The phenomenon of buying and selling online continues to grow, especially in 2022, when Ghozali shocked the Indonesian people by selling 933 non-fungible token digital works for $1.5 billion on the OpenSea Online Market. But not all people respond, because everyone can sell other people's art, sell images that contain pornography, and commit fraud under the guise of investment. In Sharia economic law, on the other hand, the element of fraud and the sale of something that does not belong to him are prohibited. The mechanism of buying and selling non-fungible tokens on the OpenSea online market is discussed in this study, as well as how the law is based on Islamic economics.This type of research uses a qualitative approach by seeking direct data from parties involved in buying and selling non-fungible tokens on the Opensea online marketplaces, from journals, articles, books, and other sources. The theory of "al-mal" and "al-bai' is used to analyze this research using a qualitative deductive method. The results of the research show three mechanisms in the practice of buying and selling non-fungible tokens on the Opensea online marketplace, which include the creation, sale, and purchase of digital artwork, and most of them are carried out on the Ethereum and Polygon blockchain platforms. According to sharia economic law, when buying and selling non-fungible tokens on the Opensea online market is analyzed using the mall theory, the majority of Ulama argue that non-fungible tokens can be classified as malls, while some groups of followers of Imam Hanafi do not justify non-fungible tokens as malls because of their non-concrete nature. Meanwhile, if it is captured using the "bai' theory, the practice of buying and selling non-fungible tokens is not covered by sharia because, in practice, people can easily sell other people's digital artwork, sell images that contain pornographic elements, and are very vulnerable to involvement in non-fungible token sale scams such as forgery of digital artwork descriptions and investment scams. As for those who can avoid all these negative elements, then they are returned to the original law of bai', namely mubah.
The Ethereum blockchain’s smart contract is a programmable transaction that performs general-purpose computations and can be executed automatically on the blockchain. Leveraging this component, blockchain technology (BT) has grown beyond the scope of cryptocurrencies and can now be applicable in various industries other than finance. In this paper, we investigated the current trends in Ethereum-based decentralized applications (DApps) to be able to categorize and analyze the DApps to measure the complexity of smart contracts behind them, their level of security and their correlation to the maintainability of the DApps. We leveraged the source code analysis, security analysis, and the developmental metadata of the DApps to infer this correlation. Based on our findings, we concluded that the maintainability of Ethereum DApps is proportional to the code size, number of functions, and, most importantly, the number of outgoing invocations and statements in the smart contracts.
At present, academics have researched the directions that may become performance bottlenecks in blockchain systems, such as consensus protocols, encryption algorithms and contract execution. For example, in recent years, many improvements to consensus protocols have greatly improved the throughput of blockchain systems. However, the bottleneck of blockchain smart contract execution has not been well solved. Currently, the miner-validator architecture based on serial contract execution limits the throughput of smart contract execution to a great extent. This paper proposes a new smart contract parallel execution architecture, which migrates the concurrency control methods used in mature databases to the blockchain. The test of Ethereum data and a benchmark specifically for blockchain show that its throughput is greatly improved compared with the traditional serial execution mode.
Smart contracts on Ethereum evolve rapidly and lack explicit feedback, so it becomes necessary to use implicit feedback for recommendations. This paper proposes a collaborative filtering recommendation algorithm based on the user preferences list (UPLS-CF) to solve the above problems. We propose a pseudo rating generator to convert the implicit feedback data into explicit ratings and use collaborative filtering-based recommendation algorithm to complete top-N recommendations for smart contracts. In addition, we introduce user preference information to improve the accuracy of recommendations. Extensive experiments on datasets show that the algorithm proposed in this paper improves Precision by 15.975%, Recall by 12.116%, and HR by 20.815%. The results show that it can improve the algorithm's accuracy and can effectively recommend smart contracts to Ethereum users to combine the proposed algorithm with the user preference information.
