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PoolSim: A Discrete-Event Mining Pool Simulation Framework

  • Sam M. WernerEmail author
  • Daniel Perez
Conference paper
  • 22 Downloads
Part of the Springer Proceedings in Business and Economics book series (SPBE)

Abstract

In Proof-of-Work cryptocurrencies, fair reward distribution within mining pools has become a popular area of research. Aside from a theoretical grounding, mining pool reward scheme research has commonly involved discrete event simulations of deterministic miner behaviour under different reward schemes. However, until now researchers have been left with the tedious task of developing their own mining pool simulation software, a rather time-consuming and potentially extensive undertaking, as miner behaviour becomes more complex. We present PoolSim, an open-source and very extensible discrete event simulation framework for modelling different behaviours of miners under any reward distribution scheme. By utilising this framework for different hypothetical mining scenarios, we showcase that mining pool reward scheme analysis indeed remains an exciting area for future research. Further, we believe that PoolSim will vastly increase productivity of researchers focusing on mining pools.

Keywords

Mining pools Discrete event simulation Mining pool reward scheme analysis Simulation tools 

Notes

Acknowledgements

The authors would like to thank Paul Pritz for helpful feedback. This research is supported by funding from the Brevan Howard Centre for Financial Analysis.

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Copyright information

© Springer Nature Switzerland AG 2020

Authors and Affiliations

  1. 1.Imperial College LondonLondonUK

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