Distributed ledger technologies provide a mechanism to achieve ordering among transactions that are scattered on multiple participants with no prerequisite trust relations. This mechanism is essentially based on the idea of new transactions referencing older ones in a chain structure. Recently, directed acyclic graph (DAG)-type distributed ledgers that are based on DAGs were proposed to increase the system scalability through sacrificing the total order of transactions. In this paper, we develop a mathematical model to study the process that governs the addition of new transactions to the DAG-type distributed ledger. We propose a simple model for DAG-type distributed ledgers that are obtained from a recursive young-age preferential attachment scheme (i.e., new connections are made preferably to transactions that have not been in the system for very long). We determine the asymptotic degree structure of the resulting graph and show that a forward component of linear size arises if the edge density is chosen sufficiently large in relation to the âyoung-age preferenceâ that tunes how quickly old transactions become unattractive. Funding: The research of C. MĂśnch is supported by the Deutsche Forschungsgemeinschaft [Grant 443916008].
The emergence of Web3 technologies is transforming the internet and its applications. Web3 refers to the next generation of the internet, which is built on blockchain technology and decentralized applications. This new version of the internet is expected to be more secure, transparent, and open than the current Web2, which is characterized by centralized control and data ownership.The review paper provides an overview of Web3 and its significance in the context of the internet and blockchain technology. It explains how Web3 is different from Web1 and Web2, and why it has the potential to revolutionize various industries. Web1 was the first version of the internet, which was static and read-only. Web2, on the other hand, introduced interactive and social elements to the internet, but it still relies on centralized control and data ownership. The review paper goes on to explain the various technologies associated with Web3, such as blockchain technology, decentralized applications (dApps), and smart contracts. Blockchain technology is the backbone of Web3 and enables decentralized data storage and transaction processing. Decentralized applications (dApps) are software programs that run on a blockchain and enable peer-to-peer transactions without the need for intermediaries. Smart contracts are self-executing contracts that automatically enforce the rules and regulations of an agreement. The review paper also explores the rise of decentralized finance (DeFi) and its impact on the financial sector. DeFi is a subcategory of dApps that enables decentralized financial services such as lending, borrowing, and trading without the need for traditional financial intermediaries. The report discusses how DeFi is disrupting the traditional financial sector and opening new opportunities for innovation and financial inclusion. The review paper further discusses the potential use cases for Web3 in industries such as gaming, social media, supply chain management, and identity verification. For example, Web3 can enable new models of gaming that are more transparent and fairer for players, as well as provide a more secure and private social media experience. In supply chain management, Web3 can enable greater transparency and traceability of products, which can improve efficiency and reduce fraud. In identity verification, Web3 can provide a decentralized and secure way for individuals to prove their identity without relying on centralized authorities.Finally, the review paper discusses the challenges and limitations of Web3 technologies, such as scalability, interoperability, and user adoption. Despite these challenges, the report provides a vision for the future of Web3 and its potential impact on society.Web3 has the potential to create a more open, decentralized, and equitable internet that empowers individuals and communities.
We examine whether business model concepts, that demonstrate significant convergence to Distributed Ledger Technology (DLT) attributes, fit to DLT ecosystem characteristics and identify similarities and deflections. We answer the question whether the appropriate DLT business model is totally unique or adjustable and what conditions need to be met. The study follows a conceptual approach that is based on critical examination of three business model types that demonstrate similarities to the business model that an organization needs to adopt in order to fit in DLT ecosystem characteristics. Although each one of the network, digital and information business model types demonstrate similarities to DLT business model and reveal some resemblance with it, there are critical parameters that are neither addressed nor partially met. The main contribution of study is the exploration of the adjustable nature of the DLT business. Moreover, we highlighted the challenge for DLT ecosystem sustainability, defined and reviewed the conditions that need to be considered for DLT business model design.
Abstract This commentary explores the feasibility of blockchain technologies (and cryptocurrencies) in contesting the power of centralized, corporate platforms. While proponents of blockchain and cryptocurrencies regularly proclaim their power to decentralize and counter corporate power, I am much more constrained in my assessment and note the significant challenges facing open blockchain approaches in competing with platforms. From this, I highlight three key areas in which blockchains may complicate platform operations, albeit in indeterminate ways. These include (i) closed, state-based blockchain systems focused on making back-office processes more efficient, (ii) the use of cryptocurrencies for platform-based transactions and (iii) providing digital objects with an element of âuniquenessâ that makes them tradable in new ways. In the end, blockchain and cryptocurrencies are technologies like any others, providing affordances for some kinds of action over others but ultimately their embeddedness in practice and space shapes how they impact the organization and geography of economies, societies and regions.
