International Journal of Mathematical, Engineering and Management Sciences

ISSN: 2455-7749

Dependability Analysis of Bitcoin subject to Eclipse Attacks

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

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

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

DOI https://doi.org/10.33889/IJMEMS.2021.6.2.028

Received on July 16, 2020
  ;
Accepted on September 11, 2020

Abstract

The immense potential of the blockchain technology in diverse and critical applications (e.g., financial services, cryptocurrencies, supply chains, smart contracts, and automotive industry) has led to a new challenge: the dependability modeling and analysis of the blockchain-based systems. In this paper, we model the Bitcoin, a peer-to-peer cryptocurrency system built on the blockchain technology that allows individuals to trade freely without involving banks or other intermediate agents. We analyze the dependability of the Bitcoin system subject to the Eclipse attack. A continuous-time Markov chain-based method is suggested to model the system behavior under the Eclipse attack and further quantify the dependability of the Bitcoin system. The effects of several model parameters (related to the miner’s habits in system protection, restart, and mining frequency) on the system dependability are demonstrated through numerical examples. Findings from this work may provide effective guidelines in designing a resilient and robust Bitcoin system.

Keywords- Bitcoin, Blockchain, Eclipse attack, Markov chain, Dependability analysis.

Citation

Zhou, C., Xing, L., & Liu, Q. (2021). Dependability Analysis of Bitcoin subject to Eclipse Attacks. International Journal of Mathematical, Engineering and Management Sciences, 6(2), 469-479. https://doi.org/10.33889/IJMEMS.2021.6.2.028.

Conflict of Interest

The authors confirm that there is no conflict of interest to declare for this publication.

Acknowledgements

This research did not receive any specific grant from funding agencies in the public, commercial, or not-for-profit sectors. The authors would like to thank the editor and anonymous reviewers for their comments that help improve the quality of this work.

References

Akbari, E., Wu, Q., Zhao, W., Arabnia, H.R., & Yang, M.Q. (2017). From blockchain to internet-based Voting. In 2017 International Conference on Computational Science and Computational Intelligence (CSCI) (pp. 218-221). IEEE. Las Vegas, USA.

Atzei, N., Bartoletti, M., & Cimoli, T. (2017). A survey of attacks on ethereum smart contracts (sok). In International Conference on Principles of Security and Trust (pp. 164-186). Springer, Berlin, Heidelberg.

Bag, S., Ruj, S., & Sakurai, K. (2016). Bitcoin block withholding attack: analysis and mitigation. IEEE Transactions on Information Forensics and Security, 12(8), 1967-1978.

Bahack, L. (2013). Theoretical bitcoin attacks with less than half of the computational power (draft). arXiv preprint arXiv:1312.7013.

Bamert, T., Decker, C., Wattenhofer, R., & Welten, S. (2014). Bluewallet: the secure bitcoin wallet. In International Workshop on Security and Trust Management (pp. 65-80). Springer, Cham, Switzerland.

Bastiaan, M. (2015). Preventing the 51%-attack: a stochastic analysis of two phase proof of work in Bitcoin. 22nd Twente Student Conference on IT (pp. 1-10). Enschede, the Netherlands. https://fmt.ewi.utwente.nl/media/175.pdf, Accessed in August 2020.

Ben-Sasson, E., Chiesa, A., Garman, C., Green, M., Miers, I., Tromer, E., & Virza, M. (2014). Zerocash: Decentralized anonymous payments from bitcoin. In 2014 IEEE Symposium on Security and Privacy (pp. 459-474). IEEE. San Jose, CA, USA.

Biryukov, A., & Pustogarov, I. (2015a). Bitcoin over Tor isn't a good idea. In 2015 IEEE Symposium on Security and Privacy (pp. 122-134). IEEE. San Jose, CA, USA.

Biryukov, A., & Pustogarov, I. (2015b). Proof-of-work as anonymous micropayment: rewarding a Tor relay. In International Conference on Financial Cryptography and Data Security (pp. 445-455). Springer, Berlin, Heidelberg.

Dai, H.N., Zheng, Z., & Zhang, Y. (2019). Blockchain for Internet of Things: a survey. IEEE Internet of Things Journal, 6(5), 8076-8094.

Eyal, I., & Sirer, E.G. (2014). Majority is not enough: bitcoin mining is vulnerable. In International Conference on Financial Cryptography and Data Security (pp. 436-454). Springer, Berlin, Heidelberg.

Ferrag, M.A., Derdour, M., Mukherjee, M., Derhab, A., Maglaras, L., & Janicke, H. (2018). Blockchain technologies for the internet of things: Research issues and challenges. IEEE Internet of Things Journal, 6(2), 2188-2204.

