Blockchain Papers

Follow blockchain research across journals, conferences, and preprint repositories.

7,420 papersLast indexed Aug 27, 2026
Search papers

Paper index

7,420 results · page 151 of 310

Clear filters
Apr 10, 2023·arXiv (Cornell University)
1 cites
SNIPS: Succinct Proof of Storage for Efficient Data Synchronization in Decentralized Storage Systems

Racin Nygaard, Hein Meling

Data synchronization in decentralized storage systems is essential to guarantee sufficient redundancy to prevent data loss. We present SNIPS, the first succinct proof of storage algorithm for synchronizing storage peers. A peer constructs a proof for its stored chunks and sends it to verifier peers. A verifier queries the proof to identify and subsequently requests missing chunks. The proof is succinct, supports membership queries, and requires only a few bits per chunk. We evaluated our SNIPS algorithm on a cluster of 1000 peers running Ethereum Swarm. Our results show that SNIPS reduces the amount of synchronization data by three orders of magnitude compared to the state-of-the-art. Additionally, creating and verifying a proof is linear with the number of chunks and typically requires only tens of microseconds per chunk. These qualities are vital for our use case, as we envision running SNIPS frequently to maintain sufficient redundancy consistently.

Open access
2 source records
cs.DC
Advanced Data Storage Technologies
Distributed systems and fault tolerance
Original source
Apr 10, 2023·Herald of Advanced Information Technology
3 cites
Requirements for the development of smart contracts and an overview of smart contract vulnerabilities at the Solidity code level on the Ethereum platform

Наталія Комлева, Oleksandr I. Tereshchenko

The article is devoted to the consideration of automated decentralized programs on the blockchain, which are a modern tool for processing transactions without the help of a trusted third party. The purpose of the study is to generalize and systematize information on the requirements for smart contracts, as well as review the vulnerabilities of smart contracts at the Solidity code level. The blockchain architecture was studied and the advantages of smart contracts compared to conventional contracts were determined, namely: risk reduction, reduction of administration and maintenance costs, and improvement of business process efficiency. A thorough analysis of current literature has been carried out and the current problems faced by users and developers of smart contracts have been identified. It is noted that the process of developing smart contracts is not sufficiently standardized and it is advisable to create a system of recommended requirements for smart contracts used in various subject areas. The requirements for smart contracts have been collected and analyzed for areas related to healthcare, education, business, project management, data analysis, software development, trading, logistics, and jurisprudence. It is determined that the mandatory requirements for all these subject areas are security, process transparency, determination of conditions and criteria for success, and automation of work. The rest of the requirements are analyzed and the concepts of the measure of coincidence and uniqueness of requirements for a particular subject area based on the corresponding functions are introduced. The coincidence and uniqueness measures were calculated for the considered subject areas. The proposed measures will allow in the future to obtain a quantitative assessment of templates for gathering requirements for programs, taking into account the used subject area. The article reviews and systematizes the types of vulnerabilities of smart contracts at the level of Solidity code on the Ethereum platform. The best practices to avoid such vulnerabilities and possible examples of their exploitation by attackers are identified. It has been shown that increasing the reliability of smart contracts will help increase trust in the blockchain among users.

Open access
Legal Studies and Reforms
Digital Transformation in Financial Services
Labor Market and Education
Original source
Apr 9, 2023·INTERANTIONAL JOURNAL OF SCIENTIFIC RESEARCH IN ENGINEERING AND MANAGEMENT
1 cites
Crime Evidence Over Blockchain

Shivani Shetty, Krutika Shinde, Deep Shelke, Ratnakar Garje · 5 authors

Blockchain is a digital ledger of transactions that is duplicated and spread over the whole network of computer systems on the blockchain, and it is a system of preserving information in a way that makes it difficult or impossible to edit or hack. Collecting, identifying, evaluating, analyzing, preserving, and presenting evidence is a difficult task in existing forensics. That's where the blockchain'sdecentralized nature comes into play, with forensic data being stored in the private network using the blockchain's nodes in a peer-to-peer network. Digitalforensics will also be more secure,and the investigation will be more transparent to those on the other side of the jurisdictional border. In the criminal investigation process, information that frequently changes is stored in the hotblockchain, and unchanging data such as videos are stored in the cold blockchain. In this we are using the Ethereum concepts and implementing smart contracts. Keywords - ledger, chain of custody, Hyperledger fabric, forensic.

