Internet of Things is a recent potential advancement in an IT arena, consists of multiple smart things (devices) which are connected through a physical network. Cisco incorporation predicts that IoT network will connect 50 billion devices by 2020. Most of the industries are adopting IoT technology and because of its fast spreading, immense adoption and deployment current authentication mechanisms have serious disadvantages. For numerous reasons the security issues are the major hurdle in adoption and deployment of IoT on a large scale since it is highly vulnerable to attacks. In this paper we propose a Blockchain based authentication mechanism i.e. Ethereum which is a public blockchain as it has emerged as a technology that possess great capabilities of providing secure authentication, management and access control for IoT devices in a decentralized, trusty and flexible manner by creating a secure environment where the devices can identify and trust each other and only authenticated users are given permission to access them.
There are significant data privacy implications associated with Electronic Health Records (EHRs) sharing among various untrusted healthcare entities. Recently, a blockchain-based EHRs sharing system has provided many benefits. Decentralization, anonymity, unforgeability, and verifiability are all unique properties of blockchain technology. In this paper, we propose a secure, blockchain-based EHR sharing system. After receiving the data ownerâs authorization, the data requester can use the data providerâs keyword search to discover relevant EHRs on the EHR consortium blockchain and obtain the re-encryption ciphertext from the proxy server. To attain privacy, access control and data security, the proposed technique uses asymmetric searchable encryption and conditional proxy re-encryption. Likewise, proof of permission serves in consortium blockchains as the consensus method to ensure the systemâs availability. The proposed protocol can achieve the specified security goals, according to the security analysis. In addition, we simulate basic cryptography and put the developed protocol into practice on the Ethereum platform. The analysis results suggest that the developed protocol is computationally efficient.
As an emerging distributed technology, blockchain has begun to penetrate into many fields such as finance, healthcare, supply chain, intelligent transportation. However, the interoperability and value exchange between different independent blockchain systems is restricting the expansion of blockchain. In this paper, a notary group-based cross-chain interaction model is proposed to achieve the interoperability between different blockchains. Firstly, a notary election mechanism is proposed to choose one notary from the notary group to act as a bridge for cross-chain transactions. Secondly, a margin pool is introduced to limit the misconduct of the elected notary and ensure the value transfer between the involved blockchains. Moreover, a reputation based incentive mechanism is used to encourage members of the notary group to participate in cross-chain transactions. Ethereum-based experiments demonstrate that the proposed mechanism can provide an acceptable performance for cross-chain transactions and provide a higher security level than ordinary cross-chain mechanisms.
Lina AlâSahan, Noureddine Lasla, Mohamed Abdallah, Bo Wang
Abstract The licensed band is crowded and suffers from immense mobile data traffic growth, which exceeded 58 exabytes per month in 5 years. Meanwhile, a significant portion of the unlicensed band is underutilized and not coordinated efficiently. Experiments in some urban areas of the world have shown that only 5% of the unlicensed 5 GHz band is being used. 5G NRâU technology supports 5G networks in the unlicensed band to alleviate the traffic congestion and boosts 5G networks capacity. Different heterogeneous network access technologies already use the unlicensed band. Consequently, 5G NRâU networks will operate in the proximity of the other coexisting networks, such as WiFi networks in the 5 GHz and 6 GHz bands. In such environments, assessing the shared spectrum becomes challenging and necessitates adequate protocols to identify idle slots for successful transmissions. Cooperative Spectrum Sensing (CSS) improves the spectrum assessment process, as the decision about the spectrum state is rendered based on the local decisions of multiple sensing nodes. CSS is exploited by integrating it with Blockchain technology to design a decentralized cooperative spectrum management system called: BlockchainâBased Cooperative Spectrum Management (BCSM). The system is attributed to ameliorating 5G NRâU awareness about the neighboring WiFi networks traffic in the unlicensed band. An algorithm is designed for performing distributed cooperative spectrum assessment between the 5G NRâU base stations to profile the WiFi networks traffic in their proximity. To ensure fairness based on the effort expended in assessing the spectrum, a priorityâbased algorithm is designed for spectrum access scheduling. A proofâofâconcept is implemented using private Ethereum Blockchain and NS3 simulator. Finally, the system's accuracy is evaluated empirically along with theoretical security analysis.
