David Sheehan
ABSTRACT
The Emerging Blockchain technologies have earned substantial attention in the area of Financial Technology in recent years. Its decentralized environment allows for the mining of Bitcoins by miners either independently or in groups. The community of miners have faith in the integrity of each other to sustain the network, through mining pools remaining at a reasonable level of mining power. Blockchain's decentralized system is one of its main selling points and is a source of great attraction for users. However, when these mining pools start to grow and increase their mining power to dangerous levels it can result in a shift towards a centralized environment. This push goes against foundational principles of Bitcoin, leading to ongoing debate among various stakeholders.
- Hashrate Distribution. Blockchain.info, 2017. https://blockchain.info/pools?timespan=24hours.Google Scholar
- CryptoCurrency Market Capitalizations. Coinmarketcap.com, 2016. https://coinmarketcap.com/.Google Scholar
- Bamert, T., Decker, C., Elsen, L., Wattenhofer, R. and Welten, S. Have a Snack, Pay with Bitcoins. International Conference on Peer-to-Peer Computing, (2013), (pp. 1--5).Google Scholar
- Barber, S., Boyen, X., Shi, E. and Uzun, E. Bitter to Better --- How to Make Bitcoin a Better Currency. International Conference on Financial Cryptography and Data Security, (2012), (pp. 399--414).Google ScholarCross Ref
- Dion, D. I'll Gladly Trade You Two Bits On Tuesday For a Byte Today: Bitcoin, Regulating Fraud In The Economy of Hacker-Cash. University of Illinois Journal of Technology and Policy, (2013), (pp. 165--201).Google Scholar
- Eyal, I. The Miner's Dilemma. IEEE Symposium on Security and Privacy, (2015), (pp. 89--103). Google ScholarDigital Library
- Eyal, I. and Gun Sirer, E. Bitcoin is Broken. Hacking Distributed, (2013).Google Scholar
- Fabian, B., Ermakova, T. and Sander, U. Anonymity in Bitcoin - The Users' Perspective. International Conference on Information Systems, (2016).Google Scholar
- Goel, S. Blockchain: The next big thing in technology?. The Economic Times, 2016.Google Scholar
- Johnson, B., Laszka, A., Grossklags, J., Vasek, M. and Moore, T. Game-Theoretic Analysis of DDoS Attacks Against Bitcoin Mining Pools. International Conference on Financial Cryptography and Data Security, (2014), (pp. 72--86).Google Scholar
- Nakamoto, S. Bitcoin: A Peer-to-Peer Electronic Cash System. (2008).Google Scholar
- Peters, G. and Panayi, E. Understanding Modern Banking Ledgers through Blockchain Technologies: Future of Transaction Processing and Smart Contracts on the Internet of Money. (2015).Google Scholar
- Walsh, C., O'Reilly, P., Gleasure, R., Feller, J., Li, S. and Cristiforo, J. New kid on the block: A strategic archetypes approach to understanding the Blockchain. International Conference on Information Systems, (2016).Google Scholar
- deMeijer, C. The UK and Blockchain technology: A balanced approach. Journal of Payments and Strategy, (2015), (pp. 220--229).Google Scholar
- Litecoin Miners Urged to Leave Coinotron Pool Over 51% Threat. CoinDesk, 2014. http://www.coindesk.com/litecoin-miners-urged-leave-coinotron-51-threat/.Google Scholar
- Krypton Recovers from a New Type of 51% Network Attack - Crypto Hustle. Crypto Hustle, 2016. https://cryptohustle.com/krypton-recovers-from-a-new-type-of-51-network-attack.Google Scholar
- Dowd, K. and Hutchinson, M. Bitcoin Will Bite the Dust. Cato Journal, (2015), (pp. 357--382).Google Scholar
Recommendations
Bitcoin price prediction using ARIMA model
Bitcoin is a highly volatile cryptocurrency with rising popularity. It is a turning point in the way currency is seen. Now the currency, rather than being physical is becoming more and more digital. Due to high variance of solo mining, the number of users ...
Comments