Smart Contract-Based Pool Hopping Attack Prevention for Blockchain Networks
Pool hopping attack is the result of miners leaving the pool when it offers fewer financial rewards and joining back when the rewards of mining yield higher rewards in blockchain networks. This act of leaving and rejoining the pool only during the good times results in the miner receiving more rewar...
| Main Authors: | , , , , , |
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| Format: | Article |
| Language: | English |
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MDPI AG
2019-07-01
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| Series: | Symmetry |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2073-8994/11/7/941 |
| _version_ | 1817989564523872256 |
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| author | Sushil Kumar Singh Mikail Mohammed Salim Minjeong Cho Jeonghun Cha Yi Pan Jong Hyuk Park |
| author_facet | Sushil Kumar Singh Mikail Mohammed Salim Minjeong Cho Jeonghun Cha Yi Pan Jong Hyuk Park |
| author_sort | Sushil Kumar Singh |
| collection | DOAJ |
| description | Pool hopping attack is the result of miners leaving the pool when it offers fewer financial rewards and joining back when the rewards of mining yield higher rewards in blockchain networks. This act of leaving and rejoining the pool only during the good times results in the miner receiving more rewards than the computational power they contribute. Miners exiting the pool deprive it of its collective hash power, which leaves the pool unable to mine the block successfully. This results in its competitors mining the block before they can finish mining. Existing research shows pool hopping resistant measures and detection strategies; however, they do not offer any robust preventive solution to discourage miners from leaving the mining pool. To prevent pool hopping attacks, a smart contract-based pool hopping attack prevention model is proposed. The main objective of our research is maintaining the symmetrical relationship between the miners by requiring them all to continually contribute their computational power to successfully mine a block. We implement a ledger containing records of all miners, in the form of a miner certificate, which tracks the history of the miner’s earlier behavior. The certificate enables a pool manager to better initiate terms of the smart contract, which safeguards the interests of existing mining pool members. The model prevents frequent mine hoppers from pool hopping as they submit coins in the form of an escrow and risk losing them if they abandon the pool before completing mining of the block. The key critical factors that every pool hopping attack prevention solution must address and a study of comparative analysis with existing solutions are presented in the paper. |
| first_indexed | 2024-04-14T00:47:39Z |
| format | Article |
| id | doaj.art-18fc883e769541a3b5d9baec865af9f8 |
| institution | Directory Open Access Journal |
| issn | 2073-8994 |
| language | English |
| last_indexed | 2024-04-14T00:47:39Z |
| publishDate | 2019-07-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Symmetry |
| spelling | doaj.art-18fc883e769541a3b5d9baec865af9f82022-12-22T02:21:55ZengMDPI AGSymmetry2073-89942019-07-0111794110.3390/sym11070941sym11070941Smart Contract-Based Pool Hopping Attack Prevention for Blockchain NetworksSushil Kumar Singh0Mikail Mohammed Salim1Minjeong Cho2Jeonghun Cha3Yi Pan4Jong Hyuk Park5Department of Computer Science and Engineering, Seoul National University of Science and Technology (SeoulTech), Seoul 01811, KoreaDepartment of Computer Science and Engineering, Seoul National University of Science and Technology (SeoulTech), Seoul 01811, KoreaDepartment of Computer Science and Engineering, Seoul National University of Science and Technology (SeoulTech), Seoul 01811, KoreaDepartment of Computer Science and Engineering, Seoul National University of Science and Technology (SeoulTech), Seoul 01811, KoreaDepartment of Computer Science, Georgia State University, Atlanta, GA 30302-5060, USADepartment of Computer Science and Engineering, Seoul National University of Science and Technology (SeoulTech), Seoul 01811, KoreaPool hopping attack is the result of miners leaving the pool when it offers fewer financial rewards and joining back when the rewards of mining yield higher rewards in blockchain networks. This act of leaving and rejoining the pool only during the good times results in the miner receiving more rewards than the computational power they contribute. Miners exiting the pool deprive it of its collective hash power, which leaves the pool unable to mine the block successfully. This results in its competitors mining the block before they can finish mining. Existing research shows pool hopping resistant measures and detection strategies; however, they do not offer any robust preventive solution to discourage miners from leaving the mining pool. To prevent pool hopping attacks, a smart contract-based pool hopping attack prevention model is proposed. The main objective of our research is maintaining the symmetrical relationship between the miners by requiring them all to continually contribute their computational power to successfully mine a block. We implement a ledger containing records of all miners, in the form of a miner certificate, which tracks the history of the miner’s earlier behavior. The certificate enables a pool manager to better initiate terms of the smart contract, which safeguards the interests of existing mining pool members. The model prevents frequent mine hoppers from pool hopping as they submit coins in the form of an escrow and risk losing them if they abandon the pool before completing mining of the block. The key critical factors that every pool hopping attack prevention solution must address and a study of comparative analysis with existing solutions are presented in the paper.https://www.mdpi.com/2073-8994/11/7/941smart contractpool hoppingblockchainmining pool |
| spellingShingle | Sushil Kumar Singh Mikail Mohammed Salim Minjeong Cho Jeonghun Cha Yi Pan Jong Hyuk Park Smart Contract-Based Pool Hopping Attack Prevention for Blockchain Networks Symmetry smart contract pool hopping blockchain mining pool |
| title | Smart Contract-Based Pool Hopping Attack Prevention for Blockchain Networks |
| title_full | Smart Contract-Based Pool Hopping Attack Prevention for Blockchain Networks |
| title_fullStr | Smart Contract-Based Pool Hopping Attack Prevention for Blockchain Networks |
| title_full_unstemmed | Smart Contract-Based Pool Hopping Attack Prevention for Blockchain Networks |
| title_short | Smart Contract-Based Pool Hopping Attack Prevention for Blockchain Networks |
| title_sort | smart contract based pool hopping attack prevention for blockchain networks |
| topic | smart contract pool hopping blockchain mining pool |
| url | https://www.mdpi.com/2073-8994/11/7/941 |
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