Open access
Blockchain Technology Applications and Security
Environmental Engineering and Cultural Studies
Blockchain Technology in Education and Learning
Original source
Apr 8, 2023·International Journal of Scientific Research in Computer Science Engineering and Information Technology
0 cites
Decentralised Techniques Based White Paper Publication Portal

Hemang Joshi, Hitesh Mewada, Chandan Gupta, Zeyan Ansari · 5 authors

This paper presents the development of a web application, which aims to provide a platform for white paper authors to upload and have their documents reviewed by industry experts and scholars. The web app will utilize Ethereum block chain technology to provide security and authenticity to the uploaded white papers, which will be converted into non-fungible tokens to ensure their uniqueness. The authors will have the ability to self-upload their white papers onto a secured IPFS (Inter Planetary File System) database and use ERC721 (Ethereum Request for Comments) protocols to mint them as non-fungible tokens. In addition, the web app will allow white paper authors to receive crowdfunded support from users holding ETH in their web3 wallets. With our unique authentication system utilizing decentralized techniques, the Paper Publication Portal ensures that only verified authors can publish their work, enhancing both the security and credibility of the platform.

Open access
Blockchain Technology Applications and Security
FinTech, Crowdfunding, Digital Finance
Spam and Phishing Detection
Original source
Apr 8, 2023·International Journal of Research Publication and Reviews
0 cites
DApp (Decentralized Application) Development and Evaluation for Safe Student Credential Sharing on the Blockchain

Farooq Sunar Mahammad, S. Sai Shreya, H. Beebe Hazeera, P. Sravani · 6 authors

Decentralized Application is majorly used for sharing the most important information of the students' among various users.Blockchain technology is used to address security concerns associated with students' credential sharing.A revolutionary blockchain-based architecture is proposed, and the application is then built as a distributed one (DApp).In order to avoid the counterfeiting of the students' credentials the features of block chain technology are more widely used.This application is used to share the credentials of the student by the college/school directly to student and those data can be used by the companies those who recruit students can directly access students' data by getting the permission from students' without any third-party involvement, this saves time and money.Ethereum framework is used to create an application in which Truffle framework is used to make the developer's life easier by creating smart contracts and has the migration and uses web3.js as it is beginner friendly.Furthermore, the results of the tests are used to analyses both costs and efficiency.

Open access
Cloud Data Security Solutions
Original source
Apr 7, 2023·Research Square
1 cites
Etherswap (A crypto wallet)

Kaushalya Thopte Kaushalya, Yukta Pedhavi Yukta, Deepak Gavit Deepak, Suyash Gaikwad Suyash · 6 authors

Abstract This project aims to produce a cryptocurrency blockchain application. An online application can be accessed via this Blockchain Application System. Everyone with a net connection is able to access it throughout the Internet. This programme will assist the user in sending and receiving Ethereum over the blockchain network. A blockchain is a distributed, trustworthy data repository. Public-key cryptography and the Nobel idea are combined to make it work. The legitimate owner of the resource being traded signs each transaction on the blockchain. New currencies (resources) are created and given to an owner. Simply embed the new owner's public key in the transaction and sign it with the owner's private key to get ready for subsequent transactions that deliver those coins to other people. In this manner, a verifiable chain of transactions is established, with each new transaction linking to the previous transaction with the previous owner and having a new owner.

Open access
Blockchain Technology Applications and Security
Peer-to-Peer Network Technologies
Advanced Steganography and Watermarking Techniques
Original source
Apr 6, 2023·arXiv (Cornell University)
5 cites
A Comprehensive Survey of Upgradeable Smart Contract Patterns

