A Probabilistic Analysis of the Nxt Forging Algorithm

  • Serguei Popov University of Campinas
DOI: https://doi.org/10.5195/ledger.2016.46

Abstract

We discuss the forging algorithm of Nxt from a probabilistic point of view, and obtain explicit formulas and estimates for several important quantities, such as the probability that an account generates a block, the length of the longest sequence of consecutive blocks generated by one account, and the probability that one concurrent blockchain wins over an- other one. Also, we discuss some attack vectors related to splitting an account into many smaller ones. 

Author Biography

Serguei Popov, University of Campinas
Full professor at Department of Statistics, www.ime.unicamp.br

References

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Andruiman. “PoS forging algorithms: multi-strategy forging and related security issues.” (2015) https://scribd.com/doc/256072839/PoS-forging-algorithms-multi-strategy-forging-and-related-security-issues

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Ledger: The Inaugural Issue
Published
2016-12-21
How to Cite
Popov, S. (2016). A Probabilistic Analysis of the Nxt Forging Algorithm. Ledger, 1, 69–83. https://doi.org/10.5195/ledger.2016.46
Issue
Vol. 1 (2016)
Section
Research Articles

Copyright (c) 2016 Serguei Popov

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