Since its inception in 2009, Bitcoin has become one of the most discussed and researched cryptocurrencies. Security and privacy issues in the Bitcoin network have attracted the attention of both researchers and users. In his dissertation “Security and Privacy in Bitcoin,” Malte Möser provides an in-depth analysis of various aspects of security and privacy in the Bitcoin network. In this article we will review the key findings and proposals presented in his work.

Basic security aspects of the Bitcoin network

1. Decentralization and consensus

One of the key aspects of Bitcoin security is its decentralized nature. The Bitcoin network operates on a Proof-of-Work (PoW) consensus algorithm, which provides protection against double-spending attacks and other types of fraud. Möser emphasizes the importance of decentralization in maintaining network security, as it prevents the possibility of control by one or more parties.

2. Cryptographic protection

Bitcoin uses cryptographic techniques to ensure transaction security. In particular, hashing algorithms (SHA-256) and digital signatures (ECDSA) are used. These methods ensure data integrity and user authentication, making transaction forgery virtually impossible.

3. Vulnerabilities and attacks

Despite the high degree of security, the Bitcoin network is not completely protected from attacks. Möser looks at different types of attacks, such as 51% attacks, attacks on mining pools, and attacks on the network layer. It also analyzes defense methods against these attacks and suggests possible improvements.

Privacy on the Bitcoin network

1. Pseudonymity

Bitcoin provides user pseudonymity, which means that transactions are not tied to real names, but to Bitcoin addresses. However, as Möser notes, this does not guarantee complete anonymity. Analysis of transactions and the blockchain can make it possible to determine connections between addresses and real identities.

2. Methods for increasing privacy

Möser examines various methods for increasing privacy in the Bitcoin network, such as the use of mixers and Confidential Transactions protocols. These methods are aimed at complicating the analysis of transactions and increasing the level of anonymity of users.

3. Problems and challenges

One of the main privacy concerns in the Bitcoin network is the possibility of de-anonymizing users through blockchain analysis. Möser emphasizes the need to develop new methods and protocols that provide higher levels of privacy without compromising network security.

Conclusion

Malte Möser’s dissertation “Security and Privacy in Bitcoin” represents an important contribution to the understanding of security and privacy issues in the Bitcoin network. His research highlights the importance of decentralization, cryptographic security, and the need to develop new methods to improve privacy. With growing interest in cryptocurrencies, such research plays a key role in ensuring the reliability and security of digital financial systems.