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Erschienen in:
What Satoshi Did Not Know Kapitel lesen Erstes Kapitel lesen

2015 | OriginalPaper | Buchkapitel

Secure High-Rate Transaction Processing in Bitcoin

verfasst von : Yonatan Sompolinsky, Aviv Zohar

Erschienen in: Financial Cryptography and Data Security

Verlag: Springer Berlin Heidelberg

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Abstract

Bitcoin is a disruptive new crypto-currency based on a decentralized open-source protocol which has been gradually gaining momentum. Perhaps the most important question that will affect Bitcoin’s success, is whether or not it will be able to scale to support the high volume of transactions required from a global currency system. We investigate the implications of having a higher transaction throughput on Bitcoin’s security against double-spend attacks. We show that at high throughput, substantially weaker attackers are able to reverse payments they have made, even well after they were considered accepted by recipients. We address this security concern through the GHOST rule, a modification to the way Bitcoin nodes construct and re-organize the block chain, Bitcoin’s core distributed data-structure. GHOST has been adopted and a variant of it has been implemented as part of the Ethereum project, a second generation distributed applications platform.

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Vorheriges Kapitel Hierarchical Deterministic Bitcoin Wallets that Tolerate Key Leakage
Nächstes Kapitel Inclusive Block Chain Protocols
Anhänge
Nur mit Berechtigung zugänglich
Fußnoten
1
Hash collisions are so rare that this hash can be regarded as a unique identifier of the block.
 
2
Merely being included in a block is not sufficient to fully guarantee the irreversibility of a transaction. Transactions become increasingly less likely to be reversed as more blocks are added on top of them to the chain.
 
3
The 50 % attack owes its name to Satoshi’s result showing that the main chain is secure (after sufficient waiting periods) as long as the attacker holds less than 50 % of the computational power. We show in this paper that in fact networks with delays are more vulnerable and can be attacked with less computational power.
 
4
This essentially assumes that all computational assets held by the attacker are centralized and that blocks that it creates are transmitted instantly in its internal network.
 
5
See Theorem 54, Chap. 2 in [17] for the compatibility of these two interpretations of \(\beta \).
 
6
We are in fact interested in the subtree with the hardest combined proof-of-work, but for the sake of conciseness, we write the size of the subtree instead.
 
7
Previous work, such as [12, 16], considered simpler policies that did not take elapsed time into account.
 
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Metadaten
Titel
Secure High-Rate Transaction Processing in Bitcoin
verfasst von
Yonatan Sompolinsky
Aviv Zohar
Copyright-Jahr
2015
Verlag
Springer Berlin Heidelberg
Buch
Financial Cryptography and Data Security

Print ISBN: 978-3-662-47853-0

Electronic ISBN: 978-3-662-47854-7

Copyright-Jahr: 2015

DOI
https://doi.org/10.1007/978-3-662-47854-7_32