Related papers: Formal Modelling and Security Analysis of Bitcoin'…
The Second Payment Services Directive (PSD2) of the European Union aims to create a consumer-friendly financial market by mandating secure and standardised data sharing between banking operators and third parties. Consequently, EU countries…
In recent times, many protocols have been proposed to provide security for various information and communication systems. Such protocols must be tested for their functional correctness before they are used in practice. Application of formal…
Bitcoin and many other similar Cryptocurrencies have been in existence for over a decade, prominently focusing on decentralized, pseudo-anonymous ledger-based transactions. Many protocol improvements and changes have resulted in new…
This paper presents a comprehensive refutation of the so-called "blockchain trilemma," a widely cited but formally ungrounded claim asserting an inherent trade-off between decentralisation, security, and scalability in blockchain protocols.…
BitML is a process calculus to express smart contracts that can be run on Bitcoin. One of its current limitations is that, once a contract has been stipulated, the participants cannot renegotiate its terms: this prevents expressing common…
The Lightning Network (LN) is a prominent payment channel network aimed at addressing Bitcoin's scalability issues. Due to the privacy of channel balances, senders cannot reliably choose sufficiently liquid payment paths and resort to a…
Providing reliable and surreptitious communications is difficult in the presence of adaptive and resourceful state level censors. In this paper we introduce Tithonus, a framework that builds on the Bitcoin blockchain and network to provide…
We consider a blockchain-based protocol for the certification of academic credentials named Blockcerts, which is currently used worldwide for validating digital certificates of competence compliant with the Open Badges standard. We study…
Cryptocurrencies, based on and led by Bitcoin, have shown promise as infrastructure for pseudonymous online payments, cheap remittance, trustless digital asset exchange, and smart contracts. However, Bitcoin-derived blockchain protocols…
The famous new money Bitcoin is classified as a technical informational money (TIM). Besides introducing the idea of a TIM, a more extreme notion of informational money will be developed: exclusively informational money (EXIM). The…
Lending protocols are one of the main applications of Decentralized Finance (DeFi), enabling crypto-assets loan markets with a total value estimated in the tens of billions of dollars. Unlike traditional lending systems, these protocols…
This paper presents Wrapless -- a lending protocol that enables the collateralization of bitcoins without requiring a trusted wrapping mechanism. The protocol facilitates a "loan channel" on the Bitcoin blockchain, allowing bitcoins to be…
Bitcoin is one of the decentralized cryptocurrencies powered by a peer-to-peer blockchain network. Parties who trade in the bitcoin network are not required to disclose any personal information. Such property of anonymity, however,…
The modular inverse is an essential piece of computation required for elliptic curve operations used for digital signatures in Bitcoin and other applications. A novel approach to the extended Euclidean algorithm has been developed by…
Modern web applications often rely on third-party services to provide their functionality to users. The secure integration of these services is a non-trivial task, as shown by the large number of attacks against Single Sign On and…
Cryptocurrencies have gained popularity due to their transparency, security, and accessibility compared to traditional financial systems, with Bitcoin, introduced in 2009, leading the market. Bitcoin's security relies on blockchain…
This paper describes a new protocol for authentication in ad-hoc networks. The protocol has been designed to meet specialized requirements of ad-hoc networks, such as lack of direct communication between nodes or requirements for revocable…
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…
In this paper, we analyze the security of an RFID authentication protocol proposed by Liu and Bailey [1], called Privacy and Authentication Protocol (PAP), and show its vulnerabilities and faulty assumptions. PAP is a privacy and…
With challenges and limitations associated with security in the fintech industry, the rise to the need for data protection increases. However, the current existing passwordless and password-based peer to peer transactions in online banking…