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Personalized Difficulty Adjustment for Countering the Double-Spending Attack in Proof-of-Work Consensus Protocols

arXiv:1807.02933
Date: 2018-07-09
Author(s): Chi-Ning Chou, Yu-Jing Lin, Ren Chen, Hsiu-Yao Chang, I-Ping Tu, Shih-wei Liao

Link to Paper


Abstract
Bitcoin is the first secure decentralized electronic currency system. However, it is known to be inefficient due to its proof-of-work (PoW) consensus algorithm and has the potential hazard of double spending. In this paper, we aim to reduce the probability of double spending by decreasing the probability of consecutive winning. We first formalize a PoW-based decentralized secure network model in order to present a quantitative analysis. Next, to resolve the risk of double spending, we propose the personalized difficulty adjustment (PDA) mechanism which modifies the difficulty of each participant such that those who win more blocks in the past few rounds have a smaller probability to win in the next round. To analyze the performance of the PDA mechanism, we observe that the system can be modeled by a high-order Markov chain. Finally, we show that PDA effectively decreases the probability of consecutive winning and results in a more trustworthy PoW-based system.

References
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[10] Andre Berchtold and Adrian E Raftery, “The mixture tran- ´sition distribution model for high-order markov chains and non-gaussian time series,” Statistical Science, pp. 328–356, 2002.
[11] Waiki Ching, Michael K Ng, and Shuqin Zhang, “On computation with higher-order markov chains,” in Current Trends in High Performance Computing and Its Applications, pp. 15–24. Springer, 2005.
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[13] Wen Li and Michael K Ng, “On the limiting probability distribution of a transition probability tensor,” Linear and Multilinear Algebra, vol. 62, no. 3.
[14] Jen-Hung Tseng, Yen-Chih Liao, Bin Chong, and Shih-Wei Liao, “Governance on the drug supply chain via gcoin blockchain,” International Journal of Environmental Research and Public Health, 2018.
[15] Shih-Wei Liao, Boyu Lin, and En-Ran Zhou, “Gcoin:wiki, code and whitepaper,” https://g-coin.org and github.com/OpenNetworking/gcoin-community/wiki/Gcoinwhite-paper-English, 2014.
[16] Meni Rosenfeld, “Analysis of hashrate-based double spending,” arXiv preprint arXiv:1402.2009, 2014.
[17] Joshua A Kroll, Ian C Davey, and Edward W Felten, “The economics of bitcoin mining, or bitcoin in the presence of adversaries,” in Proceedings of WEIS, 2013, vol. 2013.
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News roundup for the previous week.
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  5. Chinese media claims Tillerson visit was a home run — for China
  6. Saudi Arabia and China just hit the 'next level' for strategic collaboration, Saudi CEO says
  7. After Saudi king, China warmly welcomes Israel's prime minister
  8. Nepal committed to One China policy: Deuba tells delegation from Beijing
  9. Chinese mainland is home to two of the top three universities in Asia, according to research published by the Times Higher Education. In total, Chinese mainland has 54 institutions in the listing of top 300 universities in Asia
  10. Trump’s Top Diplomat Goes to China, Promptly Bends Over - Rex Tillerson gives in immediately
  11. Tillerson has offered to reschedule talks with his NATO allies after snubbing April's meeting. His decision, to prioritize a meeting with China, was described as "unprecedented."
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  13. Frank Wu discusses hate crimes against the Asian American community
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  16. Did Rex Tillerson Misspeak or Intentionally Kowtow to China?
