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BNC has curated a vast collection of technical and industry white papers covering;

  • Blockchain applications & use cases
  • Cryptography
  • Consensus mechanisms
  • Digital currencies
  • Distributed ledger technology (DLT)
  • and much more

This selection of research has been arranged in alphabetical order by organisation or application title. Feel free to explore and share these resources.


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These are publicly available documents from Blockchain applications, Cryptocurrencies and/or Universities/academic research and all copyrights go to the respective authors/organisations of each paper. If you would like to contribute to our research by suggesting a relevant paper, or to leave feedback, drop us a note on [email protected].  Alternatively, you can submit your research here.






Ambisafe Server: Design Overview 


The goal of this project is to lower the minimal education level that is required for a company to build a cryptocurrency based product. We do this by encapsulating cryptography and database reliability algorithms into a server software product.

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An Analysis of Anonymity in Bitcoin Using P2P Network Traffic

Pennsylvania State UniversityPhilip Koshy, Diana Koshy, and Patrick McDaniel

We propose a novel approach to creating and evaluating such mappings solely using real-time transaction traffic collected over 5 months. We developed heuristics for identifying ownership relationships between Bitcoin addresses and IP addresses. We discuss the circumstances under which these relationships become apparent and demonstrate how nearly 1,000 Bitcoin addresses can be mapped to their likely owner IPs by leveraging anomalous relaying behaviour.

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Anonymous Byzantine Consensus from Moderately-Hard Puzzles - A Model for Bitcoin

University of Central Florida - Andrew Miller, Joseph J. LaViola, Jr.

We present a formal model of synchronous processes without distinct identifiers (i.e., anonymous processes) that communicate using one-way public broadcasts. Our main contribution is a proof that the Bitcoin protocol achieves consensus in this model, except for a negligible probability, when Byzantine faults make up less than half the network. The protocol is scalable, since the running time and message complexity are all independent of the size of the network, instead depending only on the relative computing power of the faulty processes.

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Time Stamping Schemes: A Distributed Point of View


Time stamping is a technique used to prove the existence of a digital document prior to a specific point in time. Today, implemented schemes rely on a centralized server model that has to be trusted. We point out the drawbacks of these schemes, showing that the unique server represent a weak point for the system. We propose an alternative scheme which is based on a network of servers managed by administratively independent entities. This scheme appears to be a trusted and reliable distributed time stamping scheme.

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API Network: Creating a New API Business Ecosystem

API Network

The goal of API Network is to take all the APIs out in the world, and provide a universal mechanism for querying them. APICoin will provide a transparent and distributed way to compensate developers and service providers for their effort.

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Approximate Bitcoin Mining

University of Illinois at Urbana-ChampaignMatthew Vilim, Henry Duwe, Rakesh Kumar

Bitcoin is the most popular cryptocurrency today. A bedrock of the Bitcoin framework is mining, a computation intensive process that is used to verify Bitcoin transactions for proft. We observe that mining is inherently error tolerant due to its embarrassingly parallel and probabilistic nature. We exploit this inherent tolerance to inaccuracy by proposing approximate mining circuits that trade off reliability with area and delay. These circuits can then be operated at Better Than Worst-Case (BTWC) to enable further gains. Our results show that approximation has the potential to increase mining profts by 30%.

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Towards An Ownership Layer for the Internet


One long-standing drawback to the Internet is the hidden ‘artist penalty.’ The very strengths of the Internet make it difficult for creators of digital content to be fairly compensated for their work. This paper describes the implementation and proposes a fix that makes it easy to control one’s intellectual property by constituting a new “ownership layer” on top of the existing Internet.

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AudioCoin (ADC) - A Digital Currency For The Music Industry

AudioCoinKenneth I Foster, Mark P Szymik, David Blundell 

AudioCoin builds on the Peercoin and (by association) Bitcoin protocol to provide a new way to consume music. It breaks down the barriers of traditional e-commerce systems and provides a super cool way for music fans and artists to engage in viral marketing. The main gain is that artists (producers) and music fans (consumers) are rewarded tangibly and thereby rendering the current streaming model both archaic and redundant.