<ns4:p>The decentralized approach of blockchain technology has resulted in innovations across various industries, including finance which is facing challenges due to the rise of decentralized finance (DeFi) in the market. Decentralization improves business processes and spurs product innovation through increased transparency and removing intermediaries. A taxonomy, created through literature review and expert interviews, outlines the four dimensions of these advancements: key drivers, products, benefits, and emerging threats. Proposed solutions are also included to tackle the threats.</ns4:p>
Interlocal cooperation has long been promoted in the Philippines to address the resource limitations of local government units; however, there is a lack of discussion on how it can efficiently deliver urban services. This study aims to investigate cooperation models in the delivery of critical urban services by evaluating the management structure, financing strategies, sustainability, and issues/challenges of the interlocal arrangement in relation to operationalization. It focuses on answering the following policy questions: (1) what forms of interlocal cooperation have been utilized in the delivery of urban services; (2) how has interlocal cooperation improved the delivery of urban services; and (3) how can interlocal cooperation work better and be sustained given the decentralized nature of local politics. A closer look through findings from desk reviews and interviews is given to solid waste management and healthcare since they have been identified as services wherein cooperation among LGUs is extensively developed. Reforms are then proposed to improve the effectiveness of interlocal cooperation in efficiently delivering urban services.
Abstract: Crowd funding has come to a popular form of collaborative backing, in which small donations or investments, made by groups of people, support the development of new systems in exchange for free products or different types of recognition. Social network spots, in this paper, we present Fundaid, a block chain-grounded decentralized platform that combines social relations with crowdfunding mechanisms, allowing any user to raise finances while getting popular in the social network. Being erected over the ethereal block chain, Fundaid is structured as a Decentralized Autonomous Organization (DAO) that fosters crowdfunding without the intervention of any central authority, and recognizes the active part of benefactors, enabling them to support artists or systems, while making gains
Tanusree Sharma, Yujin Potter, Kornrapat Pongmala, Henry E. Wang ¡ 7 authors
Decentralized Autonomous Organizations (DAOs) have emerged as a novel way to coordinate a group of (pseudonymous) entities towards a shared vision (e.g., promoting sustainability), utilizing self-executing smart contracts on blockchains to support decentralized governance and decision-making. In just a few years, over 4,000 DAOs have been launched in various domains, such as investment, education, health, and research. Despite such rapid growth and diversity, it is unclear how these DAOs actually work in practice and to what extent they are effective in achieving their goals. Given this, we aim to unpack how (well) DAOs work in practice. We conducted an in-depth analysis of a diverse set of 10 DAOs of various categories and smart contracts, leveraging on-chain (e.g., voting results) and off-chain data (e.g., community discussions) as well as our interviews with DAO organizers/members. Specifically, we defined metrics to characterize key aspects of DAOs, such as the degrees of decentralization and autonomy. We observed CompoundDAO, AssangeDAO, Bankless, and Krausehouse having poor decentralization in voting, while decentralization has improved over time for one-person-one-vote DAOs (e.g., Proof of Humanity). Moreover, the degree of autonomy varies among DAOs, with some (e.g., Compound and Krausehouse) relying more on third parties than others. Lastly, we offer a set of design implications for future DAO systems based on our findings.
Blockchain technologies are of great interest to marketers uncovering opportunities in the context of the sharing economy. The novel appeal of blockchain is that it provides an immutable audit trail of digital tokens and contracts via a peer-to-peer (P2P) network without the need for a market intermediary. It thus enables digital exchange without the need for a trusted central authority or third party, affording an infrastructure for a variety of applications. We assess how blockchain technologies facilitate sharing beyond its role as a technological protocol and how it instead operates as a social machine. We explore these implications for marketing philosophically through the lenses of assemblage and pharmakon. We identify two contradictions for marketers: (1) how marketing with blockchain technologies in the sharing economy challenges past institutional roles of marketers and seeks to eradicate them, and (2) how these technologies produce a new notion of capitalized sociality devoid of trust.
