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Since the creation of Bitcoin, transaction tracking is one of the prominent means for following the movement of Bitcoins involved in illegal activities. Although every Bitcoin transaction is recorded in the blockchain database, which is…
Bitcoin mining is a wasteful and resource-intensive process. To add a block of transactions to the blockchain, miners spend a considerable amount of energy. The Bitcoin protocol, named 'proof of work' (PoW), resembles a lottery and the…
The distributed ledger technology has been widely hailed as the break-through technology. It has realised a great number of application scenarios, and improved workflow of many domains. Nonetheless, there remain a few major concerns in…
In public distributed ledger technologies (DLTs), such as Blockchains, nodes can join and leave the network at any time. A major challenge occurs when a new node joining the network wants to retrieve the current state of the ledger. Indeed,…
In construction, BIM (Building Information Modeling) promises to increase quality of data and to provide a shared, uniform view to all parties. While BIM tools and exchange formats exist, the distribution and safeguarding of data is an…
As an emerging service framework built by combining cryptography, P2P network, consensus mechanism and innovative contract technology, blockchain has been widely used in digital finance, data sharing, message traceability and electronic…
The core of many cryptocurrencies is the decentralised validation network operating on proof-of-work technology. In these systems, validation is done by so-called miners who can digitally sign blocks once they solve a computationally-hard…
Distributed Ledger Technologies (DLTs) promise decentralization, transparency, and security, yet the reality often falls short due to fundamental governance flaws. Poorly designed governance frameworks leave these systems vulnerable to…
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…
Proof of work (PoW), the most popular consensus mechanism for Blockchain, requires ridiculously large amounts of energy but without any useful outcome beyond determining accounting rights among miners. To tackle the drawback of PoW, we…
Blockchain has received attention for its potential use in business. Bitcoin is powered by blockchain, and interest in it has surged in the past few years. It has many uses that need to be modeled. Modeling is used in many walks of life to…
The energy consumption and related carbon emissions of cryptocurrencies such as Bitcoin are subject to extensive discussion in public, academia, and industry. As cryptocurrencies continue their journey into mainstream finance, incentives to…
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…
Blockchain has been proposed to facilitate the enactment of interorganisational business processes. For such processes, blockchain can guarantee the enforcement of rules and the integrity of execution traces - without the need for a…
Blockchains such as Bitcoin and Ethereum execute payment transactions securely, but their performance is limited by the need for global consensus. Payment networks overcome this limitation through off-chain transactions. Instead of writing…
Distributed ledger systems have become more prominent and successful in recent years, with a focus on blockchains and cryptocurrency. This has led to various misunderstandings about both the technology itself and its capabilities, as in…
Cryptocurrencies and Web3 applications based on blockchain technology have flourished in the blockchain research field. Unlike Bitcoin and Ethereum, due to its unique architectural designs in consensus mechanisms, resource management, and…
One decade ago, Bitcoin was introduced, becoming the first cryptocurrency and establishing the concept of "blockchain" as a distributed ledger. As of today, there are many different implementations of cryptocurrencies working over a…
Despite the advantages of decentralization and immutability, blockchain technology faces significant scalability and throughput limitations, which has prompted the exploration of off-chain solutions like payment channels. Adaptor signatures…
Blockchain technology enables secure, transparent data management in decentralized systems, supporting applications from cryptocurrencies like Bitcoin to tokenizing real-world assets like property. Its scalability and sustainability hinge…