The set of services by Decentralized Finance (DeFi) and by traditional finance intersects. Loans are examples of the intersection. Data scientists have no access to the loan data of the traditional banking system due to trade secrecy and client privacy reasons. Also, banks’ operation is well regulated. Modern DeFi loan data is openly available in public blockchains the corresponding projects operate in. But the problem is to represent DeFi’s conveniently for analysis. At the same time, DeFis are unregulated. In the paper, we consider a decentralized Ethereum protocol to lend and borrow assets called Compound. We design a relational database, fill it with the project’s data, and provide statistical details. The results help overcome the entering threshold for further data analysis.
Darshana M Chigari, Dashvath R, Chandrakanth K J, Bhavya Das D · 5 authors
The evolution of Blockchain has given way to a Smart World where there is improved security and integration of devices, systems, and processes with humans through all-pervasive connectivity. There are numerous secure applications using Blockchain like smart cities, Cloud Computing, Smart Management of the Environment and Healthcare, etc.A decentralized voting system is an option for the paper ballot system and EVM (Electronic Voting Machines). Democracies need a decentralized voting system that offers security, integrity, immutability, transparency, and privacy to voters. Blockchain is an emerging technology that offers integrity, immutability, and decentralization of data. Moving our traditional voting system to Blockchain technology can increase voter confidence. This paper describes an attempt to influence the advantages of Blockchain, such as cryptography and transparency, to accomplish an efficient scheme for a decentralized voting system using the Ethereum network. Smart contracts are profound chunks of codes, which are included in the Blockchain and then execute written code as planned in each stage of Blockchain updates. Decentralized voting is one of the trending topics, but is yet to be significant, compared to the other e-services.
The goal was to develop a concept for the useful application of tokens in the learning platform of the Blockchain Academy Mittweida (BCAM). Thereby, imparted knowledge about the blockchain should become tangible for users. Based on the research of existing concepts, different ideas were developed and their use was tested. In the process, the specifics of the e-learning sector as well as those of blockchain technology are considered. Combining tokenization, e-learning, and gamification, a token model was finally developed, which is technically based on a smart contract of the Ethereum Blockchain. The model includes tokens that users can collect and exchange for badges. The badges are in turn represented as NFTs.
The recent COVID-19 pandemic has underlined the significance of digital health record management systems for pandemic mitigation. Existing smart healthcare systems (SHSs) fail to preserve system-level medical record openness and privacy while including mitigating measures such as testing, tracking, and treating (3T). In addition, current centralised compute architectures are susceptible to denial of service assaults because of DDoS or bottleneck difficulties. In addition, these current SHSs are susceptible to leakage of sensitive data, unauthorised data modification, and non-repudiation. In centralised models of the current system, a third party controls the data, and data owners may not have total control over their data. The Coviblock, a novel, decentralised, blockchain-based smart healthcare assistance system, is proposed in this study to support medical record privacy and security in the pandemic mitigation process without sacrificing system usability. The Coviblock ensures system-level openness and trustworthiness in the administration and use of medical records. Edge computing and the InterPlanetary File System (IPFS) are recommended as part of a decentralised distributed storage system (DDSS) to reduce the latency and the cost of data operations on the blockchain (IPFS). Using blockchain ledgers, the DDSS ensures system-level transparency and event traceability in the administration of medical records. A distributed, decentralised resource access control mechanism (DDRAC) is also proposed to guarantee the secrecy and privacy of DDSS data. To confirm the Coviblock’s real-time behaviour on an Ethereum test network, a prototype of the technology is constructed and examined. To demonstrate the benefits of the proposed system, we compare it to current cloud-based health cyber–physical systems (H-CPSs) with blockchain. According to the experimental research, the Coviblock maintains the same level of security and privacy as existing H-CPSs while performing considerably better. Lastly, the suggested system greatly reduces latency in operations, such as 32 milliseconds (ms) to produce a new record, 29 ms to update vaccination data, and 27 ms to validate a given certificate through the DDSS.