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A Decentralized, Open-Source Platform for Prediction Markets

Augur - Dr. Jack Peterson & Joseph Krug

Augur is a trustless, decentralized platform for prediction markets. It is an extension of Bitcoin Core's source code which preserves as much of Bitcoin's proven code and security as possible. Each feature required for prediction markets is constructed from Bitcoin's input/output-style transactions.

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A Scalable Blockchain Database


This paper describes BigchainDB. BigchainDB lls a gap in the decentralization ecosystem: a decentralized database, at scale. It points to performance of 1 million writes per second throughput, storing petabytes of data, and sub-second latency. The BigchainDB design starts with a distributed database (DB), and through a set of innovations adds blockchain characteristics: decentralized control, immutability, and creation & movement of digital assets.

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Bitcoin: A Peer-to-Peer Electronic Cash System

Satoshi Nakamoto

A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. 

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Teleport: anonymity through off blockchain transaction information transfer - A Dark Paper for BTCD

BitcoinDark Captain James Lee

Teleport uses packages called telepods to send all the information required to make a transaction to the desired recipient, over a secure connection outside of the blockchain. Telepods are cloned by the recipient to prevent double spending, and sent to the next recipient when desired – or else emptied onto a previously-used account on the blockchain again. The contents of the telepod are therefore recorded on the blockchain at the point of cloning. However, if a completely new address is used every time, there is no way to know who has held the telepod over the course of its lifespan. The only thing that may conceivably be inferred is the original creator of the telepod.

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BitCongress Whitepaper


A purely peer to peer version of electronic vote would allow online votes to be sent directly from one party to another without going through a central voting register. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double voting. We propose a solution to the double voting problem using a peer to peer network. The network timestamps elections by hashing them into an ongoing chain of hash based proof of work & proof of tally forming a record that cannot be changed without redoing the proof chain.

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Digital Assets on Public Blockchains

Bitfury Group

Digital asset management is one of promising applications of blockchain technology. Blockchains could provide principal disintermediation between digital asset issuers, application developers and consumers and decouple tasks related to asset management, such as issuance, transaction processing, securing users’ funds and establishing users’ identities. This paper outlines basic components of blockchain-based asset ledgers, as well as their use cases for financial services and for emerging Internet of Things and consumer-to-consumer markets. We describe existing and prospective deployment models for asset ledgers, including multi-asset blockchains, colored coin and metacoin protocols. This paper focuses primarily on Bitcoin-based services and, to a lesser degree, on public blockchains in general.

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Incentive Mechanisms for Securing the Bitcoin Blockchain

Bitfury Group

This white paper studies the two major incentive mechanisms which provide for the security and immutability of the Bitcoin blockchain: block rewards and transaction fees. We examine the role such incentives play in providing the resilience of the Bitcoin blockchain to blockchain reorganization and denial of service attacks, and the sources of blockchain security in the context of emerging off-chain payment methods. Machine-to-machine / Internet of Things payments are also examined due to the enabling impact blockchain technology could have in organizing the decentralized economy. Lastly, we present a methodology for estimating the aggregate transaction fees over the Bitcoin network in the medium term based on existing and emerging Bitcoin applications.

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Block Size Increase

Bitfury Group

Plans of block size increase are a subject of a heated debate in the Bitcoin community. The subject has gained increasing attention since the beginning of 2015, when the size of blocks started to approach the current hard limit of one megabyte. We study arguments or and against block size increase, and we analyze existing proposals by influential Bitcoin developers to increase the block size limit.

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Proof of Stake versus Proof of Work

Bitfury Group

Proof of stake is a consensus mechanism for digital currencies that is an alternative to proof of work used in Bitcoin. The main declared advantages of proof of stake approaches are the absence of expensive computations and hence a lower entry barrier for block generation rewards. In this report, we examine the pros and cons of both consensus systems and show that existing implementations of proof of stake are vulnerable to attacks which are highly unlikely in Bitcoin and proof of work approaches in general.

