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1
Intro
2
The Blockchain
3
Proof-of-Work
4
Blocks Creation Rate
5
Condition Difficulty
6
Longest Chain Rule
7
Mining Incentive
8
Included Transactions
9
Mining Time
10
Accumulating Fees Reward
11
Fees are becoming dominant..
12
Mining Scenario Revisited
13
Mining Gap
14
Expected Profit
15
Rational Miners
16
Let the Gap Game Begin
17
EBRR metric
18
Result - Gap Size
19
Result - Centralization
20
Bitcoin Test Case
21
Conclusion
Description:
Explore the intricacies of cryptocurrency security in this 21-minute ACM conference talk that introduces and analyzes the "gap game." Delve into a comprehensive study of blockchain systems, examining proof-of-work mechanisms, mining incentives, and the formation of gaps in the mining process. Learn about the combination of symbolic and numeric analysis tools used to evaluate various scenarios, and understand the implications for Bitcoin and other cryptocurrencies. Gain insights into mining profitability, centralization risks, and the evolving role of transaction fees in the blockchain ecosystem.

The Gap Game

Association for Computing Machinery (ACM)
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