Transcription of Research Perspectives and Challenges for Bitcoin and ...
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Research Perspectives and Challenges for Bitcoin and ...
SoK: Research Perspectives and Challenges for Bitcoin and CryptocurrenciesJoseph Bonneau , Andrew Miller , Jeremy Clark , Arvind Narayanan , Joshua A. Kroll , Edward W. Felten Princeton University, Stanford University, Electronic Frontier Foundation, University of Maryland, Concordia UniversityAbstract Bitcoin has emerged as the most successful crypto-graphic currency in history. Within two years of its quiet launchin 2009, Bitcoin grew to comprise billions of dollars of economicvalue despite only cursory analysis of the system s design. Sincethen a growing literature has identified hidden-but-importantproperties of the system, discovered attacks, proposed promis-ing alternatives, and singled out difficult future a large and vibrant open-source community hasproposed and deployed numerous modifications and provide the first
quantity of the Bitcoin currency. The precision of this value limits the extent to which units of the currency can be sub-divided; the smallest unit is called a satoshi. By convention, 108 satoshis is considered the primary unit of currency, called one “bitcoin”6 and denoted B, BTC or XBT. Each output also has a short code snippet (in a special
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