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Bitcoin is a peer-to-peer electronic payment system that has rapidly grown in popularity in recent years. Usually, the complete history of Bitcoin blockchain data must be queried to acquire variables with economic meaning. This task has…
Bitcoin is a digital currency and payment system based on classical cryptographic technologies which works without a central administrator such as in traditional currencies. It has long been questioned what the impact of quantum computing…
Many existing timed-release encryption schemes uses time-lock puzzles to avoid relying on a trusted timeserver or a key holder which could be a weak spot in data security. However, it is unavoidable to consume massive computing power for…
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…
Bitcoin is the cryptocurrency with the largest market capitalisation, but its widespread adoption is fundamentally limited by the scalability constraints of its consensus algorithm, which requires every transaction to be confirmed onchain.…
The digital currency Bitcoin has had remarkable growth since it was first proposed in 2008. Its distributed nature allows currency transactions without a central authority by using cryptographic methods and a data structure called the…
The first obstacle that regular users encounter when setting up a node for a public blockchain is the time taken for downloading all the data needed for the node to start operating correctly. In fact, this may last from hours to weeks for…
The popularity of digital currencies, especially cryptocurrencies, has been continuously growing since the appearance of Bitcoin. Bitcoin's security lies in a proof-of-work scheme, which requires high computational resources at the miners.…
Although blockchain, the supporting technology of various cryptocurrencies, has offered a potentially effective framework for numerous decentralized trust management systems, its performance is still sub-optimal in real-world networks. With…
An important aspect of the propagation delay in blockchain networks is the block verification time, which is also responsible for the so-called verifier's dilemma. Models for the block verification time can help to understand and improve…
We propose a bitcoin generalization as a solution to the problem of scalability. The block is redefined as a sequence of sub-blocks of increasing sizes that coexist as different levels of compromise between decentralization and transactions…
Cryptocurrencies are highly volatile financial instruments with more and more new retail investors joining the scene with each passing day. Bitcoin has always proved to determine in which way the rest of the cryptocurrency market is headed…
This study introduces the concept of the forking effect in the cryptocurrency market,specifically focusing on the impact of forking events on bitcoin, also called parent coin.We use a modified exponential GARCH model to examine the…
Blockchain is a technology that provides a distributed ledger that stores previous records while maintaining consistency and security. Bitcoin is the first and largest decentralized electronic cryptographic system that uses blockchain…
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…
Based on 1-minute price changes recorded since year 2012, the fluctuation properties of the rapidly-emerging Bitcoin (BTC) market are assessed over chosen sub-periods, in terms of return distributions, volatility autocorrelation, Hurst…
Payment channel networks (PCNs) such as the Lightning Network offer an appealing solution to the scalability problem faced by many cryptocurrencies operating on a blockchain such as Bitcoin. However, PCNs also inherit the stringent…
The blockchain ecosystem has evolved into a multi-chain world with various blockchains vying for use. Although each blockchain may have its own native cryptocurrency or digital assets, there are use cases to transfer these assets between…
Distributed ledgers are common in the industry. Some of them can use blockchains as their underlying infrastructure. A blockchain requires participants to agree on its contents. This can be achieved via a consensus protocol, and several BFT…
ASIC cryptocurrency miners are a core component of blockchain infrastructures, directly converting computation and energy into monetary value. Despite their economic importance, their security is rarely evaluated in a structured manner. In…