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Enhancing Bitcoin Security and Performance with Strong Consistency via Collective Signing [article]

Eleftherios Kokoris-Kogias, Philipp Jovanovic, Nicolas Gailly, Ismail Khoffi, Linus Gasser, Bryan Ford
2016 arXiv   pre-print
This paper introduces ByzCoin, a novel Byzantine consensus protocol that leverages scalable collective signing to commit Bitcoin transactions irreversibly within seconds.  ...  ByzCoin mitigates double spending and selfish mining attacks by producing collectively signed transaction blocks within one minute of transaction submission.  ...  Acknowledgments We would like to thank the DeterLab project team for providing the infrastructure for our experimental evaluation, Joseph Bonneau for his input on our preliminary design, and the anonymous  ... 
arXiv:1602.06997v3 fatcat:l6hteedm6bcwpnrrsstwjew3xy

Strong Federations: An Interoperable Blockchain Solution to Centralized Third-Party Risks [article]

Johnny Dilley, Andrew Poelstra, Jonathan Wilkins, Marta Piekarska, Ben Gorlick, Mark Friedenbach
2017 arXiv   pre-print
Strong Federations enable commercial privacy, with support for transactions where asset types and amounts are opaque, while remaining publicly verifiable.  ...  As in Bitcoin, execution fidelity is cryptographically enforced; however, Strong Federations significantly lower capital requirements for market participants by reducing transaction latency and improving  ...  ACKNOWLEDGEMENTS We thank Matt Corallo and Patrick Strateman for their substantial commentary and contribution in the formation of the ideas and process behind this paper.  ... 
arXiv:1612.05491v3 fatcat:y26ruv4uxze6xkqb5kmsawy73q

Daily Cryptocurrency Returns Forecasting and Trading via Machine Learning

Andrew Falcon, Tianshu Lyu
2021 Journal of student research  
We apply eight machine learning models to the dataset, utilizing them as classifiers to predict the sign of next day price returns for the three largest cryptocurrencies by market capitalization: bitcoin  ...  At length, we construct a probability-based trading strategy that secures either a daily long or short position on one of the three examined cryptocurrencies.  ...  We also thank Lumiere Education for facilitating the relationship with Tianshu Lyu and for their general support in the formulation of the research paper.  ... 
doi:10.47611/jsrhs.v10i4.2217 fatcat:w5647stsnjemfhqp3e5rr7ci5m

Blockchain-Based Database To Ensure Data Integrity In Cloud Computing Environments

E. Gaetani, L. Aniello, F. Lombardi, A. Margheri, V. Sassone
2017 Zenodo  
Threats to data integrity are thus of paramount relevance, as tampering with data may maliciously affect crucial business decisions.  ...  In this paper, by focusing on a case study from the European SUNFISH project, which concerns the design of a secure by-design cloud federation platform for the public sector, we precisely delineate the  ...  These evidences are stored with strong data integrity guarantees but with poor performance.  ... 
doi:10.5281/zenodo.1169256 fatcat:tcgp6hgjmjea7enirqazbybpjm

Improving the Performance of Proof of Work-Based Bitcoin Mining Using CUDA

Seid Mehammed, Dagmawi Lemma
2022 Zenodo  
On the other hand, the high-threaded CUDA architecture has become with enhanced performance for a various range of computation and memory-intensive applications.  ...  POW-based bitcoin mining is a well-known problem of computational and memory-intensive algorithms.  ...  Cryptocurrency uses strong cryptographic algorithms to monitor decentralize and secure cryptocurrency transactions.  ... 
doi:10.5281/zenodo.5910834 fatcat:qtis36ooazdyrmoofzpvzq4pii

Security and Privacy on Blockchain [article]

Rui Zhang, Rui Xue, Ling Liu
2019 arXiv   pre-print
Many consider blockchain as a technology breakthrough for cryptography and cybersecurity, with use cases ranging from globally deployed cryptocurrency systems like Bitcoin, to smart contracts, smart grids  ...  We conjecture that this survey can help readers to gain an in-depth understanding of the security and privacy of blockchain with respect to concept, attributes, techniques and systems.  ...  The blockchain in Bitcoin adopts a consistency model that seeks a better tradeoff between strong consistency and eventual consistency for achieving partition tolerance (P) and consistency (C) with deferred  ... 
arXiv:1903.07602v2 fatcat:tyoyeyyvv5ggde3eqopytdqly4

How do Bitcoin users manage their private keys?

Gunnar Lindqvist, Joakim Kävrestad, Dennis Modig, Ali Mohammad Padyab
2021 International Workshop on Socio-Technical Perspective in IS Development  
The results showed that users employed technologies to enhance the protection of their Bitcoin private keys, such as encryption and multi-signature.  ...  The fundamental characteristics of trustless and secure sound money have made it appealing to people.  ...  Acknowledgments Thanks to the developers of ACM consolidated LaTeX styles acmart and to the developers of Elsevier updated L A T E X templates  ... 
dblp:conf/stpis/LindqvistKMP21 fatcat:dkhrasa6uzeipnqxatlibyujla

A Survey on Security and Privacy Issues of Bitcoin

Mauro Conti, Sandeep Kumar E, Chhagan Lal, Sushmita Ruj
2018 IEEE Communications Surveys and Tutorials  
Additionally, we present current privacyand anonymity considerations in Bitcoin and discuss the privacy-related threats to Bitcoin users along with the analysis of theexisting privacy-preserving solutions  ...  Finally, we summarize thecritical open challenges and suggest directions for future researchtowards provisioning stringent security and privacy techniquesfor Bitcoin.  ...  , improve privacy, fungibility and scalability vulnerable to DoS attacks, not compatible with smart contracts ByzCoin [131] Altcoin Bitcoin-like cryptocurrency with strong consistency via collective  ... 
doi:10.1109/comst.2018.2842460 fatcat:dueceve54nhlzdk3vrpmbb6oc4