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Public versus Private Blockchains Part 1: Permissioned Blockchains

Bitfury Group in collaboration with Jeff Garzik

Blockchain-based solutions are one of the major areas of research for institutions, particularly in the financial and the government sectors. There is little disagreement that backbone technologies currently used in these sectors are outdated and need an overhaul to conform to the needs of the times. Distributed or decentralized ledgers in the form of blockchains are one of the most discussed potential solutions to the stated problem. We provide a description of permissioned blockchain systems that could be used in creating secure ledgers or timestamped registries. We contend that the blockchain protocol and data should be accessible to end users to provide a higher level of decentralization and transparency and argue that proof of work could be effectively used in permissioned blockchains as a means of providing and diversifying security.

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Public versus Private Blockchains Part 2: Permissionless Blockchains

Bitfury Group in collaboration with Jeff Garzik

Blockchain-based solutions are one of the major areas of research for financial institutions and in other applications across the globe. There is currently an ongoing debate whether the existing blockchain-based systems (such as Bitcoin and other cryptocurrencies) can be utilized as is in proprietary contexts, and whether their openness and censorship resistance are fitting properties in this case. We provide arguments for the use of permissionless blockchains and open blockchain protocols in creating ledgers and registries, devoting particular attention to the Bitcoin blockchain as the most commercially successful and secure permissionless blockchain. We study potential applications of permissionless chains in proprietary environments, such as colored coins, peer-to-peer payment channels and transaction processing by known validators.

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Mathematical Formalism for Voting Process in Bitcoin

Bitfury Group

We propose a mathematical formalism for the voting process in Bitcoin ecosystem. This formalism can be used to algorithmically determine the best value of a certain parameter (e.g., a block size limit) which will be considered appropriate by all voters. The proposed approach is aimed to clarify vagueness of some proposed voting processes that potentially allows a party with marginal voting power to dictate their conditions to the rest of the network. To solve the problem, we introduce a non-negative dissatisfaction function and minimize its value summed over all votes. The value of the block size limit (and, potentially, other parameters of the protocol) found this way will satisfy voters provided the dissatisfaction function is chosen appropriately.

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Shared Send Untangling in Bitcoin

Bitfury Group - Yuriy Yanovich, Pavel Mischenko & Aleksei Ostrovskiy

This white paper focuses on the existing tangling techniques of “shared send” transactions and presents an approach to detect usage of mixing schemes.

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Bitland Whitepaper

Bitland Global 

The mission of the Bitland Project is to register land and real property ownership and use rights in a secure, easily-accessible electronic format to allow for timely access of ownership and rights information, and to educate people on the importance of strong property rights in the prosperity of the nation.

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Bitmessage: A Peer‐to‐Peer Message Authentication and Delivery System

BitmessageJonathan Warren

Proposed in this paper is a system that allows users to securely send and receive messages, and subscribe to broadcast messages, using a trustless decentralized peer‐to‐peer protocol. Users need not exchange any data beyond a relatively short (around 36 character) address to ensure security and they need not have any concept of public or private keys to use the system. It is also designed to mask non content data, like the sender and receiver of messages, from those not involved in the communication.

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BitNation Whitepaper

BitNation Susanne Tarkowski Tempelhof

Bitnation, founded in 2014 by Susanne Tarkowski Tempelhof, is a for-profit organization powered by the blockchain technology that aggregates both human capital and decentralized applications (DAPPs) in order to provide governance services for a small fee.

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Using Blockchain to Boost Commerce

BitScan Rob Wilson

Open Blockchain technology holds the key to exploiting the many ­billion dollar rewards­ orientated marketing industry, which currently suffers from fractures and frictions that leak value and undermine participation. This paper outlines the disruptive impact that introduction of an industry-­wide reward currency would have in opening up this ecosystem, discusses the specific technical requirements required to do so and proposes an implementation strategy that aligns industry stakeholder, consumer and
investor interests. 

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BitShares: Decentralized Bank & Exchange

BitSharesDaniel Larimer

Cryptocurrencies such as Bitcoin have opened the door to an economic revolution in the information age as significant as the industrial revolution before it. BitShares X is the first experiment in taking the ideas introduced by Bitcoin to the next level by producing trust free digital assets that have the potential to track the price of anything1. In this paper we share the details of how BitShares X is designed and functions.

