Blockchain Papers

Albina V. Pomogalova, Dmitriy Sazonov, E. A. Donskov, А.С. БОРОДИН · 5 authors

No abstract is available for this record.

Naveed ur Rehman, Max Yap, Mujaddad Afzal, Abdul Rehman · 5 authors

This paper presents a model for assessing the financial viability of cryptocurrency mining setups powered by off-grid solar photovoltaic (PV) systems. The model considers the features of mining hardware, the network attributes, the price of virtual currency and the solar potential of the installation site, to predict the payback period of the investment in months. As a case study, the feasibility of mining using various state-of-the-art Application-Specific Integrated Circuits (ASICs) and Graphics Processing Units (GPUs), powered by PV installed in New Zealand has been investigated. The results show that for ASICs setups, the initial cost is very high compared to GPU setups. However, considering the best-performing cryptocurrencies, the payback period for ASICs is much shorter than for GPU setups. This work will help to improve the sustainability of cryptocurrency mining businesses by reducing their dependence on exhaustible energy resources and their impact on the environment.

Yan Li

Bitcoin is considered a cryptocurrency and a digital currency, the two most notable characteristics are decentralization and anonymity. Bitcoin has a variety of properties. It could play not only the currency function but also have certain commodity property. To some extent, it can also be seen as an alternative investment option. The price of Bitcoin has stayed at a high level since 2021, but with greater volatility and more obvious amplitude than before. With the risk and potential problems of Bitcoin, the possibility of whether Bitcoin would lead to a big bubble in the financial market has increased. Although the legal status of Bitcoin is varying and having unclear or constantly changing definitions in different countries, the government is strengthening supervision and regulation over digital currency and planning to issue state-controlled currency, which would narrow the space for Bitcoin. Therefore, the possibility that Bitcoin will end up in a bubble is growing. At the same time, it is becoming increasingly clear that Bitcoin would not eventually gain legal tender status, driven by a combination of government denial and a lack of real value.

Soumya Soumya

Blockchain is one of the trending technology. It is a secured distributed public digital ledger that is programmed in order to record the information and keep it securely, the main purpose is to store the data securely and carry out the digital transactions safely. Blockchain technology use cryptography to achieve the security, where the data is encrypted. Blockchain is decentralized and distributed, brings the trust in the data, the data are collected in blocks and each block is connected with other block which makes it a chain hence it is known as blockchain. The main aim in Blockchain technology is to ensure the security to software used in technology, hence the testing phase plays an important role. Testing is mainly done to check block size, chain size, load, security, transaction of data, cryptographical data etc. The main objective of this paper is to ensure the importance of testing the Blockchain technology and different strategies used for testing to increase the security and trust of the technology.

Deepa Elangovan, Chiau Soon Long, Faizah Safina Bakrin, Ching Siang Tan · 10 authors

Hospital Information System (HIS) is a comprehensive, homogenized information system, whereas blockchain is normally defined as blocks joined together by using cryptographic secure hash function, which forms a chain that is time-stamped. The most important features or functions of blockchain technology are decentralized, distributed ledger, immutable, private, and agent of trust instead of centralized, hidden, exclusive, and alterable architecture. The objective of the initiation of HIS is to improve the quality of public healthcare services particularly in enhancing patient satisfactions and management of record. On the other hand, through blockchain technology, confidential and verified transactions can be carried out directly among third parties by mass collaboration. In this comparative review, the type of HIS and the purpose of HIS are presented. The advantages of HIS in terms of a reduction in transcription error and duplication of information entries as well as monitoring of drug usage are also discussed. On the other hand, disadvantages of HIS in terms of fragmented health data, insufficiency of financial sources, maintenance requirement by different departments, confidentiality issues, low acceptance level, technical and infrastructure issues, and system breakdown are elucidated. Meanwhile, the history of blockchain technology, fundamental properties of blockchain technology, and types of blockchain technology are also presented. Blockchain technology was found to be useful in the real healthcare environment, mainly on the management of electronic medical records, biomedical research and education, remote patient monitoring, pharmaceutical supply chain, health insurance claims, health data analytics, and some other potential areas. The need of blockchain technology and its advantages in healthcare sector such as patient data management, payments and reimbursement, drug and medical device traceability, medical research, regulatory procedure, and clinical trials are discussed. Disadvantages of blockchain technology in healthcare sector are also presented. The loss of key which is used to access information is a real threat in blockchain technology. Key is defined as a unique series of digits and characters in blockchain technology. Other issue that may arise from the application of blockchain technology in the future might be the lack of awareness and adoption. A shallow understanding regarding the blockchain technology and its mechanism will lead to problems in the development of blockchain technology in the future. Greater operation and development costs are needed in the blockchain technology in the healthcare sector, which will be defined by the government as well as the healthcare sector. The main reasons for the implementation of blockchain technology in the healthcare sector were identified, namely, data integrity, access control, data logging, data versioning, and non-repudiation. This review makes a comparison of the functions of blockchain technology and HIS in the real healthcare environment. An overall understanding on the usability of blockchain technology as well as HIS in healthcare sector is analyzed. This study will help other researchers and practitioners to gain better understanding of blockchain technology and HIS in the healthcare sector.

