Blockchain Papers

Gulbir Singh

No abstract is available for this record.

Maria Lyakina, A. Fedorov

See the retraction notice E3S Web of Conferences 549 , 00001 (2024), https://doi.org/10.1051/e3sconf/202454900001

Marianna Vanessa Buoni Pineda

This research examines the changes and effects of digital transfer in creative industries on the music market strategies for digital entrepreneurship. This study uses the transfer of digital technology, such as non-fungible tokens (NFTs) and Artificial intelligence (AI), by entrepreneurial producers and suppliers to illustrate how new technologies transform market dynamics through audience personalisation and decentralised business models. In addition to addressing how these new technologies open up opportunities, this paper provides industry stakeholders with practical strategies to negotiate challenges successfully. These changes change market access and generate entrepreneurial ideas by increasing the strategies' efficiency. At the same time, the results of this research show how the new business models presented in the new decentralised markets lead to the democratisation of the market and, thus, to the increase of entrepreneurship and the cultivation of new ideas. This study uses a questionnaire of music projects presented as NFT, the researcher's experiences participating in NFT projects, and a questionnaire conducted by the researcher with project agents. For this purpose, this research has used the 217 responses it received as statistical data from the questionnaire. This research examines identifying the results of using new technologies and their relationship with the theories of digital entrepreneurship strategy. It answers how using entrepreneurial strategies to apply new technologies, especially artificial intelligence and NFTs, creates new opportunities in entrepreneurship.

Sidra Malik, H. M. N. Dilum Bandara, Nick van Beest, Xiwei Xu

No abstract is available for this record.

Miloš Grujić, Želјko Vojinović

This paper examines the complex landscape of digital currencies, non-fungible tokens (NFTs), and distributed ledger technology (DLT), focusing on their implications within the accounting and financial reporting sector. The surge in popularity of these assets has brought about reporting challenges and complexities. The lack of comprehensive accounting standards and the digitization of financial reporting processes further compound the situation. These challenges underscore the need to update accounting practices to align with the security and transparency offered by DLT. The study examines the International Financial Reporting Standards (IFRS) for digital currency reporting, analysing their implications and potential solutions for the accounting community. Central to this exploration is the question: How can the accounting sector navigate the multifaceted challenges and harness the multifarious opportunities that stem from digital currencies, NFTs, and DLT? Using a comprehensive research approach, including a literature review, empirical analysis, case studies, and comparative analysis, this study identifies strategies for managing the reporting complexities of digital assets. It also highlights the importance of collaborative dialogue between stakeholders and regulators to ensure consistency in an evolving landscape. This paper guides the accounting and investment sector in making informed decisions, fortified by a nuanced understanding of the evolving digital asset terrain.

Lyudmila Kovalchuk, Nataliia Kuchynska, Mikhail S. Kondratenko

The paper investigates the issues of the safe operation of a two-level blockchain with a complex mixed consensus protocol — Proof-of-Stake in the main blockchain (mainchain) and Proof-of-Work in the secondary (sidechain). This two-level blockchain is built on the principle of the Proof-of-Proof protocol, where the safety of the sidechain is ensured by the stability of the mainchain, by referring the mainchain blocks to the sidechain blocks using special transactions. Such a structure allows faster issuance of blocks in the sidechain and, accordingly, faster processing of transactions without loss of security and without increasing the volume of the block. In turn, such a two-level blockchain is of the greatest interest for the creation of a cascade system of state registers, which will be guaranteed to be protected against the substitution and forgery of documents. The main results of the work are explicit analytical expressions for estimates of probability of double spend attack on such two-level blockchain, under the condition of adversary in sidechain and in mainchain. Keywords: blockchain, mainchain, sidechain, cryptocurrencies, mining, Proof-of-Proof consensus protocol, double spend attack.

Maryna Utkina

This article examines the current state of financial monitoring as a tool for combating and preventing money laundering and corruption. The use of blockchain technology is becoming increasingly prevalent in the field of financial monitoring for legal compliance. It offers a range of benefits, including improved accuracy, transparency, and security in tracking financial transactions. However, its adoption also poses several challenges, such as data privacy concerns, regulatory compliance, and the need for skilled personnel to operate and maintain these systems. This article explores the opportunities and challenges of leveraging blockchain technology to enhance legal compliance and financial monitoring. It also examines its key features and potential applications in financial monitoring. With the increasing adoption of this technology, the financial monitoring landscape is set to transform in the coming years, paving the way for a more efficient and effective way to combat and prevent money laundering and corruption.

