A New Look at Bitcoin

Report Overview

Author: Maciej Cepnik, Gustavo J. Flores Echaiz, Tristan Borges Solari, and René Vergé
Release Date: July 31, 2020

Abstract:

This research takes a fresh look at the Bitcoin network and its native currency, bitcoin. Its authors argue that, while the Bitcoin protocols have proven successful for financial applications, they have hindered scalability, privacy, and programmability. Because of these implementation challenges, some enterprise leaders have looked to Ethereum and other blockchain solutions. But other development teams have found innovative ways to evolve the Bitcoin network and its enterprise capabilities. By building directly on top of existing Bitcoin infrastructure, businesses can profit from its security and network effects without incurring the costs and risks associated with creating and maintaining an independent platform.

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