Multi-miner's cooperative evolution method of bitcoin pool based on temporal difference leaning method
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.
|Bitcoin, Block withholding Attack, Blockchain, Temporal Difference Learning Method, Zero-Determinant Strategy|
|12th IEEE International Conference on Internet of Things, 15th IEEE International Conference on Green Computing and Communications, 12th IEEE International Conference on Cyber, Physical and Social Computing and 5th IEEE International Conference on Smart Data, iThings/GreenCom/CPSCom/SmartData 2019|
|Organisation||School of Information Technology|
Ou, W. (Wei), Deng, M. (Mingwei), Luo, E. (Entao), Shi, W, Tan, Z. (Zhiyuan), & Bhuiyan, M.Z.A. (Md Zakirul Alam). (2019). Multi-miner's cooperative evolution method of bitcoin pool based on temporal difference leaning method. In Proceedings - 2019 IEEE International Congress on Cybermatics: 12th IEEE International Conference on Internet of Things, 15th IEEE International Conference on Green Computing and Communications, 12th IEEE International Conference on Cyber, Physical and Social Computing and 5th IEEE International Conference on Smart Data, iThings/GreenCom/CPSCom/SmartData 2019 (pp. 687–693). doi:10.1109/iThings/GreenCom/CPSCom/SmartData.2019.00131