NFT (non-fungible tokens) terimi, misli olmayan kripto varlıkları ifade etmek için kullanılmaktadır. Son günlerde bir yatırım aracı olarak oldukça yaygın hale gelen NFT’leri kripto paralar olarak da bilinen “fungible tokens” yani misli kripto varlıklardan ayıran yönü biri diğerinin yerine geçmeyen, eşsiz kripto varlıklar olmalarıdır. Her ikisinin ortak noktası ise blokzincir teknoloji altyapısını kullanması ve transferlerinin ağ üzerinden akıllı sözleşmeler vasıtasıyla gerçekleştirilmesidir. NFT’ler için bu durum Ethereum ERC 721 standardı ile mümkün hale gelmiştir. Her ne kadar dijitalleştirilebilen her şeyden NFT meydana getirmek mümkün olsa da bu teknoloji özellikle dijital eserler için yeni bir mecra sunmaktadır. Eserlerin yaygın bir şekilde NFT meydan getirmede kullanılması ise teknolojinin fikri mülkiyet hukuku ile kesiştiği ve hukukçular tarafından da değerlendirilmesi gereken yeni bir alan ortaya çıkarmıştır. Bu çalışma, Türk fikri haklar hukuku açısından söz konusu alana ilişkin değerlendirmeler içermektedir.
With the rapid advancement of 5G technology, the Internet of Things (IoT) has entered a new phase of application and is rapidly becoming a significant force in promoting economic development. Due to the vast amounts of data created by numerous 5G IoT devices, the Ethereum platform has become a tool for the storage and sharing of IoT device data, thanks to its open and tamper-resistant characteristics. So, Ethereum account security is necessary for the Internet of Things to grow quickly and improve people's lives. By modeling Ethereum transaction records as a transaction network, the account types are well identified by the Ethereum account classification system established based on Graph Neural Networks (GNNs). This work first investigates the Ethereum transaction network, Surprisingly, experimental metrics reveal that the Ethereum transaction network is neither optimal nor even satisfactory in terms of accurately representing transactions per account. This flaw may significantly impede the classification capability of GNNs, which is mostly governed by their attributes. This work proposes an Adaptive Multi-channel Bayesian Graph Attention Network (AMBGAT) for Ethereum account classification to address this difficulty. AMBGAT uses attention to enhance node features, estimate graph topology structure that conforms to the ground truth, and efficiently extract node features pertinent to downstream tasks. An extensive experiment with actual Ethereum transaction data demonstrates that AMBGAT obtains competitive performance in the classification of Ethereum accounts while accurately anticipating the graph's topology.
On November 22nd 2022, the lending platform AAVE v2 (on Ethereum) incurred bad debt resulting from a major liquidation event involving a single user who had borrowed close to \$40M of CRV tokens using USDC as collateral. This incident has prompted the Aave community to consider changes to its liquidation threshold, and limitations on the number of illiquid coins that can be borrowed on the platform. In this paper, we argue that the bad debt incurred by AAVE was not due to excess volatility in CRV/USDC price activity on that day, but rather a fundamental flaw in the liquidation logic which triggered a toxic liquidation spiral on the platform. We note that this flaw, which is shared by a number of major DeFi lending markets, can be easily overcome with simple changes to the incentives driving liquidations. We claim that halting all liquidations once a user's loan-to-value (LTV) ratio surpasses a certain threshold value can prevent future toxic liquidation spirals and offer substantial improvement in the bad debt that a lending market can expect to incur. Furthermore, we strongly argue that protocols should enact dynamic liquidation incentives and closing factor policies moving forward for optimal management of protocol risk.
