This thesis shows that distributed consensus systems based on proof of work are vulnerable to hashrate-based double-spending attacks due to abuse of majority rule. Through building a private fork of Litecoin and executing a double-spending attack this thesis examines the mechanics and principles behind the attack. This thesis also conducts a survey of preventative measures used to deter double-spending attacks, concluding that a decentralized peer-to-peer network using proof of work is best protected by the addition of an observer system whether internal or external.
","abstract_html":"<p>This thesis shows that distributed consensus systems based on proof of work are vulnerable to hashrate-based double-spending attacks due to abuse of majority rule. Through building a private fork of Litecoin and executing a double-spending attack this thesis examines the mechanics and principles behind the attack. This thesis also conducts a survey of preventative measures used to deter double-spending attacks, concluding that a decentralized peer-to-peer network using proof of work is best protected by the addition of an observer system whether internal or external. </p>","abstract_has_math":false,"creators":["Scott, William Henry, III"],"institution":null,"degree_name":"<-- Please Select One -->","degree_level":"Thesis","degree_discipline":"College of Science and Mathematics","degree_department":null,"school":null,"contributors":["Dr. Pushkar Ogale","Dr. Christopher Ivancic","Dr. Jianjun Zheng"],"advisors":[],"committee_chairs":[],"committee_members":[],"year":2023,"date_issued":"2023-05-06T07:00:00Z","date_published":"2023-05-06T07:00:00Z","updated_at":"2026-07-24T04:30:37Z","subjects":["blockchain","51% Attack","cryptocurrency","double-spending","Databases and Information Systems","Data Storage Systems","Digital Communications and Networking","Information Security"],"languages":[],"rights":[],"rights_urls":[],"identifier_entries":[]},"links":{"outbound_url":"https://scholarworks.sfasu.edu/etds/491","outbound_label":"Repository record","outbound_source":"dc:identifier"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:contributor","label":"Contributor","values":["Dr. Pushkar Ogale","Dr. Christopher Ivancic","Dr. Jianjun Zheng"]},{"key":"dc:creator","label":"Author","values":["Scott, William Henry, III"]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date.available","label":"Dc Date Available","values":["2023-05-05T07:00:00Z"]},{"key":"thesis:degree_discipline","label":"Discipline","values":["College of Science and Mathematics"]},{"key":"thesis:degree_level","label":"Degree Level","values":["Thesis"]},{"key":"thesis:degree_name","label":"Degree Name","values":["<-- Please Select One -->"]}]},{"id":"subjects_keywords","label":"Subjects and Keywords","entries":[{"key":"dc:subject","label":"Dc Subject","values":["blockchain","51% Attack","cryptocurrency","double-spending","Databases and Information Systems","Data Storage Systems","Digital Communications and Networking","Information Security"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier","label":"Identifier","values":["https://scholarworks.sfasu.edu/etds/491"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description.abstract","label":"Abstract","values":["This thesis shows that distributed consensus systems based on proof of work are vulnerable to hashrate-based double-spending attacks due to abuse of majority rule. Through building a private fork of Litecoin and executing a double-spending attack this thesis examines the mechanics and principles behind the attack. This thesis also conducts a survey of preventative measures used to deter double-spending attacks, concluding that a decentralized peer-to-peer network using proof of work is best protected by the addition of an observer system whether internal or external.
"]},{"key":"dc:title","label":"Title","values":["Blockchain Security: Double-Spending Attack and Prevention"]}]}],"canonical_facts":{"dc:contributor":["Dr. Pushkar Ogale","Dr. Christopher Ivancic","Dr. Jianjun Zheng"],"dc:creator":["Scott, William Henry, III"],"dc:date.available":["2023-05-05T07:00:00Z"],"dc:description.abstract":["This thesis shows that distributed consensus systems based on proof of work are vulnerable to hashrate-based double-spending attacks due to abuse of majority rule. Through building a private fork of Litecoin and executing a double-spending attack this thesis examines the mechanics and principles behind the attack. This thesis also conducts a survey of preventative measures used to deter double-spending attacks, concluding that a decentralized peer-to-peer network using proof of work is best protected by the addition of an observer system whether internal or external.
"],"dc:identifier":["https://scholarworks.sfasu.edu/etds/491"],"dc:subject":["blockchain","51% Attack","cryptocurrency","double-spending","Databases and Information Systems","Data Storage Systems","Digital Communications and Networking","Information Security"],"dc:title":["Blockchain Security: Double-Spending Attack and Prevention"],"thesis:degree_discipline":["College of Science and Mathematics"],"thesis:degree_level":["Thesis"],"thesis:degree_name":["<-- Please Select One -->"]},"updated_at":"2026-07-24T04:30:37Z"}