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Bitshares 2.0: General Overview

BitShares Daniel Larimer

BitShares 2.0 is an industrial-grade decentralized platform built for high-performance financial smart contracts. The decentralized exchange that allows for trading of arbitrary pairs without counterparty risk facilitates only one out of many available features. Market-pegged assets, such as the bitUSD, are crypto tokens that come with all the advantages of traditional cryptocurrencies like bitcoin but trade for at least the value of their underlying asset, e.g. $1. Furthermore, BitShares represents the first decentralized autonomous company that lets its shareholders decide on its future direction and products. This paper gives a brief overview over the whole BitShares platform, recapitulates known blockchain technologies and redefines state-of-the-art.

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Bitshares 2.0: Financial Smart Contract Platform

BitShares - Daniel Larimer

BitShares has created such a technology, and has coined the term “decentralized exchange” (DEX) to describe our Bitcoin 2.0 platform. Currently, it supports trade not only in digital assets, but also traditional financial instruments and securities on the blockchain. The two main tools we provide for the creation of these instruments, market pegged assets (MPA) and user-issued assets (UIA), are discussed in detail in this paper.

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Decentralized Peer to Peer Game Assets Platform, Integration with Third Party Games using Smart Contract

BitShares PLAY

BitShares PLAY is an experiment to demonstrate and validate how a decentralized, autonomous game asset platform might be implemented. The platform features multiple provablyfair games of chance, as well as the ability to integrate various third party games and their asset systems. Shares of PLAY (PLS) are combined with all of the assets of both built in and third party games form a free marketplace and exchange. Systems like this are also known as Decentralized Autonomous Companies (DAC).

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BitShares PLAY Non-technical Whitepaper 

BitShares PLAY

Bitshares PLAY(PLAY in short)Leverages the block chain technology, attempts to establish a decentralized autonomous game platform. Any third party can develop various provably fair games, including types that are never seen before. These games feature entertainment and fairness at the same time. Meanwhile, PLAY embodies the function of random number generation (see appendix for technical details) and custom asset and exchange are accessible to third-party developers, providing fairness and asset issuing with convenience and technical support.

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BitSquare: The Decentalized Bitcoin Exchange


Bitsquare is an open source peer-to-peer application that allows anyone to buy and sell Bitcoin in exchange to national currencies or alternative crypto currencies. Bitsquare protects user’s privacy by using a custom P2P network over Tor , in which every user is a participating node. An all-in-one desktop application (for Linux, OS X and Windows) provides an intuitive user interface and executes the trading protocol.

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BlackCoin’s Proof-of-Stake Protocol v2

Blackcoin Pavel Vasin

The current Proof of Stake protocol has several potential security issues: coin age can be abused by malicious nodes to gain significant network weight to perform a successful double spend. Additionally, due to coin age, honest nodes can abuse the system by staking only on a periodical basis. This does not secure the network. Lastly: in the current system all components of a stake of proof are predictable enough to allow pre-computation of future proof-of-stakes. In this paper a system is proposed to solve said issues.

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From 'Blockchain Hype' to a Real Business Case for Financial Markets

Banca IMI; Bocconi UniversityMassimo Morini

There has been a lot of noise in the press about the great potential uses for financial markets of Bitcoin-related technology, that could be extracted from the Bitcoin world and applied to existing markets to increase efficiency dramatically. Later, there has been a lot of noise about the fact that there is no actual use but all boils down to a generic enthusiasm called Blockchain Hype, and Bitcoin is the only reality where such technology can be fruitfully used. 

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Two Party double deposit trustless escrow in cryptographic networks and Bitcoin

BlackHaloDavid Zimbeck

The signature and scripting system that Bitcoin uses allows for the creation of smart contracts. Also using signatures, it is possible to create accounts that require multiple signatures (multisig accounts) as well as transactions with multiple inputs and outputs. There has been discussion of some of the current weaknesses with smart contracts. We address these weaknesses to make smart contracts immediately accessible on the Bitcoin network. As proposed, this protocol offers a system of commitment schemes and business protocols that greatly reduces the issues of extortion and malleability from two-party escrow.

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Blocks & Chains Decentralized Exchange - A Peershare for exchanging cryptoassets

Blockshares - Jordan Lee, with contributions from Tom Joad and Michael Witrant (aka sigmike)

The arrival of a decentralized exchange has been eagerly anticipated within the cryptoasset community. Exchange hackings and defaults have been a major problem discouraging use of cryptoassets. We will present the design for Blocks & Chains Decentralized Exchange (B&C Exchange), a decentralized exchange where native blockchain assets are traded directly, without the use of proxy assets. 

