Double spend races

6 Feb 2017Cyril GrunspanRicardo Pérez-Marco

We correct the double spend race analysis given in Nakamoto's foundational Bitcoin article and give a closed-form formula for the probability of success of a double spend attack using the Regularized Incomplete Beta Function. We give a proof of the exponential decay on the number of confirmations, often cited in the literature, and find an asymptotic formula... (read more)

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