Incentive Analysis of Bitcoin-NG, Revisited

Bitcoin-NG is among the first scalable blockchain protocols by decoupling operation into two planes: leader election and transaction serialization. Its idea has inspired a new generation of protocols. However, existing incentive analysis several limitations. First, impact network capacity ignored. Second, an integrated that jointly considers both key blocks microblocks still missing. In this paper, we aim to address these propose takes account, showing can maintain compatibility against microblock mining attack even under limited capacity. leverage Markov decision process analyze microblocks, selfish revenue little higher than in Bitcoin only when miner controls more 35% power. We hope our in-depth for shed some light on mechanism design nextgeneration