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Bitcoin provides freshness properties by forming a blockchain where each block is associated with its timestamp and the previous block. Due to these properties, the Bitcoin protocol is being used as a decentralized, trusted, and secure…
The Bitcoin Lightning Network (LN) is designed to improve the scalability of blockchain systems by using off-chain payment paths to settle transactions in a faster, cheaper, and more private manner. This work aims to empirically study LN's…
Blockchains use peer-to-peer networks for disseminating information among peers, but these networks currently do not have any provable guarantees for desirable properties such as Byzantine fault tolerance, good connectivity and small…
We prove Bitcoin is secure under temporary dishonest majority. We assume the adversary can corrupt a specific fraction of parties and also introduce crash failures, i.e., some honest participants are offline during the execution of the…
Quantum computation represents a threat to many cryptographic protocols in operation today. It has been estimated that by 2035, there will exist a quantum computer capable of breaking the vital cryptographic scheme RSA2048. Blockchain…
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…
Anonymity in Bitcoin, a peer-to-peer electronic currency system, is a complicated issue. Within the system, users are identified by public-keys only. An attacker wishing to de-anonymize its users will attempt to construct the one-to-many…
We identify a subtle security issue that impacts the design of smart contracts, because agents may themselves deploy smart contracts (side contracts). Typically, equilibria of games are analyzed in vitro, under the assumption that players…
In this paper, we explore vulnerabilities and countermeasures of the recently proposed blockchain consensus based on proof-of-authority. The proof-of-work blockchains, like Bitcoin and Ethereum, have been shown both theoretically and…
This work proposes a novel proof-of-work blockchain incentive scheme such that, barring exogenous motivations, following the protocol is guaranteed to be the optimal strategy for miners. Our blockchain takes the form of a directed acyclic…
Routing attacks remain practically effective in the Internet today as existing countermeasures either fail to provide protection guarantees or are not easily deployable. Blockchain systems are particularly vulnerable to such attacks as they…
Clients of permissionless blockchain systems, like Bitcoin, rely on an underlying peer-to-peer network to send and receive transactions. It is critical that a client is connected to at least one honest peer, as otherwise the client can be…
In recent years, cryptocurrencies have attracted growing attention from both private investors and institutions. Among them, Bitcoin stands out for its impressive volatility and widespread influence. This paper explores the predictability…
Recently we could see several institutions coming together to create consortium based blockchain networks such as Hyperledger. Although for applications of blockchain such as Bitcoin, Litcoin, etc. the majority-attack might not be a great…
Grover's algorithm confers on quantum computers a quadratic advantage over classical computers for searching in an arbitrary data set, a scenario that describes Bitcoin mining. It has previously been argued that the only side-effect of…
Bitcoin and other similar digital currencies on blockchains are not ideal means for payment, because their prices tend to go up in the long term (thus people are incentivized to hoard those currencies), and to fluctuate widely in the short…
Blockchains add transactions to a distributed shared ledger by arriving at consensus on sets of transactions contained in blocks. This provides a total ordering on a set of global transactions. However, total ordering is not enough to…
In the cryptographic currency Bitcoin, all transactions are recorded in the blockchain - a public, global, and immutable ledger. Because transactions are public, Bitcoin and its users employ obfuscation to maintain a degree of financial…
Cryptocurrency is a novel exploration of a form of currency that proposes a decentralized electronic payment scheme based on blockchain technology and cryptographic theory. While cryptocurrency has the security characteristics of being…
We study financial transaction confirmation finality in Bitcoin as a function of transaction amount and user risk tolerance. A transaction is recorded in a block on a blockchain. However, a transaction may be revoked due to a fork in the…