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Double spend races

Author

Listed:
  • Cyril Grunspan

    (ESILV - École Supérieure d'Ingénierie Léonard de Vinci)

  • Ricardo Pérez-Marco

    (IMJ-PRG (UMR_7586) - Institut de Mathématiques de Jussieu - Paris Rive Gauche - UPMC - Université Pierre et Marie Curie - Paris 6 - UPD7 - Université Paris Diderot - Paris 7 - CNRS - Centre National de la Recherche Scientifique, CNRS - Centre National de la Recherche Scientifique)

Abstract

We correct the double spend race analysis given in Nakamoto's foun-dational Bitcoin article and give a closed-form formula for the probability of success of a double spend attack using the Regularized Incomplete Beta Function. We give the first proof of the exponential decay on the number of confirmations and find an asymptotic formula. Larger number of confirmations are necessary compared to those given by Nakamoto.

Suggested Citation

  • Cyril Grunspan & Ricardo Pérez-Marco, 2018. "Double spend races," Post-Print hal-01456773, HAL.
    • Handle: RePEc:hal:journl:hal-01456773
    Note: View the original document on HAL open archive server: https://hal.science/hal-01456773
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    More about this item

    Keywords

    mining; proof-of-work; Regularized Incomplete Beta Function; Bitcoin; blockchain; double spend;
    All these keywords.

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