Massimo La Morgia, Alessandro Mei, Francesco Sassi, Julinda Stefa
Cryptocurrencies are increasingly popular. Even people who are not experts have started to invest in these assets, and nowadays, cryptocurrency exchanges process transactions for over 100 billion US dollars per month. Despite this, many cryptocurrencies have low liquidity and are highly prone to market manipulation. This paper performs an in-depth analysis of two market manipulations organized by communities over the Internet: The pump and dump and the crowd pump. The pump and dump scheme is a fraud as old as the stock market. Now, it has new vitality in the loosely regulated market of cryptocurrencies. Groups of highly coordinated people systematically arrange this scam, usually on Telegram and Discord. We monitored these groups for more than 3 years, detecting around 900 individual events. We report on three case studies related to pump and dump groups. We leverage our unique dataset of the verified pump and dumps to build a machine learning model able to detect a pump and dump in 25 seconds from the moment it starts, achieving the results of 94.5% of F1-score. Then, we move on to the crowd pump, a new phenomenon that hit the news in the first months of 2021, when a Reddit community inflated the price of the GameStop stocks (GME) by over 1,900% on Wall Street, the world’s largest stock exchange. Later, other Reddit communities replicated the operation on the cryptocurrency markets. The targets were DogeCoin (DOGE) and Ripple (XRP). We reconstruct how these operations developed and discuss differences and analogies with the standard pump and dump. We believe this study helps understand a widespread phenomenon affecting cryptocurrency markets. The detection algorithms we develop effectively detect these events in real-time and helps investors stay out of the market when these frauds are in action.
Plenty of research on smart mobility is currently devoted to the inclusion of novel decentralized software architectures to these systems, due to the inherent advantages in terms of transparency, traceability, trustworthiness. MOVO is a decentralized application (dApp) for smart mobility. It includes: (i) a module for collecting data from vehicles and smartphones sensors; (ii) a component for interacting with Distributed Ledger Technologies (DLT) and Decentralized File Storages (DFS), for storing and validating sensor data; (iii) a module for "offline" interaction between devices. The dApp consists of an Android application intended for use inside a vehicle, which helps the user/driver collect contextually generated data (e.g. a driver's stress level, an electric vehicle's battery level), which can then be shared through the use of DLT (i.e., IOTA DLT and Ethereum smart contracts) and DFS (i.e., IPFS). The third module consists of an implementation of a communication channel that, via Wi-Fi Direct, allows two devices to exchange data and payment information with respect to DLT (i.e. cryptocurrency and token) assets. In this paper, we describe the main software components and provide an experimental evaluation that confirms the viability of the MOVO dApp in real mobility scenarios.
Quantum computation represents a threat to many cryptographic protocols in operation today. It has been estimated that by 2035, there will exist a quantum computer capable of breaking the vital cryptographic scheme RSA2048. Blockchain technologies rely on cryptographic protocols for many of their essential sub-routines. Some of these protocols, but not all, are open to quantum attacks. Here we analyze the major blockchain-based cryptocurrencies deployed today -- including Bitcoin, Ethereum, Litecoin and ZCash, and determine their risk exposure to quantum attacks. We finish with a comparative analysis of the studied cryptocurrencies and their underlying blockchain technologies and their relative levels of vulnerability to quantum attacks.
