Committed to Research

The Bitfury Group believes research is key to building a healthy blockchain ecosystem. We are committed to promoting the academic climate around blockchain and bitcoin technology for future technological improvement and ensured community stability.

As blockchain technology expands around the world, we believe it is essential to continue studying and evaluating the technology’s potential. Our white papers and fact sheets tackle some of the most pressing questions in the blockchain community.

Automatic Bitcoin Address Clustering

Jan 04, 2018

The Bitfury Group, the world’s leading full-service Blockchain technology company, and its world-class global development team detail in this white paper a new solution to help reveal relationships between bitcoin addresses that minimizes errors in data and ensures greater accuracy in linking bitcoin addresses for criminal investigations, while also showing bitcoin users ways to protect their privacy.

Converging Blockchain and Next-Generation Artificial Intelligence Technologies to Decentralize and Accelerate Biomedical Research and Healthcare

Nov 09, 2017

This research paper, written by researchers at Bitfury and Insilico Medicine Inc., focuses on how the combination of blockchain and artificial intelligence technologies can be used to create a decentralized personal health data ecosystem and marketplace.

On Blockchain Auditability

Nov 29, 2016

The Bitfury Group released a white paper today, titled “On Blockchain Auditability,” that explores the key properties of legitimate Blockchains, including auditability, accountability and non-repudiation. The white paper explores how Blockchain technology allows for these properties, including blockchain receipts, blockchain anchoring, and proof of work.

Shared Send Untangling in Bitcoin

Aug 24, 2016

This white paper focuses on the existing tangling techniques of “shared send” transactions and presents an approach to detect usage of mixing schemes. First, we demonstrate that a substantial part of shared send transactions could be untangled. Second, we propose a number of practically useful modifications to this challenge and we present the results of computational experiments on shared send untangling.

Flare: An Approach to Routing in Lightning Network

Jul 07, 2016

This whitepaper is about Flare, a hybrid routing algorithm for payment routing on the Lightning Network. The paper suggests a two-phase algorithm: (1) a proactive update of the node’s routing map, which stores information about network topology, along with (2) reactive collection of information as needed when required by a Lightning Network request. This white paper is the first attempt to describe and preliminarily test an algorithmic solution for future implementation of the Lightning Network on the Bitcoin Blockchain that will allow for transaction processing scalability. The paper is a product of collaboration with co-author Olaoluwa Osuntokun, and the rest of the Lightning Network team.

4 Facts Everyone Should Know About the Blockchain

May 12, 2016

Need a quick primer on why everyone is interested in Blockchain and bitcoin technology?

Digital Assets on Public Blockchains

Mar 15, 2016

The BitFury Group's white paper, “Digital Assets on Public Blockchains,” explores how digital assets can be securely stored and transferred on the bitcoin-secured public Blockchain. A digital asset is a floating claim of a certain service or goods, ensured by the asset issuer, that is governed using computer technologies and the Internet. Throughout the compilation of this white paper, The BitFury Group found that using blockchain infrastructure for digital asset management would allow the global economy to create purely digital assets and manage them entirely online. Our white paper concludes that this allowance opens many new doors to opportunity throughout the world.

Incentive Mechanisms for Securing the Bitcoin Blockchain

Dec 07, 2015

This white paper studies the two major incentive mechanisms which provide for the security and immutability of the Bitcoin blockchain: block rewards and transaction fees. We examine the role such incentives play in providing the resilience of the Bitcoin blockchain to blockchain reorganization and denial of service attacks, and the sources of blockchain security in the context of emerging off-chain payment methods. Machine-to-machine / Internet of Things payments are also examined due to the enabling impact blockchain technology could have in organizing the decentralized economy. Lastly, we present a methodology for estimating the aggregate transaction fees over the Bitcoin network in the medium term based on existing and emerging Bitcoin applications.

Public versus Private Blockchains

Oct 20, 2015

Blockchain-based solutions are one of the major areas of research for institutions, particularly in the financial and the government sectors. There is little disagreement that backbone technologies currently used in these sectors are outdated and need an overhaul to conform to the needs of the times. Distributed or decentralized ledgers in the form of blockchains are one of the most discussed potential solutions to the stated problem.

Mathematical formalism for the voting process in Bitcoin ecosystem

Sep 13, 2015

We propose a mathematical formalism for the voting process in Bitcoin ecosystem. This formalism can be used to algorithmically determine the best value of a certain parameter (e.g., a block size limit) which will be considered appropriate by all voters. The proposed approach is aimed to clarify vagueness of some proposed voting processes that potentially allows a party with marginal voting power to dictate their conditions to the rest of the network. To solve the problem, we introduce a non-negative dissatisfaction function and minimize its value summed over all votes. The value of the block size limit (and, potentially, other parameters of the protocol) found this way will satisfy voters provided the dissatisfaction function is chosen appropriately.

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