Research on the Pool Selection Strategy in Blockchain Mining

doi:10.1109/TCSS.2018.2861423

CASIA OpenIR > 多模态人工智能系统全国重点实验室 > 平行智能技术与系统团队

	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
DOI	10.1109/TCSS.2018.2861423
收录类别	EI
引用统计	被引频次：43[WOS] [WOS记录] [WOS相关记录]
文献类型	期刊论文
条目标识符	http://ir.ia.ac.cn/handle/173211/21610
专题	多模态人工智能系统全国重点实验室_平行智能技术与系统团队
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
第一作者单位	中国科学院自动化研究所
通讯作者单位	中国科学院自动化研究所
推荐引用方式 GB/T 7714	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.

条目包含的文件		下载所有文件
文件名称/大小	文献类型	版本类型	开放类型	使用许可
Research on the Pool（2239KB）	期刊论文	作者接受稿	开放获取	CC BY-NC-SA	浏览下载