Rep on the block: A next generation reputation system based on the blockchain

Abstract

This paper presents the first generalized reputation system that can be applied to multiple networks that is based on the blockchain. We first discuss current reputation systems, conducting a critical analysis of their current security vulnerabilities, before looking at how new blockchain based technologies are used. We propose an innovative new reputation system that is based on blockchain technologies which aims to solve many unanswered questions in today's current generation reputation systems. We then consider the limitations of such a system, before using simulations and analyses to demonstrate methods of overcoming these limitations. We conclude by suggesting areas for future studies, and summarizing our findings.