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  20. The Chinese embassy in Indonesia has accused local customs officials of targeting Chinese tourists and demanding they give them illicit “tips” at border controls, advised Chinese tourists not to succumb to pressure to pay illegal tips to customs or other officials
  21. UN Security Council approves China’s resolution: called on countries to "strengthen the process of regional economic cooperation...including through regional development initiatives such as the Silk Road Economic Belt and the 21st-Century Maritime Silk Road (the Belt and Road) Initiative"
  22. Japan PM Shinzo Abe embroiled in land-sale scandal
  23. Chinese premier assures stability in South China Sea to boost trade
  24. South Korea salvage operation brings up Sewol ferry 3 years after disaster
  25. Sri Lanka, China discuss ways to step up military cooperation
  26. High-speed diplomacy: Exporting China’s train technology. China and Thailand came to an agreement to link the Chinese border with Laos and ports on Thailand’s coast. In Turkey, China helped link Ankara with Istanbul. In Indonesia the Jakarta-Bandung line will begin this year
  27. China, Australia agree to promote trade liberalization
  28. China captures more than 2,500 fugitives who fled overseas
  29. Anti-Chinese Attitudes in Mongolia through Generational Imprinting
  30. China and the European Union (EU) are being forced to thaw their decade-long tensions and unite to push for free trade because of U.S. President Donald Trump policies and his "America First" mantra
  31. China-led AIIB approves 13 new members, Canada joins: approved applicants include eight non-Asian countries - Canada, Belgium, Ethiopia, Hungary, Ireland, Peru, Republic of Sudan and Venezuela - and five regional members - Hong Kong, Afghanistan, Armenia, Fiji and Timor Leste
In Domestic news
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  2. Hays Report: China and Malaysia had the highest management roles held by women in the region, both at 35%. Christine Wright, Managing Director of Hays in Asia, said "It's worth noticing that China has led Asia for the number of management roles held by women consistently in the past five years"
  3. 80% of Chinese students return home – MoE: According the ministry’s figures, around 36% of the students who went abroad in 2016 studied a postgraduate degree, while 31% went for an undergraduate degree
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  5. Top 10 billionaires with largest influence on Chinese social media: The top 10 entrepreneurs on China's social media Sina Weibo are not all from the richest families in the country
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  5. US risks falling behind China in Supercomputing by 2020: Taihu Light triple the previous record-setting numbers of Tianhe-2. Achieved using Chinese designed 28nm SOC architecture. Coupled with high performance computing advancements, three Chinese research teams finalists for 2016 Gordon Bell prize
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  10. Chinese researchers announce designer baby breakthrough: Chinese researchers used a genome editing technique called CRISPR to rid normal embryos of hereditary diseases that cause blood disorders and other ailments
  11. Regular Tea Consumption Reduces Risk of Neurocognitive Disorders in Older Adults, Study Says: “Based on current knowledge, this long term benefit of tea consumption is due to the bioactive compounds in tea leaves, such as catechins, theaflavins, thearubigins and L-theanine,” Dr. Feng said
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  13. NSA, DOE say China's supercomputing advances put U.S. at risk
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  15. China And Israel Tech Ties Grow Closer With $10M Deal For 3 AI Centers: house R&D facilities that will work toward commercialization of artificial intelligence
  16. Chinese scientists repurpose silkworms as virus shredders: researchers transformed a popular gene-editing tool into a weapon that the silkworm can use to shred deadly viral strains into fragments, according to a paper in the latest issue of the Journal of Virology
  17. CRISPR May Speed Pig-to-Human Transplants: George Church and cofounder Luhan Yang's eGenesis developing two different designs. One is for a pig with a “humanized” immune system and the other is for a pig cleansed of risky viruses
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  19. China’s push to become a tech superpower trigger alarms abroad: China’s technological might alongside efforts to restructure its industrial policy through a scheme known as Made in China 2025. Billions of dollars have been pumped into research and the acquisition of overseas assets
  20. Inside Tencent's AI Lab: How It Created China's Own AlphaGo In A Year. AI Lab was officially established in April 2016. Currently has over 50 AI scientists (90% of them with PhDs) and over 200 engineers focused on computer vision, voice recognition, natural language process, and machine learning
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  1. How Bitcoin Could Save China’s Economy
  2. UN agency: China has explosive growth in patent applications. The U.N.'s intellectual property agency says China is showing "quite extraordinary" growth in international patent applications, putting Chinese applicants on track to outpace their U.S. counterparts within two to three years
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  4. Tencent becomes China’s first $100 billion brand
  5. WIPO chief calls China's patent application growth "extraordinary": "China-based filers are behind much of the growth in international patent and trademark filings...as the country continues its journey from 'Made in China' to 'Created in China'," WIPO Director General Francis Gurry explained
  6. China's extreme income inequality appears to be improving after decades of deterioration -Quartz
  7. Chinese company Geely saves UK company from closure, creates local jobs while fast-tracking transition to Electric Vehicles
  8. Chinese investors look to hockey as NHL tries to expand footprint
  9. China May Set New Rules to Curb ‘Irrational’ Outbound Investment This Year: The state foreign exchange regulator has said the government will more closely monitor "irrational" investment in property, entertainment, sports, and other sectors
  10. Why Airbnb won't find a home in China anytime soon