Maha Filali Rotbi, Saad Motahhir, Abdelaziz El Ghzizal
In late 2019, we witnessed the apparition of the covid-19 virus. The virus appeared first in Wuhan, and due to people travel was spread worldwide. Exponential spread as well as high mortality rates, the two characteristics of the SARS-CoV-2 virus that pushed the entire world into a global lock-down. Health and economic crisis, along with social distancing have put the globe in a highly challenging situation. Unprecedented pressure on the health care system exposed many loopholes not only in this industry but many other sectors, which resulted in a set of new challenges that researchers and scientists among others must face. In all these circumstances, we could attend, in a surprisingly short amount of time, the creation of multiple vaccine candidates. The vaccines were clinically tested and approved, which brought us to the phase of vaccination. Safety, security, transparency, and traceability are highly required in this context. As a contribution to assure an efficient vaccination campaign, in this paper we suggest a Blockchain-based system to manage the registration, storage, and distribution of the vaccines. This manuscript has been presented as preprint in Blockchain technology for a Safe and Transparent Covid-19 Vaccination: https://arxiv.org/abs/2104.05428
Seham A. Alansari, Mahmoud M. Badr, Mohamed Mahmoud, Waleed Alasmary · 6 authors
Contact tracing is a very effective way to control the COVID-19-like pandemics. It aims to identify individuals who closely contacted an infected person during the incubation period of the virus and notify them to quarantine. However, the existing systems suffer from privacy, security, and efficiency issues. To address these limitations, in this article, we propose an efficient and privacy-preserving Blockchain-based infection control system. Instead of depending on a single authority to run the system, a group of health authorities, that form a consortium Blockchain, run our system. Using Blockchain technology not only secures our system against single point of failure and denial of service attacks, but also brings transparency because all transactions can be validated by different parties. Although contact tracing is important, it is not enough to effectively control an infection. Thus, unlike most of the existing systems that focus only on contact tracing, our system consists of three integrated subsystems, including contact tracing, public places access control, and safe-places recommendation. The access control subsystem prevents infected people from visiting public places to prevent spreading the virus, and the recommendation subsystem categorizes zones based on the infection level so that people can avoid visiting contaminated zones. Our analysis demonstrates that our system is secure and preserves the privacy of the users against identification, social graph disclosure, and tracking attacks, while thwarting false reporting (or panic) attacks. Moreover, our extensive performance evaluations demonstrate the scalability of our system (which is desirable in pandemics) due to its low communication, computation, and storage overheads.
Iain Barclay, Michael Cooper, Alun Preece, Omer Rana · 5 authors
Transport makes an impact across SDGs, encompassing climate change, health, inequality and sustainability. It is also an area in which individuals are able to make decisions which have potential to collectively contribute to significant and wide-ranging benefits. Governments and authorities need citizens to make changes towards adopting sustainable transport behaviours and behaviour change interventions are being used as tools to foster changes in travel choices, towards more sustainable modes. Blockchain technology has the potential to bring new levels of scale to transport behaviour change interventions, but a rigorous approach to token design is required. This paper uses a survey of research projects and use cases to analyse current applications of blockchain technology in transport behaviour change interventions, and identifies barriers and limitations to achieving targeted change at scale. The paper draws upon these findings to outline a research agenda that brings a focus on correlating specific Behaviour Change Techniques (BCTs) to token design, and defines processes for standardising token designs in behaviour change tools. The paper further outlines architecture and operational considerations for blockchain-based platforms in behaviour change interventions, such that design choices do not compromise opportunities or wider environmental goals.
The Internet of Value (IOV) with its distributed ledger technology (DLT) underpinning has created new forms of lending markets. As an integral part of the decentralised finance (DeFi) ecosystem, lending protocols are gaining tremendous traction, holding an aggregate liquidity supply of over $40 billion at the time of writing. In this paper, we enumerate the challenges of traditional money markets led by banks and lending platforms, and present advantageous characteristics of DeFi lending protocols that might help resolve deep-rooted issues in the conventional lending environment. With the examples of Maker, Compound and Aave, we describe in detail the mechanism of DeFi lending protocols. We discuss the persisting reliance of DeFi lending on the traditional financial system, and conclude with the outlook of the lending market in the IOV era.
