Related papers: Bitcoin covenants unchained
Smart contracts are programs that execute inside blockchains such as Ethereum to manipulate digital assets. Since bugs in smart contracts may lead to substantial financial losses, there is considerable interest in formally proving their…
We describe the Lockchain Protocol, a lightweight Bitcoin meta-protocol that enables highly efficient transaction discovery at zero marginal block space cost, and data verification without introducing any new on-chain storage mechanism. The…
Some of the most significant high-level properties of currencies are the sums of certain account balances. Properties of such sums can ensure the integrity of currencies and transactions. For example, the sum of balances should not be…
This paper formalizes the proves the security of the Bridgeless protocol, a protocol able to bridge tokens between various chains. The Bridgeless protocol is run by a set of validators, responsible for verifying deposit transactions on the…
We study the Sign_then_Encrypt, Commit_then_Encrypt_and_Sign, and Encrypt_then_Sign paradigms in the context of two cryptographic primitives, namely designated confirmer signatures and signcryption. Our study identifies weaknesses in those…
Since the inception of Bitcoin, the distributed systems community has shown interest in the design of efficient blockchain systems. However, initial blockchain applications (like Bitcoin) attain very low throughput, which has promoted the…
Bitcoin is a cryptocurrency attracting a lot of interest both from the general public and researchers. There is an ongoing debate on the question of users' anonymity: while the Bitcoin protocol has been designed to ensure that the activity…
Blockchain technology provides a tamper-proof mechanism to execute inter-organizational business processes involving mutually untrusted parties. Existing approaches to blockchain-based process execution are based on code generation. In…
A model is proposed for Bitcoin prices that takes into account market attention. Market attention, modeled by a mean-reverting Cox-Ingersoll-Ross processes, affects the volatility of Bitcoin returns, with some delay. The model is affine and…
As Byzantine Agreement (BA) protocols find application in large-scale decentralized cryptocurrencies, an increasingly important problem is to design BA protocols with improved communication complexity. A few existing works have shown how to…
The security of most existing cryptocurrencies is based on a concept called Proof-of-Work, in which users must solve a computationally hard cryptopuzzle to authorize transactions (`one unit of computation, one vote'). This leads to enormous…
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…
Transparency is crucial in security-critical applications that rely on authoritative information, as it provides a robust mechanism for holding these authorities accountable for their actions. A number of solutions have emerged in recent…
Contract theories have been proposed to formally support distributed and decentralized system design while ensuring safe system integration. In this paper we propose hypercontracts, a generic model with a richer structure for its underlying…
Resource-constrained devices are unable to maintain a full copy of the Bitcoin Blockchain in memory. This paper proposes a bidirectional payment channel framework for IoT devices. This framework utilizes Bitcoin Lightning-Network-like…
While the blockchain-based smart contract has become a hot topic of research over the last decade, not the least in the context of Industry 4.0, it now has well-known legal and technical shortcomings that currently prohibit its real-world…
Research on blockchains addresses multiple issues, with one being writing smart contracts. In our previous research we described methodology and a tool to generate, in automated fashion, smart contracts from BPMN models. The generated smart…
Despite all the progress in quantum technologies over the last decade, there is still a dearth of practical applications for quantum computers with a small number of noisy qubits. The effort to show quantum supremacy has been largely…
Two taxonomies of money that include cryptocurrencies are analyzed. A definition of the term cryptocurrency is given and a taxonomy of them is presented, based on how its price is fixed. The characteristics of the use of current fiat money…
Smart contracts are the fundamental components of blockchain technology. They are programs to determine cryptocurrency transactions, and are irreversible once deployed, making it crucial for cryptocurrency investors to understand the…