Unpacking Blockchains

Abstract

The Bitcoin digital currency appeared in 2009. Since this time, researchers and practitioners have looked “under the hood” of the open source Bitcoin currency, and discovered that Bitcoin’s “Blockchain” software architecture is useful for non-monetary purposes too. By coalescing the research and practice on Blockchains, this work begins to unpack Blockchains as a general phenomenon, therein, arguing that all Blockchain phenomena can be conceived as being comprised of transaction platforms and digital ledgers, and illustrating where public key encryption plays a differential role in facilitating these features of Blockchains.

Keywords: Blockchains, Bitcoin, Cryptography, Public Key Encryption, Cryptocurrency, Smart Contracts, Digital Ledgers, Digital Signatures, Cryptographic Privacy, Cryptographic Authentication,