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Podcast: Epicenter - Learn about Crypto, Blockchain, Ethereum, Bitcoin and Distributed Technologies
Episode: Emin Gün Sirer & Ittay Eyal: From Selfish Miners to The Miner’s Dilemma
Description: Bitcoin’s approach to solving the double spending problem is to make a collusion and attack on the network prohibitively expensive. One of the main factors that will determine Bitcoin’s chance of survival in the long-term is whether the behavior that maximizes the profits of miners contributes to or sabotages the health of the network.
The game theory that determines this is complex and our understanding of it still incomplete. But research is increasing and two people who have been at the forefront of this work are , a professor in computer science at Cornell University, and Itta...