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Publication Detail
Modeling a Double-Spending Detection System for the Bitcoin Network
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Publication Type:Journal article
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Authors:Javarone MA, Wright CS
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Publication date:20/09/2018
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Keywords:physics.soc-ph, physics.soc-ph, cs.SI
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Author URL:
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Notes:14 pages, 4 figures, 1 table
Abstract
The Bitcoin protocol prevents the occurrence of double-spending (DS), i.e.
the utilization of the same currency unit more than once. At the same time a DS
attack, where more conflicting transactions are generated, might be performed
to defraud a user, e.g. a merchant. Therefore, in this work, we propose a model
for detecting the presence of conflicting transactions by means of an 'oracle'
that polls a subset of nodes of the Bitcoin network. We assume that the latter
has a complex structure. So, we investigate the relation between the topology
of several complex networks and the optimal amount, and distribution, of a
subset of nodes chosen by the oracle for polling. Results show that small-world
networks require to poll a smaller amount of nodes than regular networks. In
addition, in random topologies, a small number of polled nodes can make a
detection system fast and reliable even if the underlying network grows.
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