Sajad Meisami, William Edward Bodell

In this work, we provide a comprehensive survey of smart contract upgradability patterns using proxies. A primary characteristic of smart contracts on the Ethereum blockchain is that they are immutable once implemented, no changes can be made. Taking human error into account, as well as technology improvements and newly discovered vulnerabilities, there has been a need to upgrade these smart contracts, which may hold enormous amounts of Ether and hence become the target of attacks. Several such attacks have caused tremendous losses in the past, as well as millions of dollars in Ether which has been locked away in broken contracts. Thus far we have collected many upgradable proxy patterns and studied their features to build a comprehensive catalog of patterns. We present a summary of these upgradable proxy patterns which we collected and studied. We scraped the source code for approximately 100000 verified contracts from Etherscan.io, the most popular block explorer for Ethereum, out of which we extracted around 64k unique files - most containing multiple contracts. We have begun to automate the analysis of these contracts using the popular static analysis tool Slither, while at the same time implementing much more robust detection of upgradable proxies using this framework. Comparing the results of the original implementation to our own, we have found that approximately 70 percent of the contracts which were initially flagged as upgradeable proxies are false positives which we have eliminated.

Open access
2 source records
Blockchain Technology Applications and Security
Internet Traffic Analysis and Secure E-voting
Spam and Phishing Detection
Original source
Apr 5, 2023
1 cites
CeFi, Fintech and DeFi – Understanding the Benefits, Limitations and Challenges

Keshab Nath

<p>The proliferation of novel technologies such as Web3.0, Blockchain, Smart Contracts, and Cryptocurrency has resulted in a burgeoning interest in the concept of Decentralized Finance (DeFi). DeFi represents a transformation in financial instruments that diverges dramatically from traditional financial systems that rely on centralized platforms governed by government entities and various intermediaries. Instead, DeFi is predicated on a protocol that operates on a decentralized infrastructure facilitated by Blockchain, particularly Ethereum. This decentralization permits software developers to create bespoke, high-performance, and secure financial platforms that are universally available to anyone with an internet connection and a computing device. DeFi's intrinsic value is predicated on its ability to empower millions of individuals worldwide who lack access to conventional financial systems (over 1.7 billion people globally are unbanked for various reasons) to control their finances and engage in transactions with anyone. This decentralized framework ensures equal access and unprecedented economic growth while simultaneously addressing concerns such as centralized control, restricted access, inefficiencies, lack of interoperability, and obscurity.</p>

Open access
2 source records
FinTech, Crowdfunding, Digital Finance
Blockchain Technology Applications and Security
Original source
Apr 4, 2023·Aerospace
11 cites
A Novel Fault-Tolerant Air Traffic Management Methodology Using Autoencoder and P2P Blockchain Consensus Protocol

Seyed Mohammad Hashemi, Seyed Mohammad Hashemi, Seyed Ali Hashemi, Seyed Ali Hashemi · 6 authors

This paper presents a methodology for designing a highly reliable Air Traffic Management and Control (ATMC) methodology using Neural Networks and Peer-to-Peer (P2P) blockchain. A novel data-driven algorithm was designed for Aircraft Trajectory Prediction (ATP) based on an Autoencoder architecture. The Autoencoder was considered in this study due to its excellent fault-tolerant ability when the input data provided by the GPS is deficient. After conflict detection, P2P blockchain was used for securely decentralized decision-making. A meta-controller composed of this Autoencoder, and P2P blockchain performed the ATMC task very well. A comprehensive database of trajectories constructed using our UAS-S4 Ehécatl was used for algorithms validation. The accuracy of the ATP was evaluated for a variety of data failures, and the high-performance index confirmed the excellent efficiency of the autoencoder. Aircraft were considered in several local encounter scenarios, and their trajectories were securely managed and controlled using our in-house Smart Contract software developed on the Ethereum platform. The Sharding approach improved the P2P blockchain performance in terms of computational complexity and processing time in real-time operations. Therefore, the probability of conflicts among aircraft in a swarm environment was significantly reduced using our new methodology and algorithm.