V. N. Fedorenko, ОЛЕКСАНДР ПАСІЧНИК, ТЕТЯНА СКРИПНИК, Eduard Manziuk

Ensuring data integrity is quite relevant in an increasingly important world, and this is no coincidence. Registration of real estate is a key element of the functioning of society, as it affects legal relations, the financial condition of citizens, and has a significant impact on the country`s economy as a whole. Blockchain technology is based on the creation of two lists of data, where individual elements, known as blocks, are linked together in a chain using cryptography. One of the key features of the blockchain is its open and decentralized data storage. This means that any user can check the transaction history or data stored on the blockchain without having to rely on an intermediary. This transparent access to information make blockchain particularly useful for financial transactions, where reliability and trust are important. For many people, blockchain is primarily associated with cryptocurrencies such as Bitcoin. It is used to secure financial transactions and store transaction history. However, this technology is not only used in the financial sector. Blockchain can be used to process virtually any data of great value, including medical records, supply chain management systems, vote transformation during elections, and many other applications. Blockchain is an innovative technology that is actively used in various, industries, such as economics, finance, medicine, legal and others. However, the use of blockchain and smart contracts in the real estate sector is still insufficiently researched. This study examines the advantages and disadvantages of using blockchain and smart contracts, and propose a secure system for concluding real estate transactions using these technologies. Blockchain provides, the ability to create secure and reliable records of property ownership, transaction, and history. Each data block in the blockchain contains information about a specific property and all transactions related to it. This information is confirmed by the user network and remains unchanged, which guarantees the historical accuracy and reliability of the data.

Authors unavailable

Blockchain architecture is based on distributed and decentralised technology used to store transaction records in blocks [1].These blocks are linked to each other based on the value of the hash address (previous hash) generated through a cryptographic mechanism [2].Blockchain technology has developed as an open ledger to record transactions in a distributed manner.New blocks will be created after the mining process is complete through the protocol consensus that requires each peer to verify transactions [3][4][5].

Geet Kiran Kaur, Lakshit Kumawat, Sanjay Singla, Harmeet Singh · 6 authors

This study delves deeply into the security features and architectural design nuances of blockchain-based smart contracts. The study delves into the essential elements of blockchain networks, such as distributed ledgers and consensus mechanisms, before guiding readers through the intricacies of the top platforms for developing smart contracts. It analyses the architectural characteristics, programming languages, and developer tools of different platforms and makes comparisons between them. Examined are security issues with smart contracts, pointing out flaws like as reentrancy attacks and suggesting countermeasures. Along with talks of interoperability problems and new solutions, the study also tackles scalability challenges in blockchain networks and smart contracts. Best practices for integrating smart contracts in decentralized systems, formal verification procedures, and privacy-preserving smart contract implementation strategies are examined. The article also addresses energy efficiency issues in blockchain networks and suggests sustainable solutions. The study attempts to provide a thorough understanding of the technical and security aspects surrounding blockchain-based smart contracts, concluding with insights into future trends, such as the integration of artificial intelligence and quantum-resistant cryptography.

Sarthak A. Chaudhari, Nilesh B. Ahire, Varunraje J. Jagtap, Prathamesh S. Shinde · 5 authors

The brand-new field of study known as “CSs” brings together technical and physical systems to provide services to business companies. This is due to the fact that they are susceptible to a diverse selection of cyberattacks in IIOT, any one of which may put their ability to continue delivering services to companies. It is difficult to collect all of the data required to develop an intelligent Network Intrusion Detection System (NIDS) that is capable of precisely recognising assaults that are now taking place as well as those that may take place in the future. Utilising this approach allows for the examination and acquisition of knowledge about the data that is included inside TCP/IP packets. This work presents a technique for discovering anomalies in IICSs that is based on Blockchain models, which can train and assess themselves using information gained from TCP/IP packets. The approach was developed by the authors of this research. This treatment is being distributed as a reaction to the findings that the inquiry uncovered. Both the well-known datasets from the UNSW-NB15 network and the Knowledge Discovery in Databases (NSL-KDD) resource are used in the process that is being described here. Both of these materials may be found in the Networked Systems Lab here at the university. This demonstrates that it is acceptable for employment in real-world IICS situations.