Despite numerous prior attempts to boost transaction per second (TPS) of blockchain systems, many sacrifice decentralization and security. This paper proposes a bodyless block propagation (BBP) scheme for which the blockbody is not validated and transmitted during block propagation, to increase TPS without compromising security. Nodes in the blockchain network anticipate the transactions and their ordering in the next upcoming block so that these transactions can be pre-executed and pre-validated before the block is born. For a network with $N$ nodes, our theoretical analysis reveals that BBP can improve TPS scalability from $O(1/log(N))$ to $O(1)$. Ensuring consensus on the next block's transaction content is crucial. We propose a transaction selection, ordering, and synchronization algorithm to drive this consensus. To address the undetermined Coinbase address issue, we further present an algorithm for such unresolvable transactions, ensuring a consistent and TPS-efficient scheme. With BBP, most transactions require neither validation nor transmission during block propagation, liberating system from transaction-block dependencies and rendering TPS scalable. Both theoretical analysis and experiments underscore BBP's potential for full TPS scalability. Experimental results reveal a 4x reduction in block propagation time compared to Ethereum blockchain, with TPS performance being limited by node hardware rather than block propagation.
Leonardo Kanashiro Felizardo, Francisco Caio Lima Paiva, Catharine de Vita Graves, Ălia Yathie Matsumoto ¡ 7 authors
The interdisciplinary relationship between machine learning and financial markets has long been a theme of great interest among both research communities. Recently, reinforcement learning and deep learning methods gained prominence in the active asset trading task, aiming to achieve outstanding performances compared with classical benchmarks, such as the Buy and Hold strategy. This paper explores both the supervised learning and reinforcement learning approaches applied to active asset trading, drawing attention to the benefits of both approaches. This work extends the comparison between the supervised approach and reinforcement learning by using state-of-the-art strategies with both techniques. We propose adopting the ResNet architecture, one of the best deep learning approaches for time series classification, into the ResNet-LSTM actor (RSLSTM-A). We compare RSLSTM-A against classical and recent reinforcement learning techniques, such as recurrent reinforcement learning, deep Q-network, and advantage actorâcritic. We simulated a currency exchange market environment with the price time series of the Bitcoin, Litecoin, Ethereum, Monero, Nxt, and Dash cryptocurrencies to run our tests. We show that our approach achieves better overall performance, confirming that supervised learning can outperform reinforcement learning for trading. We also present a graphic representation of the features extracted from the ResNet neural network to identify which type of characteristics each residual block generates.
Xi Zhao, Peilin Ai, Fujun Lai, Xin Luo ¡ 5 authors
Abstract In the emerging platform economy, blockchain technologies are reshaping the digital economy. Moreover, disintermediation and decentralization have broken new ground for platform organizations and management mechanisms and instigated the concept of a DAO ( Decentralized Autonomous Organization ). Recent literature on operations management has called for further research on governance issues related to DAOs. In response to this call, we explore the relationship between DAO management efforts and platform performance in this study. Specifically, we propose and theoretically articulate decentralized voting tasks in DAOs as a new form of organizing. Harnessing both online and onâchain data from seven sources, we empirically examine how voting task division, task allocation, reward distribution, and information provision affect platform performance in the context of MakerDAO (an Ethereumâbased stablecoin issuance platform). Our findings reveal that strategic decisions arrived at through voting have a positive impact on platform operational performance under certain conditions, whereas operational decisions resulting from voting have a negative impact. Moreover, we elucidate the moderating effects of voting task execution characteristics on the relationship between completed decision tasks and operational performance. These findings have important implications from both theoretical and practical perspectives. We also share all the raw data we use to promote the development of blockchainârelated empirical research.