Open access
Air Traffic Management and Optimization
Traffic control and management
Traffic Prediction and Management Techniques
Original source
Apr 3, 2023·WSEAS TRANSACTIONS ON COMPUTER RESEARCH
5 cites
Comparison Study of the Top 5 Leading Cryptocurrencies based on General Consensus Protocol: Bitcoin, Ethereum, Tether, XRP and Bitcoin Cash

Mohammad A. AlAhmad, Adel Alfouderi, Ahmad Alonaizi, Meshal Aldhamen

Bitcoin has had a tremendous impact on the monetary system around the globe today since its launch in 2009 by its founder, Satoshi Nakamoto. Since then, over three thousand cryptocurrencies have risen to compete with traditional fiat currencies. While many experts believe that cryptocurrencies are more comparable to assets like gold, few others believe that cryptocurrencies could replace traditional fiat currencies as a medium of payment, just as Satoshi envisioned when he published the Bitcoin protocol. As such, there exist few papers in the literature discussing the potential for Bitcoin to become a major payment currency. Nevertheless, there is a lack of research in evaluating whether Bitcoin is set to dominate the market as a payment currency, or whether another cryptocurrency would take the lead. In addition, the issue of strict regulation capping the potential of cryptocurrencies has been well-studied in the literature and, hence, this paper tries to evaluate the top five leading cryptocurrencies (based on their market cap value as of July 2020) from a different perspective. Particularly, the evaluation is based on five benchmark evaluation factors: Speed, Activity, Decentralization, Users, and Community. For this preliminary study, we assign all these benchmarks an equal weight. Our conclusion shows that Ethereum could be more suitable as a future payment currency rather than Bitcoin.

Open access
Blockchain Technology Applications and Security
FinTech, Crowdfunding, Digital Finance
Banking stability, regulation, efficiency
Original source
Apr 3, 2023·Journal of Network and Computer Applications
241 cites
Blockchain for healthcare systems: Architecture, security challenges, trends and future directions

J. Andrew, Deva Priya Isravel, K. Martin Sagayam, Bharat Bhushan · 6 authors

Blockchain has become popular in recent times through its data integrity and wide scope of applications. It has laid the foundation for cryptocurrencies such as Ripple, Bitcoin, Ethereum, and so on. Blockchain provides a platform for decentralization and trust in various applications such as finance, commerce, IoT, reputation systems, and healthcare. However, prevailing challenges like scalability, resilience, security and privacy are yet to be overcome. Due to rigorous regulatory constraints such as HIPAA, blockchain applications in the healthcare industry usually require more stringent authentication, interoperability, and record sharing requirements. This article presents an extensive study to showcase the significance of blockchain technology from both application and technical perspectives for healthcare domain. The article discusses the features and use-cases of blockchain in different applications along with the healthcare domain interoperability. The detailed working operation of the blockchain and the consensus algorithms are presented in the context of healthcare. An outline of the blockchain architecture, platforms, and classifications are discussed to choose the right platform for healthcare applications. The current state-of-the-art research in healthcare blockchain and available blockchain based healthcare applications are summarized. Furthermore, the challenges and future research opportunities along with the performance evaluation metrics in realizing the blockchain technology for healthcare are presented to provide insight for future research. We also layout the various security attacks on the blockchain protocol with the classifications of threat models and presented a comparative analysis of the detection and protection techniques. Techniques to enhance the security and privacy of the blockchain network is also discussed.

Open access
Blockchain Technology Applications and Security
IoT and Edge/Fog Computing
Original source
Apr 2, 2023·European Journal of Business Management and Research
19 cites
Analyzing the Interaction between Tweet Sentiments and Price Volatility of Cryptocurrencies

Peyman Alipour, Sina E. Charandabi

With growing interest toward investments in the cryptocurrency market, prediction of the volatility of the price increasingly becomes important. Given the popularity of social media activity to reflect market trends in recent years, sentiment analysis has been recognized as a great contributing factor to predict financial markets. Using a sample of Bitcoin and Ethereum trade data, this study intends to provide insights on the association between twitter activity about cryptocurrencies and fluctuations of their price. To this end, we implement regression analysis alongside Vector Autoregression method to examine to what extent sentiment-related measures are capable of explaining the volatility of the prices of cryptocurrencies and whether the mutual influence of sentiment and volatility improves the accuracy of the model. Results indicate that the accuracy of predictions vary across the two tested cryptocurrencies, and also two different lexicon approaches used to calculate sentiment scores.

