Smart contracts are self-executing programs on the blockchain that are critical to a range of industries, including finance, supply chain management, and healthcare.However, comprehending smart contracts can be challenging due to a lack of effective comments in most user-defined code.To address this challenge, we propose a novel retrieval-enhanced approach CC-GRA that leverages retrieval knowledge to generate high-quality comments for Solidity language code.Our approach carefully eliminates duplicated data and template data in the widely-used smart contract dataset to ensure a high-quality corpus.Extensive experiments and comprehensive analysis demonstrate the effectiveness applicability of our approach after being compared with eight state-of-the-art baselines.Finally, we conduct a human study and find the comment quality generated by our approach is better than baselines in terms of similarity, naturalness, and informativeness.
This work compares machine learning methods using supervised, semi-supervised and unsupervised learning, to classify advertisements for cryptocurrency related investment scams found in the online forum Bitcointalk, and the social media platform Reddit. We extract more than 24.2 million posts from Bitcointalk and use Redditâs API to collect 2,108 submissions. We train and compare several multiclass text classification approaches and use the models with highest accuracy and F-measure to identify cryptocurrency investment scam advertisements found on both platforms. We discover around five percent of all posts collected on both sites are potential scams. We then use another text classifier to identify the scam actors involved in these investment scam advertisements. We also discover the lures used within these fraudulent adverts and find the main differences in luring techniques used between Bitcointalk and Reddit. We identify that the most prevalent lure type uses the financial principle, followed by the distraction principle in Bitcointalk, and by the authority principle in Reddit. Finally, we use subreddits as communitiesâ proxies and compare scam advertisements within them to identify whether pensioners are being specifically targeted by cryptocurrency scam adverts. Our results show that retirement subreddits do not contain a higher number of cryptocurrency investment scam adverts compared to other investment focused subreddits.
P. Angelin Kiruba, R. Dhivya Bharathi, N. Madhumithaa
Investor perceptions of various investment modes can differ based on factors such as experience, earnings, risk tolerance, liquidity preferences, and so on. Understanding the viewpoints of young investors is essential when assessing cryptocurrency investments. This study evaluates the investment decisions of 103 young investors in the cryptocurrency market, using regression and factor analysis for data analysis. The findings indicate that investors have a fundamental understanding of the risks associated with cryptocurrency investments. However, there is a notable need for enhancing the effective management of these risks. The study affirms the reliability of the measures used, accurately capturing the underlying factors pertinent to cryptocurrency investment
Lucian Trestioreanu, Wazen M. Shbair, Flaviene Scheidt de Cristo, Radu State
Recent technologies such as inter-ledger payments, non-fungible tokens, and smart contracts are all fruited from the ongoing development of Distributed Ledger Technologies. The foreseen trend is that they will play an increasingly visible role in daily life, which will have to be backed by appropriate operational resources. For example, due to increasing demand, smart contracts could soon face a shortage of knowledgeable users and tools to handle them in practice. Widespread smart contract adoption is currently limited by security, usability and costs aspects. Because of a steep learning curve, the handling of smart contracts is currently performed by specialised developers mainly, and most of the research effort is focusing on smart contract security, while other aspects like usability being somewhat neglected. Specific tools would lower the entry barrier, enabling interested non-experts to create smart contracts. In this paper we designed, developed and tested Blockly2Hooks, a solution towards filling this gap even in challenging scenarios such as when the smart contracts are written in an advanced language like C. With the XRP Ledger as a concrete working case, Blockly2Hooks helps interested non-experts from the community to learn smart contracts easily and adopt the technology, through leveraging well-proven teaching methodologies like Visual Programming Languages, and more specifically, the Blockly Visual Programming library from Google. The platform was developed and tested and the results are promising to make learning smart contract development smoother.