While blockchain technology triggers new industrial and technological revolutions, it also brings new challenges. Recently, a large number of new scams with a "blockchain" sock-puppet continue to emerge, such as Ponzi schemes, money laundering, etc., seriously threatening financial security. Existing fraud detection methods in blockchain mainly concentrate on manual feature and graph analytics, which first construct a homogeneous transaction graph using partial blockchain data and then use graph analytics to detect anomaly, resulting in a loss of pattern information. In this paper, we mainly focus on Ponzi scheme detection and propose HFAug, a generic Heterogeneous Feature Augmentation module that can capture the heterogeneous information associated with account behavior patterns and can be combined with existing Ponzi detection methods. HFAug learns the metapath-based behavior characteristics in an auxiliary heterogeneous interaction graph, and aggregates the heterogeneous features to corresponding account nodes in the homogeneous one where the Ponzi detection methods are performed. Comprehensive experimental results demonstrate that our HFAug can help existing Ponzi detection methods achieve significant performance improvement on Ethereum datasets, suggesting the effectiveness of heterogeneous information on detecting Ponzi schemes.
Samuel Kwaku Agyei, Anokye M. Adam, Ahmed Bossman, Oliver Asiamah ¡ 7 authors
We present a multi-scale and time-frequency analysis of the degree of integration and the lead-lag relationship between six cryptocurrencies (i.e., Bitcoin, Bitcoincash, Ethereum, Litecoin, Ripple, and Tether) and the cryptocurrency-implied volatility index (VCRIX). As a result, the wavelet techniquesâbi-wavelet, partial wavelet, bivariate contemporary correlations (BCC), wavelet multiple correlations (WMC) and wavelet multiple cross-correlations (WMCC) are applied. Findings from the study provide that the interdependencies between the cryptocurrencies and VCRIX are high and mostly positive across investment horizons. Furthermore, the comovements between the cryptocurrencies designate long memory dynamics. The high comovements between cryptocurrencies are highly influenced by idiosyncratic shocks they possess rather than the VCRIX. In addition, the BCC and the WMC indicate that there is a high integration among all the cryptocurrencies. Categorically, the VCRIX could not lead or lag the interdependencies among the cryptocurrencies in the WMCC analysis. Findings from the study, therefore, divulge that investing in a single or few cryptocurrencies is highly risky due to the adverse impact of the VCRIX on individual cryptocurrencies. In general, investors should effectively hedge against volatilities in the cryptocurrency markets due to the significant predictive ability of VCRIX as an effective proxy.
Shenhui Zhang, Ming Tang, Xiulai Li, Boyi Liu ¡ 8 authors
Robot Operating System (ROS) has received widespread utilization with the development of robotics, self-driving, etc., recently. Meanwhile, the other technology blockchain is frequently applied to various fields with its trustworthy characteristics and immutability in data storage. However, ROS has no ability to interact with the blockchain, which hinders research in related fields. Therefore, we wonder if we can develop a convenient tool to bridge ROS and blockchain. Inspired by this, we propose ROS-Ethereum. It bridges ROS and Ethereum, a widely used blockchain platform. ROS-Ethereum is based on the User Datagram Protocol (UDP) communication mechanism and the SM algorithm family along with Ethereum technology. Simply put, ROS-Ethereum allows users to invoke the contract when interacting with the blockchain, which makes this process easier and safer. We conduct experiments in real robots to verify the effectiveness of ROS-Ethereum and evaluate it from the following metrics: (1) the encryption efficiency and stability of the algorithm and (2) ROS-Ethereum transaction response time and packet loss rate.
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The lack of data outsourcing in healthcare management systems slows down the intercommunication and information sharing between different entities. A standard solution is outsourcing the electronic health record (EHR) to a cloud service provider (CSP). The outsourcing of the EHR should be performed securely without compromising the CSP functionalities. Searchable encryption would be a viable approach to ensure the confidentiality of the data without compromising searchability and accessibility. However, most existing searchable encryption solutions use centralised architecture. These systems have trust issues as not all the CSPs are fully trusted or honest. To address these problems, we explore blockchain technology with smart contract applications to construct a decentralised system with auditable yet immutable data storage and access. First, we propose a blockchain-based searchable encryption scheme for EHR storage and updates in a decentralised fashion. The proposed scheme supports confidentiality of the outsourced EHR, keyword search functionalities, verifiability of the user and the server, storage immutability, and dynamic updates of EHRs. Next, we implement a prototype using JavaScript and Solidity on the Ethereum platform to demonstrate the practicality of the proposed solution. Finally, we compare the performance and security of the proposed scheme against existing solutions. The result indicates that the proposed scheme is practical while providing the desired security features and functional requirements.
