ABSTRACT: Cryptocurrency, is it just a trend or is it the future of assets? It is a hot topic of conversation among individuals, as well as within companies. This paper will provide an overview of Cryptocurrency as well as discuss its inception, the current state, and the future outlook. As well, the paper will look at negative, neutral, and positive perceptions of Cryptocurrency from the perspective of individuals and organizations. The discussion will also look into Bitcoin, Ethereum, and Ripple, revealing how they differ from each other, even though all three are based on Blockchain Technology. Another section of the paper examines the comparison of Cryptocurrency to other assets. It will examine whether Cryptocurrency is similar to a monetary currency, such as the US Dollar, similar to common stock, such as shares in a public company or similar to money metals, such as Gold and Silver. These assets are all subject to market fluctuations, just like Cryptocurrency. KEYWORDS: Cryptocurrency, Bitcoin, Ethereum, Ripple, Blockchain Technology, Satoshi Nakamoto
Esta obra es fruto del esfuerzo de varios profesores de Derecho de la Universidad Autonoma de Barcelona interesados en analizar las incidencias juridicas de la aplicacion de sistemas de inteligencia artificial en el Derecho de autor. Se divide en tres partes que abordan areas de actual interes en relacion con los derechos de los autores.
La Parte I esta dedicada al estudio de la -creatividad computacional- y a la aplicacion de la -realidad aumentada- en el mundo del arte. Respecto de la primera, se analizan cuestiones como la -originalidad-, cuando el -autor- es un sistema de inteligencia artificial, viendo quien debe ser el titular de las facultades de explotacion economica de la -obra- de este modo -producida- o -creada-. En este punto, son sugerentes las aportaciones de la Dra. Susana Navas (catedratica de Derecho civil) y de la Dra. Marina Castells (investigadora postdoc) en torno a la cocreacion humano-robot. En relacion con el segundo ambito mencionado realidad aumentada y arte nos enfrentamos a su configuracion como -obra multimedia-, asunto estudiado por la Profesora Navas.
En la Parte II se analiza la -proteccion del derecho de autor-, abordandose el aspecto concerniente a las medidas tecnologicas de proteccion y a la automatizacion de la cesion de facultades de explotacion economica mediante la tecnologia blockchain, Ethereum y otras mas avanzadas. De la pluma del Prof. Carlos Gorriz (titular de Derecho mercantil) se presenta el primer extremo, con especial atencion a las normas y documentos europeos en la materia. De la del Dr. Santiago Robert (profesor asociado de Derecho civil) es la contribucion acerca de la cesion de facultades de explotacion mediante los denominados smart legal contracts, sobre la base de ya referida tecnologia.
En la ultima parte, la Parte III, se exponen aplicaciones tecnologicas concretas que afectan a los derechos de los autores. Cuatro son los temas tratados. El primero se refiere al Big Data y su relacion con las nuevas desestructuradas bases de datos como acicate para reformular el derecho sui generis del fabricante. En este interesante aspecto se entretiene Ramon Romeu (profesor asociado de Derecho civil). El segundo tema objeto de interes, de la mano de la Prof. Sandra Camacho (profesora agregada de Derecho civil), es la biblioteca digital, contribucion en la que la autora hace aplicacion del principio de equivalencia funcional entre la biblioteca fisica o analogica y la digital-virtual. Seguidamente, el tercer foco contribucion escrita por Cristina Alonso (profesora asociada de Derecho civil) es el libro electronico, donde se reflexiona acerca del concepto mismo de libro. El ultimo tema tratado son los contenidos de acceso abierto, como manifestacion de una -ciencia abierta a todos-, que escribe Ivan Mateo (profesor asociado de Derecho civil).
In today’s world, the Blockchain technology is used for different purposes has brought an increment in the development of different Blockchain platforms, services, and utilities for storing data securely and efficiently. Quorum Blockchain, an Ethereum fork created by JPMorgan Chase, has placed itself in one of the widely used, efficient and trustful Blockchain platforms available today. Because of the importance which Quorum is contributing to the world, it is important to test and measure different aspects of the platform, not only to prove how efficient the software can be but as well as to have a clear view on what type of environment the platform could be better used. This research has been focused on testing the efficiency and speed of the transactions been sent to the platform in different types of environments, like local server nodes, virtual machine nodes and cloud instance nodes, by focusing its tests on the average of transactions per second or TPS being made. Once the tests were carried out, and results were obtained, there was a clear difference between the environments used. Using cloud instances for nodes improves the TPS for every single type of transactions over any other types of nodes. It might have been predicted that Cloud Instances would have done a better performance, but other factors could have caused the fallback in results for this type of nodes.
Blockchain is a secure, immutable, and distributed public ledger that stores transactional data. It enables information transfer without the need for a trusted third party via its decentralized consensus mechanism. Besides finance, blockchain technology has the potential to change several industries, through smart contracts and decentralized applications. This thesis explores using blockchain technology, smart contracts, and Ethereum Web 3.0 stack for secure information and file sharing on a fully decentralized architecture. We aim to remove the need for a central authority in all layers of the application, and thus provide an alternative to the drawbacks of centralized content exchange platforms. Accordingly, a proof-of-concept decentralized application is designed. This design is implemented in the Ethereum ecosystem using blockchain for the immutable distributed ledger, Ether for cash transfers, and smart contracts for application logic. Since data storage in blockchain is expensive, Swarm is used as a decentralized reliable content storage system. Nevertheless, permissionless systems in the Ethereum ecosystem lack necessary data privacy, which causes risk for secure information exchange. In order to provide access control for sensitive content delivery without the need for a pre-shared secret, public key encryption is used. Also, to enable fair exchange between separate untrusted rational parties, a double escrow functionality is implemented as a model of fairness via incentive with deposit penalties. According to the validation and evaluation of our proof-of-concept, we show that Ethereum Web 3.0 stack is applicable to securely sharing and exchanging digital content without relying on a trusted third party.