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Blockstack: A Global Naming and Storage System Secured by Blockchains


In this paper, the authors describe their experiences operating a large deployment of a decentralized PKI service built on top of the Namecoin blockchain. Present in this note are various challenges pertaining to network reliability, throughput, and security that we needed to overcome while registering and updating over 33,000 entries and 200,000 transactions on the Namecoin blockchain. Further, we discuss how our experience informed the design of a new blockchain-based naming and storage system called Blockstack.

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Enabling Blockchain Innovations with Pegged Sidechains


We propose a new technology, pegged sidechains, which enables bitcoins and other ledger assets to be transferred between multiple blockchains. This gives users access to new and innovative cryptocurrency systems using the assets they already own. 

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Verifiable Anonymous Identities and Access Control in Permissioned Blockchains

ChainAnchor - Thomas Hardjono, Alex (Sandy) Pentland

In this paper we address the issue of identity and access control within shared permissioned blockchains. We propose the ChainAchor system that provides anonymous but verifiable identities for entities on the blockchain. ChainAchor also provides access control to entities seeking to submit transactions to the blockchain to read/verify transactions on the the permissioned blockchain. Consensus nodes enforce access control to the shared permissioned blockchain by a simple look-up to a (read-only) list of anonymous members’ public keys. 

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Chainpoint - A scalable protocol for recording data in the blockchain and
generating blockchain receipts

Tierion - Wayne Vaughan, Shawn Wilkinson, Jason Bukowski

A standard for maximizing the scalability of recording data in the blockchain and generating blockchain receipts. Each receipt contains all the information needed to verify the data without relying on a trusted third party.  The original Chainpoint 1.0 specification has been updated based on a year of learning.

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CXC Cash-Register

The CheckoutCoin vision is the creation of a complete alt-coin payments solution that integrates automated dynamic pricing. This advanced dynamic pricing engine is devised to calculate in real-time the liquidation value of an equivalent amount of the base currency (for instance US dollars or Euros). In other words, given defined base pricing in a broader currency the engine can look at the order depth and books across multiple supported exchanges and determine what the real equivalent value is in alt- coin quantity.

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Cinni - Anonymous Transfer/Payments


The primary invention enabling a crypto currency to overcome the double spending problem is the blockchain record. This blockchain record is public and therefore can be used to track payments to and from an address. Proposed is a system to use the CINNI encrypted messaging system and onion routing (similar to TOR) in combination with “reserve relay nodes”, to enable completely anonymous transfers/payments within the blockchain system. This paper is intended to be a simple explanation of the proposed anonymous transfer system, a more detailed explanation of the system will follow after development has been completed.

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CloakCoin PoSA v3.0


CloakCoin is a cryptocurrency designed to facilitate trustless and anonymous, decentralized transfers with PoSA (Proof-of-Stake-Anonymous transfers), and secure, anonymous and decentralized marketplace trading with OneMarket. Cloak is a dual PoW/PoS (Proof of Work, Proof of Stake) coin, which is now in the Proof-of-Stake (interest bearing) stage.

CloakCoin PoSA V3.0 Audit Report

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OneMarket: A Peer-to-Peer Internet Marketplace

CloakCoin - The Dagger

An entirely peer to peer form of internet e-commerce that will permit buyers and sellers to trade with one another without a governing central point of control. The existing Cloakcoin blockchain, a descendant of the Bitcoin protocol, provides a key part in distributing the “public marketplace listings ledger” across an existing p2p network. OneMarket is designed to be a decentralized, trustless, self-organizing, and self-regulating system to facilitate trade.

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Decentralized P2P Crypto Currency Transaction Anonymity via Proof of Stake Protocol Extensions

CloakCoin - Z, Cloak Technical Services Division

"Block chain based crypto currencies of the bitcoin 1.0 generation are by their nature pseudonymous. The Block chain consists of transaction inputs and outputs and the flow of transactions can be correlated to Identify the spender and recipient of coins. In this paper, a system is proposed to provide anonymity of Transactions by extending the existing protocol to broadcast, redeem-on-behalf-of, and forward inputs to Outputs in such a fashion that the origination and recipient cannot be directly linked through block chain Analysis. The proposed solution will be implemented in the cloakcoin alternative crypto currency."

