Related papers: On Bitcoin and Red Balloons
The application of Bitcoin enables people to understand blockchain technology gradually. Bitcoin is a decentralized currency that does not rely on third-party credit institutions, and the core of Bitcoin's underlying technology is…
One of the fundamental applications for a practically useful system of money is remuneration. Information pertaining to the amount of compensation awarded to different individuals is often considered sensitive, commanding a certain degree…
A blockchain faces two fundamental challenges. It must motivate users to maintain the system while preventing a minority of these users from colluding and gaining disproportionate control. Many popular public blockchains use monetary…
Bitcoin, as a decentralized digital currency, has caused extensive research interest. There are many studies based on related protocols on Bitcoin, Bitcoin-based voting protocols also received attention in related literature. In this paper,…
Proof-of-Work (PoW) is a popular consensus protocol used by Bitcoin since its inception. PoW has the well-known flaw of assigning all the reward to the single miner (or pool) that inserts the new block. This has the consequence of making…
The security of Bitcoin protocols is deeply dependent on the incentives provided to miners, which come from a combination of block rewards and transaction fees. As Bitcoin experiences more halving events, the protocol reward converges to…
Inspired by Bitcoin, many different kinds of cryptocurrencies based on blockchain technology have turned up on the market. Due to the special structure of the blockchain, it has been deemed impossible to directly trade between traditional…
This paper presents an empirical analysis of Steemit, a key representative of the emerging incentivized social media platforms over Blockchains, to understand and evaluate the actual level of decentralization and the practical effects of…
The scientific interest in the area of Decentralized Randomness Beacon (DRB) protocols has been thriving recently. Partially that interest is due to the success of the disruptive technologies introduced by modern cryptography, such as…
Bitcoin is a digital currency and electronic payment system operating over a peer-to-peer network on the Internet. One of its most important properties is the high level of anonymity it provides for its users. The users are identified by…
Blockchain based systems allow various kinds of financial transactions to be executed in a decentralized manner. However, these systems often rely on a trusted third party (oracle) to get correct information about the real-world events,…
Recent work has demonstrated significant anonymity vulnerabilities in Bitcoin's networking stack. In particular, the current mechanism for broadcasting Bitcoin transactions allows third-party observers to link transactions to the IP…
A blockchain is a decentralized ledger where all transactions are recorded. For having a reliable blockchain and double-spending prevention, we need a decentralized consensus and agreement on a blockchain. Bitcoin uses proof-of-work (PoW).…
The Bitcoin P2P network is at the core of all communications between clients. The reachable part of this network has been explored and analyzed by numerous studies. Unreachable nodes, however, are, in most part, overlooked. Nonetheless,…
Efficient and reliable block propagation on the Bitcoin network is vital for ensuring the scalability of this peer-to-peer network. To this end, several schemes have been proposed over the last few years to speed up the block propagation,…
Airdrop is a crucial concept in tokenomics. Startups of decentralized applications (DApps) reward early supporters by airdropping newly issued tokens up to a certain amount as a free giveaway. This naturally induces greedy hackers, called…
We design and validate new block propagation protocols for the peer-to-peer (P2P) network of the Bitcoin blockchain. Despite its strong protection for security and privacy, the current Bitcoin blockchain can only support a low number of…
Privacy was one of the key points mentioned in Nakamoto's Bitcoin whitepaper, and one of the selling points of Bitcoin in its early stages. In hindsight, however, de-anonymising Bitcoin users turned out to be more feasible than expected.…
This paper investigates whether Bitcoin can be regarded as a decentralized autonomous organization (DAO), what insights it may offer for the broader DAO ecosystem, and how Bitcoin governance can be improved. First, a quantitative literature…
A proof of the security of the Bitcoin protocol is made rigorous, and simplified in certain parts. A computational model in which an adversary can delay transmission of blocks by time $\Delta$ is considered. The protocol is generalized to…