Recently blockchain has become a tool for spatial coordination and appropriation. Globally, the tokenization of land and housing has led to new forms of datafication and increased financialization. In the case of land non-fungible tokens), security token offerings, and blockchain-based real estate investment trusts, blockchains act as exclusionary digital platforms, with new socio-technical assemblages emerging as complex predatory formations of speculation that are intentionally obfuscatory and difficult to regulate. With the security token offering, crowdfunding and venture capital are combined with cryptocurrency to create a âtokenized venture capital fundâ tied to tangible assets, such as ownership rights in housing, real estate, or land. Distributed ledgers are proposed to be used as the digital technology underlying new forms of land/property documentation, ownership, and inhabitation â from conducting and recording land surveys and title creation to transference of land/property rights. This paper addresses the question: how equitable is tokenized equity â does it prioritize the right to the city for all or to all but a very few? This paper looks toward the means of contestation against extractive crypto-settlements, speculation, and housing financialization, critically comparing a range of proposed distributed ledger technology projects that claim to inject equity in the system, pose alternative housing economies, or leverage distributed ledgers for land rights and data sovereignty. I question the utility and limits of datafication and explore how engaging with digital technology â with or without distributed ledgers â can raise awareness and enact alternative forms of housing and land stewardship, from cooperativism to Community Land Trusts and to counter-hegemonic commoning practices.
DEX, or decentralized exchange, is a prominent class of decentralized finance (DeFi) applications on blockchains, attracting a total locked value worth tens of billions of USD today.This paper presents the first large-scale empirical study that uncovers unfair trades on popular DEX services on Ethereum and Binance Smart Chain (BSC). By joining and analyzing 60 million transactions, we find 671, 400 unfair trades on all six measured DEXes, including Uniswap, Balancer, and Curve. Out of these unfair trades, we attribute 55, 000 instances, with high confidence, to token thefts that cause a value loss of more than 3.88 million USD. Furthermore, the measurement study uncovers previously unknown causes of extractable value and real-world adaptive strategies to these causes. Finally, we propose countermeasures to redesign secure DEX protocols and to harden deployed services against the discovered security risks.
Blockchain technology is gaining increasing interest among software developers as a distributed and decentralized ledger for tracking the origin of digital assets. However, the application of blockchain in software engineering requires further attention. In this study, we aim to address the current challenges and explore the need for specialized blockchain practices in software engineering. Through a systematic literature review, we identify the various applications of blockchain technology in software engineering. Additionally, we conduct a thorough analysis of existing obstacles and propose potential solutions. Gathering and evaluating requirements using blockchain-based requirements engineering approaches will enhance the quality and reliability of data in software development projects. This, in turn, will improve the overall quality and dependability of software, as well as increase user interest and productivity.
Over the last decade or 1 - 1.5 years, financial markets have witnessed the mass emergence of virtual currencies based on blockchain technology, also known as cryptocurrencies. The most widely known is Bitcoin, the first representative, but today there are around 22,500 other cryptocurrencies. Many people see cryptocurrencies as an investment product with a high potential return, but are not aware of their operating mechanisms and the risks involved. There is a lively debate in financial circles on whether and to what extent crypto-currencies and their markets should be regulated. This paper will provide an overview of the characteristics of cryptocurrencies, their main types, possible directions for further development and the risks they entail, based mainly on international literature.
Noorfaiz Purhanudin, Noor Azizah Shaari, Norhayati Md Isa, Zuriawati Zakaria
Blockchain is a revolutionary technology that offers a new kind of inventive service. It can handle a variety of sophisticated issues associated with the secrecy, integrity, and availability of fast and secure distributed systems. This concept paper begins by addressing the shift in people's attitudes towards the insurance industry, particularly in Malaysia, and then goes on to understand how the Unified Theory of Acceptance and Use of Technology (UTAUT), Task Technology Fit (TTF), and Initial Trust Model (ITM), influence behavioural intentions in using blockchain smart contracts. A digital insurance platform must be redefined after the increase in online insurance sales transactions prompted by COVID-19 to satisfy the market's expectations. Whereas traditional paper contracts rely on middlemen for execution, blockchain smart contracts are now based on blockchains, which include an immutable record of data and the ability to remove single points of failure. Despite the growing popularity of blockchain research in recent years, research on blockchain smart contract adoption behaviour at the individual level concerning insurance services remains limited. Hence, this study utilises the three models to characterise how performance expectancy, technological context, and initial trust interact to forecast behavioural intention. Furthermore, we stressed the need for additional research to demonstrate the intention to employ blockchain smart contracts is impacted by performance anticipation, technical environment, and personal initial trust. Based on the review, we will design realistic research that will incorporate prospects for theoretical progress as well as empirical discoveries in blockchain smart contract studies. The findings are intended to assist policymakers in developing suitable and improved strategies for capturing interest in blockchain smart contract insurance services in the Malaysian market. We also believe that the evolution of blockchain technology in tandem with smart contracts will enable the creation of new sorts of innovative services, such as insurance.
