Modeling Bitcoin Contracts by Timed Automata

@article{Andrychowicz2014ModelingBC,
  title={Modeling Bitcoin Contracts by Timed Automata},
  author={Marcin Andrychowicz and Stefan Dziembowski and Daniel Malinowski and Lukasz Mazurek},
  journal={ArXiv},
  year={2014},
  volume={abs/1405.1861}
}
Bitcoin is a peer-to-peer cryptographic currency system. Since its introduction in 2008, Bitcoin has gained noticeable popularity, mostly due to its following properties: (1) the transaction fees are very low, and (2) it is not controlled by any central authority, which in particular means that nobody can “print” the money to generate inflation. Moreover, the transaction syntax allows to create the so-called contracts, where a number of mutually-distrusting parties engage in a protocol to… 
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