Skip to main content
SpringerLink
Log in

A Note on Optimal Double Spending Attacks

  • Chapter
  • First Online:
2017 MATRIX Annals

Part of the book series: MATRIX Book Series ((MXBS,volume 2))

  • 1134 Accesses

Abstract

In the present note we address the important problem of stability of blockchain systems. The so-called “double-spending attacks” (attempts to spend digital funds more than once) have been analyzed by several authors. We re-state these questions under more realistic assumptions than previously discussed and show that they can be formulated as an optimal stopping problem.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 119.00
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Hardcover Book
USD 159.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  1. Antonopoulos, A.M.: Mastering Bitcoin: Programming the Open Blockchain, 2nd edn. O’Reilly Media, Inc., Sebastopol (2017). ISBN 1491954388, 9781491954386

    Google Scholar 

  2. Goebel, J., Keeler, H.P., Krzesinski, A.E., Taylor, P.G.: Bitcoin blockchain dynamics: the selfish-mine strategy in the presence of propagation delay. Perform. Eval. 104(Suppl. C), 23–41 (2016). ISSN 0166–5316. http://www.sciencedirect.com/science/article/pii/S016653161630089X

  3. Gruenspan, C., Perez-Marco, R.: Double spend races. Working paper (2017)

    Google Scholar 

  4. Nakomoto, S.: A peer-to-peer electronic cash system. Working paper (2008)

    Google Scholar 

  5. Rosenfeld, M.: Analysis of hashrate-based double spending. Working paper (2014)

    Google Scholar 

Download references

Acknowledgement

The first author expresses his warmest gratitudes to Kostya Borovkov for useful remarks.

Author information

Authors and Affiliations

  1. School of Mathematical and Physical Sciences, University of Technology Sydney, Broadway, NSW, Australia

    Juri Hinz

  2. School of Mathematics and Statistics, University of Melbourne, Melbourne, VIC, Australia

    Peter Taylor

Authors
  1. Juri Hinz
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. Peter Taylor
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Juri Hinz .

Editor information

Editors and Affiliations

  1. The University of Melbourne, Melbourne, Australia

    Jan de Gier

  2. University of Western Australia, Perth, Australia

    Cheryl E. Praeger

  3. UCLA, Los Angeles, CA, USA

    Terence Tao

Rights and permissions

Reprints and permissions

Copyright information

© 2019 Springer Nature Switzerland AG

About this chapter

Check for updates. Verify currency and authenticity via CrossMark

Cite this chapter

Hinz, J., Taylor, P. (2019). A Note on Optimal Double Spending Attacks. In: de Gier, J., Praeger, C., Tao, T. (eds) 2017 MATRIX Annals. MATRIX Book Series, vol 2. Springer, Cham. https://doi.org/10.1007/978-3-030-04161-8_47

Download citation

Publish with us

Policies and ethics

Search

Navigation