Valid and Invalid Bitcoin Transactions

Amanzholova Saule Toksanovna, Nurbek Tastan, Kamila Kalkamanova, Amina Yessenalina

2020

Closed access Metadata (CSL-JSON)
DOI 10.1145/3410352.3410736
Data confidence 70 medium
How this score is calculated

It is built from checkable properties of the record itself: whether the article has a DOI, how many independent sources confirmed its data, whether the required fields are filled in, and how recent the latest confirmation is. Disagreement between sources and a missing identifier lower it. A value of 80 or above means the record was published without further checking; 60 to 79 means it is published at reduced confidence, with a manual check advisable. A record verified by an editor by hand is never pushed below 90 by a recalculation. This scores our data about the article, not the article itself.

Abstract

In this paper, we describe valid and invalid bitcoin transactions. Bitcoin is one of the most widespread currencies in the network, which can be used to perform purchases and transactions among nodes. Because of its digital feature, it can undergo some problems and attacks such as double spending (DS), Denial of Service(DoS), packet sniffing and so on. One of the most common challenges is double spending. DS implies spending a balance of given cryptocurrency more than once, viably making a difference between the spending record and the sum of available cryptocurrency. It is suggested that it can be prevented by including Timestamp server, which adds precise time data that is never repetitive. In this paper, the given solution was implemented using Java platform. The experiment results show the progress in preventing DS of bitcoin as soon as we connected the TSA server.