The Selfish mining attack against blockchain protocols was discovered and formalized in 2013 by Eyal and Sirer (also see our blog post). The Bitcoin community has mentioned similar types of attacks in 2010. This attack remains a vulnerability of all operational blockchains we are aware of. For Bitcoin’s blockchain algorithm (under reasonable network assumptions), a coalition controlling over 1/4 of the mining power can improve its revenue using this attack. The situation is even worse if we consider more powerful attacks (see Sapirshtein, Sompolinsky, Zohar, Heilman et al., and Nakak et al.).

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