_dat=xri:pqdiss:28843397

Control Number


Creative Commons License

Creative Commons Attribution 4.0 International License
This work is licensed under a Creative Commons Attribution 4.0 International License.



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