Anzhi Chen, Zigan Wang, Mengxin Yang

We present a comprehensive analysis of the profitability of technical trading strategies that were successful within the sample period for the cryptocurrency pairs BTC/USDT and ETH/USDT. The study covers the time period from August 2017 to October 2023 and employs rigorous data snooping tests including reality checks and stepwise tests. This approach ensures that any positive results obtained are not merely coincidental, but instead reflect the intrinsic value of the method. Our results indicate that the previously profitable technical approaches, observed prior to December 2021, generally failed to generate profits during the subsequent out-of-sample period, especially after adjusting for potential data snooping. Based on the results, it is recommended to exercise caution when relying solely on historically profitable trading strategies and advisable for investors and practitioners to validate the performance of such strategies in real-time market conditions before implementing them. The findings of the study highlight the difficulty of identifying profitable technical trading strategies in an out-of-sample context when only data from the in-sample period are available, which lends support to the efficient market hypothesis within the cryptocurrency market.

Vandana Sharma, Prerna Ajmani, Celestine Iwendi

The term blockchain was coined in 2008 by Satoshi Nakamoto. Initially, it was used for carrying out decentralised transactions to solve the problem of fake transactions. In the past few years, this was explored extensively for cryptocurrency only, but, over some time, its potential has been explored in many areas. The major reason for the growing interest in this particular technology is that it provides a secure, reliable, and trusted platform to perform digital activities. This is executed without the involvement of any third party. Once the data is entered into the nodes, it is impossible to tamper it. Though blockchain is costly, it provides better solutions to many research problems in real time. In recent times, researchers have explored blockchain in deep and used it in many applications such as building smart contracts, supply chain management, digital identity providers, voting systems, banking, and finance applications, P2P learning, and insurance sectors. Through this chapter, the readers will get a systematic and detailed study of blockchain in the insurance sector and smart contracts and its current applications in the insurance sector. This chapter will also provide a fair idea of blockchain technology in the insurance sector and additionally its usage in specific applications. In the end, a relevant set of further reading references will be provided.

Yaping Li, Zhou Wei-liang

The study focuses on developing a smart contract framework for the sharing of government big data in the context of “ckchain + government big data." The unique characteristics of government big data sharing are taken into consideration during the modeling process. The analysis of the smart contract's operational mechanism for "blockchain + government big data" sharing encompasses various aspects, including contract generation, deployment, and invocation. Furthermore, the research investigates the key challenges associated with cross-chain sharing of government big data. Building upon this analysis, the framework and operational mechanism of a smart contract for cross-chain sharing of government big data are examined within the specific scenario of cross-chain sharing. Consequently, valuable recommendations are proposed to facilitate the open sharing and controlled utilization of government big data within the blockchain context.

Evgeny A. Basinya, MEPhl", , Moscow, 115409, Russian Federation, N. Karapetyants · 5 authors

The lack of a user identification system and the existence of a variety of ways to obfuscate a transaction on the Bitcoin network is of great interest to attackers and can be used by them to conduct illegal activities. There is a need to develop new methods of cash identification in the Bitcoin network. The purpose of this work is to develop a method of transaction verification in the Bitcoin network to improve the efficiency of the process of identification of illegally obtained funds and their sources. The work solves the following tasks: the development of a method for transaction verification in the Bitcoin network and the development of a decision support system, which includes the proposed method. The article describes each of the stages of the method: collection, aggregation, processing and analysis of information. The information analysis stage proposes a clustering method that takes into account an extended set of empirical rules (heuristics) of transaction analysis, as well as information about Bitcoin network address owners. The scientific novelty lies in increasing the efficiency of the identification process of illegally obtained funds and their sources through a comprehensive analysis of transactions, including the extended collection of information and its subsequent aggregation in the multi-model database of the decision support system. In contrast to existing methods, the reliability of the identification of Bitcoin network subjects is increased through the use of intelligent methods of data analysis. The results of this work will provide an opportunity to develop new and improve existing transaction analysis tools in future research, which will allow more effective identification of funds in the Bitcoin network associated with illegal activities.

С. С. Гончаров, Andrey Nechesov

This paper explores the issues of building digital twins for smart cities, which can be controlled manually or with the assistance of intelligent systems. For these purposes, a specialized logic platform, Delta, is being built, which has such properties as transparency, reliability, and predictability. The Delta platform allows us to represent the digital twins of cities as a network of smart contracts that interact with each other within a unified multi-blockchain system. The inclusion of Delta-learning and Delta-connection modules facilitates knowledge acquisition and utilization for AI-driven process management and sensor integration within smart cities.

