Date of Award
Spring 5-6-2023
Degree Type
Thesis
Degree Name
<-- Please Select One -->
Department
College of Science and Mathematics
First Advisor
Dr. Pushkar Ogale
Second Advisor
Dr. Christopher Ivancic
Third Advisor
Dr. Jianjun Zheng
Fourth Advisor
Dr. Jonathan Mitchell
Abstract
This thesis shows that distributed consensus systems based on proof of work are vulnerable to hashrate-based double-spending attacks due to abuse of majority rule. Through building a private fork of Litecoin and executing a double-spending attack this thesis examines the mechanics and principles behind the attack. This thesis also conducts a survey of preventative measures used to deter double-spending attacks, concluding that a decentralized peer-to-peer network using proof of work is best protected by the addition of an observer system whether internal or external.
Repository Citation
Scott, William Henry III, "Blockchain Security: Double-Spending Attack and Prevention" (2023). Electronic Theses and Dissertations. 491.
https://scholarworks.sfasu.edu/etds/491
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