Related papers: Scrypt Mining with ASICs
Although Bitcoin was intended to be a decentralized digital currency, in practice, mining power is quite concentrated. This fact is a persistent source of concern for the Bitcoin community. We provide an explanation using a simple model to…
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…
Bitcoin, a decentralized cryptocurrency, has attracted a lot of attention from academia, financial service industry and enthusiasts. The trade-off between transaction confirmation throughput and centralization of hash power do not allow…
Utilizing graph analytics and learning has proven to be an effective method for exploring aspects of crypto economics such as network effects, decentralization, tokenomics, and fraud detection. However, the majority of existing research…
We present a new Bitcoin coin selection algorithm, "coin selection with leverage", which aims to improve upon cost savings than that of standard knapsack like approaches. Parameters to the new algorithm are available to be tuned at the…
In cryptography, encryption is the process of obscuring information to make it unreadable without special knowledge. This is usually done for secrecy, and typically for confidential communications. Encryption can also be used for…
The square root modulo problem is a known primitive in designing an asymmetric cryptosystem. It was first attempted by Rabin. Decryption failure of the Rabin cryptosystem caused by the 4-to-1 decryption output is overcome efficiently in…
In recent years, hype surrounding the proliferation of blockchain-based technology has been significant. Apart from the creation of bitcoin and other cryptocurrencies, it has been difficult to determine what practical utility might lie in…
Blockchain-based cryptocurrencies prioritize transactions based on their fees, creating a unique kind of fee market. Empirically, this market has failed to yield stable equilibria with predictable prices for desired levels of service. We…
Bitcoin is a decentralized, pseudonymous cryptocurrency that is one of the most used digital assets to date. Its unregulated nature and inherent anonymity of users have led to a dramatic increase in its use for illicit activities. This…
Proof of work blockchain protocols using multiple hash types are considered. It is proven that the security region of such a protocol cannot be the AND of a 51\% attack on all the hash types. Nevertheless, a protocol called Merged Bitcoin…
Cryptocurrencies as a new way of transferring assets and securing financial transactions have gained popularity in recent years. Transactions in cryptocurrencies are publicly available, hence, statistical studies on different aspects of…
Bitcoin draws the highest degree of attention among cryptocurrencies, while coin mining is one of the most important fashion of profiting in the Bitcoin ecosystem. This paper constructs fresh coin circulation networks by tracking the fresh…
Quantum money is the first invention in quantum information science, promising advantages over classical money by simultaneously achieving unforgeability, user privacy, and instant validation. However, standard quantum money relies on…
Despite all the progress in quantum technologies over the last decade, there is still a dearth of practical applications for quantum computers with a small number of noisy qubits. The effort to show quantum supremacy has been largely…
Digital wallet as a software program or a digital device allows users to conduct various transactions. Hot and cold digital wallets are considered as two types of this wallet. Digital wallets need an online connection fall into the first…
Researchers have discovered a series of theoretical attacks against Bitcoin's Nakamoto consensus; the most damaging ones are selfish mining, double-spending, and consistency delay attacks. These attacks have one common cause: block…
Cryptocurrencies, led by bitcoin launched in 2009, have obtained wide attention due to the emerging Blockchain in recent years. Anonymous cryptocurrencies are highly essential since users want to preserve their privacy when conducting…
Owing to Satoshi Nakamoto's brilliant idea, a P2P public ledger is shown to be implementable in anonymous network. Any Internet user can then join the anonymous network and contribute to the P2P public ledger by providing their computing…
Proof-of-Work (PoW) is a popular consensus protocol used by Bitcoin since its inception. PoW has the well-known flaw of assigning all the reward to the single miner (or pool) that inserts the new block. This has the consequence of making…