Nazarov Fayzullo Makhmadiyarovich, Yarmatov Sherzodjon

This article examines directions and mechanisms for increasing data reliability in computer networks. Currently, the rapid development of information technologies, the rapid growth of data flow, high-quality data processing carried out in network technologies, and the increase in the volume of data lead to an increase in the problem of data reliability. It is an urgent issue to find solutions based on the use of modern technologies to solve these problems. The simultaneous processing of various types of data in information systems, video, audio, text and digital data, creates big data. The variety of data types in bigdata creates the problem of quality data processing, which greatly affects the reliability of the data. Research shows that breaches of data integrity mainly manifest in three directions. In this case, there is a violation of the reliability of interrelated data in data transmission and storage, in the processing of large volumes of data and in the transcription of video data. It is created due to errors created during data transmission based on artificial and natural redundancy. To solve the mentioned problems , increasing data reliability based on blockchain mechanisms for payment systems in data transmission, increasing data reliability based on error minimization mechanisms in video information systems, and distributed computing and parallel mechanisms in large-scale information systems based on methods of increasing data reliability are researched.

D.T. Muhamediyeva, A.N. Khudoyberdiev, Javokhir Abdurazzokov

The article discusses the problems of developing distributed ledger systems, which is a new approach to creating databases, the key feature of which is the absence of a single control center. Each node compiles and writes registry updates independently of the other nodes. Unlike distributed databases, each participant in a distributed ledger system stores the entire history of changes and validates the addition of any changes to the system using a consensus algorithm, which mathematically guarantees that data cannot be forged.

Andrii Pasarar, Svetlana Antoshchuk, Viktor Boltenkov

Smart contracts on the Ethereum platform provide a powerful tool for running decentralized applications. However, the efficiency of smart contracts execution is closely related to gas costs in the Ethereum network. This paper explores the relationship between the complexity of sorting algorithms and their gas consumption when executed in smart contracts. The paper includes an analysis of six major sorting algorithms implemented in smart contracts and a comparison of their performance in terms of gas costs. Experiments have been carried out with different input sizes and we are evaluating the impact of input size on gas consumption. The results of the paper allow us to better understand which sorting algorithms are optimal for use in smart contracts, given the limitations on gas costs. This research has practical implications for smart contract developers in helping them choose the most efficient algorithms given their execution costs.

Evgeny A. Basinya, Nikolay Karapetyants, M. Karapetyants

Today, the Bitcoin network faces a number of challenges, such as flawed user identification and fraudulent transaction methods that are used by criminals to conduct illegal activities. As a result, there is a growing need to improve existing tools for tracking transactions, as well as to develop new methods for identifying money in the Bitcoin network. The paper presents a study and systematization of the subject area problems, and also considers possible approaches to neutralize it. The purpose of this work is to analyze the existing methods of transaction verification of the Bitcoin network. Within the framework of the work, a system architecture is proposed, which includes a comprehensive approach to the process of transaction analysis. Each of the stages of this process is described: information gathering, aggregation, processing and analysis. An extended set of empirical rules (heuristics) for transaction analysis, which are used in existing clustering methods, is considered. The results of this work will provide an opportunity to improve the existing Bitcoin transaction verification methods and develop a new one with the possibility of increasing the efficiency of the process of identification of illegally obtained funds and their sources.

Yu. A. Altynov

Purpose: of the study is to identify promising areas for the use of metaverse technologies in the field of public finance in Russia in the context of the current sanctions restrictions and considering the peculiarities of the national budget system. Methods: the research uses such general scientific methods as literature review, comparative analysis, generalization and analysis of factual data. The work uses the method of constructing block diagrams that describe the key relationships of objects and related business processes to illustrate the proposed innovations. Results: the main results of the study include: 1) proposals for further digitalization of public and socially significant services using VR / AR technologies; 2) a scheme for integrating distributed ledger technologies (based on blockchain) into the treasury budget service system; 3) guidelines for the use of smart contract technologies in the field of public procurement, considering exclusive and inclusive access. Conclusions and Relevance: most of the current government information systems are based on traditional relational databases, which have technological limitations compared to modern distributed ledger technologies. At the same time, the development of the sphere of public finance in the context of the digital transformation of economic relations and the active spread of metauniverses requires continuous updating of the technological infrastructure. The study made it possible to conclude that the technological capabilities of the metaverses cover the current needs for the digital transformation of public finances. In addition, for the Russian public finance sector, the current metaverse tools can be assessed as a factor in further digital development under the current sanctions restrictions.

