Related papers: Continuous-Time Analysis of the Bitcoin and Prism …
Bitcoin's limited scripting capabilities and lack of native interoperability mechanisms have constrained its integration into the broader blockchain ecosystem, especially decentralized finance (DeFi) and multi-chain applications. This paper…
This paper develops a model to evaluate the viability of blockchain markets as the sole venue for price formation. Blockchains clear at discrete intervals called block time, and transactions are executed sequentially according to priority…
This work proposes a novel proof-of-work blockchain incentive scheme such that, barring exogenous motivations, following the protocol is guaranteed to be the optimal strategy for miners. Our blockchain takes the form of a directed acyclic…
Bitcoin is a top-ranked cryptocurrency that has experienced huge growth and survived numerous attacks. The protocols making up Bitcoin must therefore accommodate the growth of the network and ensure security. Security of the Bitcoin network…
This paper studies proof-of-work Nakamoto consensus protocols under bounded network delays, settling two long-standing questions in blockchain security: What is the most effective attack on block safety under a given block confirmation…
The application of Bitcoin enables people to understand blockchain technology gradually. Bitcoin is a decentralized currency that does not rely on third-party credit institutions, and the core of Bitcoin's underlying technology is…
The Bitcoin transaction graph is a public data structure organized as transactions between addresses, each associated with a logical entity. In this work, we introduce a complete probabilistic model of the Bitcoin Blockchain. We first…
This research paper provides a comprehensive analysis of Bitcoin, delving into its evolution, adoption, and potential future implications. As the pioneering cryptocurrency, Bitcoin has sparked significant interest and debate in recent…
Mining processes of Bitcoin and similar cryptocurrencies are currently incentivized with voluntary transaction fees and fixed block rewards which will halve gradually to zero. In the setting where optional and arbitrary transaction fee…
We improve the fundamental security threshold of eventual consensus Proof-of-Stake (PoS) blockchain protocols under the longest-chain rule by showing, for the first time, the positive effect of rounds with concurrent honest leaders. Current…
It is known that Bitcoin enables achieving fairness in secure computation by imposing monetary penalties on adversarial parties. This functionality is called secure computation with penalties. Bentov and Kumaresan (Crypto 2014) introduced…
Over the past decade, blockchain technology has attracted a huge attention from both industry and academia because it can be integrated with a large number of everyday applications of modern information and communication technologies (ICT).…
Bitcoin is the most common cryptocurrency involved in cyber scams. Cybercriminals often utilize pseudonymity and privacy protection mechanism associated with Bitcoin transactions to make their scams virtually untraceable. The Ponzi scheme…
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…
Fourteen years after the invention of Bitcoin, there has been a proliferation of many permissionless blockchains. Each such chain provides a public ledger that can be written to and read from by anyone. In this multi-chain world, a natural…
Bitcoin is a peer-to-peer electronic payment system that has rapidly grown in popularity in recent years. Usually, the complete history of Bitcoin blockchain data must be queried to acquire variables with economic meaning. This task has…
Bitcoin rise has put blockchain technology into the mainstream, amplifying its potential and broad utility. While Bitcoin has become incredibly famous, its transaction rate has not match such a corresponding increase. It still takes…
Cryptocurrency networks such as Bitcoin have emerged as a distributed alternative to traditional centralized financial transaction networks. However, there are major challenges in scaling up the throughput of such networks. Lightning…
To implement a blockchain, we need a blockchain protocol for all the nodes to follow. To design a blockchain protocol, we need a block publisher selection mechanism and a chain selection rule. In Proof-of-Stake (PoS) based blockchain…
Previous work presented a theoretical model based on the implicit Bitcoin specification for how an entity might issue a protocol native cryptocurrency that mimics features of fiat currencies. Protocol native means that it is built into the…