Financial Cryptography and Data Security 2018

Posted on March 12, 2018 at 10:00 PM

Nicola Atzei and Stefano Lande attended the Twenty-Second International Conference on Financial Cryptography and Data Security.

Stefano Lande presents the paper A formal model of Bitcoin transactions. The paper proposes a formal model of Bitcoin transactions, which is sufficiently abstract to enable formal reasoning, and at the same time is concrete enough to serve as an alternative documentation to Bitcoin.

We use our model to formally prove some well-formedness properties of the Bitcoin blockchain, for instance that each transaction can only be spent once. We also release an open-source tool (available online at through which programmers can write transactions in our abstract model, and compile them into standard Bitcoin transactions.