SNAP (Standar Nasional OPEN API Pembayaran) is an implementation of open banking for encouraging digital transformation in the banking industry. SNAP was submitted by several sub-working groups formed jointly by ASPI and the Bank of Indonesia. In the document Pedoman Tata Kelola (Bank of Indonesia, n.d.), there is already a customer data protection mechanism between the bank, the owner of Open API, and the user of Open API. However, there is no data protection process carried out by consumers so third parties, that use the Open API of the bank, do not need to know the customer's data. Based on the web3 protocol, users can store data and transmit only in encrypted form which can only be opened by calculating the data with a pre-agreed smart contract. Banks can work like a decentralized network on web3, where the process of calculating proof and witness is carried out by the bank. Proof and witness are calculated using a zero-knowledge proof protocol, making it difficult to duplicate. For this reason, we propose a new architecture using smart contracts between banks and customers using the ZK-SNARK method. Therefore, there is no significant performance difference between using ZK-SNARK and without ZK-SNARK in the API call process.
This paper explores the sociological and cultural implications of blockchain technology, specifically focusing on three prominent blockchain ecosystems: Bitcoin, Ethereum, and Algorand. The study utilizes the concept of the lifeworld, which encompasses collective human perceptions and everyday communicative social interaction, to analyze the formation and perpetuation of lifeworlds within these ecosystems. By employing scene theory as an analytical framework, the research identifies structural and thematic aspects of the lifeworlds represented in the discourse on Reddit and Twitter. The analysis reveals how these virtual spaces shape the unique social orderings, normative politics, and cultural identities associated with each blockchain. The study emphasizes the role of identity expression, cultural attitudes towards money, and the dynamics of boundary work within these scenes. Overall, the paper provides insights into the distinct lifeworlds and dynamics of Bitcoin, Ethereum, and Algorand, showcasing the significance of sociocultural factors in blockchain ecosystems and illustrating how a scenes lens offers insights into dynamics at the ecosystem level that may not be visible in an exploration of blockchain technology at the level of technological category.
This paper explores the development, applications, and regulatory issues of Web3.0 as the next generation of internet technology. Web3.0 is based on technologies such as distributed computing, blockchain, artificial intelligence, and smart contracts, and it features decentralization, intelligence, and high security. This paper introduces the development, characteristics, technical architecture, and key technologies of Web3.0, as well as its applications and future development trends in areas such as digital currencies, decentralized finance, supply chain management, and digital identity. However, the decentralized nature of Web3.0 increases regulatory challenges, and the emergence of new businesses like digital currencies and smart contracts also poses challenges to traditional regulatory institutions. Therefore, this paper discusses the regulatory status and challenges of Web3.0 and proposes solutions. The aim of this paper is to provide references and insights for the research and application of Web3.0.
