Introduction to Cryptocurrencies

Abstract

We provide a research-oriented introduction to the cryptographic currencies. We start with a description of Bitcoin and its main design principles. We then discuss some of its weaknesses, and show some ideas for dealing with them. We also talk about the mechanics of the mining pools and ideas for discouraging the mining pool creation. We provide an introduction to the smart contracts, and give some examples of them, including the multiparty lotteries.