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Occupation mechanism for eliminating double-spending attacks on trusted transaction blockchain

Published: 20 July 2021 Publication History

Abstract

Using blockchain technology to build a trusted transaction foundation has become a hot topic of current research and practice. The double-spending phenomenon refers to the bifurcation of the blockchain structure. In the process of trusted transactions, the fork caused by malicious attacks will destroy the correctness, integrity, and consistency of the entire ledger, and causes serious economic losses to users. Therefore, eliminating double-spending attacks is an important issue to ensure the security of the blockchain. The current method of defending against double-spending attacks in trusted transactions mainly revolves around the Bitcoin blockchain system. In the process of researching the Nano blockchain grid project, a high-throughput trusted transaction system, we proposed a double-spending elimination solution for the system: the occupying mechanism. By using Java to reconstruct the Nano project and implement the occupying mechanism, the experimental results verify the effectiveness of the occupying mechanism, and it is superior to the Nano project's double-spending solution based on the traditional voting mechanism in terms of time performance.

References

[1]
Colin LeMahieu. Nano: A Feeless Distributed Cryptocurrency Network. https://nano.org/en/whitepaper
[2]
Wuqiang: Brief description of THE DAO event. https://bihu.com/article/1996238787
[3]
X. Yu, M. T. Shiwen, Y. Li and R. Deng Huijie, "Fair deposits against double-spending for Bitcoin transactions," 2017 IEEE Conference on Dependable and Secure Computing, Taipei, 2017, pp. 44-51.
[4]
C. Chou, Y. Lin, R. Chen, H. Chang, I. Tu and S. Liao, "Personalized Difficulty Adjustment for Countering the Double-Spending Attack in Proof-of-Work Consensus Protocols," 2018 IEEE International Conference on Internet of Things (iThings) and IEEE Green Computing and Communications (GreenCom) and IEEE Cyber, Physical and Social Computing (CPSCom) and IEEE Smart Data (SmartData), Halifax, NS, Canada, 2018, pp. 1456-1462.
[5]
H. Lee, M. Shin, K. S. Kim, Y. Kang and J. Kim, "Recipient-Oriented Transaction for Preventing Double Spending Attacks in Private Blockchain," 2018 15th Annual IEEE International Conference on Sensing, Communication, and Networking (SECON), Hong Kong, 2018, pp. 1-2.
[6]
Karame, Ghassan O., Two Bitcoins at the Price of One? DoubleSpending Attacks on Fast Payments in Bitcoin - Semantic Scholar. SemanticScholar, 1 Jan. 1970, www.semanticscholar.org/paper/TwoBitcoins-at-the-Price-of-One-Double-Spending-on-KarameAndroulaki/1345c39bea4802e20cc7e3adbc3e3287c1839c8a
[7]
K. Nicolas and Y. Wang, "A novel double spending attack countermeasure in blockchain," 2019 IEEE 10th Annual Ubiquitous Computing, Electronics & Mobile Communication Conference (UEMCON), New York City, NY, USA, 2019, pp. 0383-0388.
[8]
K. Sai and D. Tipper, "Disincentivizing Double Spend Attacks Across Interoperable Blockchains," 2019 First IEEE International Conference on Trust, Privacy and Security in Intelligent Systems and Applications (TPS-ISA), Los Angeles, CA, USA, 2019, pp. 36-45.

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  • (2024)Blockchain Technology Classification Considering Overseas Research TrendsJournal of Digital Contents Society10.9728/dcs.2024.25.7.179125:7(1791-1810)Online publication date: 31-Jul-2024

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ICBCT '21: Proceedings of the 2021 3rd International Conference on Blockchain Technology
March 2021
216 pages
ISBN:9781450389624
DOI:10.1145/3460537
Permission to make digital or hard copies of all or part of this work for personal or classroom use is granted without fee provided that copies are not made or distributed for profit or commercial advantage and that copies bear this notice and the full citation on the first page. Copyrights for components of this work owned by others than ACM must be honored. Abstracting with credit is permitted. To copy otherwise, or republish, to post on servers or to redistribute to lists, requires prior specific permission and/or a fee. Request permissions from [email protected]

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Association for Computing Machinery

New York, NY, United States

Publication History

Published: 20 July 2021

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Author Tags

  1. Block grid
  2. Blockchain
  3. Double-spending
  4. Occupation mechanism
  5. Trusted transaction

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  • Research-article
  • Research
  • Refereed limited

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  • the National Key Technologies R&D Program of China

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ICBCT '21

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  • (2024)Blockchain Technology Classification Considering Overseas Research TrendsJournal of Digital Contents Society10.9728/dcs.2024.25.7.179125:7(1791-1810)Online publication date: 31-Jul-2024

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