A Survey on Security and Privacy Issues of Bitcoin

Understand

Bitcoin is a popular cryptocurrency that records alltransactions in a distributed append-only public ledger calledblockchain.

• The security of Bitcoin heavily relies on the incentive-compatible proof-of-work (PoW) based distributed consensus pro-tocol, which is run by network nodes called miners.
• In exchangefor the incentive, the miners are expected to honestly maintainthe blockchain.
• Since its launch in 2009, Bitcoin economy hasgrown at an enormous rate, and it is now worth about 170 billions of dollars.