Related papers: Modeling and Verification of the Bitcoin Protocol
We prove Bitcoin is secure under temporary dishonest majority. We assume the adversary can corrupt a specific fraction of parties and also introduce crash failures, i.e., some honest participants are offline during the execution of the…
We present Bitcoin Security Tables computing the probability of success p(z,q,t) of a double spend attack by an attacker controlling a share q of the hashrate after z confirmations in time t.
Bitcoin is a digital currency designed to rely on a decentralized, trustless network of anonymous agents. Using a pseudonymous-address-linking procedure that achieves >99% sensitivity and >99% specificity, we reveal that between launch…
Blockchain technology is the first successful Bitcoin Network. It enables the ledger to become more decentralized and secure. Since it is not limited to bitcoin and controlled by third parties by government, corporations or banks, the…
Bitcoin is built on a blockchain, an immutable decentralised ledger that allows entities (users) to exchange Bitcoins in a pseudonymous manner. Bitcoins are associated with alpha-numeric addresses and are transferred via transactions. Each…
Bitcoin is the first successful decentralized global digital cash system. Its mining process requires intense computational resources, therefore its usefulness remains a disputable topic. We aim to solve three problems with Bitcoin and…
Bitcoin is the first decentralized peer-to-peer (P2P) electronic currency. It was created in November 2008 by Satoshi Nakamoto. Nakamoto released the first implementation of the protocol in an open source client software and the genesis of…
Bitcoins have recently become an increasingly popular cryptocurrency through which users trade electronically and more anonymously than via traditional electronic transfers. Bitcoin's design keeps all transactions in a public ledger. The…
In this paper, we explore the partitioning attacks on the Bitcoin network, which is shown to exhibit spatial bias, and temporal and logical diversity. Through data-driven study we highlight: 1) the centralization of Bitcoin nodes across…
Bitcoin provides freshness properties by forming a blockchain where each block is associated with its timestamp and the previous block. Due to these properties, the Bitcoin protocol is being used as a decentralized, trusted, and secure…
Open-access blockchains based on proof-of-work protocols have gained tremendous popularity for their capabilities of providing decentralized tamper-proof ledgers and platforms for data-driven autonomous organization. Nevertheless, the…
Over the past decade, the Bitcoin P2P network protocol has become a reference model for all modern cryptocurrencies. While nodes in this network are known, the connections among them are kept hidden, as it is commonly believed that this…
Recently, blockchain has been applied in various fields to secure data exchanges and storage in decentralized systems. In a blockchain application where the task of the application which makes use of the data stored in a blockchain has to…
Bitcoin is a decentralized, pseudonymous cryptocurrency that is one of the most used digital assets to date. Its unregulated nature and inherent anonymity of users have led to a dramatic increase in its use for illicit activities. This…
The dramatic adoption of Bitcoin and other cryptocurrencies in the USA has revolutionized the financial landscape and provided unprecedented investment and transaction efficiency opportunities. The prime objective of this research project…
Bitcoin is a peer-to-peer electronic payment system that has rapidly grown in popularity in recent years. Usually, the complete history of Bitcoin blockchain data must be queried to acquire variables with economic meaning. This task has…
A principal vulnerability of a proof-of-work ("PoW") blockchain is that an attacker can re-write the history of transactions by forking a previously published block and build a new chain segment containing a different sequence of…
The Bitcoin Lightning Network is a Layer 2 payment protocol that addresses Bitcoin's scalability by facilitating quick and cost effective transactions through payment channels. This research explores the feasibility of using machine…
Bitcoin as well as other cryptocurrencies are all plagued by the impact from bifurcation. Since the marginal cost of bifurcation is theoretically zero, it causes the coin holders to doubt on the existence of the coin's intrinsic value. This…
We correct the double spend race analysis given in Nakamoto's foundational Bitcoin article and give a closed-form formula for the probability of success of a double spend attack using the Regularized Incomplete Beta Function. We give a…