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V. ISSUES IN TRADITIONAL MINING A. Doublespendingproblem Double spending as the name goes suggests is a successful spending of a money more than once. Double spending is a unique problem associated with digital currencies because the digital data can be reproduced easily unlike physical currency. Crypto currency network involves mining which is a Proof of Work (PoW) based. Users do the transactions by digitally signing their transactions over the network through a distributed time stamp service to prevent double spending of coins. In double spending, any digital currency holder can make a copy of the currency and might send it to any merchant or any other party while retaining the original. For example, a popular digital currency like Bitcoin takes an average 10 to 15 minutes for conformation of a transaction and which is why is not efficient for fast payments. But this process is essential for the detection of double spending of coins. Since all digital currency users are anonymous and hold multiple accounts, it is practically very difficult to trace out the fraudsters. This problem was acknowledged by the Bitcoin developers and suggested a mechanism such that merchants don‘t have to wait for the conformation if the transaction amount is not a huge sum. But this proposal doesn‘t remove the double spending problem of the network theoretically since Bitcoin is increasingly used in fast payments like ATM transaction, restaurant bills etc... Understanding the conditions for double spending needs a knowledge about the types of payments involved in digital currencies. Generally, two types of payments namely slow and fast payments are present. Slow Payments: Slow payments are the conventional way of transaction mechanism. Slow payments are accepted after the conformation of the transaction by the network. Since confirmed transactions are accepted by the honest peers, any malicious attempts will have negligible advantage. The study shows that 64% of the transactions in Bitcoin network are confirmed under or below 10 min whereas remaining 36% took 10-40 min time for conformation. Fast Payments: When payments are done in a quick time, they cannot operate on the basis of conformations of the transactions like supermarkets, vending machines etc...These kind of payments comes under fast payments where exchange of currency and goods are done in a shorter time. In Bitcoin transactions to enable faster payments, merchants are suggested to approve the transaction without any conformation if it‘s not of a higher value. But the measure can‘t avoid the vulnerability of the Bitcoin network. Necessary conditions for successful Double-spending: To successfully double spend the money, the attacker needs to make the vendor accept the transaction (TRv) that will not be redeemed afterwards. An attacker creates a transaction (TRa) which will have same inputs as TRv but the recipient address will be an address which under his control or any other vendor or merchant. (IJACSA) International Journal of Advanced Computer Science and Applications, Vol. 6, No. 9, 2015 The conditions which help an attacker to have a successful double-spending are: Types of attacks: Though, double-spending is theoretically possible, practically only a negligible amount of fraud is done through this mechanism. Now-a-days much of the fraud is done due to the insecurity of the wallets present at each node. B. Malware Malware, also called ransom-ware, is a hacker-controlled bot-net that directly attacks the PC or encrypts files stored in the drives. A type of such malware is ̳Trojan- Ransom.Win32.Linkup' which blocks the internet access by modifying the DNS and turning the computer into a Bitcoin mining bot at the same time. In addition to messing around with the DNS, Linkup can also link up to a remote server and pressgang the PC into service as a Bitcoin-mining bot. This is carried out via a downloader called 'pts2.exe', which extracts a second file, named 'j.exe', onto a computer. This is, in fact, a popular piece of mining software called 'jhProtominer'. The damage that is likely to be inflicted by the Trojan is limited. jhProtominer only works on 64-bit operating systems, When the transaction TRa is already confirmed in any other block, then the transaction TRv is never confirmed by the network. Race Attack: Immediate acceptance of a 0/unconfirmed transaction by the vendor or the merchant leads to race attack. The coins in the transaction showed to the merchant might have been used in different transaction that would be first to make into the block. So, the transaction done to the merchant by the attacker has high chances of getting rejected and cannot be redeemed by the merchant. Finney Attack: Finnely attack is a fraudulent double- spending which requires the participation of a miner. A miner will have to include a non-broadcasted transaction which is deceiving in his block generation to achieve double-spending. But this attack is irrelevant for a smaller amounts and will not make any profit for the risk involved in it. >50% attack: When the attacker maintains or controls more than 50% of the network hash rate then this attack is possible. So, there will be higher chances of making a false transaction getting conformed across the network. Only high profits can make an attacker to resort to such an attack but since the mining is gaining popularity day by day it becomes practically impossible now. www.ijacsa.thesai.org When the time taken by the vendor to accept the transaction TRv is less than the time taken by vendor to acknowledge the transaction TRa. Since network doesn‘t support multiple transactions that share common inputs, the transaction TRv cannot be redeemed. 119 | P a g ePDF Image | Cryptocurrency Mining Transition to Cloud
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