Abstract:
Bitcoin has inspired a new generation of blockchain-based technologies over the past decade. Its protocol dominates cryptocurrencies and distributed networks. All permissionless blockchains often implement P2P layer solutions in their network layer. The Bitcoin network protocol is vulnerable due to its weak security model. Attacks at this level can undermine the consensus layer’s trustworthiness and the system’s credibility. Understanding and addressing Bitcoin P2P protocol security is crucial. This paper covers Bitcoin network-level attacks and protocol countermeasures. A generic network adversary model and objective-based attack taxonomy are proposed. Finally, we identify the protocol’s main weaknesses and examine how different attacks relate. Our contribution should help new and experienced researchers understand the Bitcoin P2P network and its threats and improve security modeling.
Note: Please discuss with our team before submitting this abstract to the college. This Abstract or Synopsis varies based on student project requirements.
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