A Strong Adaptive, Strategic Double-Spending Attack on Blockchains

Exploring Sybil and Double-Spending Risks in Blockchain Systems

“…Finney attack [17], [21], [30], [114]- [116] Accepting [115] Conceptual Gambler's ruin problem [17], [118] Inform Listening period [31] Conceptual Insert observer [31], [114] Conceptual Alerting honest nodes [31] Broadcasting…”

“…The possible countermeasure is to wait for a few more block confirmations [21], [116] before completing the transaction. The authors [115] present the logarithmic waiting time for large transactions.…”

“…To protect against vector76 attack, the node should avoid 1-confirmation transaction [49]. The countermeasures (listening period, insert observer, and alerting nodes) [31] presented for the 0-confirmations race and Finney attack [21], [116] can limit the Vector76 attack. In addition, repudiate inbound connections or define inbound connections from well-connected nodes [50].…”

Blockchain System Defensive Overview for Double-Spend and Selfish Mining Attacks: A Systematic Approach

“…Another detection strategy is proposed by Ramezan et al to detect and analyze chain activity [85]. This strategy formulates an attack on the system that observes the length of the honest chain in order to produce a counterfeit chain.…”

“…To combat double-spend attacks, methods related to increasing the number of confirmations or increasing the waiting time is the most common approaches employed in our study [74,75,[79][80][81]85]. The implementation of this method is easy compared to other methods.…”