Haojun Huang, Jialin Tian, Geyong Min, Wang Miao

A blockchain is a distributed database or ledger that maintains an ever-growing list of data records in opposition to tampering and revision. It provides immutable data storage over a distributed network and supports a large number of encrypted and coded interactions, which improves the reliability of the entire network interaction system and reduces the need for trust. Even if some nodes in the blockchain are hacked and fail, the system can run as usual. (In such a scenario, users are enabled to form a distributed peer -to peer (P2P) network in which they could interact with each other in an efficient manner without a trusted intermediary). In addition to being famous for decentralization, blockchain has shown other significant characteristics during its development, such as reliability, anonymity, transparency, auditability and programming. According to the different degree of openness and coverage, the current blockchain can be classified into three categories: public blockchain, consortium blockchain and private blockchain. In this process, the evolution of blockchain has gone through three processes: blockchain 1.0, 2.0 and 3.0. Blockchain 1.0, known as digital currency stage, is strongly related with the decentralization and payment of cryptocurrencies. Blockchain 2.0, known as digital finance stage, introduces economic, financial and market applications by programming far from simple currency transactions. Among them, the most significant features of blockchain 2.0 are the introduction and application of smart contracts. Blockchain 3.0, known as digital society stage, provides decentralized solutions for a variety of industries beyond just financial scene.

Johannes Sedlmeir, Hans Ulrich Buhl, Gilbert Fridgen, Robert Keller

Zusammenfassung Der enorme Stromverbrauch von Bitcoin hat dazu geführt, dass in Wissenschaft und Praxis oft eher undifferenziert Diskussionen über die Nachhaltigkeit von Blockchain- bzw. Distributed-Ledger-Technologie allgemein geführt werden. Allerdings ist die Blockchain-Technologie bereits heute alles andere als homogen – nicht nur hinsichtlich ihrer Anwendungen, die mittlerweile weit über Kryptowährungen hinaus in Wirtschaft und öffentlichen Sektor reichen, sondern auch bezüglich ihrer technischen Charakteristika und insbesondere ihres Stromverbrauchs. Dieser Beitrag fasst den Status quo des Stromverbrauchs verschiedener Implementierungen von Blockchain-Technologie zusammen und geht dabei besonders auf das kürzlich erfolgte Bitcoin Halving sowie sogenannte ZK-Rollups ein. Wir argumentieren, dass Bitcoin und andere Proof-of-Work-Blockchains zwar in der Tat sehr viel Strom verbrauchen, aber bereits heute alternative Blockchain-Lösungen mit deutlich geringerem Stromverbrauch verfügbar sind und weitere vielversprechende Konzepte erprobt werden, die gerade den Stromverbrauch von großen Blockchain-Netzwerken in naher Zukunft noch einmal deutlich senken könnten. Daraus schließen wir, dass die Kritik am Stromverbrauch von Bitcoin zwar legitim ist, jedoch daraus nicht eine Energieproblematik von Blockchain-Technologie generell abgeleitet werden darf. In vielen Fällen, in denen mithilfe von energieeffizienteren Blockchain-Varianten Prozesse digitalisiert oder verbessert werden können, darf sogar per Saldo durchaus mit Energieeinsparungen gerechnet werden.

hiba almamoori, Huda Naji Nawaf

Abstract In this work, the issue of predicting the edge weight in Bitcoin network has been addressed by leveraging community structure that involves members who trust with each other in their transactions. The proposed model consists of two main stages; the first one is the detection of trusted Bitcoin communities by implementing Newman- Girvan algorithm. In the context, the attributes of node have been modeling in different ways to get different structure of communities each time. Secondly, prediction the missing edge weight based on the neighbors of edge-source in community. In other words, the trust values that pointed to edge-target by neighbors are averaged to represent the prediction of missing edge weight. Practically, the model has been evaluated using two real-world datasets; Bitcoin-OTC and Bitcoin-Alpha datasets. The experimental results explicate the effectiveness of the proposed model comparable with other methods, where the minimization percentage for Bitcoin-OTC dataset is 4% and 18% for all and partial edges respectively. As for Bitcoin-Alpha dataset are 0% and 30% for all and partial edges respectively.

