Academics

Mining Attacks to the Blockchain System

Published:2019-08-30 

Speaker: 肖斌 教授,香港理工大学

Time and Date: 10:00 - 11:00 am, September 5, 2019

Place: Room 530 of Scientific Building, Handan Campus,Fudan University

 

Abstract:

The blockchain technology can be extensively applied in diverse services, ranging from online micro-payment, supply chain tracking, digital forensics, health-care record sharing to insurance payment. The blockchain system needs the mining process to generate new blocks. However, mining attacks can severely ruin the system, e.g., creating double spending. In this talk, we will first review previous mining attacks, e.g., block withholding (BWH), fork after withholding (FAW), and selfish mining. Then, we will propose two new strategies: power adjusting and bribery racing, and introduce two novel mining attacks, Power Adjusting Withholding (PAW) and Bribery Selfish Mining (BSM) adopting the new strategies. Both attacks can increase the reward of attackers. Quantitative analyses and simulations are conducted to verify the effectiveness of our attacks. We propose some countermeasures to mitigate the new attacks, but a practical and efficient solution remains to be an open problem.

 

Biography:

Dr. Bin Xiao is an associate professor at Department of Computing, the Hong Kong Polytechnic University, Hong Kong. Dr. Xiao received the B.Sc and M.Sc degrees in Electronics Engineering from Fudan University, China, and Ph.D. degree in computer science from University of Texas at Dallas, USA. After his Ph.D. graduation, he joined the Department of Computing of the Hong Kong Polytechnic University as an Assistant Professor. He has been the director of the dept. mobile cloud computing lab. His research interests include blockchain, network security and data privacy. Dr. Xiao has published more than 100 technical papers in international top journals and conferences. Currently, he is the associate editor of the Journal of Parallel and Distributed Computing (JPDC). He is the symposium chair of IEEE Globecom-CISS 2017 and IEEE ICC-AHSN 2018, and the general chair of IEEE SECON 2018. He is the IEEE Senior member, CCF and ACM member.

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