Selfish Mining and Defending Strategies in the Bitcoin

As a kind of distributed, decentralized and peer-to-peer transmittedtechnology, blockchain technology has gradually changed people's lifestyle.However, blockchain technology also faces many problems including selfishmining attack, which causes serious effects to the development of blockchaintechnology. Selfish mining is a kind of mining strategy where selfish minersincrease their profit by selectively publishing hidden blocks. This paper buildsthe selfish mining model from the perspective of node state conversion and utilizethe function extremum method tofigure out the optimal profit of this model.Meanwhile, based on the experimental data of honest mining, the author conductsthe simulation of selfish mining and discovers that selfish miners are able toacquire more revenue than honest miners when they account for more than1/3 computing power of the whole system. Lastly, to defend the selfish miningattack, the author also summarizes the existing defending strategies and evaluatesevery kind of strategy briefly.