Blockchain Papers

Syed Badruddoja, Sasi Kanduri, Ram Dantu

No abstract is available for this record.

Asnaf Ahmad, Hamza Mehmood

Financial industry operations have been substantially reformed through the adoption of decentralized applications (dApps) as well as blockchain technology during recent years. This research aims to handle three main issues within decentralised finance (DeFi) by focusing on transaction functionality execution and system scalability and enhanced security features. We implemented secure measures for integer overflows and reentrancy avoidance through extensive testing which proved successful in eliminating reentrancy gaps and integer overflows. The scalability tests demonstrated functioning performance with network congestion but bigger congestion caused noticeable delays alongside elevated latency levels. Due to the nature of large transaction processing additional optimization measures need implementation. The results of functional testing showed that 100% of token transfers succeeded together with 97.5% success rate for asset management operations. The success rate of decentralized trade operations reached 96% according to results. Smart contract implementations succeed in protecting transactions yet need additional work to increase scalability and improve decentralized exchange functions. The research concludes that smart contract-based DeFi solutions show substantial promise yet demands continuous advancement to gain more widespread market adoption.

Fomintsov Trukhaev, Vladimir

The present study explores the field of decentralized oracles, paying specific attention to the Chainlink network. Additionally, the study includes the creation of a decentralized finance (DeFi) trader smart contract that integrates Chainlink's oracles and price feeds. Moreover, it is discussed how decentralized oracles play a crucial role in facilitating connectivity between blockchain systems and external data sources, thereby bolstering operational capabilities and broadening the scope of functionalities available to blockchain applications. The principal aim of this research is to illustrate the incorporation and application of decentralized oracles in practical settings, particularly by means of the construction of a DeFi trader smart contract. The purpose of this contract is to utilize Chainlink's dependable and secure price feeds for the implementation of essential trading operations, including the initiation and processing of purchase and sale transactions, as well as the management of limit orders. The utilization of reliable and promptly available market data from Chainlink's decentralized oracle network enables the smart contract to facilitate efficient and transparent trading activities. The primary elements of this study entail a comprehensive examination of Chainlink's complex architectural framework, consisting of decentralized oracle networks (DONs) that collate and authenticate data from various origins to safeguard the accuracy and integrity of the data. The research also examines pertinent security issues such as Sybil attacks, data manipulation, and node collusion, and delves into different strategies to mitigate these risks, including cryptographic proofs, multi-source data aggregation, and robust consensus mechanisms. In summary, this investigation highlights the importance of decentralized oracles in enhancing the functionalities of blockchain technology and DeFi applications. The results emphasize the need for extensive implementation and incorporation of decentralized oracles in order to guarantee the sustained progress and prosperity of blockchain ecosystems. This study offers a thorough and technical analysis of the architecture, security, and practical uses of Chainlink decentralized oracles, providing valuable perspectives for the advancement of financial innovations based on blockchain technology.

Warmayana I Gede Agus Krisna, Koki Hayashida, Hiroki Minegoshi, Nobuto Oka

To effectively utilize globally distributed materials data, we developed a prototype decentralized materials data management system. The secure, transparent, and efficient management of materials data was achieved using blockchain technology, smart contracts, non-fungible tokens (NFT), and interplanetary file system (IPFS) in Web3. The effectiveness of the prototype was also discussed in the case studies using performance data on materials used in environmental purification and rechargeable batteries.