  11. Trump's U.S. jobs push may open doors to China in Mexico: ICBC bank
  12. China Bets on Sensitive U.S. Start-Ups, Worrying the Pentagon
  13. China to cultivate more skilled workers
  14. Competition From China Reduced Innovation in the US
In Military news
  1. Beijing Goes Global: China Expands Marine Force 400%, First Overseas Military Base Almost Complete
  2. Bangladesh Navy Commissions Two Type 035G Diesel-Electric Submarines from China: First ever in of history Bangladesh Navy has inducted two submarines BNS Nobojatra’ andBNS Joyjatra’ to its fleet
  3. China to boost marine corps by 400pc to enforce growing world influence: This includes plans to deploy detachments to secure the ports of Djibouti, on the strategically significant Horn of Africa maritime chokepoint, and Gwadar in southwest Pakistan
  4. China, Pakistan agree to further increase military cooperation: China’s leadership appreciated Pakistan’s fight against terrorism with a special mention of eliminating Al Qaeda, Tehreek-e-Taliban Pakistan (TTP) and the East Turkmenistan Islamic Movement (ETIM)
  5. Can China leapfrog the US in the scramble for the world’s best aircraft carrier? Ma Weiming, a top engineer working on the project, said on the sidelines of the National People’s Congress that China had made breakthroughs in its advanced ­arresting gear (AAG) system, while the US had stumbled
  6. 5 Ways Russia and China Could Sink America's Aircraft Carriers
  7. PLA Navy replaces ceremonial sabers with traditional Jian sword (x-post MilitaryPorn)
  8. Wei Yiyin, CASIC deputy general manager, confirmed the company is focusing on the development of a long-endurance stealth drone and a near-space drone. "can play an important role in high-resolution reconnaissance, long-distance precision strikes, anti-submarine operations and aerial combat"
  9. Russia, China making gains on US military power: “It’s not just one area or few areas. If you look at the evolution of [China’s] military over the last 15 years … it’s rather astonishing. Ballistic missiles, air defense, aircraft, electronic warfare, naval vessels” Ochmanek said
  10. Taiwan confirms China's deployment of DF-16 missiles: The DF-16 represents an increased threat to Taiwan because it is difficult to intercept with anti-ballistic missiles systems such as the MIM-104 Patriot PAC-3
  11. How China is preparing for cyberwar: Chinese military analysts often write of the PLA’s need to seize information dominance at the beginning stages of a conflict with a technologically advanced adversary through cyber attacks against command and control computers as well as satellite networks
  12. Battle Lasers! US, Russia, China Develop Brighter Beams for Blasting Enemies. China presented its Silent Hunter laser system at the International Defense Exhibition and Conferencein February. Low Altitude Guard II land mobile complex, was presented at a defense exhibition in South Africa
  13. Chinese President Xi Jinping again called for deeper military-civilian integration and emphasized science and technology innovation as the key to upgrading the technological capabilities of the People's Liberation Army
Other Notables
  1. The Legacy Of The Mississippi Delta Chinese
  2. DJI – Mavic Pro: The Art of Form
  3. Chinese maths textbooks to be translated for UK schools
  4. Pictures: Hailuogou, a wonderful glacier forest park
  5. Chinese Deaf Dance Team - Thousand Hands of Buddha
  6. Chinese woman making a DIY lunch at work
  7. Chinese man without hands sells clay figures that he makes for a living
  8. Bus stops in Suzhou
  9. Thoughts on the argument that china will be hamstrung because it is surrounded by hostile neighbors
  10. China welcomes Disney film’s gay content
  11. Foreign Internet Celebrities Skip China’s Firewall By Using Chinese Social Media Sites
  12. Could The Chinese Be The Next Dominant Force In Competitive Surfing? As the Chinese gear up for their first furore into competitive surfing at the ISA's this year, we look forward to the future. Despite a distinct lack of interest in surfing, they have set their sights to qualify for 2024 Olympics
  13. Panda Diplomacy: The World’s Cutest Ambassadors. It’s thought to have started as early as the Tang Dynasty in the 7th century when Empress Wu Zeitan sent a pair of bears (believed to be pandas) to Japan. This Chinese policy of sending pandas as diplomat gifts was revived in 1941
  14. Why China Must Confront North Korea
  15. How China ended the era of western domination
  16. Legendary sunken treasure discovered in Southwestern China - Xinhua
  17. Question, Are people overstating the importance of Military Alliances for China's Foreign Policy and its competition with America?
  18. Sinology by Andy Rothman - Trump, Trade & China Part II
  19. Global Times: Novel exploring excesses of 1950s land reform draws criticism from Maoists
  20. West must drop double standards on terror
  21. 16 women who changed Chinese art
  22. Unravelling the Tang: The Qiu Fu and Pang Xun (858-860), and Huang Chao Rebellions (878-880)
  23. Jenna Cook: The adopted girl claimed by 50 birth families - BBC News
  24. Why do Chinese students have higher test scores than Americans?
  25. Chinese Army in (Pakistan) 23rd March Parade
  26. 'My Life, My China’: Chinese journalist refused to cave in for the BBC - CGTN
  27. Huangguoshu Waterfall Shows Charm
  28. Chinese web novels help American man to conquer drug addiction
  29. Question: How much did the Cultural Revolution really Destroy?
  30. Translation of Chen Shou's official JS biography
  31. Chinese Opera Singer Nails The Impossible Alien Diva Song From Fifth Element
  32. Train route runs through an apartment block in Chongqing, China (x-post interestingasfuck)
  33. Pictures: Amazing Yuanyang Terrace in Yunnan, China
  34. Chinese peacekeeper puts love for daughter in sketches: During his posting in the West African nation, he missed his daughter a lot. "I wanted to give a special memento to my daughter," said Du
  35. Shennong: The God-King of Chinese Medicine and Agriculture
  36. Article in WSJ claims China is using pandas for "Geopolitical Domination"
  37. Korean here: what is your opinion about the installation of THAAD in korea and the subsequent boycott of Korean Goods?
  38. Translation of Huangfu Song's official HHS biography
  39. Western Documentary trying to smear China backfires as many western commenters defend China
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