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 language | English |
|---|---|
| Pages (from-to) | 229-240 |
| Number of pages | 12 |
| Journal | Lecture Notes in Business Information Processing |
| Volume | 183 |
| DOIs | |
| Publication status | Published - 2014 |
Fingerprint
Keywords
- Cryptocurrency
- Deflation
- Private key loss
Cite this
}
Recirculating lost coins in cryptocurrency systems. / Gjermundrød, Harald; Dionysiou, Ioanna.
In: Lecture Notes in Business Information Processing, Vol. 183, 2014, p. 229-240.Research output: Contribution to journal › Conference article
TY - JOUR
T1 - Recirculating lost coins in cryptocurrency systems
AU - Gjermundrød, Harald
AU - Dionysiou, Ioanna
PY - 2014
Y1 - 2014
N2 - 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.
AB - 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.
KW - Cryptocurrency
KW - Deflation
KW - Private key loss
UR - http://www.scopus.com/inward/record.url?scp=84922066345&partnerID=8YFLogxK
U2 - 10.1007/978-3-319-11460-6_20
DO - 10.1007/978-3-319-11460-6_20
M3 - Conference article
AN - SCOPUS:84922066345
VL - 183
SP - 229
EP - 240
JO - Lecture Notes in Business Information Processing
JF - Lecture Notes in Business Information Processing
SN - 1865-1348
ER -