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Permissionless blockchains such as Bitcoin have long been criticized for their high computational and storage overhead. Unfortunately, while a number of proposals address the energy consumption of existing Proof-of-Work deployments, little…
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…
Bitcoin brings a new type of digital currency that does not rely on a central system to maintain transactions. By benefiting from the concept of decentralized ledger, users who do not know or trust each other can still conduct transactions…
Classical monetary systems regularly subject the most vulnerable majority of the world's population to debilitating financial shocks, and have manifestly allowed uncontrolled global inequality over the long term. Given these basic failures,…
The current large blockchain systems (BTC Lightning network, Ethereum, etc.) are generally facing the problems of low persistence rates and high storage costs. Therefore, users tend to store single modal (textual) information on the…
This paper presents a formal analysis of the Lightning Network as a monetary system structurally diverging from Bitcoin's base-layer settlement model. We demonstrate that under increasing transaction demand, BTC transaction fees rise…
A reputation of high volatility accompanies the emergence of Bitcoin as a financial asset. This paper intends to nuance this reputation and clarify our understanding of Bitcoin's volatility. Using daily, weekly, and monthly closing prices…
Databases need to allocate and free blocks of storage on disk. Freed blocks introduce holes where no data is stored. Allocation systems attempt to reuse such deallocated regions in order to minimize the footprint on disk. If previously…
The use of digital money has become increasingly popular, but it comes with certain drawbacks. For instance, it can be challenging to make payments during power outages or internet failures. Additionally, some groups may find it difficult…
In recent years decentralized currencies developed through Blockchains are increasingly becoming popular because of their transparent nature and absence of a central controlling authority. Though a lot of computation power, disk space, and…
Cryptocurrencies are a digital medium of exchange with decentralized control that renders the community operating the cryptocurrency its sovereign. Leading cryptocurrencies use proof-of-work or proof-of-stake to reach consensus, thus are…
Cryptocurrencies came to the world in the recent decade and attempted to offer a new order where the financial system is not governed by a centralized entity, and where you have complete control over your account without the need to trust…
Coding theory revolves around the incorporation of redundancy into transmitted symbols, computation tasks, and stored data to guard against adversarial manipulation. However, error correction in coding theory is contingent upon a strict…
E-commerce in today's conditions has the highest dependence on network infrastructure of banking. However, when the possibility of communicating with the Banking network is not provided, business activities will suffer. This paper proposes…
The traditional cycle of industrial products has been linear since its inception. Raw resources are acquired, processed, distributed, used and ultimately disposed of. This linearity has led to a dangerously low efficiency degree in resource…
Bitcoin is a "crypto currency", a decentralized electronic payment scheme based on cryptography which has recently gained excessive popularity. Scientific research on bitcoin is less abundant. A paper at Financial Cryptography 2012…
Central Bank Digital Currency (CBDC) is an emerging trend in digital payments, with the vast majority of central banks around the world researching, piloting, or even operating a digital version of cash. While design choices differ broadly,…
The increasingly complex economic and financial environment in which we live makes the management of liquidity in payment systems and the economy in general a persistent challenge. New technologies are making it possible to address this…
Mining fairness in blockchain refers to equality between the computational resources invested in mining and the block rewards received. There exists a dilemma wherein increasing the transaction processing capacity of a blockchain…
With the emergence of Bitcoin and recently proposed stablecoins from BigTechs, such as Diem (formerly Libra), central banks face growing competition from private actors offering their own digital alternative to physical cash. We do not…