Cryptocurrency (e.g., Ethereum and its currency Ether) presents an opportunity to completely change the way money is transacted, which perhaps even redefines the money. On this basis, this paper will investigate and discuss the basic principles and corresponding applications of Ethereum. As a matter of fact, operating on a decentralized platform while also using the global reach of the internet, transactions can be made with little cost, without interference of intermediaries and government intervention. Besides, it will keep the personal information of the user private. In addition, according to the analysis, each user can define how they use ether as they please, e.g., using Ethereum to store assets like art and reselling them through Ethereum. However, Ethereum still has many issues to fix ranging from security risks, privacy risks, and perceived stability due to Ethereum’s notorious volatility and previous illegal activities from other platforms (e.g., Bitcoin). More research is required to distinguish whether Ether can be a viable alternative that could be added to the economy or even completely replacing traditional money altogether and address the current concerns. These results shed light on guiding further exploration of cryptocurrency.
Transaction fee markets are essential components of blockchain economies, as they resolve the inherent scarcity in the number of transactions that can be added to each block. In early blockchain protocols, this scarcity was resolved through a first-price auction in which users were forced to guess appropriate bids from recent blockchain data. Ethereum's EIP-1559 fee market reform streamlines this process through the use of a base fee that is increased (or decreased) whenever a block exceeds (or fails to meet) a specified target block size. Previous work has found that the EIP-1559 mechanism may lead to a base fee process that is inherently chaotic, in which case the base fee does not converge to a fixed point even under ideal conditions. However, the impact of this chaotic behavior on the fee market's main design goal -- blocks whose long-term average size equals the target -- has not previously been explored. As our main contribution, we derive near-optimal upper and lower bounds for the time-average block size in the EIP-1559 mechanism despite its possibly chaotic evolution. Our lower bound is equal to the target utilization level whereas our upper bound is approximately 6% higher than optimal. Empirical evidence is shown in great agreement with these theoretical predictions. Specifically, the historical average was approximately 2.9% larger than the target rage under Proof-of-Work and decreased to approximately 2.0% after Ethereum's transition to Proof-of-Stake. We also find that an approximate version of EIP-1559 achieves optimality even in the absence of convergence.
Blockchains rely on P2P networks that are essential to their proper functioning, as they ensure the dissemination of transactions and blocks to all parties.While Bitcoin and Ethereum - the two main public blockchains - are now worth trillions of dollars, attracting new users every day, few studies focus on the network aspects, although the literature shows that many problems can reduce the reliability of public P2P networks.In this thesis, we first focused on the monitoring of the P2P networks of the Bitcoin and Ethereum blockchains.We implemented a crawler for each network able to discover all connected peers and analyzed data from several months of measurement campaigns.Different criteria that can affect the reliability of the network were studied, such as the number of peers, their geographical distribution, their distribution over the IP network, the churn, the proportion of clients with known vulnerabilities, the existence of daily connection patterns or the ability to infer topology. It appears that both networks show good properties on all these points.Starting from the observation that, on the one hand, the Ethereum P2P network based on a distributed hash table (DHT) is largely untapped, as no data is stored in the DHT, and on the other hand, thestorage of the blockchain data is only growing (which will eventually be problematic),we studied in a second time the data storage of the main client of Ethereum(Geth) and its way of synchronizing the state of the blockchain between the peers. We have designeda new distributed storage architecture for Ethereum taking advantage of the DHT, backward compatible with the current clients and able to reduce the disk space, used for long-term storage, by 95% (58% of the total storage) without impacting the guarantees or the performances of the Ethereum blockchain.However, storing data on the DHT makes it more prone to attacks, especially Sybil attacks.We therefore analyzed Ethereum peers for patterns that could reflect Sybil attacks and showed the existence of thousands of suspicious nodes grouping many identifiers for a single IP address (up to 10000/IP).We finally designed and implemented a protection architecture against Sybil attacks. It is based on a crawler detecting suspicious nodes in real time, a smart contract structuring the information and distributing it to all peers, and finally a fully-distributed revocation system, each peer noticing itself the attack and removing its connections.The deployment on an Ethereum test network has shown the effectiveness of the proposed architecture.
