# The mathematics of Bitcoin

arXiv: https://arxiv.org/abs/2003.00001 · HTML: https://mlsanity.com/paper/2003.00001/

## Key facts

- Cited by 1 papers in the map (data through 14 Oct 2026).
- First posted on arXiv 2 Mar 2020.

## Built on by (most cited first, 1 of 1)

- [Performance Evaluation, Optimization and Dynamic Decision in Blockchain Systems: A Recent Overview](https://mlsanity.com/paper/2211.15907/) (2022)

## Abstract (arXiv)

We survey recent results on the mathematical stability of Bitcoin protocol. Profitability and probability of a double spend are estimated in closed form with classical special functions. The stability of Bitcoin mining rules is analyzed and several theorems are proved using martingale and combinatorics techniques. In particular, the empirical observation of the stability of the Bitcoin protocol is proved. This survey article on the mathematics of Bitcoin is published by the Newsletter of the European Mathematical Society, vol.115, 2020, p.31-37. Continuation of arXiv:1601.05254 (EMS Newsletter, 100, 2016 p.32).