M. Praveen, Raghavendra Ramesh, Isaac Doidge

Decentralized Finance (DeFi) has emerged as a contemporary competitive as well as complementary to traditional centralized finance systems. As of 23rd January 2024, per Defillama approximately USD 55 billion is the total value locked on the DeFi applications on all blockchains put together. A Byzantine Fault Tolerant (BFT) State Machine Replication (SMR) protocol, popularly known as the consensus protocol, is the central component of a blockchain. If forks are possible in a consensus protocol, they can be misused to carry out double spending attacks and can be catastrophic given high volumes of finance that are transacted on blockchains. Formal verification of the safety of consensus protocols is the golden standard for guaranteeing that forks are not possible. However, it is considered complex and challenging to do. This is reflected by the fact that not many complex consensus protocols are formally verified except for Tendermint and QBFT. We focus on Supra's Pipelined Moonshot consensus protocol. Similar to Tendermint's formal verification, we too model Pipelined Moonshot using IVy and formally prove that for all network sizes, as long as the number of Byzantine validators is less than one thirds, the protocol does not allow forks, thus proving that Pipelined Moonshot is safe and double spending cannot be done using forks. The IVy model and proof of safety is available on Github.

Luca Giorgino, Andrea Vesco

This paper presents, for the first time, the Mediterraneous protocol. It is designed to support the development of an Internet of digital services, owned by their creators, and consumed by users by presenting their decentralised digital identity and a proof of service purchase. Mediterraneous is Self-Sovereign Identity (SSI) native, integrating the SSI model at the core of its working principles to overcome the limitations resulting from using pseudonyms and centralised access control of existing Web3 solutions.

Jakov Buratović

U ovom radu su istraženi mehanizmi koji osiguravaju i decentraliziraju blok-lanac mreže čiji se konsenzus postiže mehanizmom dokaza o zalogu (engl. Proof of Stake). Dan je pregled različitih načina na koji korisnici mogu sudjelovati validaciji mreže. Predstav- ljene su prednosti za korisnike koji sudjeluju, no i mane koje se pojavljuju prisutnošću većeg broja transakcija na mreži u jedinici vremena. Objašnjen je predložen pristup koji povezuje tehnologije skaliranja blok-lanac mreža i validacije uz analizu rezultata i pri- jedloge poboljšanja te decentralizirane aplikacije.

Felix Wagner

The rapid evolution of intelligent systems has led to the emergence of distributed artificial intelligence architectures where multiple agents collaborate to solve complex problems. However, enabling secure and trustworthy collaboration among distributed agents remains a major challenge due to issues related to data integrity, privacy, and trust management. Blockchain technology offers a decentralized and tamper-resistant infrastructure that can address these challenges by enabling transparent and secure coordination among intelligent agents. This paper proposes a blockchain-enabled distributed intelligence platform designed to support secure multi-agent collaboration across decentralized environments. The architecture integrates smart contracts, distributed ledgers, and machine learning agents to create a trusted computational ecosystem where agents can exchange data, validate actions, and coordinate decisions without relying on centralized authorities.

Baoyu Hu, shangping wang, Chunxia Yang, Wei Xu · 5 authors

No abstract is available for this record.

Maede Hojjati, Arian Arabnouri, Alireza Shafieinejad, Halim Yanıkömeroğlu

Universal Subscriber Identity Module (USIM) is an essential part of the mobile network mainly for providing identification and authentication of the subscriber. The activation and deactivation of USIMs are the two most critical services that must be supported by Mobile Network Operators (MNOs). The current solutions suffer from several limitations such as the lack of round-the-clock services and the presence of a single point of failure. In this paper, we propose a blockchain-based scheme for USIM management. Each MNO creates its own smart contract and publishes its address to subscribers. Subscribers can then directly submit their requests by registering a transaction that invokes a specific function of the smart contract. The proposed scheme provides an anytime-anywhere service while at the same time it leverages the benefits of blockchain technology, such as a decentralized architecture that prevents Denial-of-Service (DoS) attacks, as well as a secure auditable log and payment using cryptocurrency. Moreover, we provide a security proof for the scheme through formal verification. Our results demonstrate that our scheme ensures subscriber privacy while providing mutual authentication among participants. Finally, our evaluation on the Ethereum blockchain confirms the efficiency of the scheme in terms of both transaction and execution costs.

