Blockchain Security: Double-Spending Attack and Prevention

<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>

Name thesis:degree_name

<-- Please Select One -->

Level thesis:degree_level

Thesis

Discipline thesis:degree_discipline

College of Science and Mathematics

Year dc:date.available

2023

Author dc:creator

• Scott, William Henry, III

Contributors dc:contributor

• Dr. Pushkar Ogale
• Dr. Christopher Ivancic
• Dr. Jianjun Zheng

• blockchain
• 51% Attack
• cryptocurrency
• double-spending
• Databases and Information Systems
• Data Storage Systems
• Digital Communications and Networking
• Information Security

Repository record dc:identifier

https://scholarworks.sfasu.edu/etds/491

OAI identifier oai:identifier

oai:scholarworks.sfasu.edu:etds-1533