Related papers: Bitcoin covenants unchained
It is well known that a trusted setup allows one to solve the Byzantine agreement problem in the presence of $t<n/2$ corruptions, bypassing the setup-free $t<n/3$ barrier. Alas, the overwhelming majority of protocols in the literature have…
UTXO-based smart contract platforms face an efficiency bottleneck, in that any transaction sent to a contract must specify the entire updated contract state. This requirement becomes particularly burdensome when the contract state contains…
At the beginning of 2018, there is a growing belief that blockchain technologies constitute a revolutionary innovation in how we transfer value electronically. In that vein, blockchain may be a suitable complement to ontologies to achieve a…
Since 2008, after the proposal of a Bitcoin electronic cash system, Bitcoin has fundamentally changed the economic system over the last decade. Since 2022, large language models (LLMs) such as GPT have outperformed humans in many real-life…
We argue that there is a hierarchy of levels describing to that particular level relevant features of reality behind the content and behavior of blockchain and smart contracts in their realistic deployment. Choice, design, audit and legal…
We formulate the design of a threshold signature scheme as made possible on cryptocurrency protocols like Bitcoin. The funds are secured by an m-of-n threshold signature, where at least m signatures are needed to unlock the funds. A user…
Digital money can be implemented efficiently by avoiding consensus. However, no-consensus implementations have drawbacks, as they cannot support smart contracts, and (even more fundamentally) they cannot deal with conflicting transactions.…
When blockchain systems are said to be trustless, what this really means is that all the trust is put into software. Thus, there are strong incentives to ensure blockchain software is correct -- vulnerabilities here cost millions and break…
Bitcoin has created a new exchange paradigm within which financial transactions can be trusted without an intermediary. This premise of a free decentralized transactional network however requires, in its current implementation, unrestricted…
This research is to assess cryptocurrencies with the conditional beta, compared with prior studies based on unconditional beta or fixed beta. It is a new approach to building a pricing model for cryptocurrencies. Therefore, we expect that…
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…
Bitcoin is a digital currency and electronic payment system operating over a peer-to-peer network on the Internet. One of its most important properties is the high level of anonymity it provides for its users. The users are identified by…
Recently, smart contracts have played a vital role in automatic financial and business transactions. To help end users without programming background to better understand the logic of smart contracts, previous studies have proposed models…
Bitcoin is the first successful decentralized global digital cash system. Its mining process requires intense computational resources, therefore its usefulness remains a disputable topic. We aim to solve three problems with Bitcoin and…
Blockchain is a decentralized ledger used to securely exchange digital currency, perform deals and transactions efficient manner, each user of the network has access to the least copy of the encrypted ledger so that they can validate a new…
A robust combiner combines many candidates for a cryptographic primitive and generates a new candidate for the same primitive. Its correctness and security hold as long as one of the original candidates satisfies correctness and security. A…
Security bugs and trapdoors in smart contracts have been impacting the Ethereum community since its inception. Conceptually, the 1.45-million Ethereum's contracts form a single "gigantic program" whose behaviors are determined by the…
Some blockchain programs (smart contracts) have included serious security vulnerabilities. Obsidian is a new typestate-oriented programming language that uses a strong type system to rule out some of these vulnerabilities. Although Obsidian…
Modern cryptocurrency systems, such as Ethereum, permit complex financial transactions through scripts called smart contracts. These smart contracts are executed many, many times, always without real concurrency. First, all smart contracts…
Cryptocurrencies are distributed systems that allow exchanges of native tokens among participants, or the exchange of such tokens for fiat currencies in markets external to these public ledgers. The availability of their complete historical…