Smart Contract-based Miner Registration and Block Validation

Abstract

Rewriting-history attacks are devastating for blockchain-based cryptocurrency systems. To deter such attacks, this paper introduces a new model utilizing a smart contract to effectively prevent such attacks from succeeding. Each node who creates a new block is required to register with the smart contract to get a voucher required for the subsequent block validation. We explain the flow of the proposed model and the algorithms of the smart contract. We have implemented this smart contract in the Solidity language and simulated on the Ethereum test network. We also present security and simulation results of the proposed model.