[Resource Topic] 2018/513: Another coin bites the dust: An analysis of dust in UTXO based cryptocurrencies

Welcome to the resource topic for 2018/513

Another coin bites the dust: An analysis of dust in UTXO based cryptocurrencies

Authors: Cristina Pérez-Solà, Sergi Delgado-Segura, Guillermo Navarro-Arribas, Jordi Herrera-Joancomart


Unspent Transaction Outputs (UTXOs) are the internal mechanism used in many cryp- tocurrencies to represent coins. Such representation has some clear benefits, but also entails some complexities that, if not properly handled, may leave the system in an inefficient state. Specifically, inefficiencies arise when wallets (the software responsible for transferring coins between parties) do not manage UTXOs properly when performing payments. In this paper, we study three cryptocurrencies: Bitcoin, Bitcoin Cash and Litecoin, by analyzing the actual state of their UTXO sets, that is, the status of their sets of spendable coins. These three cryptocurrencies are the top-3 UTXO based cryptocurrencies by market capitalization. Our analysis shows that the usage of each cryptocurrency is quite different, and let to different results. Furthermore, it also points out that the management of the transactions has not been always performed efficiently and then the actual state of the UTXO set for each cryptocurrency is far from ideal.

ePrint: https://eprint.iacr.org/2018/513

See all topics related to this paper.

Feel free to post resources that are related to this paper below.

Example resources include: implementations, explanation materials, talks, slides, links to previous discussions on other websites.

For more information, see the rules for Resource Topics .