Comparisons of Bitcoin Cryptosystem with Other Common Internet Transaction Systems by AHP Technique

  • Davor Maček UniCredit S.p.A. Zweigniederlassung Wien
  • Dino Alagić NTH ICT d.d.
Keywords: Cryptosystem, Cryptocurrency, Bitcoin, Analytic Hierarchy Process, Multi-criteria Decision Analyses, VECTOR, Information Security Risk, transaction systems


This paper describes proposed methodology for evaluation of critical systems and prioritization of critical risks and assets identified in highly secured information systems. For different types of information assets or security environments it is necessary to apply different techniques and methods for their prioritization and evaluation. In this article, VECTOR matrix method for prioritization of critical assets and critical risks is explained and integrated into AHP (Analytic Hierarchy Process) technique as a set of fixed criteria for evaluation of defined alternatives. Bitcoin cryptocurrency was compared and evaluated along with other common Internet transaction systems by information security professionals according to defined VECTOR criteria. Also, the newly proposed hybrid AHP model is presented with potential case studies for future research. This article tries to discover security posture of Bitcoin cryptocurrency in the context of information security risks related to the existing most common online payment systems like e-banking, m-banking, and e-commerce.

Author Biographies

Davor Maček, UniCredit S.p.A. Zweigniederlassung Wien
Davor Maček is a Corporate Security Senior Professional in UniCredit S.p.A. Zweigniederlassung Wien.
He received his university specialist degree (univ.spec.inf.sec.) in Information Systems Security Management and Audit postgraduate study field from University of Zagreb, Faculty of Organization and Informatics Varaždin.
He received his university diploma degree in Information Systems from University of Zagreb, Faculty of Organization and Informatics Varaždin.
His current research interests include risk management, multicriteria decision analyses and cryptocurrencies.
Dino Alagić, NTH ICT d.d.
Dino Alagić is a Unit Manager for Platforms and Infrastructure in NTH ICT company.
He received his University Master of Informatics degree in Information and Software Engineering.
His current researches are involved with logarithms for optimization and prioritization of load balancers' traffic.