Hostile Blockchain Takeovers

Joseph Bonneau

Research output: Chapter in Book/Report/Conference proceedingConference contribution


Most research modelling Bitcoin-style decentralised consensus protocols has assumed profit-motivated participants. Complementary to this analysis, we revisit the notion of attackers with an extrinsic motivation to disrupt the consensus process (Goldfinger attacks). We outline several routes for obtaining a majority of decision-making power in the consensus protocol (a hostile takeover). Our analysis suggests several fundamental differences between proof-of-work and proof-of-stake systems in the face of such an adversary.

Original languageEnglish (US)
Title of host publicationFinancial Cryptography and Data Security - FC 2018 International Workshops, BITCOIN, VOTING, and WTSC, Revised Selected Papers
EditorsJeremy Clark, Massimiliano Sala, Ittay Eyal, Vanessa Teague, Andrea Bracciali, Aviv Zohar, Federico Pintore
PublisherSpringer Verlag
Number of pages9
ISBN (Print)9783662588192
StatePublished - 2019
Event22nd International Conference on Financial Cryptography and Data Security, FC 2018 - Nieuwpoort, Netherlands
Duration: Feb 26 2018Mar 2 2018

Publication series

NameLecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
Volume10958 LNCS
ISSN (Print)0302-9743
ISSN (Electronic)1611-3349


Conference22nd International Conference on Financial Cryptography and Data Security, FC 2018

ASJC Scopus subject areas

  • Theoretical Computer Science
  • General Computer Science


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