International Association for Cryptologic Research
BitCoin is a decentralized digital currency, introduced in 2008, that has recently gained noticeable popularity. Its main features are: it lacks a central authority that controls the transactions, the list of transactions is publicly available, and its syntax allows more advanced transactions than simply transferring the money. This paper show shows these properties of BitCoin can be used in the area of secure Multiparty Computation Protocols (MPCs). The authors show that the BitCoin system provides an attractive way to construct a version of \"Timed commitments\", where the committer has to reveal their secret within a certain time frame, or to pay a fine.