Discovering the Bitcoin Double Spend using Lost Agreement Amount
A. Murugan1, J. Vijayalakshmi2
1Dr. A. Murugan*, Associate Professor & Head, PG & ResearchDepartment of Computer Science,Dr. Ambedkar Government Arts College (Autonomous),Affiliated to University of Madras, Chennai, India.
2J. Vijayalakshmi, Research Scholar, PG &Research Department of Computer Science, Dr. Ambedkar Government Arts College (Autonomous),Affiliated toUniversity of Madras, Chennai, India.
Manuscript received on 03 August 2019. | Revised Manuscript received on 09 August 2019. | Manuscript published on 30 September 2019. | PP: 3764-3770 | Volume-8 Issue-3 September 2019 | Retrieval Number: C5351098319/2019©BEIESP | DOI: 10.35940/ijrte.C5351.098319
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: In the modernized world like digital world, traditional way of payments through banks and other third parties are out of sphere. To meet the digital competency digital token like bitcoin based crypto currency payment is required. Lots of business persons are moving towards the digital way of secure payment. Intruders like hackers hamper the digital token and make immortality in the transaction which in turn create the double spend. Double spend is a serious threat in the Bitcoin network. Our research work focuses on double spend detection of transaction before it gets confirmed and added to the block by the miners. The proposed new architecture for detecting double spend using Dual Payout based on Lost Agreement Amount (DPL2A) will identify one of the ways that double spend attack occur before it is added to the blockchain. This architecture gives the clear identification of double spend attack and their full details of transaction occurrence so that when it is broadcasted into the peer-to-peer network, the network nodes will use this architecture to detect double spend, its occurrence is fully prevented and only the genuine transaction will be added to the blockchain.
Keywords: Bitcoin, Double Spend Attack, Blockchain, UTXO, Mining
Scope of the Article: Service Level Agreements