Recipient-Oriented Transaction for Preventing Double Spending Attacks in Private Blockchain

Hyunjae Lee, Myungjae Shin, Kyeong Seon Kim, Yeongeun Kang, Joongheon Kim

Abstract: This paper presents a new approach for avoiding double-spending attacks via the concept of recipient-oriented concepts in private blockchain networks. Together with the concepts of stealth address and masternode at recipient sides, transactional privacy is assured and transaction recipients become active which receive transaction propagation unilaterally. Based on this approach, it can be shown that recipient-oriented method is suggested for preventing the double-spending attacks in this paper. In addition, the proposed method is possible to prevent double spending attacks using the verification time of the recipient and blocking time of the transaction.