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Distributed Hybrid Double-Spending Attack Prevention Mechanism for Proof-of-Work and Proof-of-Stake Blockchain Consensuses

Author

Listed:
  • Nur Arifin Akbar

    (Research Department, Idenitive Mashable Prototyping, Banyumas 53124, Indonesia)

  • Amgad Muneer

    (Department of Computer and Information Sciences, Universiti Teknologi PETRONAS, Seri Iskandar 32160, Malaysia)

  • Narmine ElHakim

    (College of Computer and Information Sciences, Prince Sultan University, Riyadh 11586, Saudi Arabia)

  • Suliman Mohamed Fati

    (College of Computer and Information Sciences, Prince Sultan University, Riyadh 11586, Saudi Arabia)

Abstract

Blockchain technology is a sustainable technology that offers a high level of security for many industrial applications. Blockchain has numerous benefits, such as decentralisation, immutability and tamper-proofing. Blockchain is composed of two processes, namely, mining (the process of adding a new block or transaction to the global public ledger created by the previous block) and validation (the process of validating the new block added). Several consensus protocols have been introduced to validate blockchain transactions, Proof-of-Work (PoW) and Proof-of-Stake (PoS), which are crucial to cryptocurrencies, such as Bitcoin. However, these consensus protocols are vulnerable to double-spending attacks. Amongst these attacks, the 51% attack is the most prominent because it involves forking a blockchain to conduct double spending. Many attempts have been made to solve this issue, and examples include delayed proof-of-work (PoW) and several Byzantine fault tolerance mechanisms. These attempts, however, suffer from delay issues and unsorted block sequences. This study proposes a hybrid algorithm that combines PoS and PoW mechanisms to provide a fair mining reward to the miner/validator by conducting forking to combine PoW and PoS consensuses. As demonstrated by the experimental results, the proposed algorithm can reduce the possibility of intruders performing double mining because it requires achieving 100% dominance in the network, which is impossible.

Suggested Citation

  • Nur Arifin Akbar & Amgad Muneer & Narmine ElHakim & Suliman Mohamed Fati, 2021. "Distributed Hybrid Double-Spending Attack Prevention Mechanism for Proof-of-Work and Proof-of-Stake Blockchain Consensuses," Future Internet, MDPI, vol. 13(11), pages 1-20, November.
    • Handle: RePEc:gam:jftint:v:13:y:2021:i:11:p:285-:d:677423
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    References listed on IDEAS

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    1. Pilkington Marc, 2016. "Blockchain Technology: Principles and Applications," Post-Print halshs-01231205, HAL.
    2. Andoni, Merlinda & Robu, Valentin & Flynn, David & Abram, Simone & Geach, Dale & Jenkins, David & McCallum, Peter & Peacock, Andrew, 2019. "Blockchain technology in the energy sector: A systematic review of challenges and opportunities," Renewable and Sustainable Energy Reviews, Elsevier, vol. 100(C), pages 143-174.
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    Cited by:

    1. Ammar AL-Ashmori & P. D. D. Dominic & Narinderjit Singh Sawaran Singh, 2022. "Items and Constructs of Blockchain Adoption in Software Development Industry: Experts Perspective," Sustainability, MDPI, vol. 14(16), pages 1-18, August.

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