The rapid development of blockchain has inspired many traditional centralized intermediaries to transform their transaction models, especially for the peerâtoâpeer market. Lately, the tokenâbased (blockchain) system (with cryptocurrency) is gaining popularity. However, little is known about the (comparative) performance of different operating types. In this study, we build an analytical framework to find the optimal strategies for the tokenâbased and nonâtokenâbased blockchain (as a special application scenario) platforms and derive the essential model properties and characteristics. We analytically show how the optimal mining bonus depends on the fraction of reserved tokens sold to customers and on the priceâtoâsales ratio. Furthermore, we obtain several actionable findings for choosing suitable platform types under different scenarios. The shift from the nonâtokenâbased platform to the tokenâbased platform may yield greater social welfare unless the nonâtokenâbased system operates with a much larger ride price, which we show to be unrealistic for the considered Beijing case through numerical studies. Moreover, we find that the matching probability for the tokenâbased platform is predominantly higher than that for the nonâtokenâbased one. Besides, government interventions may encourage a path toward a fair consensus mechanism or a high decentralization level in order to enhance social welfare. One unanticipated finding is that a higher decentralization level may lead to a lower mining capacity shortage and so to a more efficient system, indicating that the combination of blockchain and the sharing economy has much potential.
This project proposes a blockchain-based framework from the existing centralized framework for a ride- sharing service and implements the same as a decentralized application based on smart contracts on Polygon Blockchain. A ridesharing system helps riders to reach a particular destination driven by the owner of the ride. Most services available in the market are centralized and hosted by a third party which gives them the authority to monitor features like fare calculation, user data, etc. Privacy and trust are major concerns in such a system. The purpose of our project is to make a decentralized application for ride sharing where all transactions, fare calculation, matching and information is stored on a Distributed Ledger. The ledger will be accessible to all the peers in the network. This will match users with rides in a decentralized way without relying on third parties of any centralized network which makes the system transparent and reliable. The data on blockchain is immutable. Hence, this technology is used to store rides and user information to maintain security and ensure user privacy. Finally, this project provides guidance for future research with the promising and important directions in blockchain-based ride-sharing services. Key Words: Blockchain; Peer to peer network; Security; Transactions; Ridesharing; Smart Contract; Polygon.
Juan F. Prados-Castillo, JosĂŠ Manuel Guaita MartĂnez, Agnieszka ZieliĹska, Dolores Gorgues Comas
The deployment of Blockchain technology in the tourism industry is already becoming a reality with the gradual emergence of innovative business models. At its core is the promise of improving the efficiency of the tourism service value chain and enhancing the quality of the service provided to the end customer. This paper analyses research trends focused on using Blockchain technology in tourism. The aim is to determine how this technology impacts the tourism sector and its sustainability. A systematic review, descriptive bibliometric analysis, and network analysis based on co-authorship, co-citation, and keyword analysis criteria, among others, have been used. The results reveal that the subject matter analysed is generating a growing trend in academic research in the fields of sustainable management and supply chain efficiency. The activities in the tourism sector that are incorporating this technology to a greater extent are those related to the areas of marketing, logistics, and smart business models, according to the data extracted from the analysis. This technology already enables the application of solutions that predict and promote tourist behaviour based on sustainable behaviour and consumption habits, generating value for the different stakeholders.
The use of blockchain technology in Decentralized Finance (DeFi) has gained popularity, with 23 public companies and one country holding bitcoin. DeFi aims to create an open and decentralized financial ecosystem that is accessible to everyone, eliminates intermediaries like financial institutions, and is verifiable, immutable, globally accepted, fast, low-cost, anonymous, and non-custodial. Despite its benefits, the rapid growth of DeFi has led to increased security risks. This study assesses the validity of DeFi's superiority claims in light of security incidents and events in 2022 and Twitter trends. This study used a Systematic Literature Review from various research articles and news from 2022. This research found that DeFi's superiority claims seem to be inconsistent with what is being advertised. It also found that if DeFi is not properly prepared and audited, its strength (Anonymous, open-source, decentralized, non-custodial, eliminates third parties and regulation) may become its weakness. Despite this, users still exhibit high levels of trust and optimism, as seen in the most popular terms shared by user tweets during significant losses, with 301,654 unique tweets between April 30 and May 31, 2022 and 344,519 unique tweets between October 3 and December 3, 2022, that are crypto, nft, and blockchain.
