Related papers: When Can You Trust Bitcoin? Value-Dependent Block …
Bitcoin derives a verifiable temporal order from probabilistic block discovery and cumulative proof-of-work rather than from a trusted global clock. We show that block arrivals exhibit stable exponential behavior across difficulty epochs,…
We prove Bitcoin is secure under temporary dishonest majority. We assume the adversary can corrupt a specific fraction of parties and also introduce crash failures, i.e., some honest participants are offline during the execution of the…
The application of Bitcoin enables people to understand blockchain technology gradually. Bitcoin is a decentralized currency that does not rely on third-party credit institutions, and the core of Bitcoin's underlying technology is…
Bitcoin is the first and the most extensive decentralized electronic cryptocurrency system that uses blockchain technology. It uses a peer-to-peer (P2P) network to operate without a central authority and propagate system information such as…
This paper presents a comprehensive refutation of the so-called "blockchain trilemma," a widely cited but formally ungrounded claim asserting an inherent trade-off between decentralisation, security, and scalability in blockchain protocols.…
We revisit the fundamental question of Bitcoin's security against double spending attacks. While previous work has bounded the probability that a transaction is reversed, we show that no such guarantee can be effectively given if the…
A Confirmation Rule, within blockchain networks, refers to an algorithm implemented by network nodes that determines (either probabilistically or deterministically) the permanence of certain blocks on the blockchain. An example of…
In Bitcoin, transaction malleability describes the fact that the signatures that prove the ownership of bitcoins being transferred in a transaction do not provide any integrity guarantee for the signatures themselves. This allows an…
Modern blockchain systems are a fresh look at the paradigm of distributed computing, applied under assumptions of large-scale public networks. They can be used to store and share information without a trusted central party. There has been…
A cryptocurrency is a decentralized digital currency that is designed for secure and private asset transfer and storage. As a currency, it should be difficult to counterfeit and double-spend. In this paper, we review and analyze the major…
Blokchain is a promising technology to enable distributed and reliable data sharing at the network edge. The high security in blockchain is undoubtedly a critical factor for the network to handle important data item. On the other hand,…
Blockchain is a decentralized ledger used to securely exchange digital currency, perform deals and transactions efficient manner, each user of the network has access to the least copy of the encrypted ledger so that they can validate a new…
As an innovative technology for enhancing authenticity, security, and risk management, blockchain is being widely adopted in trade and finance systems. The unique capabilities of blockchain, such as immutability and transparency, enable new…
Blockchain systems run consensus rules as code to agree on the state of the distributed ledger and secure the network. Changing these rules can be risky and challenging. In addition, it can often be controversial and take much effort to…
Blockchain technology is an interlinked systematic chain of blocks that contains transaction history and other user data. It works under the principle of decentralized distributed digital ledger. This technology enables cryptographically…
Blockchain is a continuously developing technology that has made digital transactions and related computing operations more transparent and secure through globally distributed and decentralized management of states, as well as the strong…
We consider blockchain in dynamic networks. We define the Blockchain Decision Problem. It requires miners that maintain the blockchain to confirm whether a particular block is accepted. We establish the necessary conditions for the…
What happens to mining when the Bitcoin price changes, when there are mining supply shocks, the price of energy changes, or hardware technology evolves? We give precise answers based on the technical forces and incentives in the system. We…
The blockchain data structure maintained via the longest-chain rule---popularized by Bitcoin---is a powerful algorithmic tool for consensus algorithms. Such algorithms achieve consistency for blocks in the chain as a function of their depth…
Transaction throughput, confirmation latency and confirmation reliability are fundamental performance measures of any blockchain system in addition to its security. In a decentralized setting, these measures are limited by two underlying…