Bitcoin Mining as a Contest
This paper presents a simple game theoretic framework, assuming complete information, to model Bitcoin mining activity. It does so by formalizing the activity as an all-pay contest: a competition where participants contend with each other to win a prize by investing in computational power, and victo...
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| Format: | Article |
| Language: | English |
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University Library System, University of Pittsburgh
2017-09-01
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| Series: | Ledger |
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| Online Access: | https://ledgerjournal.org/ojs/index.php/ledger/article/view/96 |