a r X i v :1112.4980v 1 [c s .D C ] 21 D e c 2011
糖豆电影
Analysis of Bitcoin Pooled Mining Reward
Systems
Meni Ronfeld December 22,2011
印章刻章公司
Abstract
In this paper we describe the various scoring systems ud to calculate rewards of participants in Bitcoin pooled mining,explain the problems each were designed to solve and analyze their respective advantages and disadvantages.
Contents
1Introduction1
1.1Bitcoin and mining (1)
二年级体育课教案1.2Variance of solo mining (1)
1.3Pooled mining (2)
2Simple reward systems4
怎么撒娇2.1Proportional (4)
2.2Pay-per-share(PPS) (6)
3Score-bad methods7
3.1Slush’s method (7)激励薪酬
3.2Geometric method (8)
3.3Pay-per-last-N-shares(PPLNS) (10)
3.4Score-bad methods myths (13)
4Attempts for risk-free pay-per-share15
4.1Maximum pay-per-share(MPPS) (15)
4.2Shared maximum pay-per-share(SMPPS) (16)
4.3Equalized SMPPS(ESMPPS) (17)
5Advanced methods18
5.1Double geometric method (18)
5.2General unit-bad framework (20)
5.3PPLNS variants (21)
6Attack vectors23
6.1Pool-hopping (23)
6.2Block withholding (23)
6.2.1Sabotage (24)写李清照的作文
6.2.2Lie in wait (24)
6.2.3Propod solution–Oblivious shares (25)
i
7Nonstandard reward systems26
7.1Shares as a future payment contract (26)
7.2Variable block rewards (26)
7.3Hybrid reward methods (27)
7.4Heterogeneous pools (27)
7.5Variable difficulty shares (28)
7.6Proxy mining (29)
7.7Score cashout (30)
7.8Score markets (30)
7.9Streamlined PPS investments (30)
8Conclusion32
A Properties of proportional pools with constant hashrate33
B Pool-hopping in proportional pools34
C Safety nets for PPS pools37
D The hopping immunity theorem39
E Properties of the geometric method40
率先的近义词
F Properties of*MPPS pools43
F.1Expected loss in MPPS (43)
F.2Maturity time in SMPPS (43)
G Hashratefluctuation pool-hopping44 Bibliography46
ii
Chapter1
Introduction
1.1Bitcoin and mining
Bitcoin is the world’sfirst decentralized digital currency([3]).It relies,among other things, on a network of computers that synchronize transactions with a process called mining.Min-ing consists in repeatedly computing hashes of variants of a data structure called a block header,until one is found who numerical value is low enough.When this happens it allows releasing a valid block,for which the miner is rewarded with bitcoins in an amount we will denote B.
Assuming sufficient quality of the hash function in the protocol and the pudo-random number generator ud in the construction of the block header,whether a given calculated hash leads to a valid block can be considered for all purpos a random event,independent of the validity of any other calculated hash.A quantity known as the difficulty(which we will denote D)is adjusted periodically by the network and determines,as the name suggests, the difficulty offinding a valid bloc
k.The target value is chon so that every computed hash will lead to a valid block with probability1
blocks.His expected payout is thus htB
依依色播232D
=109hash/s·86400s
232D
1Strictly speaking it is actually216−1
