Related papers: Bitcoin Beacon
Smart contracts are stateful programs deployed on blockchains; they secure over a trillion dollars in transaction value per year. High-stakes smart contracts often rely on timely alerts about external events, but prior work has not analyzed…
TrueBit is a protocol that uses interactive verification to allow a resource-constrained computation environment like a blockchain to perform much larger computations than usual in a trusted way. As long as a single honest participant is…
Blockchain protocols come with a variety of security guarantees. For example, BFT-inspired protocols such as Algorand tend to be secure in the partially synchronous setting, while longest chain protocols like Bitcoin will normally require…
The famous new money Bitcoin is classified as a technical informational money (TIM). Besides introducing the idea of a TIM, a more extreme notion of informational money will be developed: exclusively informational money (EXIM). The…
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…
Recently, the blockchain technique was put in the spotlight as it introduced a systematic approach for multiple parties to reach consensus without needing trust. However, the application of this technique in practice is severely restricted…
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…
Bitcoin is a decentralised digital currency that relies on cryptography rather than trusted third parties such as central banks for its security. Underpinning the operation of the currency is a peer-to-peer (P2P) network that facilitates…
Proof-of-Stake blockchains based on a longest-chain consensus protocol are an attractive energy-friendly alternative to the Proof-of-Work paradigm. However, formal barriers to "getting the incentives right" were recently discovered, driven…
We show Bitcoin implied volatility on a 5 minute time horizon is modestly predictable from price, volatility momentum and alternative data including sentiment and engagement. Lagged Bitcoin index price and volatility movements contribute to…
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…
In blockchain systems, especially cryptographic currencies such as Bitcoin, the double-spending and Byzantine-general-like problem are solved by reaching consensus protocols among all nodes. The state-of-the-art protocols include…
This paper investigates whether Bittensor can be considered the Bitcoin of decentralized Artificial Intelligence by directly comparing its tokenomics, decentralization properties, consensus mechanism, and incentive structure against those…
Authorization is challenging in distributed systems that cannot rely on the identification of nodes. Proof-of-work offers an alternative gate-keeping mechanism, but its probabilistic nature is incompatible with conventional security…
We study the setting in which the bits of an unknown infinite binary sequence x are revealed sequentially to an observer. We show that very limited assumptions about x allow one to make successful predictions about unseen bits of x. First,…
There is growing interest in providing programmatic access to the value locked in Bitcoin, which famously offers limited programmability itself. Various approaches have been put forth in recent years, with the vast majority of proposed…
Bitcoin and other cryptocurrencies have surged in popularity over the last decade. Although Bitcoin does not claim to provide anonymity for its users, it enjoys a public perception of being a `privacy-preserving' financial system. In…
Currently, there are no convincing proxies for the fundamentals of cryptocurrency assets. We propose a new market-to-fundamental ratio, the price-to-utility (PU) ratio, utilizing unique blockchain accounting methods. We then proxy various…
We present a new form of randomness, called Deep Randomness, generated in such a way that probability distribution of the output signal is made unknowledgeable for an observer. By limiting, thanks to Deep Randomness, the capacity of the…
We focus on the problem of botnet orchestration and discuss how attackers can leverage decentralised technologies to dynamically control botnets with the goal of having botnets that are resilient against hostile takeovers. We cover critical…