相关论文: Block arrivals in the Bitcoin blockchain

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…

As blockchains continue to seek to scale to a larger number of nodes, the communication complexity of protocols has become a significant priority as the network can quickly become overburdened. Several schemes have attempted to address…

The first obstacle that regular users encounter when setting up a node for a public blockchain is the time taken for downloading all the data needed for the node to start operating correctly. In fact, this may last from hours to weeks for…

A key challenge for Bitcoin cryptocurrency holders, such as startups using ICOs to raise funding, is managing their FX risk. Specifically, a misinformed decision to convert Bitcoin to fiat currency could, by itself, cost USD millions. In…

Bitcoin is the most secure blockchain in the world, supported by the immense hash power of its Proof-of-Work miners. Proof-of-Stake chains are energy-efficient, have fast finality but face several security issues: susceptibility to…

We study the following problem that is motivated by Blockchains where ``miners'' are serially given the monopoly for assembling transactions into the next block. Our model has a single good that is sold repeatedly every day where new demand…

In many blockchains, e.g., Ethereum, Binance Smart Chain (BSC), the primary representation used for wallet addresses is a hardly memorable 40-digit hexadecimal string. As a result, users often select addresses from their recent transaction…

We argue that the current POW based consensus algorithm of the Bitcoin network suffers from a fundamental economic discrepancy between the real world transaction (txn) costs incurred by miners and the wealth that is being transacted. Put…

At the heart of the Bitcoin is a blockchain protocol, a protocol for achieving consensus on a public ledger that records bitcoin transactions. To the extent that a blockchain protocol is used for applications such as contract signing and…

We study the strategic considerations of miners participating in the bitcoin's protocol. We formulate and study the stochastic game that underlies these strategic considerations. The miners collectively build a tree of blocks, and they are…

Since its 2009 genesis block, the Bitcoin network has processed >1.08 billion (B) transactions representing >8.72B BTC, offering rich potential for machine learning (ML); yet, its pseudonymity and obscured flow of funds inherent in its…

In this work, we present our early stage results on a Conflicts Check Protocol (CCP) that enables preventing potential attacks on bitcoin system. Based on the observation and discovery of a common symptom that many attacks may generate, CCP…

The mining of bitcoin is modeled using system dynamics, showing that the past evolution of the network hash rate can be explained to a large extent by an efficient market hypothesis applied to the mining of blocks. The possibility of a…

Committee-based blockchains are among the most popular alternatives of proof-of-work based blockchains, such as Bitcoin. They provide strong consistency (no fork) under classical assumptions, and avoid using energy-consuming mechanisms to…

Blockchain is a growing decentralized system built for transparency and immutability. There have been several major attacks on blockchain-based systems, leaving a gap in the trustability of this system. This article presents a comprehensive…

Digital payment schemes show an ever increasing importance. Out of the countless different schemes available this article focuses on the popular Bitcoin system. The authors provide a description of Bitcoin's unique technological basis and…

The Bitcoin payment system involves two agent types: Users that transact with the currency and pay fees and miners in charge of authorizing transactions and securing the system in return for these fees. Two of Bitcoin's challenges are (i)…

We define and examine the shutdown problem for blockchain systems: how to gracefully end the system's operation at the end of its useful life. A particular focus is those blockchain systems that hold archival data of long-lived interest. We…

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…

Bitcoin is the world's first decentralized digital currency. Its main technical innovation is the use of a blockchain and hash-based proof of work to synchronize transactions and prevent double-spending the currency. While the qualitative…