Jiaqi Wang, Ning Lu, Ziyang Gong, Wenbo Shi · 5 authors
With the arrival of the 5G era, wireless communication technologies and services are rapidly exhausting the limited spectrum resources. Spectrum auctions came into being, which can effectively utilize spectrum resources. Because of the complexity of the electronic spectrum auction network environment, the security of spectrum auction can not be guaranteed. Most scholars focus on researching the security of the single-sided auctions, while ignoring the practical scenario of a secure double spectrum auction where participants are composed of multiple sellers and buyers. Researchers begin to design the secure double spectrum auction mechanisms, in which two semi-honest agents are introduced to finish the spectrum auction rules. But these two agents may collude with each other or be bribed by buyers and sellers, which may create security risks, therefore, a secure double spectrum auction is proposed in this paper. Unlike traditional secure double spectrum auctions, the spectrum auction server with Software Guard Extensions (SGX) component is used in this paper, which is an Ethereum blockchain platform that performs spectrum auctions. A secure double spectrum protocol is also designed, using SGX technology and cryptographic tools such as Paillier cryptosystem, stealth address technology and one-time ring signatures to well protect the private information of spectrum auctions. In addition, the smart contracts provided by the Ethereum blockchain platform are executed to assist offline verification, and to verify important spectrum auction information to ensure the fairness and impartiality of spectrum auctions. Finally, security analysis and performance evaluation of our protocol are discussed.
Alexis Asseman, Tomasz Kornuta, Patel, Anirudh, Matt Deible · 5 authors
The Graph Protocol indexes historical blockchain transaction data and makes it available for querying. As the protocol is decentralized, there are many independent Indexers that index and compete with each other for serving queries to the Consumers. One dimension along which Indexers compete is pricing. In this paper, we propose a bandit-based algorithm for maximization of Indexers' revenue via Consumer budget discovery. We present the design and the considerations we had to make for a dynamic pricing algorithm being used by multiple agents simultaneously. We discuss the results achieved by our dynamic pricing bandits both in simulation and deployed into production on one of the Indexers operating on Ethereum. We have open-sourced both the simulation framework and tools we created, which other Indexers have since started to adapt into their own workflows.
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In recent years, the internet of things (IoT) growth has brought about many technological changes, including the emergence of the notion of the smart city. The development of a smart city requires the integration of IoT devices and information and communication technologies to improve the quality of lives of citizens in many areas such as health, economy, business, agriculture, and transport. However, with this evolution, many cybersecurity risks and challenges have been raised, so it is necessary to develop these technologies in a protected way to avoid being compromised by attackers. Blockchain, being a new technology based on cryptographic principles, can play an important role in securing smart cities. In this survey, we discussed different applications of blockchain technology in smart cities and also studied how blockchain features (transparency, democracy, decentralization, and security) can help in the improvement of smart city services. This analysis will help us to implement an electronic voting model using a smart contract based on the Ethereum blockchain to highlight how blockchain technology can be implemented in smart cities to promote security.
An optimistic rollup (ORU) scales a blockchain's throughput by delegating computation to an untrusted remote chain (L2), refereeing any state claim disagreements between mutually distrusting L2 operators via an interactive dispute resolution protocol. State-of-the-art ORUs employ a monolithic dispute resolution protocol that tightly couples an L1 referee with a specific L2 client binary--oblivious to the system's higher-level semantics. We argue that this approach (1) magnifies monoculture failure risk, by precluding trust-minimized and permissionless participation using operator-chosen client software; (2) leads to an unnecessarily large and difficult-to-audit TCB; and, (3) suffers from a frequently-triggered, yet opaque upgrade process--both further increasing auditing overhead, and broadening the governance attack surface. To address these concerns, we outline a methodology for designing a secure and resilient ORU with a minimal TCB, by facilitating opportunistic 1-of-N-version programming. Due to its unique challenges and opportunities, we ground this work concretely in the context of the Ethereum ecosystem--where ORUs have gained significant traction. Specifically, we design a semantically-aware proof system, natively targeting the EVM and its instruction set. We present an implementation in a new ORU, Specular, that opportunistically leverages Ethereum's existing client diversity with minimal source modification, demonstrating our approach's feasibility.
