A discrete-event simulation model for the Bitcoin blockchain network with strategic miners and mining pool managers

DOI10.1016/J.COR.2021.105365MaRDI QIDQ2669486zbMATH OpenOpenAlexFDO

Authors Kejun Li, Yunan Liu, Hong Wan, Yining Huang

Publication date 9 March 2022

Published in Computers \& Operations Research (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.cor.2021.105365

zbMATH Keywords

discrete-event simulationblockchainmining competitionBitcoin mining policy

Mathematics Subject Classification ID

Operations research and management science (90Bxx)

Recommendations

• Socially optimal mining pools
• A further study of some Markovian bitcoin models from Göbel et al.
• Modeling and analysis of block arrival times in the Bitcoin blockchain
• Majority is not enough: bitcoin mining is vulnerable
• The Bitcoin backbone protocol with chains of variable difficulty

Cites work

• A systematic literature review on machine learning applications for sustainable agriculture supply chain performance
• Asynchronous consensus and broadcast protocols
• Bitcoin price forecasting with neuro-fuzzy techniques
• Majority is not enough: bitcoin mining is vulnerable
• Modeling and analysis of block arrival times in the Bitcoin blockchain
• On the role of local blockchain network features in cryptocurrency price formation
• Risk decision analysis in emergency response: a method based on cumulative prospect theory
• The Bitcoin backbone protocol with chains of variable difficulty
• Transaction-confirmation time for bitcoin: a queueing analytical approach to blockchain mechanism

Cited in

(6)

• A stochastic model and social optimization of a blockchain system based on a general limited batch service queue
• Sensitivity-based optimization for blockchain selfish mining
• Blockchain in dynamic networks
• A further study of some Markovian bitcoin models from Göbel et al.
• Modeling and analysis of block arrival times in the Bitcoin blockchain
• Blockchain competition: the tradeoff between platform stability and efficiency

Describes a project that uses

Uses Software

• BlockSim

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