Computational experimental evaluation of the time variance of cryptocurrency mining using cryptographic hash functions

Abstract

When trading cryptocurrencies, mining is the process of searching for a solution to a computationally difficult problem. Due to the nature of the search, the time required for mining is subject to fluctuations. This is undesirable from the standpoint of security. In order to reduce the variance of mining time, we implemented the multiple concatenation mining method proposed in existing research and evaluated its performance. Although the results differ from theoretical values, the effect of small variance was confirmed.