BM-PAW: A Profitable Mining Attack in the PoW-based Blockchain System

• URL: http://arxiv.org/abs/2411.06187v1
• Date: Sat, 09 Nov 2024 13:59:55 GMT
• Title: BM-PAW: A Profitable Mining Attack in the PoW-based Blockchain System
• Authors: Junjie Hu, Xunzhi Chen, Huan Yan, Na Ruan,
• Abstract summary: We introduce a novel mining strategy, named BM-PAW, which yields superior rewards for both the attacker and the targeted pool. We find the BM-PAW attacker can circumvent the "miner's dilemma" through equilibrium analysis in a two-pool BM-PAW game scenario.
• Score: 9.292531856119329
• License:
• Abstract: Mining attacks enable an adversary to procure a disproportionately large portion of mining rewards by deviating from honest mining practices within the PoW-based blockchain system. In this paper, we demonstrate that the security vulnerabilities of PoW-based blockchain extend beyond what these mining attacks initially reveal. We introduce a novel mining strategy, named BM-PAW, which yields superior rewards for both the attacker and the targeted pool compared to the state-of-the-art mining attack: PAW. Our analysis reveals that BM-PAW attackers are incentivized to offer appropriate bribe money to other targets, as they comply with the attacker's directives upon receiving payment. We find the BM-PAW attacker can circumvent the "miner's dilemma" through equilibrium analysis in a two-pool BM-PAW game scenario, wherein the outcome is determined by the attacker's mining power. We finally propose practical countermeasures to mitigate these novel pool attacks.

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