Frizzo-Barker, J., Chow-White, P.A., Adams, P.R., Mentanko, J., Ha, D., & Green, S. (2020). Blockchain as a disruptive technology for business: a systematic review. International Journal of Information Management, 51, 102029.

Garay, J., Kiayias, A., & Leonardos, N. (2017). The Bitcoin backbone protocol with chains of variable difficulty. In Annual International Cryptology Conference (pp. 291-323). Springer, Cham, Switzerland.

Gervais, A., Ritzdorf, H., Karame, G.O., & Capkun, S. (2015). Tampering with the delivery of blocks and transactions in bitcoin. In Proceedings of the 22nd ACM SIGSAC Conference on Computer and Communications Security (pp. 692-705). Denver, USA.

Göbel, J., Keeler, H.P., Krzesinski, A.E., & Taylor, P.G. (2016). Bitcoin blockchain dynamics: the selfish-mine strategy in the presence of propagation delay. Performance Evaluation, 104, 23-41.

Heilman, E., Kendler, A., Zohar, A., & Goldberg, S. (2015). Eclipse attacks on bitcoin’s peer-to-peer network. In 24th USENIX Security Symposium (pp. 129-144). Washington D.C., USA.

Joux, A. (2004). Multicollisions in iterated hash functions. Application to cascaded constructions. In Annual International Cryptology Conference (pp. 306-316). Springer, Berlin, Heidelberg.

Kang, J., Yu, R., Huang, X., Wu, M., Maharjan, S., Xie, S., & Zhang, Y. (2018). Blockchain for secure and efficient data sharing in vehicular edge computing and networks. IEEE Internet of Things Journal, 6(3), 4660-4670.

Koshy, P., Koshy, D., & McDaniel, P. (2014). An analysis of anonymity in bitcoin using p2p network traffic. In International Conference on Financial Cryptography and Data Security (pp. 469-485). Springer, Berlin, Heidelberg.

Kroll, J.A., Davey, I.C., & Felten, E.W. (2013). The economics of bitcoin mining, or bitcoin in the presence of adversaries. In Proceedings of WEIS (Vol. 2013, p. 11). Washington D.C., USA.

Liao, K., Zhao, Z., Doupé, A., & Ahn, G.J. (2016). Behind closed doors: measurement and analysis of CryptoLocker ransoms in bitcoin. In 2016 APWG Symposium on Electronic Crime Research (eCrime) (pp. 1-13). IEEE. Toronto, Canada.

Meiklejohn, S., Pomarole, M., Jordan, G., Levchenko, K., McCoy, D., Voelker, G.M., & Savage, S. (2013). A fistful of bitcoins: characterizing payments among men with no names. In Proceedings of the 2013 Conference on Internet Measurement Conference (pp. 127-140). Barcelona, Spain.

Monaco, J.V. (2015). Identifying bitcoin users by transaction behavior. In Biometric and Surveillance Technology for Human and Activity Identification XII (Vol. 9457, p. 945704). International Society for Optics and Photonics. Baltimore, United States.

Qin, R., Yuan, Y., & Wang, F.Y. (2020). Optimal block withholding strategies for blockchain mining pools. IEEE Transactions on Computational Social Systems, 7(3), 709-717, doi: 10.1109/TCSS.2020.2991097.

Reid, F., & Harrigan, M. (2013). An analysis of anonymity in the bitcoin system. In Altshuler Y., Elovici Y., Cremers A.B., Aharony N., & Pentland A. (eds) Security and Privacy in Social Networks. Springer, New York, pp. 197-223.

Rosenfeld, M. (2011). Analysis of bitcoin pooled mining reward systems. arXiv preprint arXiv:1112.4980.

Satoshi, N. (2008). Bitcoin: a peer-to-peer electronic cash system. Consulted, 1(2012), 28.

Xing, L. (2020). Reliability in internet of things: current status and future perspectives. IEEE Internet of Things Journal, 7(8), 6704-6721.

Xing, L. (2021). Cascading failures in internet of things: review and perspectives on reliability and resilience. IEEE Internet of Things Journal, 8(1), 44-64. doi: 10.1109/JIOT.2020.3018687.

Xing, L., Levitin, G., & Wang, C. (2019). Dynamic system reliability: modeling and analysis of dynamic and dependent behaviors. John Wiley & Sons.

Yang, R., Chang, X., Mišić, J., & Mišić, V.B. (2020). Assessing blockchain selfish mining in an imperfect network: honest and selfish miner views. Computers & Security, 97, 101956.

Zhang, S., & Lee, J.H. (2019). Double-spending with a sybil attack in the bitcoin decentralized network. IEEE Transactions on Industrial Informatics, 15(10), 5715-5722.

Privacy Policy| Terms & Conditions