Bitcoin double-spending risk and countermeasures at physical retail locations

【Author】 Masteika, Saulius; Rebzdys, Eimantas; Driaunys, K. estutis; Sapkauskiene, Alfreda; Macerinskiene, Aida; Krampas, Evaldas

【Source】INTERNATIONAL JOURNAL OF INFORMATION MANAGEMENT

【影响因子】18.958

【Abstract】This research examines vulnerabilities and potential attacks using Bitcoin payment systems at physical retail locations. It also lays a theoretical and practical foundation for effective countermeasures that ensure the integrity of decentralized transactions and bolster the confidence of both merchants and customers. The study focuses on potential double-spend attacks, particularly in the context of instant payments made via non-custodial crypto wallets. It also evaluates alternatives for instant crypto payments that use alternative coins and secondlayer blockchain solutions. Research has indicated that Eclipse, Sybil, Majority, Race, and Finney attacks carry a relatively low risk, especially when payment amounts are limited. The paper identifies Replace-By-Fee attacks as the most significant threat and presents a set of countermeasures. These findings are of great importance to cryptocurrency experts, payment tech researchers, retail enterprises, and stakeholders using noncustodial wallets while exploring decentralized blockchain aspects.

【Keywords】Bitcoin; Instant payments; Zero-confirmation; Lightning network; Non-custodial wallets

【发表时间】2024 DEC

【收录时间】2024-09-18

【文献类型】案例研究

【主题类别】

区块链治理-市场治理-数字货币安全