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The enormous power consumption of Bitcoin has led to undifferentiated discussions in science and practice about the sustainability of blockchain and distributed ledger technology in general. However, blockchain technology is far from…

Cryptography and Security · Computer Science 2021-02-17 Johannes Sedlmeir , Hans Ulrich Buhl , Gilbert Fridgen , Robert Keller

Cryptocurrency exchanges are frequently targeted and compromised by cyber-attacks, which may lead to significant losses for the depositors and closure of the affected exchanges. These risks threaten the viability of the entire public…

Cryptography and Security · Computer Science 2019-04-23 Benjamin Johnson , Aron Laszka , Jens Grossklags , Tyler Moore

Bitcoin is a "crypto currency", a decentralized electronic payment scheme based on cryptography. Bitcoin economy grows at an incredibly fast rate and is now worth some 10 billions of dollars. Bitcoin mining is an activity which consists of…

Cryptography and Security · Computer Science 2014-12-03 Nicolas T. Courtois , Lear Bahack

Cryptocurrency mining processes always lead to a high energy consumption at considerably high production cost, which is nearly one-third of cryptocurrency (e.g. Bitcoin) price itself. As the core of mining process is based on SHA-256…

Emerging Technologies · Computer Science 2024-01-23 Ahmet Orun , Fatih Kurugollu

Bitcoin mining presents a significant economic incentive for efficient hashing and broadcast of data, both parameters stemming from the Proofs of Work used to advance the network. This incentive has led to the development of Bitcoin…

Cryptography and Security · Computer Science 2016-03-17 Jonathan Harvey-Buschel , Can Kisagun

Blockchain is a distributed ledger, which is protected against malicious modifications by means of cryptographic tools, e.g. digital signatures and hash functions. One of the most prominent applications of blockchains is cryptocurrencies,…

Cryptography and Security · Computer Science 2019-12-20 E. O. Kiktenko , M. A. Kudinov , A. K. Fedorov

Blockchain-based cryptocurrencies have become an extremely important, highly-used, technology. A major criticism of cryptocurrencies, however, is their energy consumption. In May 2022 Bitcoin alone was reported to be consuming 150…

Quantum Physics · Physics 2023-06-07 Joseph Kearney , Carlos A Perez-Delgado

Blockchain is a distributed database which is cryptographically protected against malicious modifications. While promising for a wide range of applications, current blockchain platforms rely on digital signatures, which are vulnerable to…

The number of blockchain users has tremendously grown in recent years. As an unintended consequence, e-crime transactions on blockchains has been on the rise. Consequently, public blockchains have become a hotbed of research for developing…

Cryptography and Security · Computer Science 2020-10-29 Cuneyt G. Akcora , Sudhanva Purusotham , Yulia R. Gel , Mitchell Krawiec-Thayer , Murat Kantarcioglu

In-browser cryptojacking involves hijacking the CPU power of a website's visitor to perform CPU-intensive cryptocurrency mining, and has been on the rise, with 8500% growth during 2017. While some websites advocate cryptojacking as a…

Cryptography and Security · Computer Science 2018-09-10 Muhammad Saad , Aminollah Khormali , Aziz Mohaisen

Scalability and security problems of the centralized architecture models in cyberphysical systems have great potential to be solved by novel blockchain based distributed models.A decentralized energy trading system takes advantage of…

Distributed, Parallel, and Cluster Computing · Computer Science 2020-04-21 Faizan Ali , Moayad Aloqaily , Omar Alfandi , Oznur Ozkasap

In the past years trend of microgrids is increasing very fast to reduce peak-hour costs. However, in these systems, third parties are still involved in selling surplus energy. This results in increased cost of energy and there are many…

Cryptography and Security · Computer Science 2024-05-21 Muhammad Awais , Qamar Abbas , Shehbaz Tariq , Sayyaf Haider Warraich

Blockchain technology transformed the digital sphere by providing a transparent, secure, and decentralized platform for data security across a range of industries, including cryptocurrencies and supply chain management. Blockchain's…

Cryptography and Security · Computer Science 2023-06-22 Bilash Saha , Md Mehedi Hasan , Nafisa Anjum , Sharaban Tahora , Aiasha Siddika , Hossain Shahriar

There is a growing interest in understanding the energy and environmental footprint of digital currencies, specifically in cryptocurrencies such as Bitcoin and Ethereum. These cryptocurrencies are operated by a geographically distributed…

Computers and Society · Computer Science 2022-10-24 Ashish Rajendra Sai , Harald Vranken

The energy sustainability of blockchains, whose consensus protocol rests on the Proof-of-Work, nourishes a heated debate. The underlying issue lies in a highly energy-consuming process, defined as mining, required to validate crypto-asset…

Cryptocurrency refers to a type of digital asset that uses distributed ledger, or blockchain, technology to enable a secure transaction. Although the technology is widely misunderstood, many central banks are considering launching their own…

Computational Finance · Quantitative Finance 2020-07-30 Wolfgang Karl Härdle , Campbell R. Harvey , Raphael C. G. Reule

Renewable energy has become a reality in the present and is being preferred by countries to become a considerable part of the central grid. With the increasing adoption of renewables it will soon become crucial to have a platform which…

Cryptocurrencies are gaining more popularity due to their security, making counterfeits impossible. However, these digital currencies have been criticized for creating a large carbon footprint due to their algorithmic complexity and…

Computers and Society · Computer Science 2022-06-08 Altanai Bisht , Arielle Wilson , Zachary Jeffreys , Shadrokh Samavi

In this paper we revisit the mining strategies in proof of work based cryptocurrencies and propose two strategies, we call smart and smarter mining, that in many cases strictly dominate honest mining. In contrast to other known attacks,…

Cryptography and Security · Computer Science 2019-02-13 Guy Goren , Alexander Spiegelman

This paper provides an overview of how crypto currency and blockchain engineering interacts with the law enforcement. We point out that a large proportion of crypto users are amateur investors and the dominant and the largest segment in…

Cryptography and Security · Computer Science 2021-09-03 Nicolas T. Courtois , Kacper T. Gradon , Klaus Schmeh
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