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Since the creation of Bitcoin in 2009 we have seen a great push towards public and private blockchains. In order to avoid fragmentation, a global network connecting all these blockchains is envisioned. Just like the Internet facilitates…
Traditional distributed transaction processing (TP) systems, such as replicated databases, faced difficulties in getting wide adoption for scenarios of enterprise integration due to the level of mutual trust required. Ironically, public…
Modern cryptocurrencies exploit decentralised blockchains to record a public and unalterable history of transactions. Besides transactions, further information is stored for different, and often undisclosed, purposes, making the blockchains…
At the heart of the Bitcoin is a blockchain protocol, a protocol for achieving consensus on a public ledger that records bitcoin transactions. To the extent that a blockchain protocol is used for applications such as contract signing and…
Utilizing graph analytics and learning has proven to be an effective method for exploring aspects of crypto economics such as network effects, decentralization, tokenomics, and fraud detection. However, the majority of existing research…
We condense the theory of blockchains down to a simple and compact set of four type equations (Idealised EUTxO), and to an algebraic characterisation (abstract chunk systems), and exhibit an adjoint pair of functors between them. This gives…
In a blockchain system, nodes regularly distribute data to other nodes. The ideal perspective taken in the scientific literature is that data is broadcast to all nodes directly, while in practice data is distributed by repeated multicast.…
The recent adoption of blockchain technologies and open permissionless networks suggest the importance of peer-to-peer atomic cross-chain transaction protocols. Users should be able to atomically exchange tokens and assets without depending…
A key challenge for Bitcoin cryptocurrency holders, such as startups using ICOs to raise funding, is managing their FX risk. Specifically, a misinformed decision to convert Bitcoin to fiat currency could, by itself, cost USD millions. In…
To mitigate the scalability problem of decentralized cryptocurrencies such as Bitcoin and Ethereum, the payment channel, which allows two parties to perform secure coin transfers without involving the blockchain, has been proposed. The…
Blockchain systems essentially consist of two levels: The network level has the responsibility of distributing an ordered stream of transactions to all nodes of the network in exactly the same way, even in the presence of a certain amount…
One of the defining features of a cryptocurrency is that its ledger, containing all transactions that have evertaken place, is globally visible. As one consequenceof this degree of transparency, a long line of recent re-search has…
Blockchain systems and smart contracts provide ways to securely implement multi-party transactions without the use of trusted intermediaries, which currently underpin many commercial transactions. However, they do so by transferring trust…
Options are fundamental to blockchain-based financial services, offering essential tools for risk management and price speculation, which enhance liquidity, flexibility, and market efficiency in decentralized finance (DeFi). Despite the…
Bitcoin's enormous success has inspired the development of alternative blockchains, such as consortium chains. Several cross-chain protocols have been proposed as ways of connecting these universes of individual blockchains in a distributed…
Performance and scalability are major concerns for blockchains: permissionless systems are typically limited by slow proof of X consensus algorithms and sequential post-order transaction execution on every node of the network. By…
Off-Chain transactions allow for the immediate transfer of Cryptocurrency between two parties, without delays or unavoidable transaction fees. Such capabilities are critical for mainstream Cryptocurrency adaption. They allow for the…
There is an ongoing competition among blockchain technologies and the existence of one ultimate blockchain is impossible for many reasons. On the other hand, such variety can create difficulties in adoption, especially for the governments…
Increasing the transactional throughput of decentralized blockchains in a secure manner has been the holy grail of blockchain research for most of the past decade. This paper introduces a scheme for scaling blockchains while retaining…
There is growing interest in providing programmatic access to the value locked in Bitcoin, which famously offers limited programmability itself. Various approaches have been put forth in recent years, with the vast majority of proposed…