Tahmid Hasan Pranto, Abdulla All Noman, Atik Mahmud, AKM Bahalul Haque
The agricultural sector is still lagging behind from all other sectors in terms of using the newest technologies. For production, the latest machines are being introduced and adopted. However, pre-harvest and post-harvest processing are still done by following traditional methodologies while tracing, storing, and publishing agricultural data. As a result, farmers are not getting deserved payment, consumers are not getting enough information before buying their product, and intermediate person/processors are increasing retail prices. Using blockchain, smart contracts, and IoT devices, we can fully automate the process while establishing absolute trust among all these parties. In this research, we explored the different aspects of using blockchain and smart contracts with the integration of IoT devices in pre-harvesting and post-harvesting segments of agriculture. We proposed a system that uses blockchain as the backbone while IoT devices collect data from the field level, and smart contracts regulate the interaction among all these contributing parties. The system implementation has been shown in diagrams and with proper explanations. Gas costs of every operation have also been attached for a better understanding of the costs. We also analyzed the system in terms of challenges and advantages. The overall impact of this research was to show the immutable, available, transparent, and robustly secure characteristics of blockchain in the field of agriculture while also emphasizing the vigorous mechanism that the collaboration of blockchain, smart contract, and IoT presents.
Evidence destruction and tempering is a time-tested tactic to protect the powerful perpetrators, criminals, and corrupt officials. Countries where law enforcing institutions and judicial system can be comprised, and evidence destroyed or tampered, ordinary citizens feel disengaged with the investigation or prosecution process, and in some instances, intimidated due to the vulnerability to exposure and retribution. Using Distributed Ledger Technologies (DLT), such as blockchain, as the underpinning technology, here we propose a conceptual model - 'EvidenceChain', through which citizens can anonymously upload digital evidence, having assurance that the integrity of the evidence will be preserved in an immutable and indestructible manner. Person uploading the evidence can anonymously share it with investigating authorities or openly with public, if coerced by the perpetrators or authorities. Transferring the ownership of evidence from authority to ordinary citizen, and custodianship of evidence from susceptible centralized repository to an immutable and indestructible distributed repository, can cause a paradigm shift of power that not only can minimize spoliation of evidence but human rights abuse too. Here the conceptual model was theoretically tested against some high-profile spoliation of evidence cases from four South Asian developing countries that often rank high in global corruption index and low in human rights index.
In response to the COVID-19 pandemic, Bluetooth-based contact tracing has been deployed in many countries with the help of the developers of smartphone operating systems that provide APIs for privacy-preserving exposure notification. However, it has been assumed by the design that the OS developers, smartphone vendors, or governments will not violate people's privacy. We propose a privacy-preserving exposure notification under situations where none of the middle entities can be trusted. We believe that it can be achieved with small changes to the existing mechanism: random numbers are generated on the application side instead of the OS, and the positive test results are reported to a public ledger (e.g. blockchain) rather than to a government server, with endorsements from the medical institutes with blind signatures. We also discuss how to incentivize the peer-to-peer maintenance of the public ledger if it should be newly built. We show that the level of verifiability is much higher with our proposed design if a consumer group were to verify the privacy protections of the deployed systems. We believe that this will allow for safer contact tracing, and contribute to healthier lifestyles for citizens who may want to or have to go out under pandemic situations.
To achieve lightweight selective disclosure for protecting privacy of document holders, we propose an XML format for documents that can hide arbitrary elements using a cryptographic hash function and salts, which allows to be partially digitally signed and efficiently verified, as well as a JSON format that can be converted to such XML. The documents can be efficiently proven to exist by representing multiple such structures as a Merkle tree and storing its root in blockchain. We show that our proposal has advantages over known methods that represent the document itself as a Merkle tree and partially hide it.
The tourism industry is increasingly influenced by the evolution of information and communication technologies (ICT), which are revolutionizing the way people travel. In this work we want to investigate the use of innovative IT technologies by DMOs (Destination Management Organizations), focusing on blockchain technology, both from the point of view of research in the field, and in the study of the most relevant software projects. In particular, we intend to verify the benefits offered by these IT tools in the management and monitoring of a destination, without forgetting the implications for the other stakeholders involved. These technologies, in fact, can offer a wide range of services that can be useful throughout the life cycle of the destination.
