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

R. Bala; R. Manoharan

doi:10.4108/eai.13-7-2018.163836

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

Authors

R. Bala Pondicherry Engineering College
R. Manoharan Pondicherry Engineering College

DOI:

https://doi.org/10.4108/eai.13-7-2018.163836

Keywords:

anonymity, decentralization, Double Spending, Block withholding, 51% Attack, transaction rate, memory pool, block

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.

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Published

19-03-2020

How to Cite

Bala R, Manoharan R. Enhanced Bitcoin Protocol with Effective Block Creation and Verification by Trusted Miners. EAI Endorsed Scal Inf Syst [Internet]. 2020 Mar. 19 [cited 2024 Nov. 13];7(27):e8. Available from: https://publications.eai.eu/index.php/sis/article/view/2111

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Issue

Vol. 7 No. 27 (2020): EAI Endorsed Transactions on Scalable Information Systems

Section

Research articles

License

This work is licensed under a Creative Commons Attribution 3.0 Unported License.

This is an open access article distributed under the terms of the CC BY-NC-SA 4.0, which permits copying, redistributing, remixing, transformation, and building upon the material in any medium so long as the original work is properly cited.