Blockchain Papers

Leopoldo Catania, Stefano Grassi, Francesco Ravazzolo

No abstract is available for this record.

Shuling Li

With the rapid growth of urbanization, smart city needs efficient and sustainable intelligent solutions in the transportation, environment, energy, government affairs. The smart city infrastructure, which combines the IoT, Big Data and Energy Internet, is one of the most effective solutions. It's facing many problems such as poor security of IoT, equipment maintenance and upgrade difficulty, high operating costs of large data center construction, poor resistance to damage, the difficulty of establishing the energy Internet users trust , user privacy is easy to leak, market model is not applicable and so on. The Blockchain is a kind of distributed P2P network common intelligence accounting technology based on cryptography. The features of open, transparent, interconnection and peer-to-peer, storage and sharing in the Blockchain are relevant to the openness, interconnection, peer-to-peer and Shared characteristics of the energy Internet. Its features of redundant storage and distribution also make up for the disadvantages of large data center's high operation cost, poor recovery ability and the difficulties for the maintenance of IoT equipment. This paper, first introduces the role of the big data, IoT, and the energy Internet in the construction of smart city and Blockchain technology. By analyzing their respective characteristics and comparing their similarities, corresponding solutions are put forward to aim at the problems such as poor security of IoT, upgrading of equipment maintenance and upgrading, construction and operation cost of large data center, poor flexibility in anti-attack, difficulty in establishing trust in energy Internet users, user privacy leakage and inapplicability of trading market mode. A kind of architecture of P2P light-heavy backup is put forward to overcome the high cost of Blockchain data storage.

Danai Likitratcharoen, Teerasak Na Ranong, Ratikorn Chuensuksomboon, Norrasate Sritanee · 5 authors

Due to conclusion could not rely on only one test, in this study, we apply various approaches to verify the actuary of VaR model to find out whether VaR model, especially historical VaR and delta normal VaR model, can provide the accurate risk measurement results for cryptocurrencies risk, especially CRIX, BTC, ETH and XRP. We use Kupiec’s POF test, Independence Test - Christoffersen (1998) and Joint Test that widely use for backtesting VaR model. Performance test results for risk measurement by historical VaR provide a fairly accurate over delta normal VaR when we use Kupiec’s POF-test for the accuracy of VaR model. Christoffersen (1998) independence test, the exceptions (failures) of historical VaR and delta normal VaR model show independence exceptions in accordance with an only high confidence level of critical values (0.99). Otherwise, the low confidence level of critical values (0.90 and 0.95) appears dependence exceptions. For the Joint test, we combine POF-test and independence test because each model has different advantages and disadvantages. The results show that historical VaR model is suitable for measuring cryptocurrency risk over delta normal VaR only high confidence level of critical values.

Michael Hinterstocker, Christa Dufter, Serafin von Roon, Alexander Bogensperger · 5 authors

Blockchain-based software solutions have been proposed and analyzed for several applications in the field of energy markets. They are often expected to cause “disruptive” changes to the energy industry, implicating they might totally replace current market structures and render today's energy system obsolete. In order to evaluate the actual potential, several specific use cases from different fields are examined here. The potential impact is estimated based on the market value of the respective market segment, which allows assessing the prospective effect. The analyses show that some use cases do have potential to improve current processes and thus, to change the market setting, but these changes are expected to be relatively small. Therefore, blockchain technology is not expected to be disruptive regarding the energy industry, but to complement the structures and processes which are already in place.

Sumarsih Condroayu Purbarani, Wisnu Jatmiko

In today’s world, everything is transforming to digital forms. These yield large amount of data. A good analysis of these data can lead to new knowledge about the present situation as well as the future insight. While many advantages could be obtained from these large data, the issue on how to run the Machine Learning on a large dataset as effective and efficient as possible remains an open problem. In this paper, data processing simulation using machine learning algorithm ofLinear Regression is conducted to learn from Bitcoin trading dataset. The simulation is carried out in Apache Spark cluster architecture and GPU. The running time and error of the algorithm implementation in both architectures are compared with each other. The simulation results show similar error performance between Apache Spark cluster and GPU. Yet, Apache Spark can run the simulation faster than GPU.

