NDLI: Performance Comparison of Executing Fast Transactions in Bitcoin Network Using Verifiable Code Execution

Content Provider	IEEE Xplore Digital Library
Author	Singh, P. Chandavarkar, B.R. Arora, S. Agrawal, N.
Copyright Year	2013
Description	Author affiliation: Dept. of Math., IIT-BHU, Varanasi, India (Arora, S.) \|\| Dept. of Comput. Sci., NITK Surathkal, Mangalore, India (Chandavarkar, B.R.) \|\| Dept. of Math., IIT Roorkee, Roorkee, India (Agrawal, N.) \|\| Comput. Sci. & Inf. Security, NITK Surathkal, Mangalore, India (Singh, P.)
Abstract	In this paper, we study Bit coin network for electronic cash transactions, and compare the extension to the BTCs network which inculcates provision of executing fast transactions with greater security and assurance with the former method of Proof-Of-Work for executing transactions. Above milestones are achieved by introducing the concepts of mutual trust and verifiable code execution between the payer and the payee in the network. Our work proposes a significant modification of the Pioneer model to provide a two-party trust framework for Bit coin transactions, considerably faster compared to the generic trust platform of Bit coin networks based on slow proof-of-work. The scheme proposed can promote the use of Bit coin transactions in real life scenarios, where fast transactions are desirable due time constraints between the payment and the service.
Starting Page	193
Ending Page	198
File Size	526708
Page Count	6
File Format	PDF
ISBN	9780769551272
DOI	10.1109/ADCONS.2013.42
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2013-12-15
Publisher Place	India
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Fast transaction Pioneer model Protocols Double spending Computational modeling Simulation Bitcoin Peer-to-peer computing Security Approximation methods Stock markets Trust
Content Type	Text
Resource Type	Article

Sl.	Authority	Responsibilities	Communication Details
1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
5	Website/Portal (Helpdesk)	Queries regarding NDLI and its services	support@ndl.gov.in
6	Contents and Copyright Issues	Queries related to content curation and copyright issues	content@ndl.gov.in
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9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in

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