Anvesh Katipelly

The increasing complexity of decentralized financial systems has necessitated advanced orchestration mechanisms capable of managing dynamic, distributed microservices. Conventional orchestration methods tend to be less flexible, scalable and transparent to support real time financial functions. The proposed paper presents a new Hierarchical Agentic Orchestration architecture, which uses neuro-symbolic intelligence to facilitate the dynamism in composing a workflow in decentralized finance (DeFi) systems. The suggested model uses a multi-level hierarchy of intelligent agents such global, domain and local agents which are coordinated by the use of meta-controller mechanisms. The complex workflows can be broken into parts in this structure and also it promotes real time flexibility. The neuro-symbolic layer unites machine learning predictive analytics models with symbolic rule enforcement and compliance with a need to ensure flexibility and interpretability. Moreover, the blockchain and smart contract offer a level of trust, immutability, and auditability, which solve the essential issues of decentralized systems. The implementation is carried out on the microservices-based architecture with an event-driven communication channel, which allows workflow execution to be scaled and resilient. The experimental findings show that there are significant latency, throughput, and accuracy improvements with experimental techniques as opposed to the conventional techniques of orchestration. The system is also highly adaptable to the dynamic load and keeps within the predefined policies. On the whole, the study introduces an all-encompassing and intelligent orchestration paradigm that promotes efficiency, transparency, and reliability of decentralized financial ecosystems, which is the foundation of next-generation autonomous financial systems.

Davide Frey, Lucie Guillou, Michel Raynal, François Taı̈ani

This paper explores the territory that lies between best-effort Byzantine-Fault-Tolerant Conflict-free Replicated Data Types (BFT CRDTs) and totally ordered distributed ledgers, such as those implemented by Blockchains. It formally characterizes a novel class of distributed objects that only requires a First In First Out (FIFO) order on the object operations from each process (taken individually). The formalization leverages Mazurkiewicz traces to define legal sequences of operations and ensure both Strong Eventual Consistency (SEC) and Pipleline Consistency (PC). The paper presents a generic algorithm that implements this novel class of distributed objects both in a crash- and Byzantine setting. It also illustrates the practical interest of the proposed approach using four instances of this class of objects, namely money transfer, Petri nets, multi-sets, and concurrent work stealing dequeues.

Wilson C. Ahiara, Chiamaka J. Ezeh, C. Ofoji

<em>Electronic commerce (e-commerce) has revolutionized the way businesses operate worldwide. This technology has enabled online trading and economic services across various industries. Third-party marketplaces, known for their trusted intermediation and secure online transaction services to anonymous internet traders, are among the drivers of e-commerce. These centralized corporations charge a fee for their services, but online trading is not immune to various crimes such as identity theft, non-payment, delayed service delivery, and other attendant risks. To mitigate these problems, this research proposes a prototype system that utilizes blockchain technology to achieve decentralization in internet trade. The system's proof-of-concept utilizes the Ethereum Virtual Machine (EVM) and Interplanetary File System (IPFS). The proposed system can work with EVM-compatible blockchains such as Tron, the Binance Smart Chain, Matic network, Tomo chain, and Rootstock (RSK) network. The study demonstrates the potential of blockchain technology in e-commerce by providing a decentralized marketplace that is free from centralized control. By removing intermediaries, the proposed system eliminates the need for trust in third-party marketplaces, which in turn reduces transaction costs, and ensures transparency and accountability. The findings of this research highlight the practicality of using blockchain technology in e-commerce, and how it can significantly reduce transaction costs, improve security, and promote decentralization</em><em>.</em>

Authors unavailable

Crowdfunding is a popular method for raising funds for projects, businesses, and social causes.However, traditional crowdfunding platforms are often centralized, opaque, and inefficient.In recent years, Blockchain technology has become a potentially effective remedy to these problems.By leveraging the benefits of blockchain, such as transparency, security, and efficiency, we can create a new paradigm for crowdfunding that is decentralized, transparent, and efficient.In this paper, we explore the use of blockchain in crowdfunding and describe a prototype crowdfunding platform that uses Solidity, Next.js,Node.js,Polygon, Metamask, IPFS, and Infura to provide a secure, efficient, and transparent way for users to create and donate to campaigns on the Ethereum blockchain.The use of smart contracts ensures that the funds are securely and efficiently allocated, while the integration of IPFS and Infura allows for decentralized storage of data and access to the Ethereum network.Our prototype demonstrates the potential of blockchain-based crowdfunding to transform the way we fund projects and causes.

