Cryptology ePrint Archive: Report 2018/581

Smart contracts for bribing miners

Patrick McCorry and Alexander Hicks and Sarah Meiklejohn

Abstract: We present three smart contracts that allow a briber to fairly exchange bribes to miners who pursue a mining strategy benefiting the briber. The first contract, CensorshipCon, highlights that Ethereumís uncle block reward policy can directly subsidise the cost of bribing miners. The second contract, HistoryRevisionCon, rewards miners via an in-band payment for reversing transactions or enforcing a new state of another contract. The third contract, GoldfingerCon, rewards miners in one cryptocurrency for reducing the utility of another cryptocurrency. This work is motivated by the need to understand the extent to which smart contracts can impact the incentive mechanisms involved in Nakamoto-style consensus protocols.

Category / Keywords: applications / bribery ethereum smart contracts goldfinger bitcoin

Original Publication (in the same form): Bitcoin Workshop 2018 at Financial Cryptography

Date: received 6 Jun 2018

Contact author: stonecoldpat at gmail com

Available format(s): PDF | BibTeX Citation

Version: 20180606:185739 (All versions of this report)

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