Research on the Pool Selection Strategy in Blockchain Mining
Qin, Rui1,2,3; Yuan, Yong1,2,3; Wang, Fei-Yue1,4,5
发表期刊IEEE Transactions on Computational Social Systems
2018-09
卷号5期号:3页码:748-757
摘要Since the increasing popularization of the emerging blockchain technology, blockchain mining has attracted more and more attention. Due to the difficulty of solo mining, typically miners choose to join a mining pool. As there are many mining pools and different mining pools may adopt different reward mechanisms, how to choose the appropriate mining pool has become one of the most important issues faced by miners, since miners can get different rewards in different pools. In practice, there are three commonly used reward mechanisms for the mining pools to distribute the reward among their miners, namely, the proportional mechanism, the pay-per-share mechanism, and the pay-per-last-N-share mechanism. In this paper, we study the pool selection problem faced by the miners, and model it as a risk decision problem since different reward mechanisms have different risks. We establish a pool selection model based on the maximum-likelihood criterion and also study the effect of N on the miners’ optimal pool selection decisions. By utilizing the computational experiments approach, we validate our proposed pool selection strategies. Our results can provide important managerial insights for miners when making their pool selection decisions.
关键词Blockchain Mining Maximum-likelihood Criterion Pool Selection Reward Mechanism Risk Decision
DOI10.1109/TCSS.2018.2861423
收录类别EI
引用统计
文献类型期刊论文
条目标识符http://ir.ia.ac.cn/handle/173211/21610
专题复杂系统管理与控制国家重点实验室_先进控制与自动化
通讯作者Qin, Rui
作者单位1.The State Key Laboratory for Management and Control of Complex Systems, Institute of Automation, Chinese Academy of Sciences
2.Qingdao Academy of Intelligent Industries
3.Beijing Engineering Research Center of Intelligent Systems and Technology, Institute of Automation, Chinese Academy of Sciences
4.Research Center of Military Computational Experiments and Parallel System, National University of Defense Technology
5.Center of China Economic and Social Security, University of Chinese Academy of Sciences
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Qin, Rui,Yuan, Yong,Wang, Fei-Yue. Research on the Pool Selection Strategy in Blockchain Mining[J]. IEEE Transactions on Computational Social Systems,2018,5(3):748-757.
APA Qin, Rui,Yuan, Yong,&Wang, Fei-Yue.(2018).Research on the Pool Selection Strategy in Blockchain Mining.IEEE Transactions on Computational Social Systems,5(3),748-757.
MLA Qin, Rui,et al."Research on the Pool Selection Strategy in Blockchain Mining".IEEE Transactions on Computational Social Systems 5.3(2018):748-757.
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