Related papers: Exploring the Bitcoin Mesoscale
Bitcoin has created a new exchange paradigm within which financial transactions can be trusted without an intermediary. This premise of a free decentralized transactional network however requires, in its current implementation, unrestricted…
Despite the fact that it is publicly available, collecting and processing the full bitcoin blockchain data is not trivial. Its mere size, history, and other features indeed raise quite specific challenges, that we address in this paper. The…
We study the real economic activity in the Bitcoin blockchain that involves transactions from/to retail users rather than between organizations such as marketplaces, exchanges, or other services. We first introduce a heuristic method to…
We study the dependency and causality structure of the cryptocurrency market investigating collective movements of both prices and social sentiment related to almost two thousand cryptocurrencies traded during the first six months of 2018.…
Bitcoin inscription marks a pivotal moment in blockchain technology. This report presents a primary exploration of Bitcoin inscriptions. We dive into the technological underpinnings and offer a detailed comparative analysis between Bitcoin…
In this paper, we study the possibility of inferring early warning indicators (EWIs) for periods of extreme bitcoin price volatility using features obtained from Bitcoin daily transaction graphs. We infer the low-dimensional representations…
The Bitcoin protocol allows to save arbitrary data on the blockchain through a special instruction of the scripting language, called OP_RETURN. A growing number of protocols exploit this feature to extend the range of applications of the…
The Bitcoin network is burning a large amount of energy for mining. In this paper we estimate the lower bound for the global energy cost for a period of ten years from 2010, taking into account changing oil costs, improvements in hashing…
Bitcoin, as one of the most popular cryptocurrency, is recently attracting much attention of investors. Bitcoin price prediction task is consequently a rising academic topic for providing valuable insights and suggestions. Existing bitcoin…
Economic periods and financial crises have highlighted the importance of evaluating financial markets to investors and researchers in recent decades.
This research delves into the intricacies of Bitcoin, a decentralized peer-to-peer network, and its associated blockchain, which records all transactions since its inception. While this ensures integrity and transparency, the transparent…
Using 1-min returns of Bitcoin prices, we investigate statistical properties and multifractality of a Bitcoin time series. We find that the 1-min return distribution is fat-tailed, and kurtosis largely deviates from the Gaussian…
In this paper, we explore some stylized facts of the Bitcoin market using the BTC-USD exchange rate time series of historical intraday data from 2013 to 2020. Bitcoin presents some very peculiar idiosyncrasies, like the absence of…
The Bitcoin Lightning Network is a Layer 2 payment protocol that addresses Bitcoin's scalability by facilitating quick and cost effective transactions through payment channels. This research explores the feasibility of using machine…
We present Union, a trust-minimized bridge protocol that enables secure transfer of BTC between Bitcoin and a secondary blockchain. The growing ecosystem of blockchain systems built around Bitcoin has created a pressing need for secure and…
Cryptocurrency users increasingly rely on obfuscation techniques such as mixers, swappers, and decentralised or no-KYC exchanges to protect their anonymity. However, at the same time, these services are exploited by criminals to conceal and…
Bitcoin uses blockchain technology to maintain transactions order and provides probabilistic guarantee to prevent double-spending, assuming that an attacker's computational power does not exceed %50 of the network power. In this paper, we…
This paper investigates whether Bitcoin can be regarded as a decentralized autonomous organization (DAO), what insights it may offer for the broader DAO ecosystem, and how Bitcoin governance can be improved. First, a quantitative literature…
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…
This paper presents a formal analysis of the Lightning Network as a monetary system structurally diverging from Bitcoin's base-layer settlement model. We demonstrate that under increasing transaction demand, BTC transaction fees rise…