Beyond the doomsday economics of "proof-of-work" in cryptocurrencies

Beyond the doomsday economics of "proof-of-work" in cryptocurrencies

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Beyond the doomsday economics of "proof-of-work" in cryptocurrencies

BIS Working Papers | No 765 | 21 January 2019by Raphael AuerPDF full text (638kb) | 31 pagesSummaryFocusThe paper focuses on how Bitcoin and related cryptocurrencies verify that payments are final, ie irreversible once written into the blockchain. It points to the high costs of achieving such finality via "proof-of-work".

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