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CloakCoin Cloak System


This document comprises a number of Frequently Asked Questions that have come up in forums and
messages to the CloakCoin development team.

Deutsche Version

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Smart Oracles: A Simple, Powerful Approach to Smart Contracts


Introduced in this paper is an implementation of smart oracles, called Codius (based on the Latin “ius” meaning “law”), which uses Google’s Native Client for code sandboxing.

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CoinShuffle: Practical Decentralized Coin Mixing for Bitcoin?

MMCI, Saarland University - Tim Ruffing, Pedro Moreno-Sanchez, and Aniket Kate

In this paper we propose CoinShuffle, a completely decentralized Bitcoin mixing protocol that allows users to utilize Bitcoin in a truly anonymous manner. CoinShuffle is inspired by the accountable anonymous group communication protocol Dissent and enjoys several advantages over its predecessor Bitcoin mixing protocols.

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Colored Coins BitcoinX

Colored CoinsYoni Assia, Vitalik Buterin, Leor Hakim, Meni Rosenfeld

In this paper we propose CoinShuffle, a completely decentralized Bitcoin mixing protocol that allows users to utilize Bitcoin in a truly anonymous manner. CoinShuffle is inspired by the accountable anonymous group communication protocol Dissent and enjoys several advantages over its predecessor Bitcoin mixing protocols.

Overview of Colored Coins by Meni Rosenfeld, December 4, 2012

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CryptCoin: An Innovative System for Fully Decentralized, Anonymous Transactions With A Unique Method of Public/Private Key Broadcasting


CryptCoin is a new breed of Anonymous cryptographic currency based on X11 hashing algorithm with ongoing Proof of Work mining and sustained Proof of Stake minting, While other anonymous and pseudo-anonymous crypto-currencies take advantage of 'masternodes' and 'mixers', CryptCoin utilizes a more egalitarian way of anonymizing transfers from point A to point B, without charging users a fee for the feature.

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Crypti White Paper

Crypti Foundation

Crypti is a next generation platform that allows for the development and distribution of JavaScript based decentralized applications using an easy to use, fully featured ecosystem. Through Crypti, developers can build, publish, distribute, and monetize their applications within a custom built cryptocurrency powered system that utilizes custom blockchains, smart contracts, cloud storage, and computing nodes; all from within one industry solution.

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Accelerating cryptocurrency adoption through diversified pools, comprehensive user education and human connection

CryptoDEX by Jake Vartanian, Noah Kramer

The Cryptodex model achieves widespread growth in the cryptocurrency market by providing diversified and risk balanced cryptocurrency pools via a user friendly platform, combined with an extensive all levels education portal. Similar to Vanguard, our concept-driven pools circumvent much of the volatility of the current environment by aligning with broad market trends rather than individual ventures.

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Bitter to Better—How to Make Bitcoin a Better Currency

Palo Alto Research Center, University of California, Berkeley - Simon Barber, Xavier Boyen, Elaine Shi, and Ersin Uzun

This paper performs 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. 

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Cryptocurrencies without Proof of Work

Iddo Bentov, Ariel Gabizon, Alex Mizrahi

We study decentralized cryptocurrency protocols in which the participants do not deplete physical scarce resources. Such protocols commonly rely on Proof of Stake, i.e., on mechanisms that extend voting power to the stakeholders of the system. We offer analysis of existing protocols that have a substantial amount of popularity. We then present our novel pure Proof of Stake protocols, and argue that they help in mitigating problems that the existing protocols suffer from.

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Cryptonite: The Mini-Blockchain

Cryptonite - J.D. Bruce

Almost all P2P crypto-currencies prevent double spending and similar such attacks with a bulky “blockchain” scheme, and the ones which do not typically use some sort of pseudo-decentralized solution to manage the transactions. Here we propose a purely P2P crypto-currency scheme where old transactions can be forgotten by the network. Since nodes only require the newest portion of the blockchain in order to sync with the network, we call this portion of the chain the “mini-blockchain”.

