Economic Issues in Bitcoin Mining and Blockchain Research
Abstract
With the development of the blockchain technology, Bitcoin mining has become more and more popular. This paper aims to provide a three-level framework of the economic issues in Bitcoin mining research, from the levels of mining pools, individual miners and blockchain network. We also offer an overview of relevant research efforts in literature. Considering the uncertainty, diversity and complexity of the Bitcoin ecosystems, we propose a novel research framework based on the ACP theory, which can be used to explore the economic issues in the Bitcoin ecosystems. This paper aims to provide a preliminary investigation to the economic issues faced by participants in the Bitcoin ecosystems, and stimulate the attentions and interests of researchers in this field.
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A user may not be willing to devote resources to mining if it does not have much economic benefit to compensate for the consumption of computational and storage resources.
“A user may not be willing to devote its resources to perform mining if it does not have much economic benefits to compensate the consumption of computational and storage resources [88], [89].”
From Federated learning meets blockchain in edge computing: Opportunities and challenges (2021) · cites this paper as [88]
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- Authors
- Qin, R., Yuan, Y., Wang, S., & Wang, F.-Y.
- Affiliations
- Qingdao Academy of Intelligent Industries (CN)
- University of Chinese Academy of Sciences (CN)
- Venue
- 2018 IEEE Intelligent Vehicles Symposium (IV)
- Publisher
- IEEE
- Published
- 2018-06
- Pages
- 268-273
- ISSN
- 1931-0587 (ISSN-L)
- OpenAlex
- W2896210679
- Cited by
- 31
- References
- 34
- Citations by year
- 2025: 1 · 2024: 3 · 2023: 4 · 2022: 3 · 2021: 8 · 2020: 7 · 2019: 4 · 2018: 1
- FWCI
- 3.92
- Type
- conference paper
- Language
- en
- Open access
- closed
- Locations
- IEEE Intelligent Vehicles Symposium (publishedVersion)
- Topics
- Physical Sciences › Computer Science › Information Systems › Blockchain Technology Applications and Security
- Physical Sciences › Computer Science › Information Systems › Blockchain Technology in Education and Learning
- Social Sciences › Business, Management and Accounting › Management Information Systems › FinTech, Crowdfunding, Digital Finance
- Keywords
- Bitcoin mining, blockchain economics, mining pools, blockchain networks, research framework, economic problems
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