Related papers: Green Bitcoin: Global Sound Money
Bitcoin is a peer-to-peer payment system proposed by Nakamoto in 2008. Based on the Nakamoto consensus, Bagaria, Kannan, Tse, Fanti, and Viswanath proposed the Prism protocol in 2018 and showed that it achieves near-optimal blockchain…
The distributed consensus mechanism is the backbone of the rapidly developing blockchain network. Blockchain platforms consume vast amounts of electricity based on the current consensus mechanism of Proof of Work. Here, we point out an…
The Holy Grail of a decentralised stablecoin is achieved on rigorous mathematical frameworks, obtaining multiple advantageous proofs: stability, convergence, truthfulness, faithfulness, and malicious-security. These properties could only be…
We explore the feasibility of deploying Bitcoin as the shared monetary standard between Earth and Mars, accounting for physical constraints of interplanetary communication. We introduce a novel primitive, Proof-of-Transit Timestamping…
Most modern electronic devices can produce a random number. However, it is difficult to see how a group of mutually distrusting entities can have confidence in any such hardware-produced stream of random numbers, since the producer could…
The global financial system stands at an inflection point. Stablecoins represent the most significant evolution in banking since the abandonment of the gold standard, positioned to enable "Banking 2.0" by seamlessly integrating…
Two of the most important technological advancements currently underway are the advent of quantum technologies, and the transitioning of global financial systems towards cryptographic assets, notably blockchain-based cryptocurrencies and…
As Bitcoin's popularity has grown over the decade since its creation, it has become an increasingly attractive target for adversaries of all kinds. One of the most powerful potential adversaries is the country of China, which has expressed…
Due to recent development in quantum computing, the invention of a large quantum computer is no longer a distant future. Quantum computing severely threatens modern cryptography, as the hard mathematical problems beneath classic public-key…
While showing great promise, Bitcoin requires users to wait tens of minutes for transactions to commit, and even then, offering only probabilistic guarantees. This paper introduces ByzCoin, a novel Byzantine consensus protocol that…
We put forward the idea that classical blockchains and smart contracts are potentially useful primitives not only for classical cryptography, but for quantum cryptography as well. Abstractly, a smart contract is a functionality that allows…
Since the creation of Bitcoin in 2009 we have seen a great push towards public and private blockchains. In order to avoid fragmentation, a global network connecting all these blockchains is envisioned. Just like the Internet facilitates…
The development of blockchain technology has significantly enhanced the security and transparency of personal information and transaction records. Concurrent with the advancement of blockchain technology and the emergence of the digital…
Blockchain technology is the first successful Bitcoin Network. It enables the ledger to become more decentralized and secure. Since it is not limited to bitcoin and controlled by third parties by government, corporations or banks, the…
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…
Blockchain technology is facing critical issues of scalability, efficiency and sustainability. These problems are necessary to solve if blockchain is to become a technology that can be used responsibly. Useful quantum computers could…
Persistent financial frictions - including price volatility, constrained credit access, and supply chain inefficiencies - have long hindered productivity and welfare in the global agricultural sector. This paper provides a theoretical and…
Cryptocurrencies have garnered a lot of attention by governments and internet enthusiasts over the past three years. These currencies are celebrated for their security and speedy transactions in a modern era of digital commerce. Bitcoin was…
Bitcoin and blockchain in general is a hot topic nowadays. In the paper we propose a quantum empowering of this technology and show how to speed-up the mining procedure using the modified Grover's algorithm.
Advances in quantum computing introduce long-term security challenges for widely deployed public-key cryptographic systems used across blockchain platforms and decentralized applications. Although post-quantum cryptography (PQC) standards…