Open access
Blockchain Technology Applications and Security
Stock Market Forecasting Methods
Digital Marketing and Social Media
Original source
Apr 2, 2023·Engineering International
6 cites
Evaluating Current Techniques for Detecting Vulnerabilities in Ethereum Smart Contracts

Sai Sirisha Maddula

Ethereum intelligent contract security must be guaranteed since these decentralized apps oversee large-scale financial transactions independently. To strengthen the dependability and credibility of Ethereum smart contracts, this paper assesses existing methods for finding weaknesses in them. The primary goals are to evaluate how well hybrid approaches, formal verification, dynamic analysis, and static analysis find vulnerabilities. Methodologically, a thorough assessment of available resources and instruments was carried out to evaluate the advantages and disadvantages of each approach. Important discoveries show that although static analysis covers a large area, it ignores runtime-specific problems and produces false positives. While highly effective in finding runtime vulnerabilities, dynamic analysis is resource-intensive. High assurance is provided by formal verification, although it is complex and resource-intensive. Hybrid approaches combine several approaches to provide a well-rounded strategy but must be used carefully. The policy implications emphasize that to limit risks effectively, it is crucial to embrace multifaceted security techniques, set explicit norms, and promote easily accessible verification tools. This research advances our knowledge of smart contract security and guides policymakers and developers on securing blockchain applications.

Open access
Blockchain Technology Applications and Security
Advanced Malware Detection Techniques
Adversarial Robustness in Machine Learning
Original source
Apr 1, 2023·Wuhan University Journal of Natural Sciences
1 cites
A Blockchain-Based Certificate System with Credit Self-Adjustment

Wang ZHOU, Jun Tao, Xin Li

Currently, digital certificate systems based on blockchain have been extensively developed and adopted. However, most of them do not take into account the certificate quality. To evaluate the credibility of certificates issued by educational institutions, we propose a novel blockchain-based system with credit self-adjustment (BC-CS). In BC-CS, employers can provide feedback according to the performances of their employees (i.e., students) holding different certificates. Based on the feedback, BC-CS automatically adjusts the certificate credits by using our proposed credit self-adjustment algorithm. To verify the feasibility of our proposed system, a decentralized application prototype has been developed on an Ethereum network. Experimental results demonstrate that the proposed system can fully support multi-step accreditation and automatic adjustment for certificate credit.

Open access
Blockchain Technology Applications and Security
Peer-to-Peer Network Technologies
Caching and Content Delivery
Original source
Apr 1, 2023·Highlights in Science Engineering and Technology
5 cites
The Advance of Cryptocurrency Wallet with Digital Signature

Pu Ji

This paper explains the composition of the cryptocurrency wallet by analyzing a wallet’s components, functions, categories, the algorithm of signing, and security features as three major components used in the constitute of the cryptocurrency wallet, private key, public key, and address are introduced from their generation process with specific Elliptic Curve Digital Signature Algorithm secp256k1 and Keccak hash function. A variety of crypto wallets are divided into different categories by their purpose of use, the form of display, and Internet connectivity, and multiple crypto wallets are explained in the second part of this paper. The elliptic curve secp256k1 is selected in Ethereum for both calculating the public key information and performing signing transactions. This paper details secp256k1 and Keystore used behind the signing process and security of cryptocurrency wallet and outlines potential risks due to the development of computing power and transfer of validation system in Ethereum.

Open access
Chaos-based Image/Signal Encryption
Advanced Steganography and Watermarking Techniques
Cryptography and Data Security
Original source
Apr 1, 2023·Highlights in Science Engineering and Technology
0 cites
Construction Method of Casino based on Ethereum

Jianzhi Rong

There are a lot of things that humans cannot do, and one of them is being fair, especially when he is running a casino. However, Ethereum can. Constructing a casino that is regulated by Ethereum can give us the first fair casino in the world. With the help of some technics of cryptography, which are public/secret key schemes and one-way functions, the secrecy and privacy in the gambling of each player can be ensured while still making the game fair by the blockchain. During the construction, Ethereum is also found to be fit for the casino’s other aspects such as propaganda and payment. By successfully constructing such a casino, a way of converting the fixity of blockchain into fairness is proposed in the area that needs it and lacks it the most, which is a casino. Following down this road, any area that lacks fairness can exploit Ethereum or block-chain to find a way to achieve fairness.

