Bitcoin Security and Privacy

Bitcoin Security and Privacy By Albert Szmigielski Bitcoin is a decentralized currency and payment system. In order to be an effective and secure payment system it should satisfy several security requirements. The first of these requirements is fairness. On the surface Bitcoin meets the property as users can only sign for coins that they control. However, upon further examination of recent research we do see that several double-spend attacks have been performed that would negate the fairness property of Bitcoin. On the other hand Bitcoin does satisfy resistance to impersonation attacks very well. No one can obtain the private keys (assuming they are stored properly and securely) of another person in the system to sign their transactions. As a result

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