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Bitcoin is the first implementation of what has become known as a 'public permissionless' blockchain. Guaranteeing security and protocol conformity through its elegant combination of cryptographic assurances and game theoretic economic…
Blockchains use peer-to-peer networks for disseminating information among peers, but these networks currently do not have any provable guarantees for desirable properties such as Byzantine fault tolerance, good connectivity and small…
Different versions of peer-to-peer electronic cash exist as data represented by separate blockchains. Payments between such systems cannot be sent directly from one party to another without going through a financial institution. Bitcoin…
Bitcoin is the most successful cryptocurrency so far. This is mainly due to its novel consensus algorithm, which is based on proof-of-work combined with a cryptographically-protected data structure and a rewarding scheme that incentivizes…
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…
Since the introduction of the first Bitcoin blockchain in 2008, different decentralized blockchain systems such as Ethereum, Hyperledger Fabric, and Corda, have emerged with public and private accessibility. It has been widely acknowledged…
A hard-fork reconfiguration of the peer to peer Bitcoin network is described that substitutes tamper-evident logs and proof-of-stake consensus for proof-of-work consensus. The block creation rewards and transaction fees are reallocated to…
As an append-only distributed database, blockchain is utilized in a vast variety of applications including the cryptocurrency and Internet-of-Things (IoT). The existing blockchain solutions show downsides in communication and storage…
Edge computing brings computation near end users, enabling the provisioning of novel use cases. To satisfy end-user requirements, the concept of edge federation has recently emerged as a key mechanism for dynamic resources and services…
We present Union, a trust-minimized bridge protocol that enables secure transfer of BTC between Bitcoin and a secondary blockchain. The growing ecosystem of blockchain systems built around Bitcoin has created a pressing need for secure and…
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…
Blockchain technology enforces the security, robustness, and traceability of operations of Process-Aware Information Systems (PAISs). In particular, transparency ensures that all data is publicly available, fostering trust among…
Bitcoin demonstrated the possibility of a financial ledger that operates without the need for a trusted central authority. However, concerns persist regarding its security and considerable energy consumption. We assess the consensus…
Blockchains such as Bitcoin and Ethereum execute payment transactions securely, but their performance is limited by the need for global consensus. Payment networks overcome this limitation through off-chain transactions. Instead of writing…
Blockchains provide environments where parties can interact transparently and securely peer-to-peer without needing a trusted third party. Parties can trust the integrity and correctness of transactions and the verifiable execution of…
As an append-only distributed database, blockchain is utilized in a vast variety of applications including the cryptocurrency and Internet-of-Things (IoT). The existing blockchain solutions have downsides in communication and storage…
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…
The Bitcoin system only provides eventual consistency. For everyday life, the time to confirm a Bitcoin transaction is prohibitively slow. In this paper we propose a new system, built on the Bitcoin blockchain, which enables strong…
The registration, transfer, clearing and settlement of equities represents a significant part of economic activity currently underserved by modern technological innovation. In addition, recent events have revealed problems of transparency,…
A cryptocurrency is a decentralized digital currency that is designed for secure and private asset transfer and storage. As a currency, it should be difficult to counterfeit and double-spend. In this paper, we review and analyze the major…