Methods of security analysis for Nakamoto consensus

Abstract

Nakamoto consensus is one of the most fundamental consensus used in blockchain protocols. Its security is of significance in the field of blockchain and cryptocurrency applications. Existing studies have analyzed and proved the security of Nakamoto consensus from different aspects under various assumptions and models. This paper systematically summarizes the existing mainstream formalization and research methods for the security of Nakamoto consensus. Firstly, this paper describes the execution model of Nakamoto consensus including the time model, network model and attacker model. Secondly, this paper summarizes the formal definitions of the security properties of Nakamoto consensus. Thirdly, according to the time model, this paper divides different analysis methods into the discrete-time model and continuous-time model, and points out their advantages and disadvantages. Finally, this paper points out the future research directions for blockchain consensus security.