Open access
Blockchain Technology Applications and Security
Blockchain Technology in Education and Learning
Original source
Apr 1, 2023·Highlights in Science Engineering and Technology
0 cites
The Advance of Ethereum Digital Signature

Mengyao Li

Ethereum digital signatures have been found to make progress, but there has yet to be a consensus regarding their significance and process. Using digital signatures in Ethereum ensures the security of users' money and the Safety of their transportation. Elliptic Curve Digital Signature Algorithm (ECDSA), private key, and public key play an important role here. This paper analyzes the details of Ethereum's Digital Signature based on existing information. First, it explained the general background information about Ethereum. Send explain the ERC-20. ERC-20 are digital assets that represent value. They could become more compatible with the new standard and allow other features. Then digital signatures are explained in detail. This part included ECDSA, private key, and public key. ECDSA is the most critical algorithm during the production process. Private and public keys are the key features to ensure Safety. The last part is the Keystore file system. Using the Keystore file system, users can secure their private keys for their cryptocurrency wallets. To access their account, the user must have a password generated by them. The unencrypted files, on the other hand, create a vulnerability in the key store, which is exposed by these unencrypted files. Once an attacker obtains the user's unencrypted key, he cannot only take control of the account but also sign transactions on behalf of the user.

Open access
Cryptography and Data Security
Cloud Data Security Solutions
Chaos-based Image/Signal Encryption
Original source
Apr 1, 2023·Highlights in Science Engineering and Technology
3 cites
The Analysis of the Risks and Improvements of ERC20 Tokens

Changjin Zhang

Blockchain is a decentralized, shared ledger that aggregates blocks of data in a factual data structure in chronological order using a chain structure. Two hundred sixty thousand tokens, or 98% of the around 2.5 million smart contracts in Ethereum network, are ERC-20 tokens. The ERC20 standard specifies constructors for token contracts that establish and initialize the contract state. The Ethereum wallet and Ethereum decentralized, centralized applications can access tokens through these standard interfaces. Security vulnerabilities in ERC-20 have drawn a lot of attention lately in recent years. This paper summarizes some basic security vulnerabilities and suggests avoiding multiple withdrawal attacks. Tokens can be used to support dApps, access blockchain services, trade, and obtain voting rights. Various tokens exist depending on their properties and use cases, including governance, utility, security, transaction, and platform tokens. Tokens can be sorted as fungible tokens and non-fungible tokens. Tokens that can be fungible are identical, divisible, and can be instead of money. Non-fungible tokens have a single owner and are unique.

Open access
Blockchain Technology Applications and Security
Cloud Data Security Solutions
Cloud Computing and Resource Management
Original source
Apr 1, 2023·Operations Management Research
85 cites
Supply chain traceability using blockchain

Pedro Vieira de Azevedo, Jorge Gomes, Mário Rom�ão

Abstract In the current global marketplace supply chains can span a huge number of countries, cross many borders and require interoperation of a multitude of organizations. This vastness of supply chains impacts business competitiveness since it adds complexity and can difficult securing traceability, chain of custody and transparency. We propose that assuring chain of custody and traceability via Blockchain (BC) allows organizations to demonstrate product provenance, integrity and compliance. This work proposes that to effect true traceability the more complete approach is to connect both the Supply Chain Actors (SCAs) and products identifications using digital certificates. A Blockchain is used to manage the traceability of products and validation of the identities. Importing, verifying and storing the certificates uses an off-chain data storage solution for products certificates, IDs and data (i.e., WalliD) . To create, validate the certificates and setup the chain of trust a Public Key Infrastructure (PKI) was designed as part of the proposal. Our study follows a Design Science research approach aimed to analyse the requirements and propose a solution to a more complete traceability in supply chains. The results were architectural artifacts, including an Ethereum Smart Contract and a PKI based certificate authentication system. The implementation of these deliverables allow for a supply chain system that can provide decentralized and trustful assurance of the provenance, chain of custody and traceability functionalities for all the Organizations and also for the final consumers. To exemplify the problem and demonstrate the applicability of the solution, its potential and benefits we applied it to a real food supply chain use case that already uses provenance certificates and stored them in the blockchain using the before mentioned SmartContract to assure and demonstrate the chain of custody and traceability of the food produce.

