On the security and performance of proof of work blockchains
- Submitting institution
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Imperial College of Science, Technology and Medicine
- Unit of assessment
- 11 - Computer Science and Informatics
- Output identifier
- 2426
- Type
- E - Conference contribution
- DOI
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10.1145/2976749.2978341
- Title of conference / published proceedings
- ACM Computer and Communication Security (CCS), 2016
- First page
- 3
- Volume
- -
- Issue
- -
- ISSN
- -
- Open access status
- -
- Month of publication
- October
- Year of publication
- 2016
- URL
-
-
- Supplementary information
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- Request cross-referral to
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- Output has been delayed by COVID-19
- No
- COVID-19 affected output statement
- -
- Forensic science
- No
- Criminology
- No
- Interdisciplinary
- No
- Number of additional authors
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5
- Research group(s)
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-
- Citation count
- -
- Proposed double-weighted
- No
- Reserve for an output with double weighting
- No
- Additional information
- Proof of Work (PoW) underpins blockchains such as Bitcoin, currently accounting for more than 90% of total market capitalisation of existing digital currencies. We introduce a novel quantitative framework to analyse the security and performance implications of various consensus and network parameters of PoW blockchains. Our framework allows companies and foundations to capture existing PoW-based deployments in order to develop optimal instantiations. Our Blockchain simulator (https://github.com/arthurgervais/Bitcoin-Simulator; >100 GitHub stars) is used by ChaincodeLabs (https://chaincode.com; contact: FoEREF@ic.ac.uk). The paper led to Nimiq funding an overseas PhD studentship. CCS’16 acceptance rate: 16.5%/831.
- Author contribution statement
- -
- Non-English
- No
- English abstract
- -