Authors unavailable

the framework of relevant moral, safety, and ethical governance, we can generate various transportation planning schemes, different traffic application scenarios, and various ma nagement a nd control algorithms through only a few words.Gone are those days when we had to draw pictures one by one, set parameters one by one, and write code line by line.Meantime, the decentralized autonomous organization (DAO) is on the way.With no doubt, in the near future, with a clear sign of vitality, DAO and decentralized science (DeSci) will gradually become a new stream of scientific research and management organization mode, showing great

Shicheng Wan, Lin Hong, Wensheng Gan, Jiahui Chen · 5 authors

Since the first appearance of the World Wide Web, individuals have increasingly relied on the Internet for cyber social activities. The second phase of the World Wide Web, known as Web 2.0, has extensively attracted worldwide people who participate in creating and enjoying the virtual realm. Today, the next Internet revolution, Web3, will open new opportunities for conventional social models. The decentralization property of Web3 is capable of breaking the monopoly of Internet corporations. Moreover, Web3 will lead to a paradigm shift from the Web functioning solely as a publishing medium to one that fosters intensive interaction and participation. This shift will profoundly influence the interactions between users and platforms, relationships within production networks, and global economic models. As a result, it is necessary that this article technically, practically, and more broadly take an overview of Web3. This article presents a comprehensive survey of Web3, focusing on current technologies, challenges, opportunities, and outlook. This article first introduces several key technologies underlying Web3. Then, some types of Web3 applications (e.g., blockchain) are illustrated in detail. Blockchain and smart contracts ensure decentralized organizations are less trusted and more truthful than centralized ones. Decentralized finance will be global, and open with financial inclusiveness for unbanked people. This article also discusses the relationship between the Metaverse and Web3, including the differences and similarities between Web 3.0 and Web3. Drawing inspiration from Maslow’s hierarchy of needs theory, a novel hierarchy of needs theory within Web3 is proposed. Finally, several worthwhile future research directions of Web3 are discussed.

Murdoch J. Gabbay

Abstract We introduce semitopology, a generalization of point-set topology that removes the restriction that intersections of open sets need necessarily be open. The intuition is that points represent participants in a decentralized system, and open sets represent collections of participants that collectively have the authority to collaborate to update their local state; we call this an actionable coalition. Examples of actionable coalition include: majority stakes in proof-of-stake blockchains; communicating peers in peer-to-peer networks; and even pedestrians working together to not bump into one another in the street. Where actionable coalitions exist, they have in common that collaborations are local (updating the states of the participants in the coalition, but not immediately those of the whole system); collaborations are voluntary (up to and including breaking rules); participants may be heterogeneous in their computing power or in their goals (not all pedestrians want to go to the same place); participants can choose with whom to collaborate; and they are not assumed subject to permission or synchronization by a central authority. We develop a topology-flavoured mathematics that goes some way to explaining how and why these complex decentralized systems can exhibit order, and gives us new ways to understand existing practical implementations. Semitopology is also interesting in and of itself, having a rich and interesting theory that quickly deviates from standard accounts on topological spaces. It soon becomes clear that the most interesting semitopologies are rather ill-behaved from the usual viewpoint, as they are never Hausdorff. A notion of ‘transitive open sets’ (topens) becomes central to the story, as topens define subsets of participants who should decide the same value in a distributed system that tries to achieve consensus, and points are called ‘regular’ when they have a topen neighbourhood. The theory is then further developed by introducing intertwined points, closures, closed sets and two interesting characterizations of regularity.