This study investigates the effects of blockchain technology scalability limitations on the performance of Blockchain-Based Shared Manufacturing (BBSM), an innovative smart-manufacturing paradigm aimed at enhancing the utilization of global manufacturing resources via peer-to-peer (P2P) collaboration of self-organized manufacturing assets. Despite the prevalence of research highlighting blockchain technologyâs scalability limitations as the main barrier for adoption, few studies have explored their effects on the operation of blockchain-based systems. The primary goal of the presented research work is to explore the implications of blockchain technology scalability limitations on the BBSM systemâs performance and user behavior. To obtain realistic behavior, an experiment is conducted using an online game played by human participants. Analysis of the playersâ strategy is used for implementation of a multi-agent simulation model, which is then employed to assess the influence of varying blockchain network configurations on the BBSM conceptâs performance. Preliminary experimental findings reveal that a congested blockchain network leads to increased transaction costs and reduced service prices, consequently devaluing the manufacturing role in the BBSM system and causing underutilization of existing maximum production capacities. Moreover, allocating funds to financial activities rather than manufacturing activities yields superior outcomes for system users. Simulation results indicate that the BBSM systemâs response to alterations in blockchain network throughput is contingent upon the production function. The findings of this study reveal that the scalability limitations of blockchain technology impair the performance of the BBSM system and affect user behavior in the system, underscoring the necessity for future research to concentrate on incorporating scalable solutions within blockchain-based manufacturing systems.
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 Maslowâs hierarchy of needs theory, a novel hierarchy of needs theory within Web3 is proposed. Finally, several worthwhile future research directions of Web3 are discussed.
Due to the innovative business model and the digital platform's crucial role, the sharing economy appears to be a new entity in the business world. However, companies rake in by providing both parties with a common platform. This paper focuses on utilizing Blockchain technology (BCT) in the sharing economy. A theoretical model has been suggested that does away with the existing incentives system and permits transparency end to end. By fostering flexible networking architecture with openness and equality at its core, the sharing economy departs from the preexisting economic system and focuses on ownership. While sharing has evolved from a collaborative practice to a viable business model, it goes far beyond blurring the line between paid employment and uncompensated volunteering. Literature suggests that transportation and accommodation are the most promising domains of sharing economy. However, to ensure trust and transparency across the platform, BCT can be used. The proposed model uses tokenization and gamification over the underlying Proof-of-Stake (PoS) consensus mechanism to provide a real peerto-peer network that challenges the current model. The nodes and validators earn tokens as a reward, while the gamification process allows the service to scale and get better incentives.
In this paper we explore the importance of platform governance. We discuss various problems of centralized architecture in the context of the metaverse or sharing economy applications which may lead to monopoly market structures. We argue that open standards and blockchain-based governance can potentially mitigate some of these issues. We then collect governance data from the first blockchain-based virtual world and conduct an empirical analysis to study voter behavior within Decentralized Autonomous Organizations (DAOs). We provide empirical evidence that open standards and blockchain-based governance are a necessary but not a sufficient condition for a decentralized and neutral platform. Centralization and concentrated voting power may lead to dependencies, rent extraction behavior and create hold-up problems. Consequently, producers, prosumers and service providers must evaluate the governance structure of the platform before establishing a presence.
Xiaole Wan, Zhengwei Teng, Qianqian Li, Muhammet Deveci
Marine ranching, as a new commercial form, the lack of construction and development funds has become its development constraint. Crowdfunding provides a new way to break through the financing bottleneck of marine ranching, and blockchain technology (BT) can effectively solve the problem of information asymmetry in crowdfunding progress. However, the choice of enterprise crowdfunding methods and the influence of consumer crowdfunding and pre-sale crowdfunding on supply chain value co-creation have not been deeply studied. Based on the theory of value co-creation, this paper uses multi-level programming and backward induction method to construct and solve the supply chain models of consumer crowdfunding and pre-sale crowdfunding under the traditional mode and BT mode, and obtains balanced results. Analyze the influence of the product green attributes, the degree of the enterpriseâs attention to crowdfunding consumer value and ordinary consumer value, consumer recognition of product attributes (quality attributes, green attributes) and other parameters on supply chain operation; Through the comparative analysis of different models and numerical simulation, the optimal decision results are further discussed. The research shows that: (1) The overall value of the supply chain is higher when the marine ranching leading enterprise adopts the consumer crowdfunding method than when the pre-sale crowdfunding method. Moreover, the introduction of BT can improve the value of each subject in the supply chain system. (2) The marine ranching leading enterprise pays attention to the value of crowdfunding consumers and ordinary consumers, which will reduce their own value and increase the value of other subjects in the supply chain. The improvement of crowdfunding consumers' recognition of product attributes will improve their consumer value. (3) When the green attributes of products increase, the values of the leading enterprise, the retailer, the crowdfunding platform and consumers all increase, and the overall value of supply chain is improved. (4) Increasing product sales is the unified goal of all subjects in crowdfunding supply chain system, thus promoting the economic value and environmental value of enterprises.
