On the Origins and Variations of Blockchain Technologies

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https://arxiv.org/abs/1810.06130

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http://hdl.handle.net/11603/12304

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UMBC Center for Information Security and Assurance (CISA)
UMBC Computer Science and Electrical Engineering Department
UMBC Faculty Collection
UMBC Student Collection

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Date

2018-10-15

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reports
Text

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Subjects

blockchain
cryptography
david chaum’s vault system
digital currency
distributed ledger technology (DLT)
cryptographic hashing
proof-of-work
UMBC Cyber Defense Lab

Abstract

We explore the origins of blockchain technologies to better understand the enduring needs they address. We identify the five key elements of a blockchain, show embodiments of these elements, and examine how these elements come together to yield important properties in selected systems. To facilitate comparing the many variations of blockchains, we also describe the four crucial roles of blockchain participants common to all blockchains. Our historical exploration highlights the 1979 work of David Chaum whose vault system embodies many of the elements of blockchains.