RESEARCH AND ANALYSIS ON SOK: NETWORK-LEVEL ATTACKS ON THE BITCOIN P2P NETWORK

Computer Engineering

A new generation of blockchain-based innovations has emerged as a result of Bitcoin's influence on the world economy and technology in the past decade. Its protocol has become one of the most important for decentralised systems and digital currencies. In particular, the P2P layer serves as a standard against which all permissionless blockchains can be measured; its solutions are frequently incorporated into the network layer of such systems. Unfortunately, the Bitcoin network protocol does not have a solid security model, which leaves it vulnerable to a variety of dangers. This layer is vulnerable to attacks that can undermine the trustworthiness of the entire system by undermining the consensus layer's reliability. The security of the Bitcoin P2P system must therefore be thoroughly understood and addressed. The primary goal of this study is to educate users and academics on the blockchain peer-to-peer network technology that underpins Bitcoin and to examine the security assaults that threaten this vital financial digital cash network. This research looks into eleven attacks that could compromise the Bitcoin blockchain peer-to-peer network and proposes potential defences against them.

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