Ahmet Faruk Aysan, Ahmet Semih TunalÄą, Giray GĂśzgĂśr
⢠We discuss an NFT solution for booking and reselling hotel reservations. ⢠A secondary NFT market for the hospitality industry is a prominent example. ⢠Hotel NFTs are vehicles to eliminate intermediaries. ⢠NFTs are even more revolutionary than cryptocurrencies.
Cernera, Federico, La Morgia, Massimo, Mei, Alessandro, Mongardini, Alberto Maria ¡ 5 authors
In the following, we report the regexes we use to find implementations of mechanisms that hinder the action of sniper bots. Sniper bots are software applications that monitor a specific activity to automatically perform an action before anyone else. In the blockchain world, Sniper Bots are commonly used to buy tokens as soon as they are listed on an AMM platform.
Tobias Guggenberger, Benjamin Schellinger, Victor von Wachter, Nils Urbach
Abstract Blockchain-based tokens seek to overcome the friction and opaqueness of the legacy financial infrastructure in the company funding process, particularly in the early-stage and equity crowdfunding domain. While Initial Coin Offerings and Security Token Offerings proposed a solution for crowdfunding, early-stage companies still face challenges in using blockchain as an alternative equity funding infrastructure. In this context, the idea of blockchain-based equity tokens remains hypothetical. In addition, the literature lacks design theory for the development and implementation of blockchain-based equity tokens. This research bridges this gap by designing, developing, and evaluating an equity token prototype for crowdfunding, following the design science research approach. We propose a refined crowdfunding model and derive seven design principles that contribute to the design theory of equity tokens. The research results show that blockchain-based equity tokens improve efficiency, transparency, and interoperability while meeting regulatory requirements and facilitating secondary market trading.
Abstract: The idea of sharing economy provides rise to distinctive concepts and develops innovative businesses. This text aims to relate the good town concept by introducing the good transport system and explores the opportunities of adopting blockchain technology in ridesharing services. Blockchain technology could be a distributed, suburbanized public ledger that allows peer-topeer transactions in a very secure means with no third party. This proposes a blockchain-based framework from the prevailing centralized framework for a ride-sharing service and implements a similar as a suburbanized application (DApp) primarily based on good contracts on Ethereum Blockchain. exploitation good contracts facilitate the users with automated transactions, removes the intermediaries, and allows varied activities to be carried out safely and firmly. Implementation of good contracts is finished exploitation of the Solidity programming language. This DApp uses the min matching algorithmic program to match riders requesting rideshare to avoid wasting total travel distance. With the overwhelming growth in the usage of crypto currencies, good contracts usage in applications as projected during this paper will rework the sharing economy.
The future iteration of the internet is often branded as Web3, claimed to be a decentralising phase of its evolution, a reaction to the centralisation in the Web 2.0 era. This upcoming version of the internet, afforded by distributed ledgers and blockchain technologies, is sometimes also called the "Web of Value". It highlights the expectation that as much of the content and services on the internet get âtokenisedâ, which enables their trade and related operations of âvalue creationâ. It is claimed that as the value of everything on the internet becomes more salient, conditioning new kinds of economic activities, relationships and forms of organising. In this article we discuss these expectations as imaginaries, the implications of which vary based on how they are framed or interpreted by different economic theories. More specifically, the article discusses the interpretations deriving from neoclassical economics, classical economics, heterodox economics and public value theory. We demonstrate significant differences between these interpretations and how they are offering competing imaginaries on the future internet.