Explain whether such consensus protocols for bitcoin

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Question: Bitcoin's security rests critically on the distributed consensus protocol that maintains the blockchain, run by miners. Conventional wisdom asserts that the mining protocol is incentivecompatible and secure against colluding minority groups. That is, it incentivizes the honest miners that follow the protocol as prescribed. Please do a literature survey and explain whether such consensus protocols for Bitcoin/Blockchain systems are sufficient, for example, whether certain type of miners can obtain a revenue larger than their fair share.

Reference no: EM133453459

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