The decentralized cryptocurrency Bitcoin has experienced great success but also encountered many challenges. One of the challenges has been the long confirmation time. Another challenge is the lack of incentives at certain steps of the protocol, raising concerns for transaction withholding, selfish mining, etc. To address these challenges, we propose Solida, a decentralized cryptocurrency based...

Decrits is a cryptocurrency in development that makes use of a novel consensus algorithm that does not require proof-of-work. This paper describes how the Decrits Consensus Algorithm (DCA) is as trustless as a proof-of-work algorithm while offering superior transaction security at virtually no cost. Cryptocurrency: A digital construction of classical money that is protected from duplication and...

Cryptocurrency, a form of digital currency that has an open and decentralized system and uses cryptography to enhance security and control the creation of new units, is touted to be the next step from conventional monetary transactions. Many cryptocurrencies exist today, with Bitcoin being the most prominent of them. Cryptocurrencies are generated by mining, as a fee for validating any transact...

Digital payment systems are an evolving field in present day with the recent enhancements in seamless digital currencies. Thus, despite the benefits of cryptocurrency based digital payments systems, their adoption and diffusion within general payment platform domain are significantly hindered. The blockchain architecture is widely recognized as a promising mechanism to support the management of...

We present three smart contracts that allow a briber to fairly exchange bribes to miners who pursue a mining strategy benefiting the briber. The first contract, CensorshipCon, highlights that Ethereum’s uncle block reward policy can directly subsidise the cost of bribing miners. The second contract, HistoryRevisionCon, rewards miners via an in-band payment for reversing transactions or enforcin...

Heretofore the concept of “blockchain” has not been precisely defined. Accordingly the potential useful applications of this technology have been largely inflated. This work sidesteps the question of what constitutes a blockchain as such and focuses on the architectural components of the Bitcoin cryptocurrency, insofar as possible, in isolation. We consider common problems inherent in the desig...

Since its introduction in 2009, Bitcoin has become the most successful cryptocurrency ever deployed. However, the currency’s dramatic expansion has also raised serious concerns about its long-term sustainability: (1) Bitcoin mining dynamics have shifted away from decentralization, as dedicated hardware and entry of governments and energy producers has gradually placed most mining power in the h...

A cryptocurrency system can be understood as a intended for the issuance of tokens which are to used general or limited-purpose medium-of-exchange, and accounted using an often collectively-maintained digital ledger making use cryptography replace trust in institutions varying extents. Against such backdrop, singular term mean token, issued via system.

Cryptocurrency networks have given birth to a diversity of start-ups and attracted a huge influx of venture capital to invest in these start-ups for creating and capturing value within and between such networks. Synthesizing strategic management and information systems (IS) literature, this study advances a unified theoretical framework for identifying and investigating how cryptocurrency compa...

(2017) Towards a post-cash society: an application to convert fiat money into a cryptocurrency. This document is made available in accordance with publisher policies and may differ from the published version or from the version of record. If you wish to cite this item you are advised to consult the publisher's version. Please see the URL above for details on accessing the published version. Cop...