• Corpus ID: 17942103

Bootstrapping the Blockchain - Directly

  title={Bootstrapping the Blockchain - Directly},
  author={Juan A. Garay and Aggelos Kiayias and Nikos Leonardos and Giorgos Panagiotakos},
  journal={IACR Cryptol. ePrint Arch.},
The Bitcoin backbone protocol [Eurocrypt 2015] extracts basic properties of Bitcoin's underlying blockchain data structure, such as common pre x and chain quality, and shows how fundamental applications including consensus and a robust public transaction ledger can be built on top of them. The underlying assumptions are proofs of work (POWs), adversarial hashing power strictly less than 1/2 and no adversarial pre-computation or, alternatively, the existence of an unpredictable genesis block. In… 

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