Related papers: UTXO in Digital Currencies: Account-based or Token…
The energy consumption and related carbon emissions of cryptocurrencies such as Bitcoin are subject to extensive discussion in public, academia, and industry. As cryptocurrencies continue their journey into mainstream finance, incentives to…
Covenants are linguistic primitives that extend the Bitcoin script language, allowing transactions to constrain the scripts of the redeeming ones. Advocated as a way of improving the expressiveness of Bitcoin contracts while preserving the…
Blockchain technology has recently gained widespread attention by media, businesses, public sector agencies, and various international organizations, and it is being regarded as potentially even more disruptive than the Internet. Despite…
Many of the problems that arise in the context of blockchains and decentralized finance can be seen as variations on classical problems of distributed computing. The smart contract model proposed here is intended to capture both 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…
The Bitcoin digital currency appeared in 2009. Since this time, researchers and practitioners have looked under the hood of the open source Bitcoin currency, and discovered that Bitcoins Blockchain software architecture is useful for…
Non-Fungible Tokens (NFTs) are a new development in blockchain technology. News around NFTs is surrounded by skepticism because unrealistically high prices are being paid online for these NFTs which are in the form of apparently simple…
Cryptocurrencies and Blockchain-based technologies are disrupting all markets. While the potential of such technologies remains to be seen, there is a current need to understand emergent patterns of user behavior and token adoption in order…
Bitcoin is the world's first decentralized digital currency. Its main technical innovation is the use of a blockchain and hash-based proof of work to synchronize transactions and prevent double-spending the currency. While the qualitative…
Blockchain technology has emerged as one of the most transformative digital innovations of the 21st century. This paper presents a comprehensive review of blockchain's fundamental architecture, tracing its development from Bitcoin's initial…
Many proposals for the design and implementation of digital wallets assume that the purpose of the wallet is to enable offline payments via custodial accounts, ignoring the real problems faced by individuals and businesses that engage in…
Cryptocurrencies come with a variety of tokenomic policies as well as aspirations of desirable monetary characteristics that have been described by proponents as 'sound money' or even 'ultra sound money.' These propositions are typically…
Human societies engage in a number of games which use tokens as a means to allocate, issue and access gated resources and property rights: The notion of exchanging tokens that represent and carry value from the past into the future to…
This paper examines the economic and security implications of Proof-of-Stake (POS) designs, providing a survey of POS design choices and their underlying economic principles in prominent POS-blockchains. The paper argues that…
We present a survey to evaluate crypto-political, crypto-economic, and crypto-governance sentiment in people who are part of a blockchain ecosystem. Based on 3710 survey responses, we describe their beliefs, attitudes, and modes of…
Blockchain was mainly introduced for secure transactions in connection with the mining of cryptocurrency Bitcoin. This article discusses the fundamental concepts of blockchain technology and its components, such as block header,…
Cryptocurrencies are distributed systems that allow exchanges of native (and non-) tokens among participants. The complete historical bookkeeping and its wide availability opens up an unprecedented possibility, i.e. that of understanding…
The rigorous security model of Bitcoin's UTXO architecture often comes at the cost of developer usability, forcing a reliance on manual stack manipulation that leads to critical financial vulnerabilities like signature malleability,…
Modern technology has brought novel types of wealth. In contrast to hard cashes, digital currencies do not have a physical form. They exist in electronic forms only. Yet, it has not been clear what impacts their ongoing growth will make, if…
Historically, gold and silver have played distinct roles in traditional monetary systems. While gold has primarily been revered as a superior store of value, prompting individuals to hoard it, silver has commonly been used as a medium of…