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CryptoNote V 2.0

CryptoNoteNicolas van Saberhagen

In this paper, we study and propose solutions to the main deficiencies of Bitcoin. We believe that a system taking into account the solutions we propose will lead to a healthy competition among different electronic cash systems. We also propose our own electronic cash, "CryptoNote", a name emphasizing the next breakthrough in electronic cash.

CryptoNote v 2.0 Annotated | | Review Of Cryptonote White Paper

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Cryptopolitik and the Darknet

Daniel Moore and Thomas Rid

Encryption policy is becoming a crucial test of the values of liberal democracy in the twenty-first century. The trigger is a dilemma: the power of ciphers protects citizens when they read, bank and shop online – and the power of ciphers protects foreign spies, terrorists and criminals when they pry, plot and steal. Encryption bears directly on today’s two top threats, militant extremism and computer-network breaches – yet it enables prosperity and privacy. Should the state limit and regulate the fast-growing use of cryptography? If so, how?

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Decentralized Peer to Peer Game Assets Platform, Integration with Third Party Games using Smart Contract


BitShares PLAY is an experiment to demonstrate and validate how a decentralized, autonomous game asset platform might be implemented. The platform features multiple provably­ fair games of chance, as well as the ability to integrate various third party games and their asset systems. Shares of PLAY (PLS) are combined with all of the assets of both built ­in and third party games form a free marketplace and exchange. Systems like this are also known as Decentralized Autonomous Companies (DAC).

BitShares PLAY Non-technical Whitepaper

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Decentralized Autonomous Organization To Automate Governance (DAO)

Slock it - Christoph Jentzsch

This paper describes the first implementation of Decentralized Autonomous Organization (DAO) code to automate organizational governance and decision-making. The code can be used by individuals working together collaboratively outside of a traditional corporate form. It can also be used by a registered corporate entity to automate formal governance rules contained in corporate by laws or imposed by law. First the DAO concept is described, then minority rights is discussed, and a solution to a "robbing the minority" attack vector is proposed. Finally, a practical implementation of a frst generation DAO entity is provided using smart contracts written in Solidity on the Ethereum blockchain.

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Darkcoin: Peer ­to ­Peer Crypto­Currency with Anonymous Blockchain Transactions and an Improved Proof-of-Work System

Darkcoin - Evan Duffield, Kyle Hagan

Darkcoin is the first privacy centric cryptographic currency based on Satoshi Nakamoto’s Bitcoin. DarkSend, a technology for sending anonymous block transactions is incorporated directly into the client using extensions to the core protocol. An improved proof­of­work using a chain of hashing algorithms replaces the SHA256 algorithm and will result in a slower encroachment of more advanced mining technologies (such as ASIC devices). DarkGravityWave is implemented to provide quick response to large mining power fluctuations.

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Dash: A Privacy­Centric Crypto­Currency

Dash - Evan Duffield, Daniel Diaz

A crypto­currency based on Bitcoin, the work of Satoshi Nakamoto, with various improvements such as a two­tier incentivized network, known as the Masternode network. Included are other improvements such as Darksend, for increasing fungibility and InstantX which allows instant transaction confirmation without a centralized authority.

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DeKo: An Electricity-Backed Currency Proposal

Thoughtful Capital Group - Nick Gogerty, Joseph Zitoli 

Currencies play an important role in facilitating trade and economic growth. Shifts in currency values may lead to economic dislocations deleterious to trade and growth. Most currencies are issued by government central banks. These central banks hold assets in the form of government debt and gold against the currency they issue. 

SolarCoin is a digital currency distributed to incentivize 97,500 TWh of Solar energy over 40 years.  The basis for this cryptocurrency is the 2011 paper co-authored by Nick Gogerty, of Thoughtful Capital Group, titled “DeKo: An Electricity-Backed Currency Proposal“:

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Digix Whitepaper: The Gold Standard in CryptoAssets

DigixAnthony C. Eufemio, Kai C. Chng Shaun Djie

Digix provides a use case for the tokenisation and documentation of physical assets through its Proof of Asset (PoA) ​protocol. The PoA protocol utilises Ethereum1 and the InterPlanetary Files System (IPFS)2 to track an asset through its chain of custody. This allows for the open and public verification of an asset’s existence without a centralised database. Digix also offers an API allowing other applications to be built on top of our asset tokenisation service.

