Abstract The paper considers the problem of distributed decision making in the robot swarm. The enhancement technique of the related study approach is proposed using the data transmission distance constraints and the weighted voting strategy. The decision making process is organized by means of distributed ledger usage. The information propagation through the swarm is implemented via spreading randomized rumor. The avoidance of routing in the swarm improves the overall energy efficiency of the system. The weighted voting transactions take into account the positions of the robots relating to the unknown objects or obstacles, as well as the voting history, which is stored in a distributed ledger
Block-chain is rapidly evolving. There are continuous enhancements. In order to validate transactions algorithm is used. The traditional approach of Proof of Work (POW) is where miners are incentivized to compete with each other to complete transactions. Alternate system is proof of stake (POS) where in the validators lock up some of their tokens and thus replace the role of miners. Generation three block chain, which are the latest and fastest ones are mostly Proof of Stake (POS). Hence the POW systems seek to leverage the POS properties in order to attain higher speed and scalability. The paper discusses the approach with Ethereum has taken to migrate from the current POW protocol to POS protocol. The concept of Caster is focused as implementation. Casper further has two subtypes of approaches know as Friendly Finality Gadget (FFG) and Correct by Construction (CBC). The paper discusses on safety guard over these algorithms.
The spread of distributed ledger technology (DLT) in finance could help to improve the efficiency and quality of supervision. This paper makes the case for embedded supervision, i.e., a regulatory framework that provides for compliance in tokenised markets to be automatically monitored by reading the market's ledger, thus reducing the need for firms to actively collect, verify and deliver data. After sketching out a design for such schemes, the paper explores the conditions under which distributed ledger data might be used to monitor compliance. To this end, a decentralised market is modelled that replaces today's intermediary-based verification of legal data with blockchain-enabled data credibility based on economic consensus. The key results set out the conditions under which the market's economic consensus would be strong enough to guarantee that transactions are economically final, so that supervisors can trust the distributed ledger's data. The paper concludes with a discussion of the legislative and operational requirements that would promote low-cost supervision and a level playing field for small and large firms.
Ence Zhou, Haoli Sun, Bingfeng Pi, Jun Sun · 6 authors
Blockchain is one of the most popular distributed ledger technologies. It can solve the trust issue among enterprises. Hyperledger Fabric is a permissioned blockchain aiming at enterprise-grade business applications. However, compared to traditional distributed database solutions, one issue of blockchain based application development is the limited data access. For Fabric, the ledger data can only be retrieved by limited interfaces provided by Fabric SDKs or chaincode. In order to meet the requirements of data query and provide flexible query functions for real applications built on Fabric, this paper proposed a ledger data query platform called Ledgerdata Refiner. With ledger data analysis middleware, we provide sufficient interfaces for users to retrieve block or transaction efficiently. It is also able to track historical operations for any specific state. In addition, schemas of ledger state have been analyzed and clustered, which enable users to perform rich queries against ledger data. Finally, we validate the effectiveness of our query platform on a real application.
We have created a demonstration permissioned Distributed Ledger Technology (DLT) datastore for the UF 6 cylinder tracking safeguards use-case utilizing the Ethereum DLT framework and using Solidity for smart contract code. Our demonstration creates a simulated dataset representing tracking of 75,000 UF 6 cylinders across 11 example nuclear facilities worldwide. Our DLT system allows for easy input and reading of shipping and receiving data, including a Graphical User Interface (GUI). Sandia’s Emulytics capability was leveraged to help create the DLT node network and assess performance. We find that our DLT prototype can easily handle to ~150,000 UF 6 cylinder shipments per year worldwide, without any excessive computational or storage burden on the IAEA or Member States. Next steps could include a demonstration to the IAEA and potentially demonstrating integration with TradeLens, a DLT in use by a consortium of international shipping companies representing over half of world shipping trade.
