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In recent years a new type of tradable assets appeared, generically known as cryptocurrencies. Among them, the most widespread is Bitcoin. Given its novelty, this paper investigates some statistical properties of the Bitcoin market. This…
Mining in proof-of-work blockchains has become an expensive affair requiring specialized hardware capable of executing several megahashes per second at huge electricity costs. Miners earn a reward each time they mine a block within the…
Bitcoin and other similar digital currencies on blockchains are not ideal means for payment, because their prices tend to go up in the long term (thus people are incentivized to hoard those currencies), and to fluctuate widely in the short…
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…
Distributed Ledger Technologies (DLTs), when managed by a few trusted validators, require most but not all of the machinery available in public DLTs. In this work, we explore one possible way to profit from this state of affairs. We devise…
Envisioned to be the future of secured distributed systems, blockchain networks have received increasing attention from both the industry and academia in recent years. However, blockchain mining processes demand high hardware costs and…
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…
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.
In this paper, we explore some stylized facts of the Bitcoin market using the BTC-USD exchange rate time series of historical intraday data from 2013 to 2020. Bitcoin presents some very peculiar idiosyncrasies, like the absence of…
In today's programmable blockchains, smart contracts are limited to being deterministic and non-probabilistic. This lack of randomness is a consequential limitation, given that a wide variety of real-world financial contracts, such as…
Threshold cryptography is essential for many blockchain protocols. For example, many protocols rely on threshold common coin to implement asynchronous consensus, leader elections, and provide support for randomized applications. Similarly,…
The Herman Protocol Conjecture states that the expected time $\mathbb{E}(\mathbf{T})$ of Herman's self-stabilizing algorithm in a system consisting of $N$ identical processes organized in a ring holding several tokens is at most…
An effective method for suppressing intentional forks in a blockchain is the last-generated rule, which selects the most recent chain as the main chain in the event of a chain tie. This rule helps invalidate blocks that are withheld by…
While previous researchers have performed an exhaustive search to determine an optimal Wordle strategy, that computation is very time consuming and produced a strategy using words that are unfamiliar to most people. With Wordle solutions…
With the rapid growth of image and video data on the web, hashing has been extensively studied for image or video search in recent years. Benefit from recent advances in deep learning, deep hashing methods have achieved promising results…
Currently, there is no consensus on the real properties of Bitcoin. The discussion comprises its use as a speculative or safe haven assets, while other authors argue that the augmented attractiveness could end accomplishing money's…
Data-driven systems are gathering increasing amounts of data from users, and sensitive user data requires privacy protections. In some cases, the data gathered is non-numerical or symbolic, and conventional approaches to privacy, e.g.,…
Many algorithms are specified with respect to a fixed but unspecified parameter. Examples of this are especially common in cryptography, where protocols often feature a security parameter such as the bit length of a secret key. Our aim is…
Renewed public attention on the identity of Bitcoin's pseudonymous creator has sharpened focus on the Satoshi overhang, commonly framed as a tail risk for bitcoin. This paper argues that the mechanical downside of a disposition is bounded…
Probabilistic programming and the formal analysis of probabilistic algorithms are active areas of research, driven by the widespread use of randomness to improve performance. While functional correctness has seen substantial progress,…