Hostile Blockchain Takeovers

Joseph Bonneau

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

Most research modelling Bitcoin-style decentralised consensus protocols has assumed profit-motivated participants. Complementary to this analysis, we revisit the notion of attackers with an extrinsic motivation to disrupt the consensus process (Goldfinger attacks). We outline several routes for obtaining a majority of decision-making power in the consensus protocol (a hostile takeover). Our analysis suggests several fundamental differences between proof-of-work and proof-of-stake systems in the face of such an adversary.

Original languageEnglish (US)
Title of host publicationFinancial Cryptography and Data Security - FC 2018 International Workshops, BITCOIN, VOTING, and WTSC, Revised Selected Papers
EditorsAndrea Bracciali, Aviv Zohar, Jeremy Clark, Massimiliano Sala, Ittay Eyal, Vanessa Teague, Federico Pintore
PublisherSpringer-Verlag
Pages92-100
Number of pages9
ISBN (Print)9783662588192
DOIs
StatePublished - Jan 1 2019
Event22nd International Conference on Financial Cryptography and Data Security, FC 2018 - Nieuwpoort, Netherlands
Duration: Feb 26 2018Mar 2 2018

Publication series

NameLecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
Volume10958 LNCS
ISSN (Print)0302-9743
ISSN (Electronic)1611-3349

Conference

Conference22nd International Conference on Financial Cryptography and Data Security, FC 2018
CountryNetherlands
CityNieuwpoort
Period2/26/183/2/18

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ASJC Scopus subject areas

  • Theoretical Computer Science
  • Computer Science(all)

Cite this

Bonneau, J. (2019). Hostile Blockchain Takeovers. In A. Bracciali, A. Zohar, J. Clark, M. Sala, I. Eyal, V. Teague, & F. Pintore (Eds.), Financial Cryptography and Data Security - FC 2018 International Workshops, BITCOIN, VOTING, and WTSC, Revised Selected Papers (pp. 92-100). (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics); Vol. 10958 LNCS). Springer-Verlag. https://doi.org/10.1007/978-3-662-58820-8_7