William Zhang, Sebastian Banescu, Leonardo Pasos, Steven Stewart · 5 authors
Smart contracts are executable programs that enable the building of a programmable trust mechanism between multiple entities without the need of a trusted third-party. At the time of this writing, there were over 10 million smart contracts deployed on the Ethereum networks and this number continues to grow at a rapid pace. Smart contracts are often written in a Turing-complete programming language called Solidity, which is not easy to audit for subtle errors. Further, since smart contracts are immutable, errors have led to attacks resulting in losses of cryptocurrency worth 100s of millions of USD and reputational damage. Unfortunately, manual security analyses do not scale with size and number of smart contracts. Automated and scalable mechanisms are essential if smart contracts are to gain mainstream acceptance. Researchers have developed several security scanners in the past couple of years. However, many of these analyzer either do not scale well, or if they do, produce many false positives. This issue is exacerbated when bugs are triggered only after a series of interactions with the functions of the contract-under-test. A depth-n vulnerability, refers to a vulnerability that requires invoking a specific sequence of n functions to trigger. Depth-n vulnerabilities are time-consuming to detect by existing automated analyzers, because of the combinatorial explosion of sequences of functions that could be executed on smart contracts. In this paper, we present a technique to analyze depth-n vulnerabilities in an efficient and scalable way by combining symbolic execution and data dependency analysis. A significant advantage of combining symbolic with static analysis is that it scales much better than symbolic alone and does not have the problem of false positive that static analysis tools typically have. We have implemented our technique in a tool called MPro, a scalable and automated smart contract analyzer based on the existing symbolic analysis tool Mythril-Classic and the static analysis tool Slither. We analyzed 100 randomly chosen smart contracts on MPro and our evaluation shows that MPro is about n-times faster than Mythril-Classic for detecting depth-n vulnerabilities, while preserving all the detection capabilities of Mythril-Classic.
The term “smart contracts” has become ubiquitous to describe an enormous number of programs uploaded to the popular Ethereum blockchain system. Despite rapid growth of the smart contract ecosystem, errors and exploitations have been constantly reported from online contract systems, which has put financial stability at risk with losses totaling millions of US dollars. Most existing research focuses on pinpointing specific types of vulnerabilities using known patterns. However, due to the lack of awareness of the inherent nondeterminism in the Ethereum blockchain system and how it affects the funds transfer of smart contracts, there can be unknown vulnerabilities that may be exploited by attackers to access numerous online smart contracts. \n \nIn this paper, we introduce a methodical approach to understanding the inherent nondeterminism in the Ethereum blockchain system and its (unwanted) influence on contract payments. We show that our new focus on nondeterminism-related smart contract payment bugs captures the root causes of many common vulnerabilities without relying on any known patterns and also encompasses recently disclosed issues that are not handled by existing research. To do so, we introduce techniques to systematically model components in the contract execution context and to expose various nondeterministic factors that are not yet fully understood. We further study how these nondeterministic factors impact contract funds transfer using information flow tracking. The technical challenge of detecting nondeterministic payments lies in discovering the contract global variables subtly affected by read-write hazards because of unpredictable transaction scheduling and external callee behavior. We show how to augment and instrument a contract program into a representation that simulates the execution of a large subset of the contract behavior. The instrumented code is then analyzed to flag nondeterministic global variables using off-the-shelf model checkers. \n \nWe implement the proposed techniques as a practical tool named NPChecker (Nondeterministic Payment Checker) and evaluate it on 30K online contracts (3,075 distinct) collected from the Ethereum mainnet. NPChecker has successfully detected nondeterministic payments in 1,111 online contracts with reasonable cost. Further investigation reports high precision of NPChecker (only four false positives in a manual study of 50 contracts). We also show that NPChecker unveils contracts vulnerable to recently-disclosed attack vectors. NPChecker can identify all six new vulnerabilities or variants of common smart contract vulnerabilities that are missed by existing research relying on a “contract vulnerability checklist.”
Marian Stoica, Bogdan Ghilic-Micu, Marinela Mircea
Social sciences literature claims that humanity is traversing a development stage generically called knowledge based informational society. It also anticipates another development horizon characterized by the explosion of artificial intelligence, corroborated with ever more spectacular development of information and communication technology. If we associate it with one of the most recent technologies dedicated mainly to information securityblockchain technology, we can certainly talk about a rebooting of informational society. Being itself a revolution, we will argue in this paper the level of influence blockchain has on business architectures, financial services, anti-plagiarism solutions, real estate transactions, economy, society, electoral processes and democracy as a whole. The ecosystem that supports all these transformations, developed and embedded in the global internet is IOT -Internet of Things.