Internet of Things (IoT) is a network of smart devices that can communicate with each other without or with little human interaction. Maintaining security and trust among these millions of smart devices is a big concern because the transportation of their information generally takes place over the Internet. Limited resources available in IoT devices makes it more difficult to apply conventional security protocols. Moreover, IoT devices are generally located in such remote areas where unethical means can easily not only access them and inject false data but also completely replace them. This physical access can make other devices vulnerable to different attacks, so trust among these IoT devices is a critical factor. Trust management can be considered an important factor for a successful IoT system in which smart devices can communicate with one other without worry of security and integrity of data. Trust management is the process of identifying malicious and unwanted nodes or devices and removing them from any communication process. Key parameters of trust management in IoT systems are authentication, authorization/access control, integrity, privacy, and adaptability that depend on some direct measurable and non-measurable factors. However, despite numerous security solutions in IoT systems, there are some attacks specially designed by unethical means to manipulate the trust values in trust management systems. These attacks need to be addressed for the proper functioning of trust management systems in the IoT. Blockchain, which is mainly known for cryptocurrencies such as Bitcoin and Ethereum, has proven its effectiveness in data immutability, integrity, and decentralized ledgers and can be a perfect solution for many security and trust-related problems of the IoT. Additionally, advancement in blockchain technology can improve its applicability in securing and managing trust in the IoT. For instance, smart contracts that enable programmability in blockchain can make processing of data conditional and automated. Security features of blockchain, such as authentication, integrity, access control, etc., can be used for managing trust among IoT devices by protecting them from security attacks. Initially, blockchain was designed to be public in nature, where anyone can join and send transactions, and the same data are transparently distributed among all the participants. But in real-world scenarios, we need more control over accessing services. Permissioned blockchain such as Hyperledger Fabric, which is specially designed for business needs can provide more control over the functioning of available services. In Hyperledger Fabric, data are distributed among authorized entities only and all activities are controlled by the admin entity. For authentication, every entity in Hyperledger Fabric has a unique identity provided by some Certification Authority (CA) using X.509 protocols. It also supports smart contracts or chaincodes that provide more control over invoking transactions in its network. This chapter will introduce trust management in IoT systems with its issues and all possible trust-related security attacks on it. It will also discuss important trust parameters that need to be addressed for a successful trust management system. After it, an introduction to blockchain technology with its supported protocols will be explained in this chapter. The evolution of blockchain, its various variants, and applications will also be discussed in the book chapter. The chapter will mainly focus on Hyperledger Fabric, which is a permissioned blockchain, and will define its architecture, security features, and working mechanisms. The chapter will also explain blockchain and IoT integration issues in detail and then expose their solutions with multiple strategies such as the Inter IoT model, IoT blockchain, and the cloud-based IoT blockchain model. Finally, the chapter will describe six important trust management issues in IoT such as “Trust in Authentication,” “Trust in Identity Management,” “Trust in Integrity of Data,” “Trust in Authorization,” “Trust in Interoperabilty,” and “Trust in Privacy.” Thereafter, the chapter will expose their possible solutions using Hyperledger Fabric Blockchain. These solutions will be useful for managing trust in IoT scenarios, as well as for industrial IoT, blockchain, and IoT enthusiasts, students, Ph.D. scholars, and researchers.
