Cryptocurrencies like Bitcoin have provided a platform for parties to transfer digital value in a decentralised way. However, to support scalability, the amount of extra data that can be attached to a transaction is very limited, greatly limiting the possibility of attaching descriptive metadata to them with the same guarantees that the Blockchain In this paper we study the problem of attaching...

In recent years, digital innovations especially emerged depend on Blockchain technology have caused a substantial transformation in the finance sector as other sectors. Different financial assets been revealed and began to be used an investment tool along with this markets. Cryptocurrencies that structure hold important place among these assets. Dramatically increases daily transaction volume o...

Proof-of-work (PoW) schemes are cryptographic primitives with numerous applications, and in particular, they play a crucial role in maintaining consensus in cryptocurrency networks. Ideally, a cryptocurrency PoW scheme should have several desired properties, including efficient verification on one hand, and high memory consumption of the prover’s algorithm on the other hand, making the scheme l...

This paper sets out a brief, deliberately non-technical, overview of Bitcoin, a new, but becoming more mainstream, crypto currency, generated and managed by a distributed multi–agent system. Bitcoin was developed in late 2008 by “Satoshi Nakamoto”. The nature of Bitcoin as a disruptive currency, payments system and asset, is juxtaposed against the potential for its transactional ledger, the blo...

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We describe the successful introduction of cryp-tology into a new application area-protecting pre-payment electricity meters from token fraud. These meters are used by a number of utilities from Scotland to South Africa, and they present some interesting security challenges.

Designed to compete with fiat currencies, bitcoin proposes it is a crypto-currency alternative. Bitcoin makes a number of false claims, including: bitcoin can be a reserve currency for banking; hoarding equals saving; and that we should believe bitcoin can expand by deflation to become a global transactional currency supply. Bitcoin’s developers combine technical implementation proficiency with...

INTRODUCTION TO MEAN-REVERTING PROCESS Although the mean-reverting phenomenon appears to violate the definition of independent events, it simply reflects the fact that the probability density function of any random variable , by definition, is nonnegative over every interval and integrates to one over the interval . Thus, as moves away from the mean, the proportion of the distribution that lies...

The article analyzes the correspondence of emergence cryptocurrencies to two important theoretical ideas Austrian school economics - regression theorem L. von Mises and concept denationalization money by F. Hayek. analysis shows consistency new economic phenomenon with theorem, since posses-sion bitcoin as an asset confirms presence some value before being used a medi-um exchange. Cryptocurrenc...