Enhancement of digital signature algorithm in bitcoin wallet

Farah Maath Jasem, Ali Makki Sagheer, Abdullah M. Awad
2021 Bulletin of Electrical Engineering and Informatics  
Weaknesses in such algorithms can significantly affect the safety and the security of bitcoin wallets.  ...  The execution time for signing a transaction of the proposed model is~70 millisecond, which is then important in the bitcoin domain.  ...  This paper aims to study the bitcoin system design and analyze its strengths and weaknesses with attention given to key management issues, enhancing the security of ECDSA through increasing the security  ... 
doi:10.11591/eei.v10i1.2339 fatcat:vz2xyb77sffxdmxaymm7efpbu4

RSK: A Bitcoin sidechain with stateful smart-contracts [article]

Sergio Demian Lerner, Javier Álvarez Cid-Fuentes, Julian Len, Ramsès Fernàndez-València, Patricio Gallardo, Nicolás Vescovo, Raúl Laprida, Shreemoy Mishra, Federico Jinich, Diego Masini
2022 IACR Cryptology ePrint Archive  
Among other features, RSK provides a highly secure mechanism to transfer bitcoins from Bitcoin and back, and implements a merged mining protocol that provides Bitcoin miners with additional fees without  ...  While Bitcoin provides the most secure digital asset, Ethereum provides the smart contract execution platform with the richest application ecosystem.  ...  Instead, RSK enhances the Bitcoin network and allows Bitcoin miners to claim extra fees by merge mining RSK blocks with no additional cost.  ... 
dblp:journals/iacr/LernerCLFGVLMJM22 fatcat:fgxdkfycrnf7dmuxmidxm4tvaa

The Evaluation of Block Chain Technology within the Scope of Ripple and Banking Activities

Erdogan Kaygin, Yunus Zengin, Ethem Topcuoglu, Serdal Ozkes
2021 Journal of Central Banking Theory and Practice  
As a result of those changes, thousands of currencies such as bitcoin, ripple, litecoin and ethereum have evolved and have found a use in business.  ...  It has been stated that the money transfer performed through Ripple is faster and more economical when compared to present systems.  ...  The use of Bitcoin in processes such as laundering, illegal sale of drugs and weapons, child pornography is quite common. 46% of transactions performed by 26% of total Bitcoin users consist of illegal  ... 
doi:10.2478/jcbtp-2021-0029 fatcat:7r5sgfzj4vdydeh5bmsaaboqyu

Anomaly Detection in Blockchain Networks: A Comprehensive Survey [article]

Muneeb Ul Hassan, Mubashir Husain Rehmani, Jinjun Chen
2022 arXiv   pre-print
Peer-to-peer (P2P) architecture of blockchain enhances these applications by providing strong security and trust-oriented guarantees, such as immutability, verifiability, and decentralization.  ...  may still be prone to various security, privacy, and reliability issues.  ...  Peer-to-peer (P2P) architecture of blockchain enhances these applications by providing strong security and trust-oriented guarantees, such as immutability, verifiability, and decentralization.  ... 
arXiv:2112.06089v3 fatcat:hiwz3s5hvzf3bbqszfdzaqpifm

Blockchain Technology for Intelligent Transportation Systems: A Systematic Literature Review

Rateb Jabbar, Eya Dhib, Ahmed ben Said, Moez Krichen, Noora Fetais, Esmat Zaidan, Kamel Barkaoui
2022 IEEE Access  
It is regarded as a decentralized, trustworthy, secure, transparent, and immutable solution that innovates data sharing and management.  ...  by Bitcoin implementation and common consensus protocols), and finally, the Blockchain 2.0 phase (characterized by the implementation of smart contracts, Ethereum, and Hyperledger).  ...  As given by Equation 1, M' is consistently encrypted or signed by the sender's private key: M ′ = Sign(P rivateKey(P rvS); M essage(M )) (1) where PrvS is the private key of sender S.  ... 
doi:10.1109/access.2022.3149958 fatcat:cz353bpluzgbfkpqt23vweinde

An Integrated Architecture for Maintaining Security in Cloud Computing Based on Blockchain

Ruba Awadallah, Azman Samsudin, Je Sen Teh, Mishal Almazrooie
2021 IEEE Access  
We found that Ethereum leads to lower client financial costs and better online performance than Bitcoin.  ...  Data can be tampered with, and malicious actors could use this to their advantage.  ...  Step 3 -Signing transaction and broadcasting to the Bitcoin network: When spending from a multisig address, both the CSP and client need to sign the encoded transaction with their private key.  ... 
doi:10.1109/access.2021.3077123 fatcat:sc7zzweddjaklewlr7lyxvxfjm

Evaluating Tooling and Methodology when Analysing Bitcoin Mixing Services After Forensic Seizure [article]

Edward Henry Young, Christos Chrysoulas, Nikolaos Pitropakis, Pavlos Papadopoulos, William J Buchanan
2021 arXiv   pre-print
to provide enhanced confidentiality and Wasabi wallet which uses CoinJoin to mix and obfuscate crypto currencies.  ...  Little or no research has been directed to analysis and researching forensic analysis of the Bitcoin mixing or 'tumbling' service themselves.  ...  Users create a key pair, which consists of a public key which identifies the account to the world, and a private key, which is used to cryptographically sign transactions.  ... 
arXiv:2110.01970v1 fatcat:vb42gq26archjk743t4ixzairy
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