It is said that blockchain will contribute to the digital transformation of society in a wide range of ways, from the management of public and private documents to the traceability in various industries, as well as digital currencies. A number of so-called blockchain platforms have been developed, and experiments and applications have been carried out on them. But are these platforms really conducive to practical use of the blockchain concept? To answer the question, we need to better understand what the technology called blockchain really is. We need to sort out the confusion we see in understanding what blockchain was invented for and what it means. We also need to clarify the structure of its applications. This document provides a generic model of understanding blockchain and its applications. We introduce design patterns to classify the platforms. We categorize possible use cases by identifying the structure among applications, and organize the functional, performance, operational and legal requirements for each such case. Based on the categorization and criteria, we evaluated and compared the following platforms: Hyperledger Fabric, Hyperledger Iroha, Hyperledger Indy, Ethereum, Quorum/Hyperledger Besu, Ethereum 2.0, Polkadot, Corda and BBc-1. We have tried to be fair in our evaluations and comparisons, but we also expect to provoke discussion. The intended readers for this document is anyone involved in development of application systems who wants to understand blockchain and their platforms, including non-engineers and non-technologists. The assessments in this document will allow readers to understand the technological requirements for the blockchain platforms, to question existing technologies, and to choose the appropriate platforms for the applications they envision. The comparisons hopefully will also be useful as a guide for designing new technologies.
Bin Wang, Han Liu, Chao Liu, Zhiqiang Yang · 7 authors
Decentralized finance, i.e., DeFi, has become the most popular type of application on many public blockchains (e.g., Ethereum) in recent years. Compared to the traditional finance, DeFi allows customers to flexibly participate in diverse blockchain financial services (e.g., lending, borrowing, collateralizing, exchanging etc.) via smart contracts at a relatively low cost of trust. However, the open nature of DeFi inevitably introduces a large attack surface, which is a severe threat to the security of participants funds. In this paper, we proposed BLOCKEYE, a real-time attack detection system for DeFi projects on the Ethereum blockchain. Key capabilities provided by BLOCKEYE are twofold: (1) Potentially vulnerable DeFi projects are identified based on an automatic security analysis process, which performs symbolic reasoning on the data flow of important service states, e.g., asset price, and checks whether they can be externally manipulated. (2) Then, a transaction monitor is installed offchain for a vulnerable DeFi project. Transactions sent not only to that project but other associated projects as well are collected for further security analysis. A potential attack is flagged if a violation is detected on a critical invariant configured in BLOCKEYE, e.g., Benefit is achieved within a very short time and way much bigger than the cost. We applied BLOCKEYE in several popular DeFi projects and managed to discover potential security attacks that are unreported before. A video of BLOCKEYE is available at https://youtu.be/7DjsWBLdlQU.
Jiali Xing, David Fischer, Nitya Labh, Ryan Piersma · 8 authors
In this paper, we present Talaria, a novel permissioned blockchain simulator that supports numerous protocols and use cases, most notably in supply chain management. Talaria extends the capability of BlockSim, an existing blockchain simulator, to include permissioned blockchains and serves as a foundation for further private blockchain assessment. Talaria is designed with both practical Byzantine Fault Tolerance (pBFT) and simplified version of Proof-of-Authority consensus protocols, but can be revised to include other permissioned protocols within its modular framework. Moreover, Talaria is able to simulate different types of malicious authorities and a variable daily transaction load at each node. In using Talaria, business practitioners and policy planners have an opportunity to measure, evaluate, and adapt a range of blockchain solutions for commercial operations.