Han Woo Park, Sejung Park

이 연구는 웹보메트릭스 빅데이터 기법을 활용한 암호화폐 온라인 영향력을 조사했다. 구체적으로 2017년 12월 시가총액 톱50개 화폐를 대상으로 온라인연결망을 측정했다. 웹보메트릭스에 기반한 빅데이터 분석을 실시해 암호화폐 홈페이지와 연결된 외부링크를 조사하여 각 암호화폐의 대중적 인지도를 파악하고, 나아가 암호화폐들의 관계적 특성을 분석했다. 연구결과 bitcoin.org, bitcoin.com, steemit.com의 온라인 영향력이 가장 강한 것으로 나타났다. 특히 steemit.com이 외부로부터의 링크 수가 가장 많았으며 상호링크 관계망에서 중개자의 위치를 점하고 있었다. bitcoin.org은 외향중심성 값이 가장 높게 나타나 적극적인 정보전송자로 자리매김하고 있는 반면 bitcoin.com은 내향중심성에서 1등을 차지하면서 권위적 정보허브로서 기능하고 있음을 발견했다. 나아가 사회연결망 지표와 와이스(Weiss) 평가점수와의 통계적 상관성을 발견하여 빅데이터 분석이 시장 예측도 가능하다는 것을 시사한다. 암호화폐를 둘러싼 정부규제가 계량화된 데이터 없이 주관적 비평과 정성적 측면에서 접근되면서 논란이 있는 가운데, 이 논문은 암호화폐의 현황을 웹보메트릭스 방법으로 측정하여 정책지원의 과학적 수단을 제공한다.This study explored presence and influence of cryptocurrencies on the web. A network of top 50 cryptocurrencies in terms of market capitalization was mapped on December 12, 2017. Webometric analytics was conducted to examine online presence and influence of each cryptocurrency as well as the relations between cryptocurrencies by tracing the external links from each site. The results suggest that bitcoin.org, bitcoin.com and steemit.com were the most influential sites based on the number of hit counts. Interestingly, steemit.com received the largest amount of links from other sites and bridged the sites of the other cryptocurrencies in the network. It is noteworthy that bitcoin.org with the highest outdegree centrality played a role as an active informant while bitcoin.com with the highest indegree centrality was a hub in the network. This study also found positive correlations between the results of Weiss ratings and key social network analysis indicators, including hit counts, Betweeness centrality, Out2Step, OutARD, InARD and 2StepBet. The result implies that webometric analytics is useful to predict a market. This data-driven approach to online influence and presence of cryptocurrencies is valuable to policy-makers who continue to debate about the societal impact and the regulations of cryptocurrencies.

Grace Oktavia Tanti Utomo

Cryptocurrency is a form of money that is secured by cryptography, a technology that will keep safe any information from third parties, to pacify the transactions and to control its value over time. Cryptocurrency has no organization or institution who has authority to control it, which makes some people think that it is not safe. Many research has talking about cryptocurrency in its technological side. However, no study has ever been correlating this topic with economic growth. Using panel data regression, this thesis correlating BTC, as the most known and expedienced type of cryptocurrency with GDP as the variable that represent economic growth. It also has 3 other variables as the control variable that will make sure the result to be unbiassed. Those are capital (K), labor (L), and Technology (A), as in the Solow’s growth theory which reviewing growth through its supply side, the input production function. The sample are taken from 5 Asian countries with the highest number of Bitcoin usages (Japan, China, India, Singapore, Indonesia), with period that started from 2011 to 2016. KEYWORDS: Cryptocurrency, economic growth, solow growth model, bitcoin.

Xiaohuan Wang, Qingcheng Hu, Yong Zhang, Guigang Zhang · 6 authors

No abstract is available for this record.

Tao Fan, Qingsu He, Erbao Nie, Shaozhen Chen

The development of Energy-Internet is currently suffering from a series of issues, such as the conflicts among high capital requirement, low-cost, high efficiency, the spreading gap between capital demand and supply, as well as the lagged trading & valuation mechanism, any of which would hinder Energy-Internet's evolution. However, with the development of Blockchain and big-data technology, it is possible to work out solutions for these issues. Based on current situation of Energy-Internet and its requirements for future progress, this paper demonstrates the validity of employing blockchain technology to solve the problems encountered by Energy-Internet during its development. It proposes applying the blockchain and big-data technologies to pricing and trading energy products through Energy-Internet and to accomplish cyber-based energy or power's transformation from physic products to financial assets.

