Analysis of Difficulty Control in Bitcoin and Proof-of-Work Blockchains
Analysis of Difficulty Control in Bitcoin and Proof-of-Work Blockchains
复制标题
比特币和工作量证明区块链的难度控制分析
DOI:
10.1109/cdc.2018.8619082
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发表时间:
2018
期刊:
影响因子:
--
通讯作者:
A. Morse
中科院分区:
文献类型:
--
作者:
D. Fullmer;A. Morse
This paper presents a stochastic model for block arrival times based on the difficulty retargeting rule used in Bitcoin, as well as other proof-of-work blockchains. Unlike some previous work, this paper explicitly models the difficulty target as a random variable which is a function of the previous block arrival times and affecting the block times in the next retargeting period. An explicit marginal distribution is derived for the time between successive blocks (the blocktime), while allowing for randomly changing difficulty. This paper also aims to serve as an introduction to Bitcoin and proof-of-work blockchains for the controls community, focusing on the difficulty retargeting procedure used in Bitcoin.