It will cost you nothing to "kill" a Proof-of-Stake crypto-currency

Nicolas Houy

No 1404, Working Papers from Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon

Abstract: It is a widely spread belief that crypto-currencies implementing a proof of stake transaction validation system are less vulnerable to a 51% attack than crypto-currencies implementing a proof of work transaction validation system. In this article, we show that it is not the case and that, in fact, if the attacker’s motivation is large enough (and this is common knowledge), he will succeed in his attack at no cost.

Keywords: Bitcoin; protocol; proof of work; proof of stake; 51% attack (search for similar items in EconPapers)
JEL-codes: G23 Z00 (search for similar items in EconPapers)
Date: 2014
New Economics Papers: this item is included in nep-mon
References: View complete reference list from CitEc
Citations: View citations in EconPapers (11)

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ftp://ftp.gate.cnrs.fr/RePEc/2014/1404.pdf (application/pdf)

Related works:
Journal Article: It will cost you nothing to "kill" a proof-of-stake crypto-currency (2014)
Working Paper: It will cost you nothing to "kill" a Proof-of-Stake crypto-currency (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:gat:wpaper:1404

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