Gary Davis

It's a sunny March morning in 2023. 7:18 AM. You're buttering your bagel and gulping your coffee like always. You're looking forward to your commute - you'll do a conference call with your team and catch up on the news. You're thankful you don't have to actually drive, your car knows the way. As you get into your car you are presented with an urgent message. Your car has been immobilized and you need to pay 4 Bitcoin in ransom. You're not going anywhere right now. The world will have 50 billion connected devices by 2020. We've all heard this stat by now, but what does this really mean for individuals and society? What will be different? How fast will these shifts occur? Will we be ready? Learn from one of the foremost IoT thought leaders how a world of sensors, devices and machines everywhere, some we see, others we don't, sending vast quantities of data, will affect our daily lives, change our behaviors, and influence our thoughts about innovation, convenience, security and privacy. We'll examine a day in the life of a digital citizen in 2020 and identify the implications of a world where nearly everything is connected. 3 questions this session will answer: ; What does a world of 50 billion connected devices look like? What are all these devices, what are they doing and why? : What are some of the major ways society and interpersonal relations will change in a world where nearly everything is connected? : This world is coming - are we ready? What are some of the implications of this onslaught of connectivity on issues like privacy and security?

Jung Mann Lee

No abstract is available for this record.

Abba Garba, Zhi Guan, Anran Li, Zhong Chen

No abstract is available for this record.

Chang Yeon Kim, Kyungho Lee

Investment and interest in cryptocurrency is rapidly growing. The price of each bitcoin, in particular, has exceeded 10,000 dollars as of November 2017, so we do not know how long the uptrend will continue. Although blockchain technology is more open and security oriented than conventional currency issuing methods, it is relatively ineffective in terms of distribution and management of cryptocurrency. The most common way to get cryptocurrency is trading through exchange and mining, which novices sometimes invest in without sufficient knowledge. Therefore, this paper analyzes vulnerabilities of potential cryptocurrency exchanges and individual user wallets. Moreover, this paper will suggest policy risk management methods using international standards such as from NIST and ISO. Blockchain, weaknesses of countermeasures management system, countermeasures to deal with them, management vulnerability of investors and management plan. Server management plan and personal action tips will be provided.

Apoorva Ganapathy, Taposh Kumar Neogy

The cryptocurrency Artificial intelligence price emulator is a software programmed to collect cryptocurrency market data, analyze the data and predict the market price using the collected data. Computer emulators are programmed to mimic and copy behaviors or other software/hardware. The reason for emulation is to get to a particular result as quickly as possible. Machine learning is the ability of computers to read and process data while learning from the data with human interference or influence. This work focused majorly on how cryptocurrency market prices can be emulated using Artificial Intelligence with machine learning abilities. It also looked into the advantages of using the software for crypto investors. Some of which is the reduced time of research, reduction of risk, among others.

