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An Exploration of Bitcoin Mining Practices: Miners’ Trust Challenges and Motivations

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An Exploration of Bitcoin Mining Practices: Miners’ Trust Challenges and Motivations. / Khairuddin, Irni; Sas, Corina.
Proceedings of the 2019 CHI Conference on Human Factors in Computing Systems. ACM, 2019. 629.

Research output: Contribution in Book/Report/Proceedings - With ISBN/ISSN › Conference contribution/Paper › peer-review

Harvard

Khairuddin, I & Sas, C 2019, An Exploration of Bitcoin Mining Practices: Miners’ Trust Challenges and Motivations. in Proceedings of the 2019 CHI Conference on Human Factors in Computing Systems., 629, ACM, 2019 CHI Conference on Human Factors in Computing Systems, Glasgow, United Kingdom, 4/05/19. https://doi.org/10.1145/3290605.3300859

APA

Khairuddin, I., & Sas, C. (2019). An Exploration of Bitcoin Mining Practices: Miners’ Trust Challenges and Motivations. In Proceedings of the 2019 CHI Conference on Human Factors in Computing Systems Article 629 ACM. https://doi.org/10.1145/3290605.3300859

Vancouver

Khairuddin I, Sas C. An Exploration of Bitcoin Mining Practices: Miners’ Trust Challenges and Motivations. In Proceedings of the 2019 CHI Conference on Human Factors in Computing Systems. ACM. 2019. 629 doi: 10.1145/3290605.3300859

Author

Khairuddin, Irni ; Sas, Corina. / An Exploration of Bitcoin Mining Practices : Miners’ Trust Challenges and Motivations. Proceedings of the 2019 CHI Conference on Human Factors in Computing Systems. ACM, 2019.

Bibtex

@inproceedings{4279ddde05af42f58f9de16148b575da,
title = "An Exploration of Bitcoin Mining Practices: Miners{\textquoteright} Trust Challenges and Motivations",
abstract = "Bitcoin blockchain technology is a distributed ledger of nodes authorizing transactions between anonymous parties. Its key actors are miners using computational power to solve mathematical problems for validating transactions. By sharing blockchain's characteristics, mining is a decentralized, transparent and unregulated practice, less explored in HCI, so we know little about miners' motivations and experiences, and how these may impact on different dimensions of trust. This paper reports on interviews with 20 bitcoin miners about their practices and trust challenges. Findings contribute to HCI theories by extending the exploration of blockchain's characteristics relevant to trust with the competitiveness dimension underpinning the social organization of mining. We discuss the risks of collaborative mining due to centralization and dishonest administrators, and conclude with design implications highlighting the need for tools monitoring the distribution of rewards in collaborative mining, tools tracking data centers' authorization and reputation, and tools supporting the development of decentralized pools.",
author = "Irni Khairuddin and Corina Sas",
year = "2019",
month = may,
day = "4",
doi = "10.1145/3290605.3300859",
language = "English",
isbn = "9781450359702",
booktitle = "Proceedings of the 2019 CHI Conference on Human Factors in Computing Systems",
publisher = "ACM",
note = "2019 CHI Conference on Human Factors in Computing Systems, CHI '19 ; Conference date: 04-05-2019 Through 09-05-2019",
url = "https://chi2019.acm.org/",

}

RIS

TY - GEN

T1 - An Exploration of Bitcoin Mining Practices

T2 - 2019 CHI Conference on Human Factors in Computing Systems

AU - Khairuddin, Irni

AU - Sas, Corina

PY - 2019/5/4

Y1 - 2019/5/4

N2 - Bitcoin blockchain technology is a distributed ledger of nodes authorizing transactions between anonymous parties. Its key actors are miners using computational power to solve mathematical problems for validating transactions. By sharing blockchain's characteristics, mining is a decentralized, transparent and unregulated practice, less explored in HCI, so we know little about miners' motivations and experiences, and how these may impact on different dimensions of trust. This paper reports on interviews with 20 bitcoin miners about their practices and trust challenges. Findings contribute to HCI theories by extending the exploration of blockchain's characteristics relevant to trust with the competitiveness dimension underpinning the social organization of mining. We discuss the risks of collaborative mining due to centralization and dishonest administrators, and conclude with design implications highlighting the need for tools monitoring the distribution of rewards in collaborative mining, tools tracking data centers' authorization and reputation, and tools supporting the development of decentralized pools.

AB - Bitcoin blockchain technology is a distributed ledger of nodes authorizing transactions between anonymous parties. Its key actors are miners using computational power to solve mathematical problems for validating transactions. By sharing blockchain's characteristics, mining is a decentralized, transparent and unregulated practice, less explored in HCI, so we know little about miners' motivations and experiences, and how these may impact on different dimensions of trust. This paper reports on interviews with 20 bitcoin miners about their practices and trust challenges. Findings contribute to HCI theories by extending the exploration of blockchain's characteristics relevant to trust with the competitiveness dimension underpinning the social organization of mining. We discuss the risks of collaborative mining due to centralization and dishonest administrators, and conclude with design implications highlighting the need for tools monitoring the distribution of rewards in collaborative mining, tools tracking data centers' authorization and reputation, and tools supporting the development of decentralized pools.

U2 - 10.1145/3290605.3300859

DO - 10.1145/3290605.3300859

M3 - Conference contribution/Paper

SN - 9781450359702

BT - Proceedings of the 2019 CHI Conference on Human Factors in Computing Systems

PB - ACM

Y2 - 4 May 2019 through 9 May 2019

ER -