Trust Evaluation of Blockchain-Based Cryptocurrencies: The Cases of Bitcoin and Diem

Abstract

Despite a recent increase in popularity, most individuals remain hesitant to use cryptocurrencies due to concerns about their volatility, general lack of understanding of blockchain technology, and various trust issues. Therefore, it is of high priority for the community to better understand such systems, and what increases or decreases trust in them. In this paper, we explore the current trust-related requirements on blockchain systems, focusing on the use of the dedicated requirements elicitation method TrUStAPIS. We evaluate Bitcoin and Diem trust issues and requirements. Based on the evaluation, we present a cryptocurrency trust model.