Authors unavailable

Welcome to the fifteenth Jubilee International Symposium on Autonomous Decentralized Systems (ISADS).As Lifetime Honorary Chair, I would like to thank you for coming to ISADS 2023. ISADS was founded in 1993 atKawasaki, Japan.Since then, ISADSs have been held world-wide every two years except in 2021 due to pandemic.They were successful in their high quality and broad international participation from academia, government and industry.At the first ISADS, the concept of autonomous decentralized systems (ADS) was well recognized.During the last 30 years, fields of ADS have been substantially advanced to provide solutions for control, communication, computing, service systems and further to organization and finance management, such as FinTech along with rapid development of other related technologies and management.ISADS 2023 reflects not only such maturity but also innovation in ADS concept, technology and application as well as further integration with other heterogeneous fields.Now, structures of Society, Value, Business and Technology have been unpredictably and rapidly transformed under climate change, pandemic and economic turmoil.ADS, which behaves as a living system comprised of largely autonomous and decentralized subsystems, has been successfully contributing to fulfill adaptive, reliable and expandable properties under changing and transforming environment as consistent concept.The continuous growth of ISADS in size and diversity is reflected by the sponsoring society, the Computer Society of the Institute of Electrical and Electric Engineers (IEEE) together with the cooperating societies including the International Federation for Information Processing (IFIP), the International Federation of Automatic Control (IFAC), the Institute of Electronics, Information and Communication Engineers (IEICE), Japan and Object Management Group (OMG), as well as the strong supporting organization of Universidad Panamericana, Mexico.I hope that you will find the program stimulating and that you will take the opportunity to meet with your colleagues from around the world to engage in social as well as technical discussions.In addition, technical sessions and workshops on the hot topics of technologies and their advanced applications are jointly arranged.The success of the symposium depends on the dedication and contributions of many volunteers, committee members, authors, reviewers, speakers, workshop chairs, session chairs and supporting personnel, and the strong organizations.I would like to thank Honorary Chairs, Bojan Cukic and General Chair, Carlos Perez for their direction.

Nickolas Carter, Duane Davis, Cynthia E. Irvine, Peter Pommer

Autonomous multi-vehicle systems are becoming increasingly relevant in military operations and have demonstrated potential applicability in civilian environments as well. A problem emerges, however, when logging data within these systems. In particular, potential loss of individual vehicles and inherently lossy and noisy communications environments can result in the loss of important mission data. This paper describes a novel distributed ledger protocol that can be used to ensure that the data in such a system survives and documents verification of the behavioral correctness of this protocol using informal verification methods and tools provided by the Monterey Phoenix project.

Johannes Rude Jensen, Omri Ross

In the span of just six years, the once-nascent concept of the decentralized autonomous organization (DAO) has grown into a rich tapestry of fluid organizations and token-powered communities.1 Today, DAO governance is considered to be a new universal primitive for value generation and capture across digital markets and industries. The thinking is that, in all instances in which value is generated by networks of prosumers and consumers, a DAO model has the potential to reallocate value capture to the network.

Mehrdad Kiamari, Bhaskar Krishnamachari, Muhammad Naveed, Seokgu Yun

We present Blizzard, a Byzantine fault tolerant (BFT) distributed ledger protocol that is aimed at making mobile devices first-class citizens in the consensus process. Blizzard introduces a novel two-tier architecture by having the mobile nodes communicate through online brokers, and includes a decentralized matching scheme to ensure each node connects to a certain number of random brokers. Through mathematical analysis, we derive a guaranteed safety region (i.e., the set of ratios of malicious nodes and malicious brokers for which the safety is assured) for the Blizzard protocol. Liveness is shown as well. We analyze the performance of Blizzard in terms of its throughput, latency, and message complexity. Through experiments based on a software implementation, we show that Blizzard is capable of throughput on the order of several thousand transactions per second per shard and sub-second confirmation latency.

