sis 18: e8

Research Article

Enhanced Bitcoin Protocol with Effective Block Creation and Verification by Trusted Miners

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  • @ARTICLE{10.4108/eai.13-7-2018.163836,
        author={R. Bala and R. Manoharan},
        title={Enhanced Bitcoin Protocol with Effective Block Creation and Verification by Trusted Miners},
        journal={EAI Endorsed Transactions on Scalable Information Systems: Online First},
        volume={},
        number={},
        publisher={EAI},
        journal_a={SIS},
        year={2020},
        month={3},
        keywords={anonymity, decentralization, Double Spending; Block withholding, 51\% Attack, transaction rate, memory pool, block},
        doi={10.4108/eai.13-7-2018.163836}
    }
    
  • R. Bala
    R. Manoharan
    Year: 2020
    Enhanced Bitcoin Protocol with Effective Block Creation and Verification by Trusted Miners
    SIS
    EAI
    DOI: 10.4108/eai.13-7-2018.163836
R. Bala1,*, R. Manoharan1
  • 1: Department of Computer Science and Engineering, Pondicherry Engineering College, Pondicherry, India
*Contact email: balasekar.bs@gmail.com

Abstract

The Distributed nature of Bitcoin introduces security issues that necessitate security-specific enhancements in Bitcoin protocol. Therefore, proposing a method of incorporating criteria check and verification process for miners to participate in the mining process and join the mining pool respectively. The proposed idea mitigates double spending, block withholding, and 51 percentage attacks. In addition, an increase in the rate of Bitcoin users necessitates performance improvement. Hence, proposing an effective approach of refining the existing block creation and verification strategy for improving transaction rate without compromising security.