In "Majority is not Enough: Bitcoin Mining is Vulnerable", Eyal and Sirer study a Bitcoin mining strategy called selfish mining. Under selfish mining, miners strategically withhold blocks to cheat Bitcoin's mining incentive system. This represents a 'tragedy of the commons' in which selfish behavior is incentivized over honest behavior, eventually causing most miners to adopt the selfish strategy, despite it being harmful to Bitcoin as a whole.
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