A Probabilistic Analysis of the Nxt Forging Algorithm

Serguei Popov


We discuss the forging algorithm of Nxt from a probabilistic point of view, and obtain explicit formulas and estimates for several important quantities, such as the probability that an account generates a block, the length of the longest sequence of consecutive blocks generated by one account, and the probability that one concurrent blockchain wins over an- other one. Also, we discuss some attack vectors related to splitting an account into many smaller ones. 

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DOI: https://doi.org/10.5195/ledger.2016.46


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