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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.


Business Processes Secured by Immutable Audit Trails on the Blockchain

FactomPaul Snow, Brian Deery, Jack Lu, David Johnston, Peter Kirby

In this paper, we describe how Factom creates a distributed, autonomous protocol to cost effectively separate the Bitcoin blockchain from the Bitcoin cryptocurrency. We discuss client- defined Chains of Entries, client-side validation of Entries, a distributed consensus algorithm for recording Entries, and a blockchain anchoring approach for security.

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Factom Ledger by Consensus

FactomPaul Snow, Brian Deery, Jack Lu, David Johnston, Peter Kirby

This paper goes over the architecture of Factom, and describes how its components fit together. We discuss a set of attacks, and demonstrate that as long as more than half of the participants are honest, and run the protocol as defined, Factom will perform as needed. Performance slows with increased dishonesty among system actors, however. As actors fail to perform, they are replaced with new actors.

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Fair Two-Party Computations via Bitcoin Deposits

University of WarsawMarcin Andrychowicz, Stefan Dziembowski, Daniel Malinowski and Lukasz Mazurek

This paper shows how the Bitcoin currency system (with a small modification) can be used to obtain fairness in any two-party secure computation protocol in the following sense: if one party aborts the protocol after learning the output then the other party gets a financial compensation (in bitcoins). One possible application of such protocols is the fair contract signing: each party is forced to complete the protocol, or to pay to the other one a fine.

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A Decentralized, Shared, Blockchain­Enabled, Scalable, Modular App Platform That Unleashes The P2P “Internet of People” Economy


Fermat’s central premise is that there is a path to software development that is smarter, better and more efficient than the status quo. The Fermat framework allows anyone from anywhere to collaborate and mutually profit from shared ownership of modular applications: it enables an open­ended stream of micropayments to authors of reusable software components that can be perpetually combined and recombined to create an ever­expanding library of useful, highly­customizable, peer­to­peer commercial applications (apps).

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A Cryptocurrency Operated File Storage Network


Filecoin is a distributed electronic currency similar to Bitcoin. Unlike Bitcoin’s computation-only proof-of-work, Filecoin’s proof-of-work function includes a proof-of-retrievability component, which requires nodes to prove they store a particular file. The Filecoin network forms an entirely distributed file storage system, whose nodes are incentivized to store as much of the entire network’s data as they can. The currency is awarded for storing files, and is transferred in transactions, as in Bitcoin. Files are added to the network by spending currency. This produces strong monetary incentives for individuals to join and work for the network. In the course of ordinary operation of the Filecoin network, nodes contribute useful work in the form of storage and distribution of valuable data.

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Fluttercoin: A Peer-to-Peer Electronic Currency with Proof-of-Transaction


One of the descendants of Bitcoin, Fluttercoin sets itself apart as the first crypto-currency to provide transactions as a proof of participation. Proof-of-transaction adds an additional layer of blockchain and transactional security by allowing economic participants to prove they were involved in a transaction. This system verifies the coinbase of every proof-of-work block, and validity of a proof-of-transaction reward or lack thereof. The result, secures the blockchain as all unmodified nodes will reject invalid blocks that should or shouldn’t have included a proof-of-transaction rewards.

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Fluttercoin: Proof-of-Transaction V2


Key improvements to the original Fluttercoin Proof of Transaction whitepaper, including an increase of frequency in proof-of-transaction rewards, lower proof-of-transaction reward, but large increase in PoT rewards overall. A reduced minimum transaction size for PoT consideration from 500 to 1 FLT.The addition of variable PoT difficulties depending on the number of transactions occurring per block.

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Foldingcoin Whitepaper - Mine Medicine, Not Hashes

FoldingCoin Robert Ross, James Sewell 

FoldingCoin Inc.1​looks to harness computational power used in alternative cryptocurrency blockchains to be better used for medical and scientific projects with goals of solving world problems. In doing so, FoldingCoin Inc. looks to compensate participants with cryptocurrencies built on Counterparty.

