Countering Double-Spending In Next-Generation Blockchains

Abstract

In this paper, we look at the use of hash-based, one-time signatures in the context of the Blockchain systems and demonstrate how the replacement of currently utilized schemes into a one-time signature can help deter double-spending. Towards this goal, we make the following contributions. 1) We introduce a notion of double- spending deterrence, a form of malleability that does not require pre-authorization from the signer to create a signature on an arbitrary message using two previously signed messages. It is used as a penalty to deter double-spending and disincentivize forgery. 2) We study features of various one-time signature schemes, and we demonstrate their effectiveness in thwarting double-spending. 3) We explore the design space of applying our methodology to the Blockchain system with a clear example and design options to deter double-spending. The results reported in this paper are promising, and open several new directions.

Publication Date

7-27-2018

Publication Title

IEEE International Conference on Communications

Volume

2018-May

Document Type

Article; Proceedings Paper

Personal Identifier

scopus

DOI Link

https://doi.org/10.1109/ICC.2018.8423019

Socpus ID

85049167271 (Scopus)

Source API URL

https://api.elsevier.com/content/abstract/scopus_id/85049167271

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