The realm of financial technology, or fintech, has been increasingly gaining attention and interest as it pertains to the integration of technology in financial services. This paper endeavors to provide an overview of various facets of fintech, including its impact on online payments, Peer-to-Peer (P2P) lending, Robo-advice, and blockchain technology. One significant effect of fintech is observed in the area of online payments, where traditional banking methods are being substituted with more advanced online payment systems. Fintech has emerged as a promising solution to the challenge of convenient, secure, and fast payment transactions for goods and services. P2P lending, another fintech innovation, enables borrowers to obtain loans without having to go through traditional financial institutions. This process has been simplified and made more accessible through the use of fintech platforms that connect borrowers with lenders. The paper also addresses the use of Robo-advice in fintech, which utilizes algorithms and artificial intelligence to provide financial advice to clients. Robo-advice technology has increased accessibility to financial advice for a more extensive range of people, reducing the barriers that might have limited access to this type of financial service. Finally, this paper examines the importance of blockchain technology in fintech, with its potential to streamline processes and ensure security in financial transactions. The decentralized nature of blockchain technology offers a robust solution to financial security, ensuring that transactions are secure, transparent, and immutable. In conclusion, the essay underlines the transformative potential of fintech in the financial industry with its numerous innovations.
Penny Wells, Georgia Probert, Daniel Marke, Claudia Konopka
Blockchain technology makes it possible to handle a transaction decentralized. We intend to outline the history of blockchain technology in this position paper, go over one of its key components, the smart contract, and discuss some of its recent uses in the cryptocurrency, financial services, risk management, and Internet of Things industries.
This study examines the use of blockchain<br> technology to construct a crowdfunding platform. The<br> opening section of the article looks at the current state of<br> crowdfunding and the shortcomings of conventional<br> platforms, including transparency, security, and<br> centralization concerns. The application of blockchain<br> technology through smart contracts is then introduced,<br> with a focus on its decentralized nature and capacity to<br> offer immutable, transparent records of transactions,<br> and its potential to address these shortcomings. In this<br> paper, the architecture and functionality of a<br> crowdfunding platform built on a blockchain network<br> are examined as a case study. The platform enables safe<br> and transparent fundraising, money tracking, and<br> incentive delivery.<br> The potential advantages as well as challenges of<br> establishing such a platform into operation are also<br> covered in the study, along with user acceptance and<br> regulatory issues. The main goal is to use Ethereum<br> especially smart contract technologies to make it easier<br> for people around the world toparticipate in campaigns<br> to raise funds. This gives contributors more influence<br> over their Ethereum contributions and makes it possible<br> for campaign designers and contributors to handle<br> funding for their projects effectively. The goal of using<br> Ethereum smart contracts on the crowdfunding<br> platform is to assure automatic contract execution to<br> stop fraud and promote confidence between fundraisers,<br> donors, and the platform.<br> The findings of this study imply that a blockchain-based<br> crowdfunding platform can overcome many of the<br> drawbacks of conventional crowdfunding platforms and<br> offer a more safe and transparent method of fundraising<br> after thorough investigation of the literature and case<br> studies.
Moritz T. Bruckner, Dennis M. Steininger, Jason Bennett Thatcher, Daniel Veit
Abstract Many firms use social media (SM) to solicit online investments. In this study, we examine the interaction between SM attributes and online-investment attributes to determine how this interaction shapes usersâ investment decisions. Specifically, we investigate initial coin offerings (ICOs) as an application domain of distributed ledger technology for peer-to-peer investment. We use signaling theory to develop a context-specific explanation for how the interplay of persuasion signals found in SM and technology-enforced lockups shapes individualsâ ICO investment decisions. To evaluate this interplay, we conducted a 2 Ă 2 factorial experiment with 473 participants. The results show that when an investment does not require a technology-enforced lockup, persuasion signals encourage investments in ICOs; however, when an investment requires a technology-enforced lockup, persuasion signals do not affect investments in ICOs. Furthermore, our analyses suggest that combining a technology-enforced lockup and persuasion signals reduces the ICOâs plausibility. This is the first study to investigate how the willingness to invest in ICOs is influenced by the relationship between technology-enforced lockups and persuasion signals. The findings have practical implications for individuals attempting to make sound decisions on ICO investments, policymakers regulating online investments, and firms seeking to attract investors.