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Crypto-Currency using Berkeley Open Infrastructure Network Computing Grid as a Proof Of Work

GridcoinRob Halford

A distributed crypto-currency utilizing a hybrid proof-of-work design based on scrypt, skein, groestl and cubehash for the security portion of the proof of work, and Proof Of Boinc for the remaining portion of the Proof Of Work.

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Analysis of the Cryptocurrency Marketplace

HackMiami Alex Heid

This paper will go over the technical, economic, and social impact of cryptocurrencies such as Bitcoin and Litecoin. This document will go into a comprehensive level of detail about cryptocurrency technologies and protocols, as this is required to familiarize the reader with the principles behind the rapidly emerging open source economic ecosystem. Furthermore, emerging attack vectors of cryptocurrencies will be discussed, such as custom malware campaigns and targeted exploitation.

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Hyperledger Whitepaper


This paper describes industry use cases that drive the principles behind a new blockchain fabric, and outlines the basic requirements and high ­level architecture based  on those use cases. The design presented here describes this evolving blockchain fabric, called Hyperledger, as a protocol for business­-to­-business and business­-to-­customer transactions. 

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Open Fund Management Platform to disrupt the investment industry

ICONOMI Tim M. Zagar, Jani Valjavec, Zenel Batagelj, Ervin U. Kovac, Ales Lekse

The essence and vision of the ICONOMI project is the ICONOMI Open Fund Management (OFM) platform for investing. OFM is a simple management tool where traders with knowledge and experience create their own investment funds. Investors, on the other hand, are able to invest even the smallest amounts, getting a clear overview of available investment fund managers and their current & past performance.

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A Protocol for Interledger Payments

Interledger Stefan Thomas & Evan Schwartz

This paper presents a protocol for payments across payment systems. It enables secure transfers between ledgers and allows anyone with accounts on two ledgers to create a connection between them. Ledger-provided escrow removes the need to trust these connectors. Connections can be composed to enable payments between any ledgers, creating a global graph of liquidity or Interledger.

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Hybrid Assets for Peer-to-Peer Intersystemic Value Transfer

Internet of Coins

A meta-protocol and blockchain integration solution for transacting value across different digital currency systems would allow for multiple decentralized financial platforms to exchange value and thus form a coherent cryptosphere, without needing intermediary financial institutions. Third party services currently assist users to exchange one form of digital cash or asset for another, but a trusted third party is still required to mediate these transactions. We propose a solution to the problem of isolated digital currency systems using a meta-level transfer protocol with an extendable design, making accessible any kind of blockchain-based economy or other digital cash system for cross-blockchain and inter-system transactions.

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General purpose hierarchical Decentralized key-value storage on blockchain, Private DIONS

I/O Coin Development Team

In this paper, we propose a new language of transactions I/Oscript, which is the development of the script, allowing construction on the basis of our decentralized blockchain for general purpose key-value storage with an advanced system for delegation of rights, as well as further steps to develop I/Oscript to Turing-complete language, which will grant the same ability as Ethereum, to create smart-contracts. The article will be organized as follows. In the second section, we will discuss the different methods of using centralized key-value storage and discuss what properties it must satisfy for the most-wide use. In the third section, we will propose new operators expanding script to I/Oscript. In the fourth section, we briefly outline the next steps in the development of I/Oscript.

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The Tangle

IOTASerguei Popov∗ , for Jinn Labs

In this paper we analyze the technology used as a backbone of iota (a cryptocurrency for Internet-of-Things industry). This technology naturally succeeds the blockchain technology as its next evolutionary step and comes out with features required for micropayments conducted on a global scale. 

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Jetcoin Institute

Jetcoin disrupts the traditional fan-athlete/talent relationship by creating new ways for you to interact with your favorite athletes/talents and by enabling anyone to launch and support the career of tomorrow’s super stars, the Jetcoin Champions.

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