Knowledge Commons of Institute of Automation,CAS
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 | |
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. |
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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 |
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