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Incentive Mechanism for Rational Miners in Bitcoin Mining Pool

机译:比特币采矿池合理矿工的激励机制

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摘要

Bitcoin is one of the most popular cryptocurrency in the world. Miners in the Bitcoin network reduce their risks through participating in mining pool. Existing mining pool systems do not consider the cost and strategy of miners. In this paper, we study two mining models: public cost model and private cost model. For the public cost model, we design an incentive mechanism, calledMininggame, using aStackelberggame. We show thatMininggame is individually rational, profitable, and has the uniqueStackelberg Equilibrium. For the private cost model, we formulate theBudget Feasible Reward Optimization(BFRO) problem to maximize the reward function under the budget constraint, and design a budget feasible reverse auction to solve theBFROproblem, which is computationally efficient, individually rational, truthful, budget feasible, and constant approximate. Through extensive simulations, we evaluate the performance and validate the theoretical properties of our incentive mechanisms.
机译:比特币是世界上最受欢迎的加密货币之一。 比特币网络中的矿工通过参与采矿池来降低风险。 现有采矿池系统不考虑矿工的成本和策略。 在本文中,我们研究了两种采矿模式:公共成本模式和私人成本模式。 对于公共成本模型,我们使用Astackelberggame设计一个激励机制,叫做墨演称。 我们展示了墨西米宁格宫是单独理性的,有利可图的,拥有UniquestBlberg均衡。 对于私人成本模型,我们制定了TheBudget可行的奖励优化(BFRO)问题,以最大限度地提高预算限制下的奖励功能,并设计预算可行的反向拍卖,以解决基于计算效率,单独理性,真实,预算可行的预算, 和恒定的近似。 通过广泛的模拟,我们评估了我们激励机制的理论属性并验证了性能。

著录项

  • 来源
    《Information systems frontiers》 |2021年第2期|317-327|共11页
  • 作者单位

    Nanjing Univ Posts & Telecommun Jiangsu Key Lab Big Data Secur & Intelligent Proc Nanjing 210023 Jiangsu Peoples R China;

    Nanjing Univ Posts & Telecommun Jiangsu Key Lab Big Data Secur & Intelligent Proc Nanjing 210023 Jiangsu Peoples R China;

    Nanjing Univ Posts & Telecommun Jiangsu Key Lab Big Data Secur & Intelligent Proc Nanjing 210023 Jiangsu Peoples R China;

    Nanjing Univ Posts & Telecommun Jiangsu Key Lab Big Data Secur & Intelligent Proc Nanjing 210023 Jiangsu Peoples R China;

    Nanjing Univ Posts & Telecommun Jiangsu Key Lab Big Data Secur & Intelligent Proc Nanjing 210023 Jiangsu Peoples R China;

  • 收录信息
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

    Bitcoin; Mining pool; Incentive mechanism; Nash equilibrium; Auction;

    机译:比特币;采矿池;激励机制;纳什均衡;拍卖;

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