Using the Randomized Solution of the Dining Philosophers Problem to Prevent the Bitcoin Majority Attack

Abstract

Bitcoin has been burgeoning since its inception and has become the most successful currency in the crypto-currency market. Despite some unexpected fluctuations in its value, Bitcoin continues to be the most used and spread crypto-currency in the world. This success is due, to some extent, to its security. This security is built over many features for different assets, such as the hashing functions for addresses, the elliptic curve digital signature (ECDSA) for transactions, the elliptic curve discreet logarithm for private keys generation, the difficulty for the block mining process, and the proof-of-work as a required condition to add new blocks to the Blockchain. Despite the embedded security features, Bitcoin is still vulnerable to the majority attack, in which a mining pool gaining most of the network hashing rate could temper with the Blockchain. This paper suggests a way to prevent this issue using the randomized solution of the dining philosophers’ problem. This approach would deny to any super-pool the ability to monopolize the mining process if it is implemented in the Bitcoin system.
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