Algebras of UTxO blockchains
arXiv:2007.12404 · doi:10.1017/S0960129521000438
Abstract
We condense the theory of blockchains down to a simple and compact set of four type equations (Idealised EUTxO), and to an algebraic characterisation (abstract chunk systems), and exhibit an adjoint pair of functors between them. This gives a novel account of the essential mathematical structures underlying blockchain technology, such as Bitcoin.