Related papers: Modelling Bitcoin in Agda
In a blockchain system, nodes regularly distribute data to other nodes. The ideal perspective taken in the scientific literature is that data is broadcast to all nodes directly, while in practice data is distributed by repeated multicast.…
Our contributions with this paper are twofold. First, we elucidate the methodological requirements for a risk framework of custodial operations and argue for the value of this type of risk model as complementary with cryptographic and…
The possibility to analyze everyday monetary transactions is limited by the scarcity of available data, as this kind of information is usually considered highly sensitive. Present econophysics models are usually employed on presumed random…
The blockchain concept forms the backbone of a new wave technology that promises to be deployed extensively in a wide variety of industrial and societal applications. Governments, financial institutions, banks, industrial supply chains,…
Proof of work blockchain protocols using multiple hash types are considered. It is proven that the security region of such a protocol cannot be the AND of a 51\% attack on all the hash types. Nevertheless, a protocol called Merged Bitcoin…
Peer-to-peer trading and the move to decentralized grids have reshaped the energy markets in the United States. Notwithstanding, such developments lead to new challenges, mainly regarding the safety and authenticity of energy trade. This…
We model financial transactions as random walks on activity-driven temporal networks. By enforcing fund conservation, our framework analytically derives heavy-tailed distributions for the stationary balances and transaction sizes.…
Cryptocurrency blockchains, beyond their primary role as distributed payment systems, are increasingly used to store and share arbitrary content, such as text messages and files. Although often non-financial, this hidden content can impact…
This paper surveys innovative protocols that enhance the programming functionality of the Bitcoin blockchain, a key part of the "Bitcoin Ecosystem." Bitcoin utilizes the Unspent Transaction Output (UTXO) model and a stack-based script…
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…
In the past decade, blockchain has emerged as a promising solution for building secure distributed ledgers and has attracted significant attention. However, current blockchain systems suffer from limited throughput, poor scalability, and…
A key component of blockchain technology is the ledger, viz., a database that, unlike standard databases, keeps in memory the complete history of past transactions as in a notarial archive for the benefit of any future test. In…
We introduce blockchains and distributed ledgers and describe their potential applications to money and banking. The analysis compares public and private ledgers and outlines the suitability of various types of ledgers for different…
Blockchain-based cryptocurrencies prioritize transactions based on their fees, creating a unique kind of fee market. Empirically, this market has failed to yield stable equilibria with predictable prices for desired levels of service. We…
Blockchain technology enables the execution of collaborative business processes involving untrusted parties without requiring a central authority. Specifically, a process model comprising tasks performed by multiple parties can be…
With the proliferation of new blockchain-based cryptocurrencies/assets and platforms that make it possible to transact across them, it becomes important to consider not just whether the transfer of coins/assets can be tracked within their…
Blockchain also known as a distributed ledger technology stores different transactions/operations in a chain of blocks in a distributed manner without needing a trusted third-party. Blockchain is proven to be immutable which helps for…
Annotating blockchains with auxiliary data is useful for many applications. For example, e-crime investigations of illegal Tor hidden services, such as Silk Road, often involve linking Bitcoin addresses, from which money is sent or…
A popular method in practice offloads computation and storage in blockchains by relying on committing only hashes of off-chain data into the blockchain. This mechanism is acknowledged to be vulnerable to a stalling attack: the blocks…
State government operations comprise a large number of transactions for different processes that must be carried out across the state. This comprises new projects, maintenance and repairs, public employee compensation, and agricultural…