Cryptocurrencies: Miner Heterogeneity, Botnets, and Proof-of-Work Efficiency
Proof-of-work cryptocurrencies are heavily criticized for the alleged inefficiency of their mining mechanism. However, critics fail to distinguish between the resources that are used to secure the blockchain and those that are wasted. In this paper, we introduce a simple mining model and use this mo...
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| Format: | Article |
| Language: | English |
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Frontiers Media S.A.
2020-04-01
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| Series: | Frontiers in Blockchain |
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| Online Access: | https://www.frontiersin.org/article/10.3389/fbloc.2020.00016/full |