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| Nicolas Houy |
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| ''It will cost you nothing to "kill" a proof-of-stake crypto-currency'' |
| ( 2014, Vol. 34 No.2 ) |
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| 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.
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| Keywords: Bitcoin, protocol, proof of work, proof of stake, 51% attack |
JEL: D4 - Market Structure and Pricing: General
Z0 - Other Special Topics: General |
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| Manuscript Received : Feb 12 2014 | | Manuscript Accepted : May 11 2014 |
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