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December 2019

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Blockchain@UBC Student Information Session & Virtual Design Challenge Prize Giving Event
 
 
 
 
 
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A Licas Critique to the Difficulty Adjustment Algorithm of the Bitcoin System by Shunya Noda

January 21, 2020
1961 E Mall
Stikine Room (Room 260)
Vancouver, BC
Canada

Abstract: The design of the difficulty adjustment algorithm (DAA) of the Bitcoin system is vulnerable as it dismisses miners' response to the difficulty adjustment. We develop an economic model of the Proof-of-Work based blockchain system. Our model allows miners to pause operation when the...