7,114 research outputs found
Detecting brute-force attacks on cryptocurrency wallets
Blockchain is a distributed ledger, which is protected against malicious
modifications by means of cryptographic tools, e.g. digital signatures and hash
functions. One of the most prominent applications of blockchains is
cryptocurrencies, such as Bitcoin. In this work, we consider a particular
attack on wallets for collecting assets in a cryptocurrency network based on
brute-force search attacks. Using Bitcoin as an example, we demonstrate that if
the attack is implemented successfully, a legitimate user is able to prove that
fact of this attack with a high probability. We also consider two options for
modification of existing cryptocurrency protocols for dealing with this type of
attacks. First, we discuss a modification that requires introducing changes in
the Bitcoin protocol and allows diminishing the motivation to attack wallets.
Second, an alternative option is the construction of special smart-contracts,
which reward the users for providing evidence of the brute-force attack. The
execution of this smart-contract can work as an automatic alarm that the
employed cryptographic mechanisms, and (particularly) hash functions, have an
evident vulnerability.Comment: 10 pages, 2 figures; published versio
Performance Analysis of Blockchain Platforms
Blockchain technologies have drawn massive attention to the world these past few years mostly because of the burst of cryptocurrencies like Bitcoin, Etherium, Ripple and many others. A Blockchain, also known as distributed ledger technology, has demonstrated huge potential in saving time and costs. This open-source technology which generates a decentralized public ledger of transactions is widely appreciated for ensuring a high level of privacy through encryption and thus sharing the transaction details only amongst the participants involved in the transactions. The Blockchain is used not only for cryptocurrency but also by various companies to meet their business ends, such as efficient management of supply chains and logistics. The rise and fall of numerous crypto-currencies based on blockchain technology have generated debate among tech-giants and regulatory bodies. There are various groups which are working on standardizing the blockchain technology. At the same time, numerous groups are actively working, developing and fine-tuning their own blockchain platforms. Platforms such as etherium, hyperledger, parity, etc. have their own pros and cons. This research is focused on the performance analysis of blockchain platforms which gives a comparative understanding of these platforms
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