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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.
in May 2010, where one user ordered pizza delivery for another in exchange for 10,000 bitcoins. Since then, an increasing number of merchants and services have adopted Bitcoin and the price has generally risen, reaching a peak of approximately US$1200 per bitcoin in late 2013. Bitcoin’s history has also been colored by its association with crime.
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