Hostile Blockchain Takeovers

Joseph Bonneau

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

Abstract

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
Pages92-100
Number of pages9
ISBN (Print)9783662588192
DOIs
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

Conference

Conference22nd International Conference on Financial Cryptography and Data Security, FC 2018
Country/TerritoryNetherlands
CityNieuwpoort
Period2/26/183/2/18

ASJC Scopus subject areas

  • Theoretical Computer Science
  • General Computer Science

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