id	author	title	date	pages	extension	mime	words	sentences	flesch	summary	cache	txt
www-bis-org-8025	Raphael Auer	Beyond the doomsday economics of "proof-of-work" in cryptocurrencies	2019-02-01	31	.pdf	application/pdf	16545	1372	66	Such "proof-of-work" allows a miner to add a block of newly processed transactions The first limitation is that proof-of-work axiomatically requires high transaction costs to ensure payment 3. The successful proof-of-work allows the miner to add a block of transactions to the blockchain, who update the blockchain via computational work, and in return receive block rewards and transaction Cryptographically chained, valid blocks of transactions form Bitcoin's blockchain Graph 3 computational work equal the block reward plus the transaction fees times the price of bitcoin.16 double-spent bitcoins, but also the block rewards and transaction fees in the forged chain, the attacker the security of bitcoin payments does not hold true: equation (8) shows that waiting times only add linearly transactions, and a cost of waiting of 1% per block, the optimal fee is set at 7.07% of the payment with fact that the attacker profits from a higher bitcoin income (block rewards, transaction fees, and 	./cache/www-bis-org-8025.pdf	./txt/www-bis-org-8025.txt