Open access
Food Supply Chain Traceability
Blockchain Technology Applications and Security
Food Waste Reduction and Sustainability
Original source
Apr 1, 2023·Highlights in Science Engineering and Technology
3 cites
Price Prediction of Cryptocurrency based on LSTM Model: Evidence from Ethereum

Diming Xu

Contemporarily, under the impacts of COVID-19 and regional conflicts with radicalness fiscal policy, the prices of cryptocurrency have been fluctuated dramatically. Among various types of cryptocurrency, Ethereum is one of the most volatility assets. In order to avoid risks as well as gain extra return in the crypto market, it is necessary to construct accurate prediction approach. In this paper, the Long Short-Term Memory algorithm will be used to predict the future price of Ethereum by learning Ethereum's past price direction data. price trend by learning Ethereum's past price trend data. Based on the analysis, the predicted values of the trained model fit well with the actual data, with the regression evaluation index R2 of 97.08% and MAPE of 6.89%. According to the results, it is feasible to predict the future price trend through the past price trend data. Nevertheless, it should be noted that the stochastic process in data training might lead to the instability of model performances. Hence, it is necessary to train the data several time to select the best models. Overall, these results shed light on guiding further exploration of cryptocurrency price forecasting in terms of the state-of-art neural networks.

Open access
Blockchain Technology Applications and Security
Stock Market Forecasting Methods
Complex Systems and Time Series Analysis
Original source
Apr 1, 2023·Highlights in Science Engineering and Technology
14 cites
Proof of Work vs. Proof of Stake in Cryptocurrency

Shijie Lin

This research document demonstrates the understanding of two key elements: Proof of Work (PoW) and Proof of Stake (PoS) within cryptocurrency. Cryptocurrency is often misunderstood as just volatile and risky but many investors do not understand what it even is. What is proof of work (BTC)? What is proof of stake (ETH)? How are they similar and how are they different? Cryptocurrency is actually more relatable that originally imagined once a person understands digital currency, money, it’s origins, and how they hold similar monetary value within their own wallets. Cryptocurrency in PoW involves complicated mathematical equation solving via mining from a large growing pool of miners. These miners receive rewards such as bitcoin/tokens/etc. from their mined hash blocks verified, and blocks added to the blockchain. Challenges are that there are many miners and there may be a computational limit per core of each PC to be able to mine since Bitcoin has increased its difficulty 70 billion times since it started. BTC or Bitcoin is still widely trusted due to its increasing difficulty to race to the finish line to finish the advanced math computations. Whereas within PoS this is not a race between the masses and advanced math computations, but a validator that generally has more put in their stake vs. gained by receiving the processing fees associated. ETH or Ethereum has shifted from PoW to PoS for its better energy efficiency in resources. It has employed many other additional checks from Casper to Gasper which is the combination of Casper (fork-choice algorithm), LMD-GHOST (heavest observed subtree), and finality which requires 2/3rd agreement as well as once a block is justified it is upgraded to a finalized block. the similarities between the two PoW and PoS are that they are consensus-driven algorithms. They are designed to reach an agreement between the systems in place before each block is placed in the blockchain. Additionally, they also have a shared public ledger that operates on a global if not international scale. With blockchains, there is always only one true version and this is relying on a network rather than a governing authority like a bank/government entity to provide security and to prevent fraudulent transactions. It is still widely contested which is better than these two well-known consensus algorithms and it is still widely contested. The best answer is suited on a per investor per business basis in terms of the willingness of taking a risk just like any investment. This document serves to help provide guidance in the understanding of cryptocurrency of two main consensus algorithms, its similarities, differences, and help identify see what a potential investor the reader may be.

Open access
Blockchain Technology Applications and Security
Market Dynamics and Volatility
Original source
Mar 31, 2023·Russian Law Journal
1 cites
CRYPTOCURRENCY AND TECHNOLOGY: COULD IT REVOLUTIONIZE THE ECONOMIC PROSPERITY?

