Research Article
Enhanced Bitcoin Protocol with Effective Block Creation and Verification by Trusted Miners
@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}, volume={7}, number={27}, 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
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.
Copyright © 2020 R. Bala et al., licensed to EAI. This is an open access article distributed under the terms of the Creative Commons Attribution licence (http://creativecommons.org/licenses/by/3.0/), which permits unlimited use, distribution and reproduction in any medium so long as the original work is properly cited.
