publication . Preprint . 2017

An Explanation of Nakamoto's Analysis of Double-spend Attacks

Ozisik, A. Pinar; Levine, Brian Neil;
Open Access English
  • Published: 14 Jan 2017
Abstract
The fundamental attack against blockchain systems is the double-spend attack. In this tutorial, we provide a very detailed explanation of just one section of Satoshi Nakamoto's original paper where the attack's probability of success is stated. We show the derivation of the mathematics relied upon by Nakamoto to create a model of the attack. We also validate the model with a Monte Carlo simulation, and we determine which model component is not perfect.
Subjects
arXiv: Computer Science::Cryptography and SecurityComputer Science::Multimedia
free text keywords: Computer Science - Cryptography and Security
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