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Feasibility Analysis of Majority Attacks on Blockchains

블록체인에 있어 다수 공격에 대한 타당성 분석

  • Kim, Il-Hwan
  • Received : 2018.10.22
  • Accepted : 2018.11.03
  • Published : 2018.12.01

Abstract

In this research, 51% attack or majority attack is becoming an important security issue for proof of work based blockchains. Due to decentralized nature of blockchains, any attacks that shutdowns the network or which take control over the network is hard to prevent and assess. In this paper, different types of majority attack are summarized and the motivations behind the attacks are explained. To show the feasibility of the majority attack, we build an example mining machines that can take control over two of the public blockchains, Vertcoin and Monero.

Keywords

51% attack;Blockchain;Proof of work;Majority attack

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