Ana Fernández Vilas, Rebeca P. Dı́az Redondo, Daniel Couto Cancela, Alejandro Torrado Pazos
Cryptocurrencies are a type of digital money meant to provide security and anonymity while using cryptography techniques. Although cryptocurrencies represent a breakthrough and provide some important benefits, their usage poses some risks that are a result of the lack of supervising institutions and transparency. Because disinformation and volatility is discouraging for personal investors, cryptocurrencies emerged hand-in-hand with the proliferation of online users’ communities and forums as places to share information that can alleviate users’ mistrust. This research focuses on the study of the interplay between these cryptocurrency forums and fluctuations in cryptocurrency values. In particular, the most popular cryptocurrency Bitcoin (BTC) and a related active discussion community, Bitcointalk, are analyzed. This study shows that the activity of Bitcointalk forum keeps a direct relationship with the trend in the values of BTC, therefore analysis of this interaction would be a perfect base to support personal investments in a non-regulated market and, to confirm whether cryptocurrency forums show evidences to detect abnormal behaviors in BTC values as well as to predict or estimate these values. The experiment highlights that forum data can explain specific events in the financial field. It also underlines the relevance of quotes (regular mechanism to response a post) at periods: (1) when there is a high concentration of posts around certain topics; (2) when peaks in the BTC price are observed; and, (3) when the BTC price gradually shifts downwards and users intend to sell.
Blockchain is a continuously developing technology that has made digital transactions and related computing operations more transparent and secure through globally distributed and decentralized management of states, as well as the strong immutability of blocks mined and transactions validated in a network enabled by the blockchain technology. This manuscript is aimed at elaborating the concept of blockchain technology alongside its coordination and implementation with other emerging technologies, such as smart contract, which works with different blockchain frameworks, as well as enabling anonymous transactions and decentralized consensus amongst different untrusting parties. The discussion of blockchain forks is also covered in this manuscript, depicting fork events created in the blockchain process, their brief history, types, and impacts upon the blockchain development and operation.
By design, distributed ledger technologies persist low-level data which makes conducting complex business analysis of the recorded operations challenging. Existing blockchain visualization and analytics tools such as block explorers tend to rely on this low-level data and complex interfacing to provide enriched level of analytics. The ability to derive richer analytics could be improved through the availability of a higher level abstraction of the data. This article proposes an abstraction layer architecture that enables the design of high-level analytics of distributed ledger systems and the decentralized applications that run on top. Based on the analysis of existing initiatives and identification of the relevant user requirements, this work aims to establish key insights and specifications to improve the auditability and intuitiveness of distributed ledger systems by leveraging the development of future user interfaces. To illustrate the benefits offered by the proposed abstraction layer architecture, a regulated sector use case is explored.
Transforming a vaccine concept into a real vaccine product is a complicated process and includes finding suitable antigens and regulatory, technical, and manufacturing obstacles. A relevant issue within this scope is the clinical trial process. Monitoring and ensuring the integrity of trial data using the traditional system is not always feasible. The search for a vaccine against the coronavirus SARS-CoV-2 illustrates this situation. The scientific credibility of findings from several vaccines' clinical trials contributed to distorted perceptions concerning the benefits and risks of the drug. This scenario is ideal for applying technologies such as Blockchain and Smart Contracts in healthcare issues. This paper proposes a protocol based on Smart Contracts, named VaccSC, to enable transparency, accounting, and confidentiality to Phase III of vaccine experiments. The protocol was implemented in Solidity language, and results show that the VaccSC enables double-blindness, randomization, and the auditability of clinical data, even in the presence of dishonest participants.
Boris Duedder, Vladislav Fomin, Tan Guerpinar, Michael Henke · 9 authors
In order to explore the practical potential and needs of interdisciplinary knowledge and competence requirements of Blockchain technology, the project activity "Development of Interdisciplinary Blockchain Skills Concept" starts with the literature review identifying the state of the art of Blockchain in Supply Chain Management and Logistics, Business and Finance, as well as Computer Science and IT-Security. The project activity further explores the academic and industry landscape of existing initiatives in education which offer Blockchain courses. Moreover, job descriptions and adverts are analyzed in order to specify today's competence requirements from enterprises. To discuss and define the future required competence, expert workshops are organized to validate the findings by academic experts. Based on the research outcome and validation, an interdisciplinary approach for Blockchain competence is developed. A second part focuses on the development of the Blockchain Best Practices activity while conducting qualitative empirical research based on case studies with industry representatives. Therefore, company interviews, based on the theoretical basis of Output 1, explore existing Blockchain use cases in different sectors. Due to the interdisciplinary importance of Blockchain technology, these skills will be defined by different perspectives of Blockchain from across multiple mentioned disciplines. The use cases and companies for the interviews will be selected based on various sampling criteria to gain results valid for a broad scale. The analysis of the various use cases will be conducted and defined in a standardized format to identify the key drivers and competence requirements for Blockchain technology applications and their adoption. On the one hand, this approach ensures comparability, on the other hand, it facilitates the development of a structured and systematic framework.
