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政大典藏 > College of Commerce > Department of Risk Management and Insurance > Proceedings > Item 140.119/112079

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/112079

Title:	A probability model for analysis of attacks on blockchain
Authors:	謝明華季延平 Hsieh, Ming Hua Chung, Ming Tao Chi, Yan Ping Jeffery
Contributors:	風管系
Keywords:	Chains;Distributed computer systems;Electronic commerce;Markov processes;Peer to peer networks;Random processes;Stochastic systems;Block-chain;Computing power;Probability modeling;Proof of work;Transaction data;Two-state;Probability
Date:	2016-12
Issue Date:	2017-08-22 16:34:45 (UTC+8)
Abstract:	In a blockchain, the longest chain, which has the greatest proof-of-work effort spent in it, represents the majority decision. To change the transaction data of a block, an attacker has to control more computing power than other honest nodes. This situation can happen if the attacker can hack into the systems of honest nodes. To analyze the probability of such event, we propose a probability model for analysis of attacks on blockchain. The model is based on the structure of a peer-to-peer network. We assume the state of each honest node follows a two-state (hacked or normal) Markov chains. A hacked node is assumed to be controlled by the attacker and its computing power belongs to the attacker. On the other hand, the computing power of a normal node belongs to the honest longest chain. We apply the model to study the probability of the majority decision is controlled by the attacker and the duration of such event. In addition, we analyze the magnitude of the loss for such event.
Relation:	Proceedings of the International Conference on Electronic Business (ICEB), 352-355
Data Type:	conference
Appears in Collections:	[Department of Risk Management and Insurance] Proceedings

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