Babur, Sohail Mahmood and Khan, Shafiq Ur Rehman and Yang, Jing and Chen, Yen-Lin and Ku, Chin Soon and Por, Lip Yee (2024) Preventing 51% Attack by Using Consecutive Block Limits in Bitcoin. IEEE Access, 12. pp. 77852-77869. ISSN 2169-3536, DOI https://doi.org/10.1109/ACCESS.2024.3407521.
Full text not available from this repository.Abstract
In permissionless blockchain systems, Proof of Work (PoW) is utilized to address the issues of double-spending and transaction starvation. When an attacker acquires more than 50% of the hash power of the entire network, they gain the ability to engage in double-spending activities, posing a significant threat to the PoW consensus algorithm. This research focuses on the consensus algorithm employed in the Bitcoin system, explaining how it operates and the security challenges it faces. The proposed modification to the PoW algorithm imposes a restriction on miners: they are not allowed to accept consecutive blocks from the same miner into the final local blockchain to prevent the 51% attack problem. This modification supports transactions that require six confirmations. In the event an attacker attempts a 51% attack with a private chain that consists of fewer than 6 blocks, it becomes easier to detect a double-spending attack before accepting the attacker's private chain. The modified algorithm introduces a ``Safe Mode Detection Algorithm'' that scrutinizes incoming blocks for adjustments at the top of the local blockchain. If inconsistencies are identified, the consensus algorithm proceeds cautiously by comparing the UTXO dictionaries from the attacker's chain with those from the miner's own blockchain. This meticulous comparison aims to detect instances of double-spending. If such instances are detected, the miner rejects the attacker's chain, establishing a double-spend-free environment and thwarting 51% attacks.
| Item Type: | Article |
|---|---|
| Funders: | National Science and Technology Council in Taiwan |
| Uncontrolled Keywords: | Bitcoin; Blockchains; Proof of Work; Consensus algorithm; Distributed ledger; Peer-to-peer computing; Computer science; 51% attack; bitcoin and consensus; blockchain; double spending; proof of work (PoW) |
| Subjects: | Q Science > QA Mathematics > QA75 Electronic computers. Computer science |
| Divisions: | Faculty of Computer Science & Information Technology |
| Depositing User: | Ms. Juhaida Abd Rahim |
| Date Deposited: | 13 Nov 2024 02:27 |
| Last Modified: | 13 Nov 2024 02:27 |
| URI: | http://eprints.um.edu.my/id/eprint/45839 |
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