Distributed Hybrid Double-Spending Attack Prevention Mechanism for Proof-of-Work and Proof-of-Stake Blockchain Consensuses

Blockchain technology is a sustainable technology that offers a high level of security for many industrial applications. Blockchain has numerous benefits, such as decentralisation, immutability and tamper-proofing. Blockchain is composed of two processes, namely, mining (the process of adding a new...

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Autores principales:	Nur Arifin Akbar, Amgad Muneer, Narmine ElHakim, Suliman Mohamed Fati
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	blockchain proof of work proof of stake consensus mechanism 51% attack double-mining attack Information technology T58.5-58.64
Acceso en línea:	https://doaj.org/article/95b1ed4e96de41e8a5117bc24c7a4f82
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id	oai:doaj.org-article:95b1ed4e96de41e8a5117bc24c7a4f82
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spelling	oai:doaj.org-article:95b1ed4e96de41e8a5117bc24c7a4f822021-11-25T17:39:53ZDistributed Hybrid Double-Spending Attack Prevention Mechanism for Proof-of-Work and Proof-of-Stake Blockchain Consensuses10.3390/fi131102851999-5903https://doaj.org/article/95b1ed4e96de41e8a5117bc24c7a4f822021-11-01T00:00:00Zhttps://www.mdpi.com/1999-5903/13/11/285https://doaj.org/toc/1999-5903Blockchain technology is a sustainable technology that offers a high level of security for many industrial applications. Blockchain has numerous benefits, such as decentralisation, immutability and tamper-proofing. Blockchain is composed of two processes, namely, mining (the process of adding a new block or transaction to the global public ledger created by the previous block) and validation (the process of validating the new block added). Several consensus protocols have been introduced to validate blockchain transactions, Proof-of-Work (PoW) and Proof-of-Stake (PoS), which are crucial to cryptocurrencies, such as Bitcoin. However, these consensus protocols are vulnerable to double-spending attacks. Amongst these attacks, the 51% attack is the most prominent because it involves forking a blockchain to conduct double spending. Many attempts have been made to solve this issue, and examples include delayed proof-of-work (PoW) and several Byzantine fault tolerance mechanisms. These attempts, however, suffer from delay issues and unsorted block sequences. This study proposes a hybrid algorithm that combines PoS and PoW mechanisms to provide a fair mining reward to the miner/validator by conducting forking to combine PoW and PoS consensuses. As demonstrated by the experimental results, the proposed algorithm can reduce the possibility of intruders performing double mining because it requires achieving 100% dominance in the network, which is impossible.Nur Arifin AkbarAmgad MuneerNarmine ElHakimSuliman Mohamed FatiMDPI AGarticleblockchainproof of workproof of stakeconsensus mechanism51% attackdouble-mining attackInformation technologyT58.5-58.64ENFuture Internet, Vol 13, Iss 285, p 285 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	blockchain proof of work proof of stake consensus mechanism 51% attack double-mining attack Information technology T58.5-58.64
spellingShingle	blockchain proof of work proof of stake consensus mechanism 51% attack double-mining attack Information technology T58.5-58.64 Nur Arifin Akbar Amgad Muneer Narmine ElHakim Suliman Mohamed Fati Distributed Hybrid Double-Spending Attack Prevention Mechanism for Proof-of-Work and Proof-of-Stake Blockchain Consensuses
description	Blockchain technology is a sustainable technology that offers a high level of security for many industrial applications. Blockchain has numerous benefits, such as decentralisation, immutability and tamper-proofing. Blockchain is composed of two processes, namely, mining (the process of adding a new block or transaction to the global public ledger created by the previous block) and validation (the process of validating the new block added). Several consensus protocols have been introduced to validate blockchain transactions, Proof-of-Work (PoW) and Proof-of-Stake (PoS), which are crucial to cryptocurrencies, such as Bitcoin. However, these consensus protocols are vulnerable to double-spending attacks. Amongst these attacks, the 51% attack is the most prominent because it involves forking a blockchain to conduct double spending. Many attempts have been made to solve this issue, and examples include delayed proof-of-work (PoW) and several Byzantine fault tolerance mechanisms. These attempts, however, suffer from delay issues and unsorted block sequences. This study proposes a hybrid algorithm that combines PoS and PoW mechanisms to provide a fair mining reward to the miner/validator by conducting forking to combine PoW and PoS consensuses. As demonstrated by the experimental results, the proposed algorithm can reduce the possibility of intruders performing double mining because it requires achieving 100% dominance in the network, which is impossible.
format	article
author	Nur Arifin Akbar Amgad Muneer Narmine ElHakim Suliman Mohamed Fati
author_facet	Nur Arifin Akbar Amgad Muneer Narmine ElHakim Suliman Mohamed Fati
author_sort	Nur Arifin Akbar
title	Distributed Hybrid Double-Spending Attack Prevention Mechanism for Proof-of-Work and Proof-of-Stake Blockchain Consensuses
title_short	Distributed Hybrid Double-Spending Attack Prevention Mechanism for Proof-of-Work and Proof-of-Stake Blockchain Consensuses
title_full	Distributed Hybrid Double-Spending Attack Prevention Mechanism for Proof-of-Work and Proof-of-Stake Blockchain Consensuses
title_fullStr	Distributed Hybrid Double-Spending Attack Prevention Mechanism for Proof-of-Work and Proof-of-Stake Blockchain Consensuses
title_full_unstemmed	Distributed Hybrid Double-Spending Attack Prevention Mechanism for Proof-of-Work and Proof-of-Stake Blockchain Consensuses
title_sort	distributed hybrid double-spending attack prevention mechanism for proof-of-work and proof-of-stake blockchain consensuses
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/95b1ed4e96de41e8a5117bc24c7a4f82
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Distributed Hybrid Double-Spending Attack Prevention Mechanism for Proof-of-Work and Proof-of-Stake Blockchain Consensuses

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