Full Text Available
Note: Clicking the button above will open the full text document at the original institutional repository in a new window.
An investigation and analysis of vulnerabilities surrounding cryptocurrencies and blockchain technology
Thesis (MA)--Stellenbosch University, 2024.
Saved in:
| Main Author: | |
|---|---|
| Other Authors: | |
| Format: | Thesis |
| Language: | en_ZA |
| Published: |
Stellenbosch : Stellenbosch University
2024
|
| Subjects: | |
| Tags: |
No Tags, Be the first to tag this record!
|
| _version_ | 1867614034429214720 |
|---|---|
| access_status_str | Open Access |
| author | Heyl, Isabelle Christina |
| author2 | Blaauw, Dewald |
| author_browse | Blaauw, Dewald Heyl, Isabelle Christina |
| author_facet | Blaauw, Dewald Heyl, Isabelle Christina |
| author_sort | Heyl, Isabelle Christina |
| collection | Thesis |
| dc_rights_str_mv | Stellenbosch University |
| description | Thesis (MA)--Stellenbosch University, 2024. |
| format | Thesis |
| id | oai:scholar.sun.ac.za:10019.1/130630 |
| institution | Stellenbosch University (South Africa) |
| language | en_ZA |
| last_indexed | 2026-06-10T12:45:37.487Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from SUNScholar — Stellenbosch University Repository |
| publishDate | 2024 |
| publishDateRange | 2024 |
| publishDateSort | 2024 |
| publisher | Stellenbosch : Stellenbosch University |
| publisherStr | Stellenbosch : Stellenbosch University |
| record_format | dspace |
| source_str | SUNScholar — Stellenbosch University Repository |
| spelling | oai:scholar.sun.ac.za:10019.1/130630 An investigation and analysis of vulnerabilities surrounding cryptocurrencies and blockchain technology Heyl, Isabelle Christina Blaauw, Dewald Watson, Bruce Stellenbosch University. Faculty of Arts and Social Sciences. Dept. of Information Science. Blockchains (Databases) Cyberspace -- Security measures Cryptocurrencies UCTD Thesis (MA)--Stellenbosch University, 2024. ENGLISH SUMMARY: As individuals search for a safe and alternative payment method, the popularity of cryptocurrencies and blockchain technology continues to grow. Despite their benefits, the increasing prevalence of these technologies also exposes them to a higher risk of encountering potential threats. These threats stem from the vulnerabilities and technical limitations within, which in turn, influences its potential to be adopted across different industries. Through a quantitative approach, this paper aims to detect and mitigate the vulnerabilities and technical limitations within cryptocurrencies and blockchain. A simulated environment provides the means to study distinct parameters within a Bitcoin network, particularly in the event of a double-spending and selfish mining attack. Based on the findings, the success rate and revenue of the attacker were primary influenced by the network’s stale block rate, the attacker’s hash rate and the double-spend value. Moreover, there is a significant difference in the parameters pre- and post-attacks. It is evident that the block size has a considerable effect on the parameters in the network. As such, a single-objective problem is solved to determine what the optimal block size should be to minimize the block generation time and block delay time, seeking to reduce the overall latency and increase the throughput. It can be concluded that using the optimal block size can partially reduce the threat of double-spending attacks, but not eliminate it completely. It becomes evident that other mitigation schemes should be implemented to overcome these vulnerabilities. AFRIKAANSE OPSOMMING: Terwyl individue 'n veilige en alternatiewe betalingsmetode soek, bly die gewildheid van kripto-geldeenhede en blokketting tegnologie aanhou te groei. Ten spyte van hul voordele stel die toenemende voorkoms van hierdie tegnologiee hulle ook bloot aan 'n hoer risiko om potensiele bedreigings te ondervind. Hierdie bedreigings kom voort as gevolg van die kwesbaarhede en tegniese beperkings daarin, wat op sy beurt, die potensiaal om oor verskeie bedrywe heen aangeneem te word, te beinvloed. Deur 'n kwantitatiewe benadering, poog hierdie navorsingstuk om die kwesbaarhede en tegniese beperkings binne kripto-geldeenhede en blokketting tegnologie op te spoor. 'n Gesimuleerde omgewing word gebruik om onderskeie parameters binne 'n Bitcoin-netwerk te bestudeer, spesifiek in die geval van 'n dubbelbesteding- en selfsugtige mynaanval. Gebaseer op die bevindinge was die sukseskoers en inkomste van die aanvaller hoofsaaklik beinvloed deur die netwerk se blok-agterstand-koers, die aanvaller se hash nommer, en die waarde van die dubbelbesteding. Verder is daar 'n betekenisvolle verskil in die parameters voor en na die aanvalle. Dit is duidelik dat die blokgrootte 'n aansienlike effek op die parameters in die netwerk het. Daarom word 'n enkel-doelwitprobleem opgelos om te bepaal wat die optimale blokgrootte behoort te wees om die blok-genereringstyd en blok-vertragings-tyd te minimiseer, met die doel om die algehele latency te verminder en die deurset te verhoog. Daar kan afgelei word dat die gebruik van die optimale blokgrootte die dreiging van dubbelbesteding-aanvalle gedeeltelik kan verminder, maar nie heeltemal kan uitskakel nie. Dit word duidelik dat ander versagtingsskemas geimplementeer moet word om hierdie kwesbaarhede te oorkom. Masters 2024-01-30T10:23:36Z 2024-04-27T00:36:23Z 2024-01-30T10:23:36Z 2024-04-27T00:36:23Z 2024-03 Thesis https://scholar.sun.ac.za/handle/10019.1/130630 en_ZA Stellenbosch University xix, 157 pages : illustrations, includes annexures application/pdf Stellenbosch : Stellenbosch University |
| spellingShingle | Blockchains (Databases) Cyberspace -- Security measures Cryptocurrencies UCTD Heyl, Isabelle Christina An investigation and analysis of vulnerabilities surrounding cryptocurrencies and blockchain technology |
| title | An investigation and analysis of vulnerabilities surrounding cryptocurrencies and blockchain technology |
| title_full | An investigation and analysis of vulnerabilities surrounding cryptocurrencies and blockchain technology |
| title_fullStr | An investigation and analysis of vulnerabilities surrounding cryptocurrencies and blockchain technology |
| title_full_unstemmed | An investigation and analysis of vulnerabilities surrounding cryptocurrencies and blockchain technology |
| title_short | An investigation and analysis of vulnerabilities surrounding cryptocurrencies and blockchain technology |
| title_sort | investigation and analysis of vulnerabilities surrounding cryptocurrencies and blockchain technology |
| topic | Blockchains (Databases) Cyberspace -- Security measures Cryptocurrencies UCTD |
| url | https://scholar.sun.ac.za/handle/10019.1/130630 |
| work_keys_str_mv | AT heylisabellechristina aninvestigationandanalysisofvulnerabilitiessurroundingcryptocurrenciesandblockchaintechnology AT heylisabellechristina investigationandanalysisofvulnerabilitiessurroundingcryptocurrenciesandblockchaintechnology |