Bribes to Miners: Evidence from Ethereum

03/28/2022

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by   Xiaotong Sun, et al.

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Though blockchain aims to alleviate bribing attacks, users can collude with miners by directly sending bribes. This paper focuses on empirical evidence of bribes to miners, and the detected behaviour implies that mining power could be exploited. By scanning transactions on Ethereum, transactions for potential direct bribes are filtered, and we find that the potential bribers and bribees are centralized in a small group. After constructing proxies of active level of potential bribing, we find that potential bribes can affect the status of Ethereum and other mainstream blockchains, and network adoption of blockchain can be influenced as well. Besides, direct bribes can be related to stock markets, e.g., S P 500 and Nasdaq.