PROF AMIT DHALL SHEKHAR GEHLOT

Cryptocurrency has been one of the most revolutionizing financial innovation of the 21st century. Cryptocurrency, led by bitcoin and Ethereum has shown promising potential to solve the global financial and economic problems and barriers. The journey of the cryptocurrency, from $0.000 to $27334 (Bitcoin) has also been no less than a charm. The cryptocurrency has seen equally dramatic and polarizing responses as well, from being called the latest gold to being dismissed as another hawala technique, the cryptocurrencies remained hugely debated and controversial financial technology of the second decade of the 21st century. Cryptocurrency evoked emotional responses and hysteria from the governments across the globe and received extreme reactions from being declared as the legal tender in some countries to being completely outlawed in another. A set of financial pundits are lauding the promises the latest innovation hold while another is busy calling it a bubble and have written obituaries, in advance. Whatever may be the ultimate fate of the cryptocurrency such as bitcoin or Ethereum but it is a sure thig that the technology would stay and would be used by various countries for tailor made financial schemes as all nations and financial institutions such as IMF and World Bank have expressed keen interest in appreciating and evaluating the potentials of technology underpinning the cryptocurrencies.
 But does the cryptocurrency hold any real potential or is it a mere farce? This research article sprang up from the curiosity set up by this question and in this article the researcher shall make an honest attempt to answer many of the potentials of the cryptocurrency and its underlying technologies, more particularly, blockchain. Researchers would also ultimately delve into the million dollar question, How could cryptocurrency revolutionise the economic prosperity.

Open access
Blockchain Technology Applications and Security
Original source
Mar 31, 2023·arXiv (Cornell University)
4 cites
The Blockchain Imitation Game

Kaihua Qin, Stefanos Chaliasos, Liyi Zhou, Benjamin Livshits · 6 authors

The use of blockchains for automated and adversarial trading has become commonplace. However, due to the transparent nature of blockchains, an adversary is able to observe any pending, not-yet-mined transactions, along with their execution logic. This transparency further enables a new type of adversary, which copies and front-runs profitable pending transactions in real-time, yielding significant financial gains. Shedding light on such "copy-paste" malpractice, this paper introduces the Blockchain Imitation Game and proposes a generalized imitation attack methodology called Ape. Leveraging dynamic program analysis techniques, Ape supports the automatic synthesis of adversarial smart contracts. Over a timeframe of one year (1st of August, 2021 to 31st of July, 2022), Ape could have yielded 148.96M USD in profit on Ethereum, and 42.70M USD on BNB Smart Chain (BSC). Not only as a malicious attack, we further show the potential of transaction and contract imitation as a defensive strategy. Within one year, we find that Ape could have successfully imitated 13 and 22 known Decentralized Finance (DeFi) attacks on Ethereum and BSC, respectively. Our findings suggest that blockchain validators can imitate attacks in real-time to prevent intrusions in DeFi.

Open access
2 source records
cs.CR
Blockchain Technology Applications and Security
Crime, Illicit Activities, and Governance
Original source
Mar 31, 2023·Pro Sciences Revista de Producción Ciencias e Investigación
0 cites
Técnicas de minado de criptomonedas: Proof of Work vs Proof of Stake

Erik Vladimir Morocho Gualpa, Cristhian Humberto Flores Urgilés, José Antonio Carrillo Zenteno, Luis Fernando Pinos Castillo

La tecnología de las criptomonedas, ha tenido un gran alcance en la sociedad a nivel mundial, especialmente en el área de minado, a través de equipos informáticos en los diferentes métodos de consenso. Puesto que los usuarios realizan el proceso de minado a cambio de recompensas económicas. El presente proyecto de investigación permite realizar una comparativa entre el método de consenso Proof of Work y Proof of Stake, en donde los objetivos planteados fueron: a) Realizar un análisis comparativo entre las dos técnicas de minado de Criptomonedas Proof of Work vs Proof of Stake utilizando indicadores tanto técnicos como financieros para determinar la mayor eficiencia, b) Realizar un estudio teórico sobre los conceptos relacionados a minería de criptomonedas, c) Analizar el marco positivo de la actividad de minado de las criptomonedas, d) Seleccionar la técnica más adecuada de minado. Previo al proceso de minado realizado a través de la tarjeta gráfica NVIDIA RTX 3060 con la criptomoneda Ethereum en el método PoW y al estudio de rentabilidad y de consumo, se determina que no es factible realizar el minado cuando el precio de una criptomoneda baja ya que la ganancia es proporcional. Además, se concluye que de los métodos de consenso comparados, Proof of Stake (PoS) es el más adecuado para minería, puesto que no consume mucha energía y tiene mayor escalabilidad.

Open access
Business, Innovation, and Economy
Original source