Evaluating the Impact of Network Latency on the Safety of Blockchain Transactions
Author (s)
Ibrahim Shamal Abdulkhaleq & Shavan Askar
Abstract
Blockchain technology has lately become widely regarded, partially because of the surge in cryptocurrencies such as Bitcoin and their ability to be a force for economic and financial shift. While tokenomics also helped push blockchain in mainstream, this technology’s strengths are far more than crypt-monetary. Often known as distributed leader technologies, it is hypothesized that blockchain would serve like a catalyst for global disruptions and that blockchain-based applications in many industries such as the supply chain; the medical and legal fields are now being developed and implemented. By simultaneous research, we prove that the six confirms convention is vulnerable to peer-to-peer latency in the network and show just how readily PoW mining is broken. The divergences between these latest blocks open the transactions in question to the possibility that the blockchain fork will not be used. We concentrate on evaluating block detection accuracy and the breach of the six confirmed blockchain agreement.
Keywords: Blockchain, network latency, PoW, cryptocurrency, IoT.
| Title: | Evaluating the Impact of Network Latency on the Safety of Blockchain Transactions |
|---|---|
| Author: | Ibrahim Shamal Abdulkhaleq & Shavan Askar |
| Journal Name: | International Journal of Science and Business |
| Website: | ijsab.com |
| ISSN: | ISSN 2520-4750 (Online), ISSN 2521-3040 (Print) |
| DOI: | https://doi.org/10.5281/zenodo.4497512 |
| Media: | Online |
| Volume: | 5 |
| Issue: | 3 |
| Acceptance Date: | 01/02/2021 |
| Date of Publication: | 03/02/2021 |
| PDF URL: | https://ijsab.com/wp-content/uploads/687.pdf |
| Free download: | Available |
| Page: | 71-82 |
| First Page: | 71 |
| Last Page: | 82 |
| Paper Type: | Literature Review |
| Current Status: | Published |
Cite This Article:
Ibrahim Shamal Abdulkhaleq & Shavan Askar (2021). Evaluating the Impact of Network Latency on the Safety of Blockchain Transactions. International Journal of Science and Business, 5(3), 71-82. doi: https://doi.org/10.5281/zenodo.4497512
Retrieved from https://ijsab.com/wp-content/uploads/687.pdf
About Author (s)
Ibrahim Shamal Abdulkhaleq, Information System Engineering, Erbil Polytechnic University, Erbil, Iraq.
Shavan Askar (Corresponding Author), Assistant Professor, Erbil Polytechnic University, Erbil, Iraq. Email: shavan.askar@epu.edu.iq.
DOI: https://doi.org/10.5281/zenodo.4497512