Abstract: The paper looks at the chances of using blockchain technology for charitable purposes. To ensure data protection, fund integrity, and donation control, problems in this field necessitate the introduction of the latest storage tools and thus the transfer of knowledge between donors, foundations, donation recipients, and other charitable actors. Donors have doubts about how donated money is spent. Currently, blockchain technology is being implemented in several sectors. Blockchain technology allows you to make the method of donations and transactions of funds transparent. A single platform for tracking donations which will track all information about donations, transactions and donors has to be developed. This paper proposed a charity system supporting blockchain technology and expounds the planning pattern, architecture and operational process of the platform. Some core functions of the charity platform are realized and verified on Ethereum during this article. This blockchain system offers transparent accounts of operations donors, charitable foundations and donors supported blockchain technology, charitable platform should give transparent donation route, modify public user and donors to trace and cover where, when and to whom went resources of charity finances. Keywords: Donation System, Digital Charity, Tracking Donation, Charitable Foundations, Translucency
Cryptocurrencies, such as Bitcoin and Ethereum, have recently become a conversation topic among the general population. This paper will explore the information available in Reddit regarding crypto assets. Unlike other social platforms, Reddit allows analyzing the general population sentiment while conveniently organizing information by topic. We study the benefit of sentiment variables derived from Reddit's crypto forums to forecast volatilities and returns. While volatility forecasts seem to benefit from Reddit sentiment variables consistently, results are not statistically different from a benchmark. In contrast, returns present mixed forecasting results but show statistical differences from the proposed benchmark. We also offer evidence that the Reddit variables gain importance in market-wide and asset-specific events.
Enrico Tedeschi, Tor-Arne S. Nordmo, Dag Johansen, HĂĽvard D. Johansen
The transaction-rate bottleneck built into popular proof-of-work (PoW)-based cryptocurrencies, like Bitcoin and Ethereum, leads to fee markets where transactions are included according to a first-price auction for block space. Many attempts have been made to adjust and predict the fee volatility, but even well-formed transactions sometimes experience unexpected delays and evictions unless a substantial fee is offered. In this article, we propose a novel transaction inclusion model that describes the mechanisms and patterns governing miners decisions to include individual transactions in the Bitcoin system. Using this model we devise a Machine Learning (ML) approach to predict transaction inclusion. We evaluate our predictions method using historical observations of the Bitcoin network from a five month period that includes more than 30 million transactions and 120 million entries. We find that our Machine Learning (ML) model can predict fee volatility with an accuracy of up to 91%. Our findings enable Bitcoin users to improve their fee expenses and the approval time for their transactions.
Paolo Bottoni, Claudio Di Ciccio, Remo Pareschi, Nicola Gessa ¡ 5 authors
Smart contracts show a high potential for ensuring that Supply Chain Management strategies make a qualitative leap toward higher levels of optimality, not only in terms of efficiency and profitability but also in the aggregation of skills aimed at creating the best products and services to bring to the market. In this article, we illustrate an architecture that employs smart contracts to implement various algorithmic versions of the Income Sharing principle between companies participating in a supply chain. We implement our approach on Hyperledger Fabric, the most widespread platform for private and consortium distributed ledgers, and discuss its suitability to our purposes by comparing this design choice with the alternative given by public blockchains, with particular attention to Ethereum.
