Bitter to Better — How to Make Bitcoin a Better Currency

  • Simon Barber
  • Xavier Boyen
  • Elaine Shi
  • Ersin Uzun
Part of the Lecture Notes in Computer Science book series (LNCS, volume 7397)

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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