Mathematical Derivation and Analysis of Success Probability of Bitcoin Attack

Abstract

By using block chain technology, bitcoin has realized a real de centralization and point to point digital currency system, which effectively solved the problems of "double payment" and "curbing inflation". Bitcoin has the value and function of money, therefore, in practical application, we need to consider one problem --"malicious attack", whose success probability affects the basic security performance of the system. This paper is based on the mathematical derivation and analysis of the model and formula given by the "Bitcoin: A peer-to-peer electronic cash system" in the original paper of Satoshi Takemoto's paper. And verify the theoretical guarantee that the success of attack needs the following conditions: Mastering the calculation power of "50%".