An Analysis of the Security of Cryptocurrency Implementations and Proposed Solutions

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  • Abstract: Cryptocurrency has emerged as one of the widely used applications based on Blockchain. This report intends to provide an overview of Cryptocurrency, Blockchain, Cryptographic hashing, Public key encryption and Quantum computer subjects. The report will touch upon various technologies that play a significant role in the creation and security of Cryptocurrencies. Blockchain and Cryptocurrency have captured the interest of many individuals and enterprises in the industry. Many countries and institutions are starting to understand the significance of Cryptocurrency and Blockchain in their business models, but how secure are these technologies? Bitcoin paper [1] has ushered Blockchain and Cryptocurrency into a new era, an era where individuals can manage their assets in a distributed trust model. The security of these systems heavily relies on cryptography. In this report, we will also analyze the security of cryptocurrency implementation of Blockchain and learn how cryptography is evolving to maintain the working of Cryptocurrency.

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    Attribution-NonCommercial 4.0 International