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Multi-miner's Cooperative Evolution Method of Bitcoin Pool Based on Temporal Difference Leaning Method

Ou, Wei; Deng, Mingwei; Luo, Entao; Shi, Wei; Tan, Zhiyuan; Bhuiyan, Md

Authors

Wei Ou

Mingwei Deng

Entao Luo

Wei Shi

Md Bhuiyan



Abstract

Proof of Work (PoW) is used to provide a consensus mechanism for Bitcoin. In this mechanism, the process of generating a new block in the blockchain is referred to as mining. Such process is intentionally designed to be resource-intensive and time consuming so that the rate of block generation remains steady. A single participant, called a miner usually has limited computation power to produce PoWs. This leads miners to form a mining pool, where miners aggregate their computing power and share the rewards. However, a phenomenon raises in such a mining pool activity, where miners attack each other. Consequently, this results in a decrease in total rewards received from the mining pool. To address the abovementioned problem, we build a multi-miner model for forming a mining pool. We further propose a method to improve the cooperation-probability of miners in the pool by introducing a Zero-Determinant strategy and a Temporal Difference learning method (TD(λ)). Experimental simulation results show that the proposed method can effectively promote the cooperation among miners, therefore, increase the rewards received from the formed mining pool.

Citation

Ou, W., Deng, M., Luo, E., Shi, W., Tan, Z., & Bhuiyan, M. (2019). Multi-miner's Cooperative Evolution Method of Bitcoin Pool Based on Temporal Difference Leaning Method. In 2019 International Conference on Internet of Things (iThings) and IEEE Green Computing and Communications (GreenCom) and IEEE Cyber, Physical and Social Computing (CPSCom) and IEEE Smart Data (SmartData) (687-693). https://doi.org/10.1109/iThings/GreenCom/CPSCom/SmartData.2019.00131

Conference Name The 2019 IEEE International Conference on Cyber Physical and Social Computing (CPSCom-2019)
Conference Location Atlanta, USA
Start Date Jul 14, 2019
End Date Jul 17, 2019
Acceptance Date May 15, 2019
Online Publication Date Oct 21, 2019
Publication Date Oct 21, 2019
Deposit Date Jun 5, 2019
Publicly Available Date Mar 29, 2024
Publisher Institute of Electrical and Electronics Engineers
Pages 687-693
Book Title 2019 International Conference on Internet of Things (iThings) and IEEE Green Computing and Communications (GreenCom) and IEEE Cyber, Physical and Social Computing (CPSCom) and IEEE Smart Data (SmartData)
DOI https://doi.org/10.1109/iThings/GreenCom/CPSCom/SmartData.2019.00131
Keywords Bitcoin; Blockchain; Temporal Difference Learning Method; Zero-Determinant Strategy; Block withholding Attack
Public URL http://researchrepository.napier.ac.uk/Output/1855505

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