A New Approach to Thwarting “Selfish” Bitcoin Miners

Selfish mining is an attack on the Bitcoin network that has been known to be possible for several years. By propagating new blocks slowly (on purpose or by accident), a loophole is opened for miners to unfairly increase their profits in relation to other miners. However, researchers Cyril Grunspan and Ricardo Pérez-Marco claim that by broadcasting the presence of orphan blocks, selfish mining can become a thing of the past. Grunspan, a professor at Paris’ ESILV graduate school of engineering, and Pérez-Marco, the director of research at the National Center…