Impact of Conflicting Transactions in Blockchain: Detecting and Mitigating Potential Attacks

TL;DR

This paper investigates how conflicting transactions can lead to security vulnerabilities in blockchain networks, modeling key attacks and proposing countermeasures that improve security and performance without extra overhead.

Contribution

It introduces a comprehensive analysis of attack vectors caused by conflicting transactions and presents effective mitigation strategies validated through implementation and evaluation.

Findings

Countermeasures reduce attack rates

Mitigation improves network performance

Strategies do not add extra overhead

Abstract

Conflicting transactions within blockchain networks not only pose performance challenges but also introduce security vulnerabilities, potentially facilitating malicious attacks. In this paper, we explore the impact of conflicting transactions on blockchain attack vectors. Through modeling and simulation, we delve into the dynamics of four pivotal attacks - block withholding, double spending, balance, and distributed denial of service (DDoS), all orchestrated using conflicting transactions. Our analysis not only focuses on the mechanisms through which these attacks exploit transaction conflicts but also underscores their potential impact on the integrity and reliability of blockchain networks. Additionally, we propose a set of countermeasures for mitigating these attacks. Through implementation and evaluation, we show their effectiveness in lowering attack rates and enhancing overall network performance seamlessly, without introducing additional overhead. Our findings emphasize the critical importance of actively managing conflicting transactions to reinforce blockchain security and performance.