Alan Hong, Caiping Sun, Meixuan Chen

With the prevalence of digital cryptocurrency and online transactions, the amount of data carried in cyberspace has been increasing rapidly. How to ensure the security and reliability of cyberspace data is a challenging problem. Blockchain has been widely recognized as a reliable technical solution for distributed data storage and sharing, and has attracted great attention from both industry and academia. This article first provides a brief introduction to the blockchain technology and distributed database systems, with a focus on the characteristics of decentralization and traceability. Then, it surveys the state-of-the-art work on blockchain-based distributed database systems, and compares these technologies. Afterwards, the application scenarios of blockchain-based distributed database systems are discussed. Finally, some promising research directions and suggestions focused on blockchain-based data storage are presented.

Jun Guo, Hongbo Zhou, Lan Yang, Xuhui Chen

As a decentralized network structure based on P2P network and with cryptography as its core, blockchain technology establishes trust relationship on the network by pure mathematical method without relying on intermediate platform. There are three problems in traditional digital copyright industry: difficult to confirm the rights, difficult to authorize rights and difficult to maintain rights. This paper makes a deep research on the blockchain technology of digital copyright. With the help of self-supervision, traceability and decentralization of blockchain technology, as well as the Map function, we can improve the data transmission rate in the multi-channel model and obtain accurate time complexity values. Hence the probability of all kinds of digital copyright infringement events is greatly reduced.

OUYANG Hengyi, XIONG Yan, HUANG Wenchao

To address the frequent security incidents of token smart contracts,this paper proposes a formal modeling and verification method based on integer overflow vulnerabilities of token smart contracts.The DAO and BEC vulnerability attacks are analyzed,and on this basis the security attributes of token smart contracts are defined.Then the method introduces global variables,numeric comparison and other constraints to extend the modeling language of token smart contracts,so as to enable it to support the formal representation of various statements of smart contracts.Finally,the idea of mathematical induction is used to optimize the model verification procedure of the SmartVerif tool in order to avoid infinite traversal of state space.Experimental results show that the proposed method can successfully find out the integer overflow vulnerabilities of token smart contracts,and has strong versatility.

Meikang Qiu, Xinxin Liu, Yiren Qi, Hui Zhao · 5 authors

The emergence of blockchain has attracted many researchers from various fields to use its distinctive features to solve different problems. One of the issues that can be mitigated is network security. Blockchain is a decentralized ledger without the control of a central authority. It tracks all transactions and registers them on the digital block. These blocks are immutable, immutable and distributed. This paper introduces the challenges facing network security and the opportunities for network security using blockchain.

Xiaoyu Liu, Xiaofu Liu, Zhenpeng Guo

Abstract Blockchain is the systematic integration innovation of distributed accounting, consensus mechanisms, point-to-point transmission, encryption algorithms, intelligent contracts and other technologies, providing a solution for information security and social trust in the Information Age. The principles, characteristics and deep thinking of Blockchain technology can promote thinking innovation and solve the existing obstacles, including the weak effectiveness of education activities, the burnout of education subjects and the lack of mutual trust in the field of ideological and political education. This paper focuses on analyzing the expanded application of Blockchain theory in ideological and political education. The fit of blockchain technology application of educational thinking innovation and value orientation is 0.928; there is a linear relationship, and after applying blockchain technology for one year, the difference between the students’ thinking tendencies and the six aspects of their performance, except for the desire for knowledge, is statistically significant (P<0.5) when compared with the situation of the students one year ago. In addition, it is emphasized that we should build Learn Ledger, promote the participation degree of education subjects, establish a new interactive trust mechanism and intensify endogenous incentives to promote the deep transformation of ideological and political education, enhance the effectiveness of educational content, expand the participation in educational activities, and strengthen the multi-subject trust-relationship reconstruction of ideological and political education.

Mengyi Xie, Zuobin Liao, Liting Huang

Blockchain is a distributed shared ledger and database. Because of its unforgeable, traceable, open, and transparent, and collective maintenance features, it has laid a solid foundation of “trust”. At the same time, the blockchain also brings hidden dangers of data security. How to protect the data security of digital currency in blockchain transactions is the direction of this article. This article first analyzes the basic structure of the blockchain, and then takes Bitcoin in the digital currency as an example to introduce its technical principles and implementation process. Finally, the PBFT algorithm is proposed, which can search for the application of encryption in the blockchain consensus mechanism. The experimental data verification proves the future application prospects of blockchain-based digital currency using PBFT algorithm to protect data security.