Ιωάννα Παντελή

Η εκπόνηση της παρούσας διπλωματικής εργασίας στοχεύει να αναδείξει και να ερευνήσει, κατά πόσο το ψηφιακό κρυπτονόμισμα Bitcoin μπορεί να θεωρηθεί πραγματικό χρήμα. Αρχικά, θα μελετηθούν οι διαφορές του (πραγματικού) χρήματος με την παραδοσιακή έννοια του όρου σε σχέση με το ψηφιακό νόμισμα (bitcoin), εφόσον όλες οι συναλλαγές γίνονται μέσω διαδικτύου. Στη συνέχεια, θα αναλυθεί η έννοια και η λειτουργία του Bitcoin καθώς και η αλυσίδα των μπλοκ (block chain), που είναι ένα κοινόχρηστο δημόσιο λογιστικό βιβλίο (ledger) πάνω στο οποίο βασίζεται ολόκληρο το δίκτυο αυτό. Με άλλα λόγια επιχειρείται η αναλυτική παρουσίαση του τρόπου λειτουργίας του κρυπτονομίσματος Bitcoin, από την απόκτηση μίας μονάδας Bitcoin μέχρι την ολοκλήρωση μίας συναλλαγής Επιπλέον, λόγω του ότι το σύστημα Bitcoin έχει δεχτεί ισχυρή κριτική για τους τρόπους με τους οποίους έχει χρησιμοποιηθεί για παράνομες δραστηριότητες, θα γίνει προσπάθεια να αναλυθούν: πρώτα τα μειονεκτήματα και συγκεκριμένα να αποσαφηνιστούν τα λάθη που έχουν γίνει εξαρχής τα οποία οδήγησαν ορισμένους να βλέπουν καχύποπτα το όλο σύστημα, και έπειτα τα πλεονεκτήματα από τα οποία μπορούν να επωφεληθούν οι χρήστες. Επίσης, θα μελετηθεί η τάση της τιμής του Βitcoin, ειδικά στο πως επηρεάζεται από τους παράγοντες της ζήτησης. Στη συνέχεια αναφέρω διάφορες υπηρεσίες που προσφέρει το Bitcoin στην Ελλάδα καθώς και την σχέση τους με το ψηφιακό αυτό νόμισμα. Και τέλος, θα γίνει αναφορά στις απόψεις διάφορων μελετητών και οικονομολόγων για το εάν θα μπορούσε η Ελλάδα να υιοθετήσει ένα τέτοιο νόμισμα.

Leopoldo Catania, Stefano Grassi

From the Washington University Senior Honors Thesis Abstracts (WUSHTA), 2017. Published by the Office of Undergraduate Research. Joy Zalis Kiefer, Director of Undergraduate Research and Associate Dean in the College of Arts & Sciences; Lindsey Paunovich, Editor; Helen Human, Programs Manager and Assistant Dean in the College of Arts and Sciences Mentors: Mina Lee and Li Yang

Mabvuto Mwale

ENGLISH ABSTRACT : Bitcoin is a peer to peer (P2P) electronic payment system proposed by Nakamoto in 2008. Central to the operation of Bitcoin is the blockchain, which is, in essence, a public ledger of all transactions. The blockchain is maintained by a group of volunteers called miners, who are rewarded with bitcoins for successfully mining blocks. Mining a block involves collecting and validating transactions, adding validated transactions to a block, and finally adding the block to the blockchain and broadcasting the block to the peer network. The purpose of this thesis is to examine the profitability of block discarding attacks in the Bitcoin network. To this end, we developed a discrete event simulator to model the dynamics of the blockchain. We use a simplistic network model where all participants are miners. Initially, our investigation focusses on a model where all miners are honest, following the Bitcoin rules, and all block transmissions are subject to delays. We show that the delays cause forks to occur in the blockchain, which are quickly resolved. The simulation results for our network model closely agree with those observed from the real Bitcoin network. We then examine a block discarding attack referred to as selfish-mine [32], where it is claimed that a small group of colluding miners can subvert the Bitcoin protocol. We evaluate this claim using relative revenue (the fraction of the total revenue that is credited to the pool of colluding miners) and confirmed blocks (the absolute number of blocks credited to the pool of colluding miners at the end of a mining period) for the case where there is instantaneous block transmission, and the case where block transmission is subject to delays. We show that this claim is true for the first case. However, for the latter case, selfish-mine is only profitable (in terms of the relative revenue) when the pool commands more than 30% of the total computing power of the network. We further show that a higher relative revenue does not necessarily entail a larger number of confirmed blocks and that the presence of selfish-mine causes both the honest and the dishonest miners to fare worse. Finally we present a generalized form of selfish-mine, representing a greater variety of block discarding attacks, and use a genetic algorithm to search for an optimal configuration of the generalized selfish-mine that yields a better performance for the pool. We attempt to maximize either the relative revenue or the number of confirmed blocks. Our results show that the generalized form of selfish-mine when optimally configured yields better performance than standard selfish-mine, both in terms of the relative revenue and confirmed blocks.

Richard Kemp

The article offers information on the industrial revolution which is coined by Davos founder Klaus Schwab for the deep digital transformation. It mentions that International Organisation for Standardisation received formal requests to set up a new field of technical activity. It also mentions that report from the National University of Ireland Maynooth showed that the total energy consumption of Bitcoin mining was comparable with Ireland's total electricity usage

FC 2017 Sliema, Michael 1974- Brenner, Kurt Rohloff, Joseph Bonneau · 12 authors

No abstract is available for this record.