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Overview of DigixGlobal and DigixDAO


DigixGlobal is the first organization built on Ethereum that tokenizes physical assets onto the Ethereum blockchain, specifically 99.99% London Bullion Market Association (LBMA) approved Gold bars through our Proof of Asset (PoA Protocol). DigixDAO is a suite of smart contract Decentralized Autonomous Organization (DAO) software created and deployed by DigixGlobal on the blockchain, and aims to work with the community to govern and build a 21st century gold standard financial platform on Ethereum.

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Distributed Concurrence Ledgers™ 


This whitepaper describes DisLedger - Distributed Concurrence Ledgers™ (patent pending) an architecture for distributed ledgers tailored for organizations with complex compliance requirements and high value transactions. Concurrence is an alternative to seeking consensus in distributed ledger systems and does not utilize cryptocurrencies, Bitcoin, blockchains, or sidechains. 

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Elastic Project: The Decentralized Supercomputer

Elastic ProjectThe Community, Revision 04

Elastic Coin provides the infrastructure for a decentralized and distributed computation of arbitrary tasks over the internet. In this context, Elastic Coin is built on-top of a crypto currency and provides a market-based mechanism to buy and sell computational resources. Buyers, those who need computational resources, model their problem using Elastic Coin's software development kit and broadcast it, along with a certain amount of ELC coins, to the network. The so-called miners are then motivated to offer their computational resources in exchange for a portion of those ELC coins. The size of this portion depends on the amount of work a miner has contributed in relation to the rest of the network. Using ELC as the driving force, Elastic Coin offers potential buyers a large parallel computation cluster composed of many CPUs, GPUs, FPGAs and other devices supplied by the miners. All at a fair and market driven price.

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Decentralized Computation Platform with Guaranteed Privacy


A peer-to-peer network, enabling different parties to jointly store and run computations on data while keeping the data completely private. Enigma’s computational model is based on a highly optimized version of secure multi-party computation, guaranteed by a verifiable secret-sharing scheme. For storage,  a modified distributed hashtable for holding secret-shared data is used. An external blockchain is utilized as the controller of the network, manages access control, identities and serves as a tamper-proof log of events. Security deposits and fees incentivize operation, correctness and fairness of the system. Similar to Bitcoin, Enigma removes the need for a trusted third party, enabling autonomous control of personal data. For the first time, users are able to share their data with cryptographic guarantees regarding their privacy.

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A Secure Decentralised Generalised Transaction Ledger (Yellow Paper)

Ethereum - Dr. Gavin Wood

The blockchain paradigm when coupled with cryptographically-secured transactions has demonstrated its utility through a number of projects, not least Bitcoin. Each such project can be seen as a simple application on a decentralised, but singleton, compute resource. We can call this paradigm a transactional singleton machine with shared-state.

Ethereum implements this paradigm in a generalised manner. Furthermore it provides a plurality of such resources, each with a distinct state and operating code but able to interact through a message-passing framework with others. We discuss its design, implementation issues, the opportunities it provides and the future hurdles we envisage.

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Blockchain: Powering the Internet of Value


This paper is the result of a research project carried out by Labs in EVRY Financial Services during the fall of 2015. The content of this report is the result of a comprehensive study, featuring online sources, literary works, as well as recordings of financial conferences such as Consensus 2015 and Fintech Week 2015. We aim to provide a comprehensive report detailing the opportunities, challenges and key success factors for financial institutions looking to leverage the opportunities presented by blockchain technology.

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A Ternary Division DAO

Expanse Christopher Franko, James Clayton, Dan Conway 

The purpose of this Whitepaper is to explain the advantages a Ternary Division DAO has for creating transparency, integrity, and longevity for an organization, while also offering a great deal of community participation. We will provide descriptions, examples and flowcharts to help simplify understanding the concept of the Ternary Division DAO; How it offers innovative advantages over past organizations in terms of solving problems of institutional corruption, external financing requirements, incentivization of development, and involvement of the community in project management without being controlled or influenced by external entities.

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