Vanja Šimičević, Višnja Jurić, Berislava Starešinić

Electronic money has evolved in one of the relevant ways to achieve electronic payment, that is, a form of payment with significantly lower online transactions.The idea for the development of the above has consolidated the segment of retaining all the favourable characteristics of cash while eliminating deficiencies.The paper purpose is to discuss the relevance of electronic money or alternative currencies, cryptocurrencies, and to present statistical processing the most 30 influential cryptocurrencies with an emphasis on the most popular cryptocurrency called Bitcoin.We elaborate on the main differences between the virtual currency and electronic money after we present the historical development of cryptocurrencies.In the end, we present the statistical and forecasting analysis of the most important cryptocurrencies.

Jinsu Kim, Namje Park

Artificial intelligence (AI) has a limitation in that it is only in the passive cognition area, so its operating process is not transparent; therefore, the technology relies on learning data. Since raw data for AI learning are processed and inspected manually to assure high quality for sophisticated AI learning, human errors are inevitable, and damaged and incomplete data and differences from the original data may lead to unexpected outputs of AI learning for which processed data are used. In this context, this research examines cases where AI learning data were inaccurate, in terms of cybersecurity, and the need for learning data management before machine learning through analysis of cybersecurity attack techniques, and we propose the direction of establishing a data-preserving AI system, which is a blockchain-based learning data environment model to verify the integrity of learning data. The data-preserving AI learning environment model is expected to prevent cyberattacks and data deterioration that may occur when data are provided and utilized in an open network for the processing and collection of raw data.

Jakov Buratović

U ovom radu su istražene osnove tehnologije distribuirane glavne knjige i najpoznatiji algoritmi konsenzusa koji mijenjaju centralni autoritet. Uspored̄ene su njihove prednosti i mane. U nastavku je uvod u Ethereum protokol i njegovu arhitekturu. Objašnjen je način provod̄enja transakcija i izvršavanja programskog koda na Ethereum virtualnom stroju. Najveći dio rada je usmjeren postavljanju privatne Ethereum mreže izmed̄u čvorova raznorodnog sklopovlja. Detaljno je opisan postupak izrade novčanika, provod̄enja transakcija, postavljanja i izvršavanja programskog koda pametnog ugovora na blockchain. Ispitani su zahtjevi procesa zaduženog za sudjelovanje u mreži na svakom čvoru.

Gulshan Kumar, Rahul Saha, William J. Buchanan, G. Geetha · 8 authors

A distributed and transparent ledger system is considered for various e-commerce products including health medicines, electronics, security appliances, food products and many more to ensure technological and e-commerce sustainability. This solution, named as 'PRODCHAIN', is a generic blockchain framework with lattice-based cryptographic processes for reducing the complexity for tracing the e-commerce products. Moreover, we have introduced a rating based consensus process called Proof of Accomplishment (PoA). The solution has been analyzed and experimental studies are performed on Ethereum network. The results are discussed in terms of latency and throughput which prove the efficiency of PRODCHAIN in e-commerce products and services. The presented solution is beneficial for improving the traceability of the products ensuring the social and financial sustainability. This work will help the researchers to gain knowledge about the blockchain implications for supply chain possibilities in future developments for society.

CHEN Liyan, RUI Tingxian, Lü Guangjin

For the construction of digital government,this paper proposes a privacy protection scheme for personal credit by combining smart contract and homomorphic encryption technology in blockchain.This scheme uses Paillier homomorphic encryption algorithm to set the blind reading permission of personal credit information access,so as to enable credit access users to create an automatic condition matching contract and make reasonable decisions when users cannot obtain the clear text of personal credit information.Under this scheme,the credit system cannot infer the access requirements of credit access users,so the privacy of personal credit information is protected from multiple perspectives.Analysis results show that the proposed scheme can effectively protect personal credit privacy with reduced running overhead and improved security.

Yann‐Jy Yang, Jiann-Chyau Hwang

Blockchain is essential for cryptocurrencies, but its use is not limited to cryptocurrency. Blockchain can be used in a wide range of applications. Recently, many blockchain inventions and applications have been proposed, which have received considerable attention from academics, industry practitioners, and the government. However, few studies have analyzed the development of blockchain technology. In this study, a patent analysis of the U.S. patents of blockchain was conducted. With an analysis of 335 patents awarded, a profile of recent blockchain technology development was obtained. The results indicated that three-quarters of the U.S. blockchain patents were originated in the United States. Half of the awarded U.S. patents are from foreign origin, and the proportion of the blockchain patent originated in the United States is more extensive, which revealed that the United States is a leader in the blockchain technology. Furthermore, 14% of blockchain patents were awarded to IBM, indicating that IBM as a technology giant in the blockchain technology. Additionally, word cloud and N-gram were used to reveal the relevant terms and phrases used in the abstracts of blockchain patents.