Nwosu Anthony Ugochukwu, S. B. Goyal, Anand Singh Rajawat, Sardar M. N. Islam · 6 authors
Purpose: The recent development in logistics due to the dawn of Logistics 4.0 has made global logistics providers more dependent on intelligent technologies. In this era, these technologies assist in data collection and transmission of logistical data and pose many security and privacy threats in logistics management systems. The customer’s private information, which is shared among the logistics stakeholders for optimal operation, faces unauthorized access due to a lack of privacy. This, amongst others, is a critical problem that needs to be addressed with blockchain. Blockchain is a disruptive technology that is transforming different sectors, and it has the potential to provide a solution to the issues mentioned above, with its unique features such as immutability, transparency, and anonymity. Method: This study designed a blockchain-based logistics management architecture on a decentralized peer-2-peer network using Ethereum smart contracts. The proposed system deployed the Rivest–Shamir–Adleman (RSA) asymmetric encryption method to protect the logistics system from cyber-attacks and secure customers’ private information from unauthorized access. Findings: Furthermore, the security and privacy of the proposed system are evaluated based on the theorem. The proof shows that the system can provide security to the logistics system and privacy to customers’ private data. The performance evaluation is based on throughput and latency. It shows that the proposed system is better than the baseline system, and the comparatives analysis shows that the proposed system is more secure and efficient than the existing systems. Implication and Limitation: The proposed system offers a better solution to the security/privacy of the logistics management system and provides recommendations to key stakeholders involved in the logistics industry while adopting blockchain technology. Apart from the study’s methodological limitation, it is also limited by a lack of reference materials.
Sen Yang, Fan Zhang, Ken Huang, Xi Chen · 6 authors
Blockchains offer strong security guarantees, but they cannot protect the ordering of transactions. Powerful players, such as miners, sequencers, and sophisticated bots, can reap significant profits by selectively including, excluding, or re-ordering user transactions. Such profits are called Miner/Maximal Extractable Value or MEV. MEV bears profound implications for blockchain security and decentralization. While numerous countermeasures have been proposed, there is no agreement on the best solution. Moreover, solutions developed in academic literature differ quite drastically from what is widely adopted by practitioners. For these reasons, this paper systematizes the knowledge of the theory and practice of MEV countermeasures. The contribution is twofold. First, we present a comprehensive taxonomy of 30 proposed MEV countermeasures, covering four different technical directions. Secondly, we empirically studied the most popular MEV-auction-based solution with rich blockchain and mempool data. We also present the Mempool Guru system, a public service system that collects, persists, and analyzes the Ethereum mempool data for research. In addition to gaining insights into MEV auction platforms' real-world operations, our study shed light on the prevalent censorship by MEV auction platforms as a result of the recent OFAC sanction, and its implication on blockchain properties.
Yustus Eko Oktian, Thi-Thu-Huong Le, Uk Jo, Howon Kim
With the limited Internet bandwidth in a given area, unlimited data plans can create congestion because there is no retribution for transmitting many packets. The real-time pricing mechanism can inform users of their Internet consumption to limit congestion during peak hours. However, implementing real-time pricing is opex-heavy from the network provider side and requires high-integrity operations to gain consumer trust. This paper aims to leverage the software-defined network to solve the opex issues and blockchain technology to solve trust issues. First, the network congestion level in a given area is analyzed. Then, the price is adjusted accordingly. Devices that send a lot of traffic during congestion will be charged more expensive bills than if transmitting traffic during an off-peak period. To prevent over-charging, the consumers can pre-configure a customized Internet profile stating how many data bytes they are willing to send during congestion. The software-defined controller also authenticates consumers and checks whether they have enough token deposits in the blockchain as Internet usage fees. We implement our work using Ethereum and POX controllers. The experiment results show that the proposed real-time pricing can be performed seamlessly, and the network provider can reap up to 72.91% more profits than existing approaches, such as usage-based pricing or time-dependent pricing. The fairness and trustability of real-time pricing is also guaranteed through the proof-of-usage mechanism and the transparency of the blockchain.