Selfish Mining Explained
Selfish mining is a strategy used by miners to gain more profits
by not immediately broadcasting newly found blocks and keeping them secret.
by not immediately broadcasting newly found blocks and keeping them secret.
⚙️ Scenario
Imagine two miners — Alice and Bob — competing to extend the same blockchain.
🧩 How It Works
Round 1: Alice finds a block but doesn’t broadcast it (keeps it secret).
Round 2: Bob mines a block and broadcasts it.
Round 3: Alice mines another secret block and then publishes both, creating a longer chain.
Round 2: Bob mines a block and broadcasts it.
Round 3: Alice mines another secret block and then publishes both, creating a longer chain.
💰 Outcome
The network adopts Alice’s chain since it’s longer,
and she earns a greater reward for both blocks.
and she earns a greater reward for both blocks.
Selfish mining becomes profitable when α > 33%,
where α is the miner’s share of the total computational power.
where α is the miner’s share of the total computational power.
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