Enhanced Bitcoin Protocol with Effective Block Creation and Verification by Trusted Miners

Bala, R. and Manoharan, R. (2020) Enhanced Bitcoin Protocol with Effective Block Creation and Verification by Trusted Miners. EAI Endorsed Transactions on Scalable Information Systems, 7 (27): e8. ISSN 2032-9407

[img]
Preview
Text
eai.13-7-2018.163836.pdf - Published Version
Available under License Creative Commons Attribution No Derivatives.

Download (3MB) | Preview

Abstract

The Distributed nature of Bitcoin introduces security issues that necessitate security-specific enhancements in Bitcoin protocol. Therefore, proposing a method of incorporating criteria check and verification process for miners to participate in the mining process and join the mining pool respectively. The proposed idea mitigates double spending, block withholding, and 51 percentage attacks. In addition, an increase in the rate of Bitcoin users necessitates performance improvement. Hence, proposing an effective approach of refining the existing block creation and verification strategy for improving transaction rate without compromising security.

Item Type: Article
Uncontrolled Keywords: anonymity, decentralization, Double Spending; Block withholding, 51% Attack, transaction rate, memory pool, block
Subjects: Q Science > QA Mathematics > QA75 Electronic computers. Computer science
QA75 Electronic computers. Computer science
Depositing User: EAI Editor II.
Date Deposited: 22 Oct 2020 12:32
Last Modified: 22 Oct 2020 12:32
URI: https://eprints.eudl.eu/id/eprint/728

Actions (login required)

View Item View Item