Swastik Das, Dr.Murali S

With this product, my objective was to make cryptocurrency investments simple & profitable. This product operates via an easy to use website allowing customers to buy, sell, and invest in cryptocurrencies, and in stock markets, all in one single place. The vision was to make a product for the global financial system that is easily accessible to everyone. The costumer will first have to make investments in cryptocurrencies, then he/she can invest in share markets as per their needs. This product also has a built-in machine learning based stock prediction model which helps it’s users to decide which stock to invest in & when it is the right time to sell such stocks.

Yan Zhuang, Yin-Wu Chen, Zon‐Yin Shae, Chi‐Ren Shyu

BACKGROUND: Data coordination across multiple health care facilities has become increasingly important for many emerging health care applications. Distrust has been recognized as a key barrier to the success of such applications. Leveraging blockchain technology could provide potential solutions tobuild trust between data providers and receivers by taking advantage of blockchain properties such as security, immutability, anonymity, decentralization, and smart contracts. Many health technologies have empirically proven that blockchain designs fit well with the needs of health care applications with certain degrees of success. However, there is a lack of robust architecture to provide a practical framework for developers to implement applications and test the performance of stability, efficiency, and scalability using standard blockchain designs. A generalized blockchain model is needed for the health care community to adopt blockchain technology and develop applications in a timely fashion. OBJECTIVE: This study aimed at building a generalized blockchain architecture that provides data coordination functions, including data requests, permission granting, data exchange, and usage tracking, for a wide spectrum of health care application developments. METHODS: An augmented, 3-layered blockchain architecture was built on a private blockchain network. The 3 layers, from bottom to top, are as follows: (1) incorporation of fundamental blockchain settings and smart contract design for data collection; (2) interactions between the blockchain and health care application development environment using Node.js and web3.js; and (3) a flexible development platform that supports web technologies such as HTML, https, and various programing languages. Two example applications, health information exchange (HIE) and clinical trial recruitment, were developed in our design to demonstrate the feasibility of the layered architecture. Case studies were conducted to test the performance in terms of stability, efficiency, and scalability of the blockchain system. RESULTS: A total of 331,142 simulated HIE requests from accounts of 40,000 patients were successfully validated through this layered blockchain architecture with an average exchange time of 11.271 (SD 2.208) seconds. We also simulated a clinical trial recruitment scenario with the same set of patients and various recruitment criteria to match potential subjects using the same architecture. Potential subjects successfully received the clinical trial recruitment information and granted permission to the trial sponsors to access their health records with an average time of 3.07 seconds. CONCLUSIONS: This study proposes a generalized layered blockchain architecture that offers health technology community blockchain features for application development without requiring developers to have extensive experience with blockchain technology. The case studies tested the performance of our design and empirically proved the feasibility of the architecture in 2 relevant health application domains.

Yue Liu, Qinghua Lu, Hye-Young Paik, Xiwei Xu · 6 authors

Self-sovereign identity (SSI) is considered to be a "killer application" of blockchain. However, there is a lack of systematic architecture designs for blockchain-based SSI systems to support methodical development. An aspect of such gap is demonstrated in current solutions, which are considered coarse grained and may increase data security risks. In this paper, we first identify the lifecycles of three major SSI objects (i.e., key, identifier, and credential) and present fine-grained design patterns critical for application development. These patterns are associated with particular state transitions, providing a systematic view of system interactions and serving as a guidance for effective use of these patterns. Further, we present an SSI platform architecture, which advocates the notion of Design-Pattern-as-a-Service. Each design pattern serves as an API by wrapping the respective pattern code to ease application development and improve scalability and security. We implement a prototype and evaluate it on feasibility and scalability.

Wenxuan Pan, Meikang Qiu

one of the most important emerging technologies in the recent years, blockchain has been well developed and widely used in many domains, including financial business systems. One of such financial business systems, traditionally called AssetBacked securitization (ABS), suffers from several shortcomings such as information asymmetry, credit rating inaccuracy and poor product liquidity. In this paper, we propose to use the blockchain technology to improve ABS financial business system. First, we analyze the current situation and existing issues of ABS business in China to summarize the problems to be solved. Then, we propose our designs of an ABS business system based on the blockchain technology.