Related papers: Bandwidth-Efficient Transaction Relay for Bitcoin
Improving transaction throughput is an important challenge for Bitcoin. However, shortening the block generation interval or increasing the block size to improve throughput makes it sharing blocks within the network slower and increases the…
The Bitcoin P2P network is at the core of all communications between clients. The reachable part of this network has been explored and analyzed by numerous studies. Unreachable nodes, however, are, in most part, overlooked. Nonetheless,…
We design and validate new block propagation protocols for the peer-to-peer (P2P) network of the Bitcoin blockchain. Despite its strong protection for security and privacy, the current Bitcoin blockchain can only support a low number of…
Bitcoin uses blockchain technology to maintain transactions order and provides probabilistic guarantee to prevent double-spending, assuming that an attacker's computational power does not exceed %50 of the network power. In this paper, we…
A proof of the security of the Bitcoin protocol is made rigorous, and simplified in certain parts. A computational model in which an adversary can delay transmission of blocks by time $\Delta$ is considered. The protocol is generalized to…
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…
The world economy is experiencing the novel adoption of distributed currencies that are free from the control of central banks. Distributed currencies suffer from extreme volatility, and this can lead to catastrophic implications during…
The spectacular success of Bitcoin and Blockchain Technology in recent years has provided enough evidence that a widespread adoption of a common cryptocurrency system is not merely a distant vision, but a scenario that might come true in…
Routing attacks remain practically effective in the Internet today as existing countermeasures either fail to provide protection guarantees or are not easily deployable. Blockchain systems are particularly vulnerable to such attacks as they…
Bitcoin is the first and the most extensive decentralized electronic cryptocurrency system that uses blockchain technology. It uses a peer-to-peer (P2P) network to operate without a central authority and propagate system information such as…
Cryptocurrencies are poised to revolutionize the modern economy by democratizing commerce. These currencies operate on top of blockchain-based distributed ledgers. Existing permissionless blockchain-based protocols offer unparalleled…
Bitcoin recently introduced a new protocol for the encryption of peer-to-peer (P2P) communication. The protocol, known as V2 P2P transport, represents a big step towards securing the overlay network against various previously-known attack…
Cryptocurrencies such as Bitcoin are realized using distributed systems and hence critically rely on the performance and security of the interconnecting network. The requirements on these networks and their usage, however can differ…
A key performance metric in blockchains is the latency between when a transaction is broadcast and when it is confirmed (the so-called, confirmation latency). While improvements in consensus techniques can lead to lower confirmation…
Banking as an essential service can be hard to access in remote, rural regions where the network connectivity is intermittent. Although micro-banking has been made possible by SMS or USSD messages in some places, their security flaws and…
The purpose of this work was to perform a network analysis on the rapidly growing bitcoin transaction network. Using a web-socket API, we collected data on all transactions occurring during a six hour window. Sender and receiver addresses…
Cryptocurrencies, based on and led by Bitcoin, have shown promise as infrastructure for pseudonymous online payments, cheap remittance, trustless digital asset exchange, and smart contracts. However, Bitcoin-derived blockchain protocols…
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…
Bitcoin, a decentralized cryptocurrency, has attracted a lot of attention from academia, financial service industry and enthusiasts. The trade-off between transaction confirmation throughput and centralization of hash power do not allow…
Recent work has demonstrated significant anonymity vulnerabilities in Bitcoin's networking stack. In particular, the current mechanism for broadcasting Bitcoin transactions allows third-party observers to link transactions to the IP…