2018
DOI: 10.1007/978-3-662-58387-6_23
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A Quantitative Analysis of the Impact of Arbitrary Blockchain Content on Bitcoin

Abstract: Blockchains primarily enable credible accounting of digital events, e.g., money transfers in cryptocurrencies. However, beyond this original purpose, blockchains also irrevocably record arbitrary data, ranging from short messages to pictures. This does not come without risk for users as each participant has to locally replicate the complete blockchain, particularly including potentially harmful content. We provide the first systematic analysis of the benefits and threats of arbitrary blockchain content. Our an… Show more

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Cited by 124 publications
(110 citation statements)
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“…TiiQu/YourCompany (Catalini, 2017) Example 3 Arbitrary blockchain content (Matzutt et al, 2018) Base-of-the-Pyramid entrepreneurship Cryptotechnology and secrecy, (Takahashi, 2018) Open data deliberation and a strong legal basis for privacy could protect secrecy, while prohibiting nefarious transactions.…”
Section: Reducing Ambivalencesmentioning
confidence: 99%
“…TiiQu/YourCompany (Catalini, 2017) Example 3 Arbitrary blockchain content (Matzutt et al, 2018) Base-of-the-Pyramid entrepreneurship Cryptotechnology and secrecy, (Takahashi, 2018) Open data deliberation and a strong legal basis for privacy could protect secrecy, while prohibiting nefarious transactions.…”
Section: Reducing Ambivalencesmentioning
confidence: 99%
“…We base the subsequent discussion on the challenge of erasing transaction parts, with a special focus on the erasure of data stored in output scripts (scriptPubKey). Erasing from output scripts is both challenging, as they are future-relevant, and highly relevant, as output scripts are the most commonly used storage location for arbitrary data in Bitcoin [20] (and likely other networks). The in-depth discussion of erasure from other future-relevant fields, such as value, lockTime and MiningData, as well as from parts of transaction and block hashes (where data could be inserted using brute-force methods), exceeds the scope of this paper.…”
Section: B Utxo-based Blockchain Protocolsmentioning
confidence: 99%
“…Here, the data is already stored locally by full nodes when the need to erase it arises. Arbitrary data on blockchains is often not discovered immediately, but only after careful analysis (such as in [20]) or media reporting. Data erasure requests as per GDPR (cf.…”
Section: Erasing Transaction Partsmentioning
confidence: 99%
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