Enhancing Bitcoin Security and Performance with Strong Consistency via Collective Signing
- Submitting institution
-
University College London
- Unit of assessment
- 11 - Computer Science and Informatics
- Output identifier
- 16288
- Type
- E - Conference contribution
- DOI
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-
- Title of conference / published proceedings
- SEC'16: Proc. 25th USENIX Conference on Security Symposium
- First page
- 279
- Volume
- -
- Issue
- -
- ISSN
- 0000-0000
- Open access status
- Out of scope for open access requirements
- Month of publication
- August
- Year of publication
- 2016
- URL
-
-
- Supplementary information
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-
- Request cross-referral to
- -
- Output has been delayed by COVID-19
- No
- COVID-19 affected output statement
- -
- Forensic science
- No
- Criminology
- No
- Interdisciplinary
- No
- Number of additional authors
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5
- Research group(s)
-
-
- Citation count
- 114
- Proposed double-weighted
- No
- Reserve for an output with double weighting
- No
- Additional information
- This work introduces ByzCoin, a distributed ledger system featuring a novel Byzantine fault-tolerant consensus protocol that improves transaction latency and throughput between two and three orders of magnitude in comparison to popular Nakamoto-style blockchain systems like Bitcoin and Ethereum. At the same time, ByzCoin improves consistency guarantees mitigating severe attacks, such as double spending and selfish mining, that have affected many other blockchains. The work had a significant impact in academia and industry, lead to countless follow-up research projects, and influenced several blockchain start-ups in their architecture design, including Cypherium, Zilliqa, and Libra, Facebook’s cryptocurrency.
- Author contribution statement
- -
- Non-English
- No
- English abstract
- -