Bitter to Better — How to Make Bitcoin a Better Currency

  • Simon Barber
  • Xavier Boyen
  • Elaine Shi
  • Ersin Uzun
Conference paper

DOI: 10.1007/978-3-642-32946-3_29

Part of the Lecture Notes in Computer Science book series (LNCS, volume 7397)
Cite this paper as:
Barber S., Boyen X., Shi E., Uzun E. (2012) Bitter to Better — How to Make Bitcoin a Better Currency. In: Keromytis A.D. (eds) Financial Cryptography and Data Security. FC 2012. Lecture Notes in Computer Science, vol 7397. Springer, Berlin, Heidelberg

Abstract

Bitcoin is a distributed digital currency which has attracted a substantial number of users. We perform an in-depth investigation to understand what made Bitcoin so successful, while decades of research on cryptographic e-cash has not lead to a large-scale deployment. We ask also how Bitcoin could become a good candidate for a long-lived stable currency. In doing so, we identify several issues and attacks of Bitcoin, and propose suitable techniques to address them.

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Copyright information

© Springer-Verlag Berlin Heidelberg 2012

Authors and Affiliations

  • Simon Barber
    • 1
  • Xavier Boyen
    • 1
  • Elaine Shi
    • 2
  • Ersin Uzun
    • 1
  1. 1.Palo Alto Research CenterUSA
  2. 2.University of CaliforniaBerkeleyUSA

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