Recirculating lost coins in cryptocurrency systems

Research output: Contribution to journalConference article

6 Citations (Scopus)

Abstract

There is no doubt that the momentum for digital currency has grown the last few years. Numerous businesses have started accepting this alternative form of currency as payment method and digital currency platforms are emerging to seize the opportunity to explore new markets. The potential of digital currency payment protocols to act as replacements of existing monetary systems is faced with challenges related to financial, regulatory, societal, and technological factors. In this paper, we are addressing the issue of deflation that could occur in cryptocurrency systems supporting a finite cap on the total amount of currency that will ever be in circulation. Our approach leaves intact the core functionality of these systems.

Original languageEnglish
Pages (from-to)229-240
Number of pages12
JournalLecture Notes in Business Information Processing
Volume183
DOIs
Publication statusPublished - 2014

Keywords

  • Cryptocurrency
  • Deflation
  • Private key loss

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