Marc Pilkington

This chapter expounds the main principles behind blockchain technology and some of its cutting-edge applications. We first present the core concepts of the blockchain. Secondly, we discuss a definition put forward by Vitalik Buterin, we sketch out the shift toward hybrid solutions, and we sum up the main features of decentralized crypto-ledger platforms. Thirdly, we show why the blockchain is a disruptive and foundational technology, but we expose the potential risks and drawbacks of public distributed ledgers that account for the shift toward hybrid solutions. Finally, we present a non-exhaustive list of important applications, bearing in mind the most recent developments.

Wang Wei-hon

IC card with its high security,portability and other virtues has become a most widely used payment tool in the financial field.In order to cope with increasingly wide application of the Bitcoin,this research designs Bitcoin payment system based on the IC card in order to improves its safety and convenience.The master key encryption is used to indirectly encrypt password and account private key,avoiding using simple password to cause the reduced safety of private key encryption.Using hierarchical deterministic address will enhance the anonymity of the IC card account.The uniquely determined transaction signature random number scheme based on the key and message will achieve Bitcoin private key secure storage based on IC card and secure payment of Bitcoin transactions.

Feroz Ahmad Ahmad, Prashant Kumar, Gulshan Shrivastava, Med Salim Bouhlel

ON 12 JANUARY 2009 a pseudonymous entity signed a transaction that instructed a distributed network to transfer a small amount of digital currency to Hal Finney, one ofthe key figures of the cypherpunk movement. After a few minutes, the transaction was recorded on a distributed public ledger, permanently updating the balance ofbothparties. This transaction— the first Bitcoin transaction—marked the beginning of a new era of decentralized payment systems, ushering in a variety of financial Services that do not depend on any centralized clearinghouse or other financial middleman. Bitcoin is regarded by many as a powerful technological innovation that could disrupt many sectors, in the realm of finance and beyond. But the underlying technology on which the network operates, the Bitcoin blockchain can do much more than that. Just as the internet did in the early-1990s, blockchain technology carries with it a whole new range of promises concerning how decentralization can support and promote individual freedoms and autonomy. Blockchain proponents believe that Bitcoin and other cryptocurrency platforms will revolutionize mechanisms of value exchange in the same way that the internet transformed information sharing, by providing a platform for people to exchange digital resources, in a secure and decentralized manner without the need to rely on any intermediary or trusted authority. But this revolutionary potential also carries with it serious implications for censorship, intellectual property, and the regulated flow of information. A blockchain is a decentralized database of transactions maintained by a distributed network of computers, which all contribute to the verification and the validation of transactions. Once accepted, these transactions are recorded inside a “block” of transactions, which incorporates a reference to previous blocks. This creates a long chain of blocks—a “blockchain”—that stores the history of all transactions in a chronological order. Every block contains information about a particular set of transactions, a reference to the preceding block in the blockchain, and the answer to a complex mathematical puzzle that is used to validate the data associated with that block. A copy of the blockchain is stored on every computer in the network, making it virtually impossible for anyone unilaterally to modify the data stored on this decentralized database: if anyone tries to modify any transaction the fraud will be immediately detected by all other network participants.

Yi Qing Lu

Bitcoin is a pure electronic money based on cryptographic proof instead of trust. The principle of Bitcoin can allow any two willing parties to transact directly with each other without the need for a trusted third party. Bitcoin can represent a totally new anarchy virtual currency and an innovation of digital currency. But its development also needs to face to the security of national policy risk, technology risk and trading risks.

Parth Chandarana, M. Vijayalakshmi

Big Data concerns massive, heterogeneous, autonomous sources with distributed and decentralized control. These characteristics make it an extreme challenge for organizations using traditional data management mechanism to store and process these huge datasets. It is required to define a new paradigm and re-evaluate current system to manage and process Big Data. In this paper, the important characteristics, issues and challenges related to Big Data management has been explored. Various open source Big Data analytics frameworks that deal with Big Data analytics workloads have been discussed. Comparative study between the given frameworks and suitability of the same has been proposed.