Muhammad Rizqon Baihaiqi, Siti Ummu Adillah, Dahniarti Hasana
Apart from the problems in terms of data security in the midst of blockchain-based business development in Indonesia, it turns out that another problem in smart contracts is that the use of Smart Contracts in Indonesia is actually still a discourse among legal experts regarding the validity of smart contracts. The aims of this research are: a) To find out and analyzeimplementation of the use of smart contracts in Indonesia; b) To know and analyzeobstacles in implementing smart contracts in Indonesia and their solutions; c) To know and analyzelegal remedies that can be taken in the event of a dispute between the parties in the smart contract; d) To find out examples of deeds inthe use of smart contracts in Indonesia as a form of artificial intelligence development." Researchers used normative research specifications with secondary data sources. Stages to find the target, then used the approach through legislation (statute approach). The results were juridical review of the use of smart contracts in Indonesia based on Article 1320 of the Civil Code.Article 1338 of the Civil Code explains that âall agreements made legally valid as law for those who make themâ. One of the uses of smart contracts on Ethereum. Thereuem's smart contract has the name ERC20.Article 3 Regulation of the Commodity Futures Trading Supervisory Agency Number 5 of 2019 concerning Technical Provisions for the Implementation of the Physical Market of Crypto Assets on the Futures Exchange, Bitcoin which can be traded on the Futures Exchange.Barriers to implementing Smart Contracts in Indonesia and their solutionsimplementing ISO-based Information Security Management or the simplest following the National Institute of Standards and Technology (NIST) framework. ISO 27001:2013 is the latest ISO 27000 series released in 2013. ISO 27001:2013.Article 30 Paragraph (3) in conjunction with Article 40 Paragraph (3) of Act No. 1 of 2008 concerning Information and Electronic Transactions.
Abstract Purpose In this paper, we define the concept of user spectrum and adopt it to classify Ethereum users based on their behavior. Design/methodology/approach Given a time period, our approach associates each user with a spectrum showing the trend of some behavioral features obtained from a social network-based representation of Ethereum. Each class of users has its own spectrum, obtained by averaging the spectra of its users. In order to evaluate the similarity between the spectrum of a class and the one of a user, we propose a tailored similarity measure obtained by adapting to this context some general measures provided in the past. Finally, we test our approach on a dataset of Ethereum transactions. Findings We define a social network-based model to represent Ethereum. We also define a spectrum for a user and a class of users (i.e., token contract, exchange, bancor and uniswap), consisting of suitable multivariate time series. Furthermore, we propose an approach to classify new users. The core of this approach is a metric capable of measuring the similarity degree between the spectrum of a user and the one of a class of users. This metric is obtained by adapting the Eros distance (i.e., Extended Frobenius Norm) to this scenario. Originality/value This paper introduces the concept of spectrum of a user and a class of users, which is new for blockchains. Differently from past models, which represented user behavior by means of univariate time series, the user spectrum here proposed exploits multivariate time series. Moreover, this paper shows that the original Eros distance does not return satisfactory results when applied to user and class spectra, and proposes a modified version of it, tailored to the reference scenario, which reaches a very high accuracy. Finally, it adopts spectra and the modified Eros distance to classify Ethereum users based on their past behavior. Currently, no multi-class automatic classification approach tailored to Ethereum exists yet, albeit some single-class ones have been recently proposed. Therefore, the only way to classify users in Ethereum are online services (e.g., Etherscan), where users are classified after a request from them. However, the fraction of users thus classified is low. To address this issue, we present an automatic approach for a multi-class classification of Ethereum users based on their past behavior.
We empirically study the state of three prominent DAO governance systems on the Ethereum blockchain: Compound, Uniswap and ENS. In particular, we examine how the voting power is distributed in these systems. Using a comprehensive dataset of all governance token holders, delegates, proposals and votes, we analyze who holds the voting power and how this power is being used to influence governance decisions. While we reveal that the majority of voting power is concentrated in the hands of a small number of addresses, we rarely observe these powerful entities overturning a vote by choosing a different outcome than that of the overall community and less influential voters.