In the modernized world like digital world, traditional way of payments through banks and other third parties are out of sphere. To meet the digital competency digital token like bitcoin based crypto currency payment is required. Lots of business persons are moving towards the digital way of secure payment. Intruders like hackers hamper the digital token and make immortality in the transaction which in turn create the double spend. Double spend is a serious threat in the Bitcoin network. Our research work focuses on double spend detection of transaction before it gets confirmed and added to the block by the miners. The proposed new architecture for detecting double spend using Dual Payout based on Lost Agreement Amount (DPL2A) will identify one of the ways that double spend attack occur before it is added to the blockchain. This architecture gives the clear identification of double spend attack and their full details of transaction occurrence so that when it is broadcasted into the peer-to-peer network, the network nodes will use this architecture to detect double spend, its occurrence is fully prevented and only the genuine transaction will be added to the blockchain.
Blockchain is one of the most splendid technologies in today's industrial sector which is going to disrupt various sectors and the way the process, product and services have been done today. Both government, corporate and institutions started exploring the opportunities in blockchain technology which paves a fresh route for beneficial growth and development in this industry. The strategy taken by Indian Government on the development and application of Blockchain started with the ‘Indiachain’ – colossal blockchain pilot project of NITI Aayog through which government is going to use blockchain for land records, identity management, supply chain management, benefit distribution, power distribution, educational certificates, and cross border finance. It will help all stakeholders enormously in terms of enforcing contracts quickly and prevent fraud and efficient disbursement of subsidies. Further through regulatory sandbox it will test the work possibilities and facilities in blockchain through pilot project. New kind of business model and process will be implemented with the use of blockchain technology. This paper reviews the concept of Blockchain and analyse the available and prospective Blockchain technology use cases and its application at global level, technology providers and stakeholders. This paper covers the adoption policy framework of India, current development and application of Blockchain technology in various sectors of business in India and highlights the changing business model for its adoption.
The increasing digitization of financial services by the late 2010s resulted in the generation of massive volumes of transactional data across payment systems, trading platforms, digital banking applications, and regulatory reporting pipelines. These transaction logs, originally designed for auditing, reconciliation, and failure recovery, gradually emerged as a valuable source of behavioral and operational insight. However, the scale, velocity, and structural heterogeneity of transactional logs posed significant challenges to traditional analytical techniques, which were often optimized for static datasets or narrowly defined reporting use cases. As a result, organizations began exploring systematic approaches to mine patterns from transaction logs in order to better understand system behavior, detect anomalies, and improve decision-making. Pattern mining from transaction logs refers to the process of discovering recurring structures, sequences, correlations, and deviations within recorded transactional events. By September 2019, this practice was informed by a combination of data mining research, distributed systems logging techniques, and operational analytics developed in large-scale production environments. Unlike conventional business intelligence queries, pattern mining emphasizes the identification of latent relationships and temporal structures that are not explicitly encoded in application logic. These patterns may reflect normal operational workflows, emergent system behaviors, or early indicators of faults, fraud, or performance degradation. In financial systems, transaction logs capture more than simple state changes; they encode regulatory-relevant actions such as authorization decisions, settlement progressions, risk evaluations, and ledger mutations. Mining patterns from these logs enables institutions to analyze end-to-end transaction lifecycles, correlate technical events with business outcomes, and identify systemic inefficiencies or vulnerabilities. Importantly, such analysis must operate within strict constraints related to data privacy, auditability, and regulatory compliance, distinguishing transaction log mining in financial domains from analogous practices in less regulated environments. This paper examines pattern mining from transaction logs as understood and applied by September 2019, situating it within the broader evolution of logging, distributed systems observability, and data mining research. It synthesizes academic literature and industry practices to propose a conceptual and architectural framework for extracting meaningful patterns from transactional data at scale. The analysis focuses on methodological considerations, architectural layering, and practical challenges encountered in regulated, high-throughput systems, while avoiding retrospective interpretations based on post-2019 technologies or techniques.