Δαμιανός Π. Σακάς, Nikolaos T. Giannakopoulos, Marina C. Terzi, Νίκος Κανέλλος · 5 authors

Emerging technologies in the digital context can favor industrial sector firms in their aim to improve their performance. Digitalization is mainly expressed through the utilization of big data that originate from various sources. Blockchain technology has led to the extended adoption of capitalization of Decentralized Finance (DeFi) services, such as cryptocurrency trade platforms. Supply chain firms, in their quest to exploit any means and collaborations available to promote their services, could place advertisements on DeFi’s social media profiles to boost their financial performance. Social media analytics, as a part of the big data family, are an emerging tool for promoting a firm’s digital transformation, based on the plethora of customer behavioral data they provide. This study aims to examine whether the social media analytics of DeFi platforms are capable of affecting their website visibility, as well as the financial performance of supply chain firms. To do so, the authors collected data from the social media profiles of the most-known DeFi platforms and web analytics from the most significant supply chain firms’ websites. For this purpose, proper statistical analysis, Fuzzy Cognitive Mapping, Hybrid Modeling, and Cognitive Neuromarketing models were adopted. Throughout the present research, it has been discerned that from an increase in the social media analytics of DeFi platforms, their website visibility increases, while the organic and paid traffic costs of supply chain firms decrease. Supply chain firms’ website customers tend to increase at the same time.

Tetiana Наikova, Mykola Мoroz, Volodymyr Zahorianskyi, Yurii Burіennikov

Most often, the possibilities of the applied digital technologies / tools are not used to their full extent, which is due to either the insufficient level of knowledge and competencies of the staff, or the complexity of the technical program implementation. At the same time, the methodology of digital transformation itself, especially in relation to logistics and supply chain management (SCM), is insufficiently developed, despite the existing works of foreign and domestic specialists in this field. The results of the analysis show the relevance and urgent need for the development of conceptual technological platforms of digital solutions for logistics services in supply chain management at the stage of using artificial intelligence and blockchain technology. A study was conducted on the possibility of using promising digital technologies in logistics and ULP, in particular Blockchain (distributed ledger systems), Cloud Services (cloud services), Augmented/Virtual Reality (AR/VR) (augmented / virtual reality), Big Data (big data analytics), Predictive Analytics, Industry 4.0 (Robots) and the Internet of Thing. The very procedure of digital transformation of supply chains should include a number of project solutions related to the formation of a communication network structure (Multi Party Net-work), in particular, using blockchain technology, an integrated supply chain planning system, as well as a digital platform for controlling and monitoring events in the chain supplies (Supply Chain Control Tower). Warehouse logistics is an industry that actively implements innovations. To work in the warehouse, special robots with the prefix AGV (literally – automatically controlled vehicle) are used. A project analysis is being conducted on the development of unmanned trucks using the existing developments of unmanned technologies of domestic car manufacturers and prototypes of unmanned cargo vehicles. The necessity of researching the prospects of robotization of warehouse operations and the use of unmanned vehicles (drones and trucks without drivers) in the distribution / delivery of Final Mile Logistics is shown.

Sven Skender

Tehnologija lanca blokova transformirala je područje digitalnih valuta omogućivši decentralizirane transakcije i riješivši problem dvostruke potrošnje. Transparentna i decentralizirana priroda lanca blokova ima potencijal donijeti značajne promjene u industrijama kao što su upravljanje opskrbnim lancem, decentralizirane financije, zdravstvo, državne službe i prava intelektualnog vlasništva. U području humanitarnoga razminiranja osigurava pouzdanost i sigurnost podataka koji mogu dolaziti iz raznih izvora. Kako bi se olakšala integracija s Cardano čvorom, razvijeno je programsko rješenje koje omogućuje stvaranje nezamjenjivih tokena na Cardano lancu blokova. Takvo rješenje služi kao posrednik između drugih aplikacija i Cardano lanca blokova te pojednostavljuje složene transakcijske procese i kriptografske potpise. Kako bi se osigurala kompatibilnost, sigurnost, skalabilnost i učinkovitost korištenja resursa, aplikacija je zapakirana u Docker kontejner. Utjecaj lanca blokova obuhvaća više sektora, nudeći decentralizirana i transparentna rješenja koja potiču inovacije i poboljšavaju operativnu učinkovitost.