In this study, we propose an Information-Centric Network (ICN) approach for the Internet as an alternative to the present host-centric architecture. The proposed approach solves present Internet challenges, where most Internet users nowadays are involved in seeking knowledge by searching through large amounts of data, independent of the data's physical locations and these users usually have requests that need prompt responses. Hence, Internet requirements have got a new shape and the whole Internet paradigm should be shifting where different network considerations are needed. In this context, ICNs can play a vital role where the host-centered architecture is replaced by a content-centered one since the content itself is the aim and not the location. However, the ICN paradigm as a substitute for traditional Internet faces some challenges in terms of security and performance. ICN needs to be protected against some threats such as Denial-of-Service attacks (DoS), hacker attacks, loss of data, data replication, and cache pollution. To accomplish this, we propose this Secured Blockchain-Based ICN (SBBICN) implementation that exploits the secure aspects of Blockchain technology such as data integrity and non-tampering to secure the ICN against the aforementioned threats. In this proposed system, we describe and develop a voting system based on a blockchain consensus algorithm to avoid a single point of failure during the verification process and we apply the system using an Ethereum smart contract to verify the effectiveness of the proposed system. The experimental results and the security analysis demonstrate the effectiveness of the SBBICN proposal when compared to other schemes in the literature.
Ethereum is taken as the representative platform of the second generation of blockchain system.Ethereum can support development of different distributed applications by running smart contracts.Local database is used to store the account state (named world state) for efficient validation of transactions, and the state root is stored in the block header to guarantee the integrity of the state.However, some researches revealed that the local database could be easily tempered with, and attackers can issue illegal transactions based on the modified account state to obtain illegitimate benefits.This world-state based security problem was introduced, and the preconditions for attack were analyzed.Compared with the two common security threats under the PoW (proof of work) consensus, it was found that when the attacker controls the same mining computing power, the world-state based attack brought higher risk, and the success rate approached 100%.In order to deal with this threat, a practical scheme for attack detection and defense was proposed accordingly.The secondary verification and data recovery process were added to the Ethereum source code.The feasibility and complexity of the proposed scheme was evaluated with single-machine multi-threading experiments.The proposed scheme improves Ethereumâs tolerance to malicious tampering of account state, and is applicable to other blockchain platforms applying local database for transaction validation, such as Hyperledger Fabric.In addition, the time and computational overhead brought by the proposed scheme are not prominent, so it has good applicability and induces acceptable impact on the performance of original system.
Ijeoma P. Ojiakor, Ifeoma M. Ihegboro, Vitalis C. Onah
<em>The study examined regulatory challenges in cryptocurrency with particular reference to the first bank Nigeria Plc. The study specifically examined the effect of Bitcoin (BTC) payment system, Litecoin (LTC) payment system, Ethereum (ETH) payment system, and Bitcoin Cash payment system on the profit for the year of first bank Nigeria Plc. Data for the study was sourced through annual reports and accounts of first bank Plc for a period of 10 years, data collected were analyzed using multiple regression analysis. The result of the analysis shows that Bitcoin (BTC) payment system has a positive and significant effect on the profit for the year of the first bank Nigeria Plc. It was also observed that Litecoin (LTC) payment system has a negative significant effect on the profit for the year of first bank Nigeria Plc. The study further shows that there is a negative effect of Ethereum on Profit for the year of first bank Plc. The study further indicates that Bitcoin Cash has a positive and significant effect on Profit for the year of first bank Plc. Several financial regulatory authorities and institutions issued casual warnings to the general public, advising of the risks of involvement in digital currencies; however, digital currencies (especially cryptocurrencies) are thriving since the number of businesses and persons who accept them as payment is increasing by the day. A significant number of people are now fully convinced that the digital currency Bitcoin is legitimate, safe, and has value. "Bitcoin is going to be transformative" but unfortunately, since it is virtually untraceable it has been used for a host of nefarious purposes. Although, digital currencies may be very attractive to cybercriminals and fraudsters and present a host of new challenges to law enforcement in Nigeria, its adoption as a tool for national development in the digital age should be widely encouraged. According to forecasts from Statistic, by 2021 the size of the blockchain technology market will grow to over $2 billion.</em>
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