Dilek Akdoğan Akbaş, Gamze Yıldız Şeren, Osman Geyik
Last revolution of industry history is known as “Industry 4.0” or also known as 4th Industrial Revolution that<br> forms the basis of increasing technology network has emerged as digital technology-based digital revolution. Digitalisation<br> in 4th Industrial Revolution reflected to currency and cryptocurrencies has become a part of today’s<br> world. Blockchain technology as the basis of virtual currency is one of the leading technologies under 4th Industrial<br> Revolution and gradually increases impact range. Bitcoin as a cryptocurrency that introduced blockchain technology<br> to the world can be characterised as the most important financial technology (fintech) innovation of digital<br> age. Income from bitcoin as cryptocurrency are at significant level and risks of using bitcoin in money laundering<br> and financing illegal activities have led countries to apply regulations for cryptocurrencies. This study aims to<br> analyse regulations for cryptocurrencies that gradually increases market cap under 4th Industrial Revolution process.
Virtual Currencies and cryptocurrency are a trending digital currency method which uses the Blockchain technology. Cryptocurrency is a digital method designed to exchange the asset between the users based on a powerful cryptography which ensures the transaction are safe and controllable. We have various legal areas identified while using the cryptocurrency, as being the virtual currency, the amount of assets used by the users increases rapidly. With the increase in the asset the security breaches are one of the key vulnerable areas to focus. Cryptocurrency mining malware or Cryptojacking remains a trending terminology which identifies the malicious software or malware developed to use the data from the smart phones and computers. The major threat of the Cryptojacking is cryptocurrency mining without user’s approval. This article implemented based on our CCEC Framework method published for Malware detection in SMS’s for the Smartphone users. The article explains about how the Malware detected using the CCEC Framework. Malwares created in various format so identifying the Malware takes time before which user assets remains vulnerable. So, the proposed method ensures we have a reduction in time by using various online data sources to identify the Cryptojacking malware.
Taking into account the growing influence of technology across many industries, this paper demonstrates the implications of the use of blockchain by the fashion industry for protecting intellectual property. In the face of a lack of global regulations on the issue, this paper attempts to outline legal considerations of using blockchain in this new context. The analytical research was based on the European Parliament Resolution on Distributed Ledger Technologies and Blockchains as well as the American, Belarusian, Maltese and Gibraltar laws regulating blockchain. An outline of the blockchain technology leads into a description of how the blockchain technology may be beneficial in different sectors of the economy. This paper aims to present ways in which blockchain may influence intellectual property law and how it may be applied in the fashion industry. Additionally, by pointing out the risks associated with blockchain, this paper highlights the need for implementing international regulations regarding this technology.Technologia blockchain i jej znaczenie dla prawa własności intelektualnej w branży modyBiorąc pod uwagę rosnący wpływ technologii w wielu gałęziach przemysłu, autorka niniejszego opracowania przedstawia w nim konsekwencje wykorzystania technologii blockchain łańcucha bloków przez branżę mody w celu ochrony własności intelektualnej. W obliczu braku światowych regulacji w tym zakresie w artykule podjęto próbę nakreślenia prawnych aspektów wykorzystania technologii blockchain. Badania analityczne zostały przeprowadzone na podstawie Rezolucji Parlamentu Europejskiego w sprawie technologii rozproszonego rejestru i łańcuchów bloków oraz amerykańskich, białoruskich, maltańskich i gibraltarskich przepisów regulujących technologię blockchain. Omówienie zarysu działania technologii blockchain prowadzi do wskazania, w jaki sposób technologia ta może być przydatna w różnych sektorach gospodarki. Celem artykułu jest przedstawienie, w jaki sposób technologia blockchain może wpływać na prawo własności intelektualnej oraz jak może być stosowana w przemyśle mody. Ponadto, zwracając uwagę na zagrożenia związane z technologią blockchain, w tekście podkroślono potrzebę wprowadzenia międzynarodowych regulacji dotyczących tej technologii.
The article investigates by etymological and legal analysis the origin of the institution of obligations and risk management, for centuries in the process of formation of Russian law.
