this paper aims to investigate the effect of budget deficit shock on government spending in indonesia. for this propose, this reasearch uses an alternative error correction model based on loss function of government spending. the model assumes the short run disequilibrium, in which shock variables may play an important role. a spesific loss function model is applied to develop the long run gove...

Off-line e-cash systems are the digital analogue of regular cash. One of the main desirable properties is anonymity: spending a coin should not reveal the identity of the spender and, at the same time, users should not be able to double-spend coins without being detected. Compact e-cash systems make it possible to store a wallet of O(2) coins using O(L+ λ) bits, where λ is the security paramete...

The Bitcoin network of decentralized payment transactions has attracted a lot of attention from both Internet users and researchers in recent years. Bitcoin utilizes a peer-to-peer network to issue anonymous payment transactions between different users. In the currently used Bitcoin clients, the full transaction history is available at each node of the network to prevent double spending without...

Bitcoin’s core innovation is its solution to double-spending, called Nakamoto consensus. This provides a probabilistic guarantee that transactions will not be reversed or redirected, provided that it is improbable for an attacker to obtain a majority of mining power in the network. While this may be true in the traditional sense, this assumption becomes tenuous when miners are assumed to be rat...

In this short note we show that the Bitcoin network can allow remote parties to gamble with their bitcoins by tossing a fair or biased coin, with no need for a trusted party, and without the possibility of extortion by dishonest parties who try to abort. The superfluousness of having a trusted party implies that there is no house edge, as is the case with centralized services that are supposed ...

As an emerging decentralized technology, peerto-peer architecture arises as a new model for distributed computing and transaction, consequently there is a need for a scheme to incorporate payment services in this environment to enable electronic payment via peer-to-peer systems. In this paper, a transferable token is proposed for peer-to-peer payment system, which can float from a peer to anoth...

We make several contributions that quantify the real-time hash rate and therefore the consensus of a blockchain. We show that by using only the hash value of blocks, we can estimate and measure the hash rate of all miners or individual miners, with quantifiable accuracy. We apply our techniques to the Ethereum and Bitcoin blockchains; our solution applies to any proof-of-work-based blockchain t...

Divisible E-cash systems allow users to withdraw a unique coin of value 2 from a bank, but then to spend it in several times to distinct merchants. In such a system, whereas users want anonymity of their transactions, the bank wants to prevent, or at least detect, double-spending, and trace the defrauders. While this primitive was introduced two decades ago, quite a few (really) anonymous const...

Electronic cash has been playing an important role in electronic commerce. One of the desirable characteristics is its traceability, which can prevent money laundering and can find the destination of suspicious withdrawals. In this paper we develop a new scheme for untraceable electronic cash, in which the bank involvement in the payment transaction between a user and a receiver is eliminated. ...