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Mining Pool Selection Strategy in Blockchain Networks: A Probabilistic Approach
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논문 기본 정보

Type
Academic journal
Author
Umer Majeed (Kyung Hee University) Kitae Kim (KyungHee University) Choong Seon Hong (경희대학교)
Journal
Korean Institute of Information Scientists and Engineers KIISE Transactions on Computing Practices Vol.26 No.6 KCI Accredited Journals
Published
2020.6
Pages
280 - 285 (6page)
DOI
10.5626/KTCP.2020.26.6.280

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Mining Pool Selection Strategy in Blockchain Networks: A Probabilistic Approach
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Research history (2)

2020

Mining Pool Selection Strategy in Blockchain Networks: A Probabilistic Approach
Ume ,  Majeed ,  Kitae Kim and others 1 KIISE Transactions on Computing Practices 2020.06 Academic journal

2019

Probabilistic Approach towards Mining Pool Selection in Blockchain Networks
Ume ,  Majeed ,  Choong Seon Hong 한국정보과학회 학술발표논문집 2019.06 Proceeding
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Abstract· Keywords

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Pool mining is the solution to the highly variant reward incentive in solo-mining for blockchain networks. In pool mining, miners collaborate to form mining pools and distribute the earned rewards in accordance with pool policies to earn a steady income. In this paper, we considered a paradigm for a new mining enterprise seeking amalgamation with one of the existing mining pools. We set the criteria of the highest winning probability with respect to other mining pools for such a merger. We formulated our problem for the selection of a mining pool for consolidation with the new mining enterprise. The simulation for a case scenario shows the influence of block size on propagation delay and winning probability. Finally, we selected the optimal mining pool for consolidation with the new mining enterprise based on winning probability and empirical analysis.
#블록체인 #마이닝 풀 선택 #풀 마이닝 #확률적 접근 #승리 확률 #blockchain #mining pool selection #pool mining #probabilistic approach #winning probability

Contents

요약
Abstract
1. Introduction
2. Recent Advances
3. System Model
4. Problem Formulation
5. Simulation Results
6. Conclusion
References

References (13)

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Y. Jiao, P. Wang, D. Niyato and K. Suankaewmanee, Auction mechanisms in cloud/fog computing resource allocation for public blockchain networks, IEEE Transactions on Parallel and Distributed Systems, Vol. 30, No. 9, pp. 1975-1989, Sept. 2019. google schola D. Kraft, Difficulty control for blockchain-based consensus systems, Peer-to-Peer Networking and Applications, Vol. 9, No. 2, pp. 397-413, 2016. google schola U. Majeed, and C. S. Hong, On the Proof-of-Work Puzzle Hardness in Bitcoin Blockchain, Proc. of the KIISE Korea Computer Congress 2018, pp. 1348- 1350, 2018. google schola H. Cho, ASIC-resistance of multi-hash proof-ofwork mechanisms for blockchain consensus protocols, IEEE Access, Vol. 6, pp. 66210-66222, 2018. google schola N. Zhao, H. Wu and Y. Chen, Coalition Gamebased Computation Resource Allocation for Wireless Blockchain Networks, IEEE Internet of Things Journal, Vol. 6, No. 5, pp. 8507-8518, 2019. google schola

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