Chrysoula Stathakopoulou, Tudor David, Matej Pavlovič, Marko Vukolić

This paper presents Mir-BFT, a robust Byzantine fault-tolerant (BFT) total order broadcast protocol aimed at maxi-mizing throughput on wide-area networks (WANs), targetingdeployments in decentralized networks, such as permissionedand Proof-of-Stake permissionless blockchain systems. Mir-BFT is the first BFT protocol that allows multiple lead-ers to propose request batches independently (i.e., parallelleaders), while effectively precluding performance degrada-tion due to request duplication by rotating the assignmentof a partitioned request hash space to leaders. As this mech-anism removes the single-leader bandwidth bottleneck andexposes a computation bottleneck related to authenticatingclients even on a WAN, our protocol further boosts through-put using a client signature verification sharding optimization.Our evaluation shows that Mir-BFT outperforms state-of-the-art single-leader protocols and orders more than 60000 signedBitcoin-sized (500-byte) transactions per second on a widelydistributed setup (100 nodes, 1 Gbps WAN) with typical la-tencies of few seconds. Moreover, our evaluation exposesthe impact of duplicate requests on parallel leader protocolswhich Mir-BFT eliminates. We also evaluate Mir-BFT un-der different crash and Byzantine faults, demonstrating itsperformance robustness. Mir-BFT relies on classical BFT protocol constructs, whichsimplifies reasoning about its correctness. Specifically, Mir-BFT is a generalization of the celebrated and scrutinizedPBFT protocol. In a nutshell, Mir-BFT follows PBFT “safety-wise”, with changes needed to accommodate novel featuresrestricted to PBFT liveness.

VIROVETS D.V., OBUSHNYI S.M.

The subject of the study. The effective functioning of decentralized autonomous organizations<br> (DAOs) is associated with moving from the digital level to the real level in order to find or provide<br> information and communicate with the real environment. Obtaining or transmitting necessary<br> information about certain real–world facts, or information from other digital databases that cannot<br> interact directly with the DAO, is provided through oracles as intermediaries between decentralized<br> databases and real–world events.<br> Results of work. In this article, we consider the oracle as a tool for collecting information for DAO,<br> able to ensure transition of information from the unstable and unsecured physical world in the digital<br> environment of blockchain technology, where information acquires new characteristics and values.<br> Oracle, as a tool with a function of information delivery, combines the functions of finding the necessary<br> information with the functions of ensuring the authenticity and encryption of data in the required format.<br> Conclusions. This article gives a general understanding of the concept of the oracle, and its<br> significance for the work of DAO, as well as development of digital projects built using blockchain<br> technology. Classification of oracles for work with DAO is also given together with characteristics of<br> their possible role for organization of data supply. In addition, the possibility of building a DAO with oracle<br> functions to perform non–standard tasks for the transportation and adaptation of information for<br> various purposes in a blockchain environment is considered. The article also presents main problems<br> that may arise in interactions of oracles with DAO, and suggests possible solutions.

Joachim Neu, Srivatsan Sridhar, Lei Yang, David Tse · 5 authors

Satoshi Nakamoto's Proof-of-Work (PoW) longest chain (LC) protocol was a breakthrough for Internet-scale open-participation consensus. Many Proof-of-Stake (PoS) variants of Nakamoto's protocol such as Ouroboros or Snow White aim to preserve the advantages of LC by mimicking PoW LC closely, while mitigating downsides of PoW by using PoS for Sybil resistance. Previous works have proven these PoS LC protocols secure assuming all network messages are delivered within a bounded delay. However, this assumption is not compatible with PoS when considering bandwidth constraints in the underlying communication network. This is because PoS enables the adversary to reuse block production opportunities and spam the network with equivocating blocks, which is impossible in PoW. The bandwidth constraint necessitates that nodes choose carefully which blocks to spend their limited download budget on. We show that 'download along the longest header chain', a natural download rule for PoW LC, emulated by PoS variants, is insecure for PoS LC. Instead, we propose 'download towards the freshest block' and prove that PoS LC with this download rule is secure in bandwidth constrained networks. Our result can be viewed as a first step towards the co-design of consensus and network layer protocols.