McCorry, P;
Hicks, A;
Meiklejohn, S;
(2019)
Smart contracts for bribing miners.
In: Zohar, A, (ed.)
Proceedings of International Conference on Financial Cryptography and Data Security, FC 2018. Lecture Notes in Computer Science, vol 10958.
(pp. pp. 3-18).
Springer: Berlin, Heidelberg.
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Abstract
We present three smart contracts that allow a briber to fairly exchange bribes to miners who pursue a mining strategy benefiting the briber. The first contract, CensorshipCon, highlights that Ethereum’s uncle block reward policy can directly subsidise the cost of bribing miners. The second contract, HistoryRevisionCon, rewards miners via an in-band payment for reversing transactions or enforcing a new state of another contract. The third contract, GoldfingerCon, rewards miners in one cryptocurrency for reducing the utility of another cryptocurrency. This work is motivated by the need to understand the extent to which smart contracts can impact the incentive mechanisms involved in Nakamoto-style consensus protocols.
| Type: | Proceedings paper |
|---|---|
| Title: | Smart contracts for bribing miners |
| Event: | International Conference on Financial Cryptography and Data Security, FC 2018. Lecture Notes in Computer Science |
| ISBN-13: | 978-3-662-58819-2 |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.1007/978-3-662-58820-8_1 |
| Publisher version: | https://doi.org/10.1007/978-3-662-58820-8_1 |
| Language: | English |
| Additional information: | This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions. |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL BEAMS UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science > Dept of Computer Science |
| URI: | https://discovery.ucl.ac.uk/id/eprint/10055896 |
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