Boris Düdder, Haiqin Wu, Michael Henke, Natalia Straub · 9 authors
Blockchain is a challenging topic since it is novel and fosters potential innovation. The blockchain is attractive for various disciplines, and, because of its cross-cutting nature, needs knowledge stemming from various disciplines. The devised curriculum can be instantiated specifically to meet the needs of students' groups from various disciplines. The pedagogical innovation of the project is the inclusion of interdisciplinary project groups with participant's interaction via online platforms for project-based learning activities. MOOCs and SNOCs allow blended-learning for interdisciplinary and geographically distributed student groups.
A variety of innovative software solutions, addressing product anti-counterfeiting and record provenance of the wider supply chain industry, have been implemented. However, these solutions have been developed with centralized system architecture which could be susceptible to malicious modifications on states of product records and various potential security attacks leading to system failure and downtime. Blockchain technology has been enabling decentralized trust with a network of distributed peer nodes to maintain consistent shared states via a decentralized consensus reached, with which an idea of developing decentralized and reliable solutions has been basing on. A Decentralized NFC-Enabled Anti-Counterfeiting System (dNAS) was therefore proposed and developed, decentralizing a legacy anti-counterfeiting system of supply chain industry utilizing enterprise blockchain protocols and enterprise consortium, to facilitate trustworthy data provenance retrieval, verification and management, as well as strengthening capability of product anti-counterfeiting and traceability in supply chain industry. The adoption of enterprise blockchain protocols and implementations has been surging in supply chain industry given its advantages in scalability, governance and compatibility with existing supply chain systems and networks, but development and adoption of decentralized solutions could also impose additional implications to supply chain integrity, in terms of security, privacy and confidentiality. In this research, an empirical analysis performed against decentralized solutions, including dNAS, summarizes the effectiveness, limitations and future opportunities of developing decentralized solutions built around existing enterprise blockchain protocols and implementations for supply chain anti-counterfeiting and traceability.
The citizenship identities of a nation's occupants enable the state to identify and authenticate them unquestionably. These documents help individuals in recognizing themselves and to profit from the rights and advantages given to them by the legislature or the constitution of the land. There are problems in the traditional way of issuance f these identities and many hurdles that impede people from getting their benefits or exercising their rights. These paper-based identities can be forged easily and are hard to authenticate at various civil end points. There are reports of identity thefts. In this paper, we are discussing how Blockchain can be employed to overcome these problems and makes these identities confidential, immutable, and secured. Blockchain technology can help the governing bodies in maintaining and verifying these identities in a quick manner with less chance for human errors, meaning more reach for government plans and aid
Konstantinos Stylianou, Leonhard Spiegelberg, Maurice Herlihy, Nic Carter
When network products and services become more valuable as their userbase grows (network effects), this tendency can become a major determinant of how they compete with each other in the market and how the market is structured. Network effects are traditionally linked to high market concentration, early-mover advantages, and entry barriers, and in the cryptoasset market they have been used as a valuation tool too. The recent resurgence of Bitcoin has been partly attributed to network effects too. We study the existence of network effects in six cryptoassets from their inception to obtain a high-level overview of the application of network effects in the cryptoasset market. We show that contrary to the usual implications of network effects, they do not serve to concentrate the cryptoasset market, nor do they accord any one cryptoasset a definitive competitive advantage, nor are they consistent enough to be reliable valuation tools. Therefore, while network effects do occur in cryptoasset networks, they are not a defining feature of the cryptoasset market as a whole.