{"title":"System-Level Dependability Analysis of Bitcoin under Eclipse and 51% Attacks","authors":"Chencheng Zhou, L. Xing, Qisi Liu, Yuzhu Li","doi":"10.33889/ijmems.2023.8.4.031","DOIUrl":null,"url":null,"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.","PeriodicalId":44185,"journal":{"name":"International Journal of Mathematical Engineering and Management Sciences","volume":" ","pages":""},"PeriodicalIF":1.3000,"publicationDate":"2023-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Journal of Mathematical Engineering and Management Sciences","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.33889/ijmems.2023.8.4.031","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ENGINEERING, MULTIDISCIPLINARY","Score":null,"Total":0}
引用次数: 0
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.
期刊介绍：
IJMEMS is a peer reviewed international journal aiming on both the theoretical and practical aspects of mathematical, engineering and management sciences. The original, not-previously published, research manuscripts on topics such as the following (but not limited to) will be considered for publication: *Mathematical Sciences- applied mathematics and allied fields, operations research, mathematical statistics. *Engineering Sciences- computer science engineering, mechanical engineering, information technology engineering, civil engineering, aeronautical engineering, industrial engineering, systems engineering, reliability engineering, production engineering. *Management Sciences- engineering management, risk management, business models, supply chain management.
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