System-Level Dependability Analysis of Bitcoin under Eclipse and 51% Attacks-Reference-Cited by-同舟云学术

System-Level Dependability Analysis of Bitcoin under Eclipse and 51% Attacks

Published:2023-08-01 Issue:4 Volume:8 Page:547-559
ISSN:2455-7749
Container-title:International Journal of Mathematical, Engineering and Management Sciences
language:en
Short-container-title:Int. j. math. eng. manag. sci.

Author:

Zhou Chencheng¹,Xing Liudong¹,Liu Qisi²,Li Yuzhu³

Affiliation:

1. Department of Electrical and Computer Engineering, University of Massachusetts, Dartmouth, MA, USA.

2. Department of Electrical and Computer Engineering, University of Hartford, Hartford, CT, USA.

3. Department of Decision and Information Sciences, University of Massachusetts, Dartmouth, MA, USA.

Abstract

Bitcoin is an electronic cryptocurrency developed based on Blockchain technology. With its decentralized feature, it has become incredibly popular since its invention. However, the Bitcoin network suffers from 51% attacks, where if malicious attackers’ control over half of the computing power, they are able to rewrite the network. The attackers are capable of doing so by initiating the Eclipse attack first, which aims to monopolize all communications from and to a controlled Bitcoin node. In this paper, we model and analyze the dependability of the Bitcoin network subject to the Eclipse and 51% attacks. We propose a hierarchical model that encompasses a continuous-time Markov chain method for the node-level dependability analysis and a multi-valued decision diagram method for the system-level dependability analysis. Detailed case studies on Bitcoin systems with homogeneous and heterogeneous nodes are conducted to demonstrate the proposed model and investigate the impacts of several critical parameters on Bitcoin network dependability.

Publisher

Ram Arti Publishers

Subject

General Engineering,General Business, Management and Accounting,General Mathematics,General Computer Science

Reference22 articles.

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