An analysis and examination of consensus attacks in blockchain networks

Author

Thomas R. Clark, James Madison UniversityFollow

Creative Commons License

This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.

Date of Graduation

5-13-2023

Publish

yes

Document Type

Thesis

Degree Name

Bachelor of Business Administration (BBA)

Department

Department of Computer Information Systems and Business Analytics

Advisor(s)

John Guo

Thomas Dillon

Abstract

This paper examines consensus attacks as they relate to blockchain networks. Consensus attacks are a significant threat to the security and integrity of blockchain networks, and understanding these attacks is crucial for developers and stakeholders. The primary contribution of the paper is to present blockchain and consensus attacks in a clear and accessible manner, with the aim of making these complex concepts easily understandable for a general audience. Using literature review, the paper identifies various methods to prevent consensus attacks, including multi-chain networks, proof-of-work consensus algorithms, and network auditing and monitoring. An analysis revealed that these methods for preventing consensus attacks are not mutually exclusive and can be used in conjunction with each other. Ultimately, the choice of which methods to implement depends on the specific needs and goals of the network being built. The paper concludes with a discussion of the implications of these findings for blockchain network development and security.

Recommended Citation

Clark, Thomas R., "An analysis and examination of consensus attacks in blockchain networks" (2023). Senior Honors Projects, 2020-current. 159.
https://commons.lib.jmu.edu/honors202029/159