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Title: Double-spend Attack Models with Time Advantange for Bitcoin
Authors: Pinzón, Carlos
Rocha Niño, Hernán Camilo
Keywords: Transacciones digitales
Firma digital
Seguridad informática
Issue Date: 2016
Abstract: Bitcoin is a digital currency in which the need for a trusted third party is voided. Instead, this digital currency is based on the concept of ‘proof of work’ allowing users to execute payments by digitally signing their transactions. Since electronic files can be duplicated, fraudulent transactions in the form of double-spend attacks – where users spend the same money at least twice – can happen. This paper is about attack models that can assign possible time advantage to attacker agents in the Bitcoin network. In particular, this paper presents: (i) two attack models in which partial advancement towards block production can be influenced by time and not only by the hashpower used to produce blocks of hashes, and (ii) algorithmic experimentation comparing these models against existing well-known hashrate-based attack models that do not consider time advantage. As a conclusion, this paper presents evidence on the fact that advantages are not negligible for cases in which an attacker has had enough time for secretely mining fraudulent blocks. Also, the models presented in this paper help in contrasting some previous claims about analyzing and detecting double-spend attacks in Bitcoin.
Appears in Collections:IF - Working papers

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Autorización.pdfAutorización de Publicación en Repositorio Institucional de la Escuela 1.41 MBAdobe PDFView/Open
IF-Reporte técnico-1020778785.pdfDouble-spend Attack Models with Time Advantange for Bitcoin.pdf370.55 kBAdobe PDFView/Open

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