Bitcoin's academic pedigree

Arvind Narayanan, Jeremy Clark

Research output: Contribution to journalReview article

65 Scopus citations

Abstract

IF YOU HAVE read about bitcoin in the press and have some familiarity with academic research in the field of cryptography, you might reasonably come away with the following impression: Several decades' worth of research on digital cash, beginning with David Chaum,10,12 did not lead to commercial success because it required a centralized, bank-like server controlling the system, and no banks wanted to sign on. Along came bitcoin, a radically different proposal for a decentralized cryptocurrency that did not need the banks, and digital cash finally succeeded. Its inventor, the mysterious Satoshi Nakamoto, was an academic outsider, and bitcoin bears no resemblance to earlier academic proposals.

Original languageEnglish (US)
Pages (from-to)36-45
Number of pages10
JournalCommunications of the ACM
Volume60
Issue number12
DOIs
StatePublished - Dec 2017

All Science Journal Classification (ASJC) codes

  • Computer Science(all)

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