A Probabilistic Analysis of the Nxt Forging Algorithm
We discuss the forging algorithm of Nxt from a probabilistic point of view, and obtain explicit formulas and estimates for several important quantities, such as the probability that an account generates a block, the length of the longest sequence of consecutive blocks generated by one account, and t...
| Main Author: | |
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| Format: | Article |
| Language: | English |
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University Library System, University of Pittsburgh
2016-12-01
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| Series: | Ledger |
| Online Access: | https://ledgerjournal.org/ojs/index.php/ledger/article/view/46 |
| _version_ | 1818129912923422720 |
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| author | Serguei Popov |
| author_facet | Serguei Popov |
| author_sort | Serguei Popov |
| collection | DOAJ |
| description | We discuss the forging algorithm of Nxt from a probabilistic point of view, and obtain explicit formulas and estimates for several important quantities, such as the probability that an account generates a block, the length of the longest sequence of consecutive blocks generated by one account, and the probability that one concurrent blockchain wins over an- other one. Also, we discuss some attack vectors related to splitting an account into many smaller ones. |
| first_indexed | 2024-12-11T07:56:41Z |
| format | Article |
| id | doaj.art-09c9e0c6fb6049a0a5fd1ce593470c0f |
| institution | Directory Open Access Journal |
| issn | 2379-5980 |
| language | English |
| last_indexed | 2024-12-11T07:56:41Z |
| publishDate | 2016-12-01 |
| publisher | University Library System, University of Pittsburgh |
| record_format | Article |
| series | Ledger |
| spelling | doaj.art-09c9e0c6fb6049a0a5fd1ce593470c0f2022-12-22T01:15:12ZengUniversity Library System, University of PittsburghLedger2379-59802016-12-0110698310.5195/ledger.2016.4610A Probabilistic Analysis of the Nxt Forging AlgorithmSerguei Popov0University of CampinasWe discuss the forging algorithm of Nxt from a probabilistic point of view, and obtain explicit formulas and estimates for several important quantities, such as the probability that an account generates a block, the length of the longest sequence of consecutive blocks generated by one account, and the probability that one concurrent blockchain wins over an- other one. Also, we discuss some attack vectors related to splitting an account into many smaller ones.https://ledgerjournal.org/ojs/index.php/ledger/article/view/46 |
| spellingShingle | Serguei Popov A Probabilistic Analysis of the Nxt Forging Algorithm Ledger |
| title | A Probabilistic Analysis of the Nxt Forging Algorithm |
| title_full | A Probabilistic Analysis of the Nxt Forging Algorithm |
| title_fullStr | A Probabilistic Analysis of the Nxt Forging Algorithm |
| title_full_unstemmed | A Probabilistic Analysis of the Nxt Forging Algorithm |
| title_short | A Probabilistic Analysis of the Nxt Forging Algorithm |
| title_sort | probabilistic analysis of the nxt forging algorithm |
| url | https://ledgerjournal.org/ojs/index.php/ledger/article/view/46 |
| work_keys_str_mv | AT sergueipopov aprobabilisticanalysisofthenxtforgingalgorithm AT sergueipopov probabilisticanalysisofthenxtforgingalgorithm |