SIMULATION MODELLING OF THE RESOURCES OF THE PARTIES TO A 51% ATTACK IN BLOCKCHAIN SYSTEMS

Authors

DOI:

https://doi.org/10.28925/2663-4023.2026.34.1331

Keywords:

digital currencies, cryptocurrency exchanges, 51% attack, low hashrate, game theory, strategies of the parties, simulation modelling

Abstract

The relevance of research into 51% attacks on blockchain systems continues to grow amid the rapid development of cryptocurrency technologies and their increasing popularity among users. As the analysis of publications on the research topic has shown, such attacks constitute one of the most serious threats to blockchain integrity, especially in systems with a low hashrate, where the risk of compromise is considerably higher. The study conducted not only confirms the severity of this problem but also provides an initial version of a software toolkit for analysing and developing effective protection strategies. The article focuses on the use of modern information systems and technologies (IST) for simulation modelling, which will make it possible to analyse the mechanisms of such attacks in greater depth. Further research envisages the creation of a more detailed computational module based on game theory, which will become part of an intelligent information system that can be integrated into the infrastructure of cryptocurrency exchanges (CEX), providing monitoring and early warning of potential 51% attacks. The use of game theory in this context makes it possible to model the behaviour of various network participants, helping to develop more reliable defensive strategies. Importantly, the application of simulation modelling provides an opportunity to investigate different attack scenarios and responses to them, which is key to forming a comprehensive approach to protecting blockchain systems, since IST makes it possible to analyse large volumes of data and anomalies that may precede attacks, thereby significantly increasing the security level of cryptocurrency exchanges. The implementation of these research directions will substantially expand the understanding of the mechanisms of 51% attacks and enable the development of more effective ways of protecting blockchain systems. This opens up a number of promising areas for further study of 51% attacks, including the improvement of consensus algorithms, the development of adaptive protection systems and the introduction of new technologies, such as artificial intelligence for automated response to threats, ultimately contributing to the creation of more resilient and secure cryptocurrency ecosystems.

Downloads

Download data is not yet available.

References

Aponte-Novoa, F. A., Orozco, A. L. S., Villanueva-Polanco, R., & Wightman, P. (2021). The 51% attack on blockchains: A mining behavior study. IEEE Access, 9, 140549–140564. https://doi.org/10.1109/ACCESS.2021.3119291

Ye, C., Li, G., Cai, H., Gu, Y., & Fukuda, A. (2018). Analysis of security in blockchain: Case study in 51%-attack detecting. In 2018 5th International Conference on Dependable Systems and Their Applications (DSA) (pp. 15–24). IEEE. https://doi.org/10.1109/DSA.2018.00015

Raju, R. S., Gurung, S., & Rai, P. (2022). An overview of 51% attack over Bitcoin network. In Contemporary issues in communication, cloud and big data analytics: Proceedings of CCB 2020 (pp. 39–55). Springer. https://doi.org/10.1007/978-981-16-4244-9_4

Hao, Y. (2022). Research of the 51% attack based on blockchain. In 2022 3rd International Conference on Computer Vision, Image and Deep Learning & International Conference on Computer Engineering and Applications (CVIDL & ICCEA) (pp. 278–283). IEEE. https://doi.org/10.1109/CVIDLICCEA56201.2022.9825149

Bastiaan, M. (2015). Preventing the 51%-attack: A stochastic analysis of two phase proof of work in Bitcoin. In Proceedings of the 22nd Twente Student Conference on IT. University of Twente.

Baruwa, Z., Bhattacherjee, S., Chandnani, S. R., & Zhu, Z. (2023). Social media perceptions of 51% attacks on proof-of-work cryptocurrencies: A natural language processing approach [Preprint]. arXiv. https://doi.org/10.48550/arXiv.2310.14307

Sethaput, V., & Innet, S. (2023). Blockchain application for central bank digital currencies (CBDC). Cluster Computing, 26(4), 2183–2197. https://doi.org/10.1007/s10586-023-03962-7

Nabilou, H. (2020). Testing the waters of the Rubicon: The European Central Bank and central bank digital currencies. Journal of Banking Regulation, 21(4), 299–314. https://doi.org/10.1057/s41261-019-00112-1

Ramos, S., Pianese, F., Leach, T., & Oliveras, E. (2021). A great disturbance in the crypto: Understanding cryptocurrency returns under attacks. Blockchain: Research and Applications, 2(3), Article 100021. https://doi.org/10.1016/j.bcra.2021.100021

Kim, S. K., Yeun, C. Y., Damiani, E., & Al-Hammadi, Y. (2019). Various perspectives in new blockchain design by using theory of inventive problem solving. In 2019 IEEE International Conference on Blockchain and Cryptocurrency (ICBC). IEEE.

Sayeed, S., & Marco-Gisbert, H. (2019). Assessing blockchain consensus and security mechanisms against the 51% attack. Applied Sciences, 9(9), Article 1788. https://doi.org/10.3390/app9091788

Taylor, K. (n.d.). What happens in 51% attacks? CoinMarketCap Academy. CoinMarketCap Academy

Rahman, A. (2019). A hybrid PoW-PoS implementation against 51% attack in cryptocurrency system [Doctoral dissertation, United International University].

Amin, M. R. (2020). 51% attacks on blockchain: A solution architecture for blockchain to secure IoT with proof of work [Bachelor’s thesis, International University of Business Agriculture and Technology].

Niranjani, V., Kamachi, P. S., Siddhaarth, S., Venkatachalam, B., & Vishal, N. (2022). Hybrid approach to minimize 51% attack in cryptocurrencies. In 2022 8th International Conference on Advanced Computing and Communication Systems (ICACCS) (Vol. 1, pp. 2100–2103). IEEE. https://doi.org/10.1109/ICACCS54159.2022.9785056

Yang, X., Chen, Y., & Chen, X. (2019). Effective scheme against 51% attack on proof-of-work blockchain with history weighted information. In 2019 IEEE International Conference on Blockchain (Blockchain) (pp. 261–265). IEEE. https://doi.org/10.1109/Blockchain.2019.00041

Lansiaux, E., Tchagaspanian, N., & Forget, J. (2022). Community impact on a cryptocurrency: Twitter comparison example between Dogecoin and Litecoin. Frontiers in Blockchain, 5, Article 829865. https://doi.org/10.3389/fbloc.2022.829865

Downloads


Abstract views: 6

Published

2026-09-24

How to Cite

Martyniuk, I., & Desiatko, A. (2026). SIMULATION MODELLING OF THE RESOURCES OF THE PARTIES TO A 51% ATTACK IN BLOCKCHAIN SYSTEMS . Electronic Professional Scientific Journal «Cybersecurity: Education, Science, Technique», 2(34), 364–372. https://doi.org/10.28925/2663-4023.2026.34.1331

Most read articles by the same author(s)

1 2 > >>