Blockchain, as the basis for cryptocurrencies, has recently garnered significant attention. It is a type of immutable distributed ledger technology with key features including decentralization, anti-tampering, transparency, anonymity, and contract-autonomy. These attributes enable transactions to be conducted credibly within a decentralized environment. Such features are instrumental in enhancing services and driving the advancement of blockchain-based applications. The proliferation of blockchain-based applications across various sectors such as financial services, reputation systems, Internet of Things (IoT), among others is evident. However, there remain numerous challenges associated with blockchain technology such as scalability and security that require resolution. This article presents a comprehensive overview of blockchain technology and its applications. It begins by outlining the evolution of blockchain before providing an architectural overview and systematically reviewing the research and application of blockchain technology in diverse fields (including federated learning, reinforcement learning, cloud edge computing, intelligent transportation, power systems, and IoT) from both academic research and industry perspectives. Additionally highlighted are technical challenges alongside recent developments. Finally concluded are some challenges and future directions pertaining to the application of blockchain technology as well as broader perspectives for further study. Received: 24 July 2023 | Revised: 15 September 2023 | Accepted: 10 October 2023 Conflicts of Interest The authors declare that they have no conflicts of interest to this work. Data Availability Statement Data sharing is not applicable to this article as no new data were created or analyzed in this study. Author Contribution Statement Min An: Conceptualization, Methodology, Software, Formal analysis, Writing â original draft, Writing â review & editing, Visualization, Supervision, Project administration, Funding acquisition. Qiyuan Fan: Methodology, Resources, Supervision. Hao Yu: Methodology. Bo An: Conceptualization, Software, Data curation. Nannan Wu: Conceptualization, Data curation, Visualization, Project administration. Haiyang Zhao: Methodology, Validation, Resources. Xinhao Wan: Validation, Investigation. Jiaxuan Li: Validation, Investigation. Rui Wang: Validation, Investigation. Jingyu Zhen: Software, Formal analysis. Qinyan Zou: Software, Formal analysis. Bin Zhao: Software, Formal analysis.
Although blockchain technology has recently attracted a lot of attention, there are still several technical challenges, such as security and scalability. This paper provides a comprehensive overview of blockchain applications and smart contracts, their primary issues, and appropriate solutions, and will assist to identify any gaps and future study. It also identifies the areas in which recent studies have concentrated. 292 papers were picked for the study from the best digital libraries. Only 28 publications were taken into consideration after a thorough review procedure using predetermined inclusion and exclusion criteria.
Abstract Non-fungible tokens (NFTs) are a type of digital asset that can prove ownership of both virtual and physical assets using blockchains. Even though creating and trading NFTs have experienced a significant increase, research on the NFT market and its features is limited. In this study, we aim to bridge this gap by conducting a comprehensive analysis on the NFT market and its evolution from a network perspective. We examined the transactions network between NFT buyers and sellers and analyzed the structural characteristics of the NFT trades network. Additionally, we looked at how NFT usage and transactions have changed over time. Our findings indicate that a few participants are responsible for most of the NFT sales and purchases, while the majority of the addresses have only a few NFT transactions. Furthermore, we investigated the structural properties of the NFT trades network, including centrality measures, clustering coefficient, and assortativity, and how they have changed over time. We also explored the interactions between NFTs by constructing a graph of NFT relations. We identified four major communities and highlighted the top NFT projects in each community. We also examined the NFT projects that buyers mostly purchase together.