Nowadays Bitcoin as cryptocurrency takes a significant place on the global financial markets. This paper analyzes the Bitcoin closing prices and traded volume during the period from December 28, 2013 to January 22, 2019. This period is known as a period with rapid increasing of the Bitcoin closing prices, mainly in the second half of the year 2017. The aim of this paper is twofold. First, we compute the Hurst coefficient to discover the close price dynamics and traded volume using a fractal point of view. We have discovered an anti-persistent behavior in the traded volume and random character of bitcoin closing prices. Second, we propose an analysis of the relationship between the close prices and traded volume. Our findings show how changes in the high-price period differ from changes in the low-price period. We also found that high prices caused investors to be afraid to trade due to possible rapid decrease in bitcoin closing prices.
Mohd Faiz Mohd Yaakob, Mohd Aliff Mohd Nawi, Raja Rizal Iskandar Raja Hisham
Abstract 
 Today's world is recording the rapid development digital transaction. Bitcoin has become one of the phenomena for online transactions. There are risks that come along with this phenomenon. In addition, this phenomenon has also implicated the transactions conducted by individuals and Muslim communities around the world. In fact, there is a view that permits the use of this transaction to pay zakat with special conditions. The objective of this study is to explore the risk of using Bitcoin; and to explore the zakat institution's readiness to accept the Bitcoin transaction. Methodology of this study using a qualitative study with document’s analysis design. The findings showed that there are five main components in the zakat instituions readiness in Bitocin acceptance such as Education; Investment and Economics; Technology; Safety and Continuous Improvement.
 Abstrak 
 Dunia masa kini mencatatkan perkembangan transaksi digital yang begitu pantas. Bitcoin telah menjadi salah satu fenomena kepada perkembangan urus niaga transaksi dalam talian. Terdapat risiko-risiko yang datang bersama dengan fenomena ini. Selain itu, fenomena ini juga telah memberikan implikasi kepada urus niaga yang dijalankan oleh individu dan masyarakat muslim di serata dunia. Malah, terdapat pandangan yang mengharuskan penggunaan transaksi ini untuk membayar zakat dengan ditetapkan syarat khusus. Objektif kajian ini bertujuan meneroka risiko penggunaan Bitcoin; dan meneroka kesediaan institusi zakat dalam penerimaan transaksi Bitcoin. Metodologi kajian ini menggunakana kajian kualitatif dengan reka bentuk analisis dokumen. Dapatan mendapati terdapat lima komponen utama dalam kesediaan intitusi zakat seperti Pendidikan; Ekonomi dan Pelaburan; Teknologi; Keselamatan dan Penambahbaikan Berterusan.
Bitcoin can be exchanged for other cryptocurrencies as well as for fiat currencies on many different platforms. Nevertheless, its real convertibility may be limited by market liquidity. The main aim of this article is to characterize and compare big and small bitcoin markets in terms of liquidity. I examine four platforms with high trade volume: Kraken, Bitstamp, BitFlyer and BTCBOX, as well as small entities which enable bitcoin to be traded in Polish zloty: BitBay and BitMarket. I compare the number of trades and the time between trades on selected bitcoin markets, determine the volume distribution throughout the day and analyse the dynamics of Amihud’s illiquidity measure – ILLIQ. I find that an exchange which is among the global leaders in terms of trading bitcoin in a particular traditional currency can be considered a smaller market in terms of trade volume in another traditional currency. Moreover, the results imply that BitBay and BitMarket can be perceived as local markets. They are mainly used for trading in Polish zloty, and are illiquid in terms of trading in the remaining traditional currencies. Home bias, the fact that they offer a possibility of trading in a less popular currency (in comparison to the world reserve currencies), and that have their interface in Polish, may give these platforms a competitive advantage.
Evidence and witness play an important role to investigate crime and lawful jurisdiction in any case. But often, the victims do not get justice due to the middlemen and the altered evidences in the centralized network. Block chain is an ideal solution to ensure transparency till the highest hierarchy of jurisdiction using a decentralized peer to peer network to store data which is immutable. It is like a distributed ledger working on the proof of work algorithm that validates each amendment and modification made in a particular chain. Evichain inculcates the transparency and security of the same decentralized network in the crime investigation process. It is an application on which the entire data regarding any particular investigation is stored in a block chain with limited people having access rights. It also includes cases filed by the victims themselves. Every amendment made in the block chain is validated. Also the data access is restricted to the users with that specific private key.
