TY - GEN
T1 - Towards reference architecture for cryptocurrencies
T2 - 2014 IEEE International Conference on Internet of Things, iThings 2014, Collocated with 2014 IEEE International Conference on Cyber, Physical and Social Computing, CPSCom 2014 and 2014 IEEE International Conference on Green Computing and Communications, GreenCom 2014
AU - Alqassem, Israa
AU - Svetinovic, Davor
N1 - Publisher Copyright:
© 2014 IEEE.
PY - 2014/3/12
Y1 - 2014/3/12
N2 - Bit coin is a new protocol with a potential to revolutionize financial system. Bit coin has a complex structure, where several interacting components build a peer-to-peer currency and a payment system without relying on any trusted third party. Bit coin is continually improved by an open source community, and various Bit coin libraries, APIs, and alternative implementations are being developed. Nevertheless, there is no up-to-date protocol specification or architecture description since the official whitepaper was published back in 2008. In this paper, we provide an up-to-date protocol specification and architectural analysis of the Bit coin system. We perform this analysis as the first step towards specification of the crypto currency reference architecture. The future reference architecture will serve as a starting architectural point for the development of new systems that leverage Bit coin protocol in different contexts and for various purposes. We also discuss whether the current architecture satisfies the system's primary purpose, i.e., Providing a pure decentralized version of the crypto currency.
AB - Bit coin is a new protocol with a potential to revolutionize financial system. Bit coin has a complex structure, where several interacting components build a peer-to-peer currency and a payment system without relying on any trusted third party. Bit coin is continually improved by an open source community, and various Bit coin libraries, APIs, and alternative implementations are being developed. Nevertheless, there is no up-to-date protocol specification or architecture description since the official whitepaper was published back in 2008. In this paper, we provide an up-to-date protocol specification and architectural analysis of the Bit coin system. We perform this analysis as the first step towards specification of the crypto currency reference architecture. The future reference architecture will serve as a starting architectural point for the development of new systems that leverage Bit coin protocol in different contexts and for various purposes. We also discuss whether the current architecture satisfies the system's primary purpose, i.e., Providing a pure decentralized version of the crypto currency.
UR - http://www.scopus.com/inward/record.url?scp=84962595561&partnerID=8YFLogxK
U2 - 10.1109/iThings.2014.78
DO - 10.1109/iThings.2014.78
M3 - Conference contribution
AN - SCOPUS:84962595561
T3 - Proceedings - 2014 IEEE International Conference on Internet of Things, iThings 2014, 2014 IEEE International Conference on Green Computing and Communications, GreenCom 2014 and 2014 IEEE International Conference on Cyber-Physical-Social Computing, CPS 2014
SP - 436
EP - 443
BT - Proceedings - 2014 IEEE International Conference on Internet of Things, iThings 2014, 2014 IEEE International Conference on Green Computing and Communications, GreenCom 2014 and 2014 IEEE International Conference on Cyber-Physical-Social Computing, CPS 2014
PB - Institute of Electrical and Electronics Engineers Inc.
Y2 - 1 September 2014 through 3 September 2014
ER -