In this era, on the cusp of a new digital age characterized by rapidly accelerating technological advancements and novel challenges to traditional financial paradigms, cryptocurrencies and their inherent innovations hold substantial potential to markedly influence both the global economy and, notably, the financial landscape in Turkey. In this context, this comprehensive investigative study aims to thoroughly scrutinize the universe of cryptocurrencies, initiated with Bitcoin in 2008 and continually expanding with the development of numerous different cryptocurrency units ever since. It specifically aims to discuss the array of advantages, such as accelerating financial transactions, reducing transaction costs, enhancing traceability of financial operations, and diminishing restrictions in international payments, as well as the challenges, including volatility, illicit use, privacy, and regulatory uncertainties. The varied responses of governments and financial regulators to the increasing popularity of these new financial units, and their effects worldwide and specifically in Turkey, constitute a crucial part of this study's extensive examination. For a better understanding of the potential impacts of cryptocurrencies and the underlying blockchain technology, and how they may play a role in future financial systems, it is imperative for users to fully comprehend the benefits and risks offered by these novel technologies, as well as to closely observe technological progressions and societal adaptation processes to these innovative financial tools. In conclusion, this study seeks to provide a roadmap for identifying and analyzing the transformative potential of cryptocurrencies and their underlying technologies in how finance is operated and understood. While technological advancements and the growing popularity of cryptocurrencies present new opportunities and challenges for both the financial world and societies more broadly, understanding and properly guiding this domain is of paramount importance for the prosperity of future generations.
Mohamed Litoussi, Khalid El Makkaoui, Abdellah Ezzati
Blockchain technology has been gaining popularity in recent years, with many industries exploring its potential applications. This innovative technology has the potential to revolutionize the way we do business and interact with each other. It has emerged as a revolutionary innovation that promises to transform various industries by enabling secure, transparent, and decentralized transactions. The blockchain is a distributed ledger technology that uses cryptography to ensure the integrity and immutability of data. In this article, we will provide an overview of blockchain, including definitions, architecture, security, applications, and future directions
Darcy W E Allen, Chris Berg, Aaron M. Lane, Trent MacDonald · 5 authors
Abstract Blockchains have enabled innovation in distributed economic institutions, such as money (e.g., cryptocurrencies) and markets (e.g., decentralised exchanges), but also innovations in distributed governance, such as decentralised autonomous organisations. These innovations have generated academic interest in studying web3 governance, but as yet there is no general theory of web3 governance. In this paper, we draw on the contrast between a âromantic viewâ of governance (characterised by consensus through community voting) and the âexchange viewâ of governance from public choice theory (characterised by an entrepreneurial process of bargaining and exchange of voters under uncertainty). Our analysis is the first to argue that the latter âexchange viewâ of governance is best to understand the dynamics of governance innovation in web3, providing the foundations for a new general theory of governance in this frontier field. We apply the âexchange viewâ of governance to three case studies (Curve, Lido and Metagov), exploring how these projects enable pseudonymous, composable and permissionless governance processes to reveal value. Our approach helps illuminate how this emergent polycentric governance process can generate robustness in decentralised systems.
Ahmad Zakirullah Mohamed Shaarani, Fidlizan Muhammad, Azman Mohd Noor, Mohd Farihal Osman
Smart Contract is one of the new technological developments related to the Industrial Revolution 4.0 which emphasizes on the execution of contracts between two parties automatically based on the terms and conditions that have been agreed before. This concept minimizes the role of intermediaries that exist in traditionally executed contracts thus leading to positive effects such as cost reduction, saving time and money, less cases of fraud, manipulation and so on. Looking at the philosophy of smart contracts, it is in line with the Maqasid / Objectives of Syariah. However, the nature of this concept which relies on automation which means lack of human intervention in executing the content of the contract raises questions about shariah compliancy in the operationalization of this system especially regarding the function and eligibility of the computer system as a contracting parties rather that human, as well as what is fiqh adaptation for such concept, in addition to what is parameters and dawÄbit that is required to ensure that each product based on smart contracts is Shariah compliant in terms of its content, shariah monitoring process once the contract is executed, and other related issues. This study is based on a full library research where the concept of smart contracts is analyzed based on the framework of Shariah law in Muamalat, in addition to the latest technological developments related to it. The results of the study found that smart contract is an acceptable concept in Islam, but it needs some guidance and improvement to ensure it really coincides with the parameters required by Shariah, namely full compliance with the pillars and conditions of the contract, must also be in line with Maqasid al-Shariah and current applicable law, the existence of elements of compassion, consideration, tolerance/TasÄmuh and others.