Crowdfunding has revolutionized the way of raising funds for not only start-ups but for all traditional or existing businesses. Crowdfunding made it easy for fundraisers to raise funds as they don’t have to knock on doors of banks and financers and get the desired amount in return of interest or offering equity or even through donation, or reward. Blockchain, on the hand, is decentralizing the system of records and control which makes crowdfunding more transparent and secure. Though a number of blockchain-based crowdfunding platforms are already doing good business and they vary in crypto, model and type of crowdfunding. The study is conducted on a very new blockchain-based crowdfunding platform, WHIRL. The unique and different in this model is the model, “pay-it-forward” itself. The model assures that members will get their legit project funded after they help other projects succeed. The study also highlights some thoughts from the Executive Board of Directors and co-founders after doing a brief discussion with them.
This study aims to measure the local government financial performance of West Borneo Province for fiscal year 2013-2017 by using financial ratios analysis. The financial ratios used include: (1) Ratio of Local Financial Independence, (2) Degree of Fiscal Decentralization Ratio, (3) Effectiveness Ratio, (4) Efficiency Ratio, (5) Ratio of Harmony, and (6) Growth Ratio. The type of research used is descriptive research with a case study approach. The data used in this study is secondary data obtained from the Regional Finance and Revenue Management Agency of West Borneo Province. Based on the results of calculations and analysis of local financial performance, it can be concluded, that the pattern of the relationship between the level of regional independence of West Kalimantan Borneo is on “participatory” criteria. The degree of fiscal decentralization of the Government of West Borneo Province is in the category of “enough”. The level of effectiveness is included in the “effective” category while the efficiency level is included in the “less efficient” category. Ratio of Harmony shows the balance of expenditure are not balanced and the Growth Ratio which is still fluctuating.
Os smarts contracts são, em termos bastante gerais, protocolos informáticos que permitem que um dispositivo execute as prestações de um contrato de forma autônoma, logo, sem a necessidade de intervenção humana. A substituição da ação humana por um processo – conjunto de protocolos – que viabiliza (a) a automação de operações, (b) a materialização automática das prestações nas transações e (c) a utilização de outras tecnologias, as quais permitem a verificação do clausulado e da identidade dos sujeitos vinculados à transação resulta em elevada economia de custos. Ademais, as expectativas das partes para a satisfação de seus interesses negociais, tal como estabelecido no contrato, acabam sendo amplamente protegidas. Rapidez, previsibilidade e automação permeiam o exercício da autonomia privada, facilitando a efetiva autotutela. Não obstante os evidentes benefícios, tal figura apresenta limitações e desvantagens, trazendo consigo possíveis problemas. Este trabalho explora brevemente o fenômeno dos smart contracts, reflete sobre seu ecossistema particular e, a seguir, aborda importantes questões jurídicas que acompanham os smart contracts.
The red-hot crypto currency is a bitcoin which occupies first position in the capital investment of financial world which is assaulted by various factors like wallet attacks, network attacks, mining attacks and double spending attacks. Double spending is the major attack in which the attacker tries to cheat the network nodes and use the same coin for more than one set of transactions. Of this the original transaction identification from the set of transactions is a challenging one. In this paper we propose a solution for identifying the primary transaction from the set of double spended or multi spended transactions. The proposed approach finds the authentic transaction from the list of double spended transactions using transaction hash value, which is primarily used for every transaction in the Bitcoin network. Transaction hash value is used as transaction identifier for each bitcoin transaction. By comparing the transaction hash value with the existing pool of unconfirmed input pool, transhash pool and utxopool one can identify the genuine transaction from the flawed transaction list. The firsthand transaction is then added to the Confirmed input pool which is then entered into the newly added block of the blockchain. This architecture will prevent the double spend of bitcoin further in the network which facilitates the network nodes as well as minimize the miners task for verification and validation of transaction.