Major sectors are employing the use of blockchain technology to enhance their day-to-day operations. Educational services is one such sector with the government of Singapore developing a large-scale blockchain certificate verification system to improve the education sector. This project will further boost the adoption of blockchain technology in the education space with the development of a peer review decentralised application. This application will be developed with the decentralised, transparent and secure nature of the Ethereum blockchain as the foundation. This peer review decentralised application will allow an administrator to start peer review sessions. The administrator creates teams and assigns peers to their respective teams in the peer review session. The administrator can then start the peer review session where peers use typed evaluations or use a rating system to evaluate/review their fellow peers. Reviews made are final and cannot be modified. This project aims to produce a peer review system that is transparent and immutable which is the key to tackling the problems of fake reviews plaguing traditional scholarly peer reviews, and at the same time providing the security and confidentiality features for student peer evaluation processes.
Донецький національний університет імені Василя Стуса, Maya M. Savchenko, В.О. Короленко, Донецький національний університет імені Василя Стуса · 6 authors
The article explores innovations in the monetary sphere, namely the emergence of a modern form of money - digital currency. Forms of this currency, such as electronic and virtual money, are defined. The dynamics of development of the first and the most expensive cryptocurrency now - Bitcoin is analyzed. The general state of the cryptocurrency usage in the world is indicated. The advantages and disadvantages of using digital currency are also highlighted. The Top-10 cryptocurrencies in the world for 2019 are highlighted with the largest market capitalization of Bitcoin, Ethereum, Ripple. The dependence of the economic development level of the country and the degree of cryptocurrency implementation is revealed. The world legislative experience in the field of regulation of the cryptocurrency is researched. The possibility of its application in the Ukrainian legislation by the cryptocurrency legalization and minimization of risks in the process of use are studied. Prospects for the spread and further development of cryptocurrencies in Ukraine and in the world are considered. It is noted that providing the improvement of monetary technology, its proper regulation and improvement of infrastructure, this financial instrument will occupy an important place in people's daily life.
Durante los ultimos anos ha crecido mucho el interes en los Smart contracts y en blockchain por las repercusiones que pueden llegar a tener en un futuro en la sociedad y la repercusion que puede llegar a tener la informatica en este ambito. La llegada del Bitcoin a la sociedad ha abierto un abanico de ideas y posibilidades respecto a procesos y aplicaciones descentralizadas que pueden ser cubiertas por este tipo de software, eliminando el rol de entidades certificadoras terceras a la hora de realizar transacciones y automatizando acciones con el objetivo de reducir tiempos y costes.
En este trabajo se ha realizado una investigacion profunda de estas tecnologias y se ha llevado a cabo la implementacion de una plataforma de alquiler de vehiculos en donde la gestion de la informacion recae en un contrato inteligente desplegado en la blockchain Ethereum. La plataforma cuenta tambien con un front-end que ha sido desarrollado para dispositivos moviles con sistema operativo iOS. Esta plataforma tiene tambien gestion de usuarios ya que existen dos tipos de roles: usuario y manager.
El resultado final ha sido satisfactorio ya que se ha conseguido implementar el objetivo principal del proyecto que consistia en la conexion de distintas tecnologias de una manera estable. Esto ha sido posible gracias al uso de distintas herramientas de conexiones sin las cuales no habria sido posible comunicar la app movil con el Smart contract.
Cryptocurrencies are well known asset that almost everyone at least heard of. Some of these cryptocurrencies have all of its supply already in circulation, while others do not. Two biggest cryptocurrencies, Ethereum and Bitcoin, have their supply being increased every day through the process known as mining, which many never even heard of. This process and its interaction with price are the main topic of this thesis. Price and hash rate, which is good and flexible index of difficulty of mining, of Bitcoin and Ethereum are studied and it is shown, that there is an interplay among both currencies but also withing the currency itself.
Contratos sao instrumentos fundamentais para formalizar fechamentos de negocios ou
prestacoes de servicos, proporcionando seguranca e confiabilidade as partes interessadas.
Entretanto, o baixo desempenho burocratico e eventualmente o alto custo, dificultam a sua
realizacao, tornando o processo desgastante e exacerbado. Neste contexto, o trabalho em
questao tem por objetivo o desenvolvimento de uma ferramenta que automatize a criacao
de contratos digitais na blockchain Ethereum, utilizando a tecnologia de smart contracts ou
“contratos inteligentes”. Para tal, foi desenvolvido um servico na linguagem de programacao
Solidity, responsavel pela programacao dos smart contracts. Posteriormente, foi desenvolvida
a ferramenta de comunicacao com este servico, utilizando a linguagem de programacao
JavaScript e a biblioteca ReactJS, possibilitando a criacao de contratos digitais na blockchain.
Ao final deste trabalho, foi possivel apresentar uma ferramenta simples, capaz de automatizar a
criacao de contratos em uma rede descentralizada.
The abundance of data available on public blockchain environments might expose users to privacy breaching. Ethereum as the largest host of blockchain-based project currently has no robust protection against such threats. In this paper, a proof-of-concept decentralized application is implemented demonstrating privacy preserving transaction flow in Ethereum environment using zero-knowledge cryptography (zk-SNARK ). The design of the application utilized an experimental package, EY Nightfall and focuses on a blind auction scenario where personal informations needs to be protected. The proof-of-concept is then analysed to weigh the financial and temporal costs of the implementations against the security advantages and was found to be feasible for non fast-paced settings and significantly large transactions.
In den vergangen Jahren haben Corwd-Sensing-Anwendungen immer mehr an Relevanz gewonnen. Mit der Zunahme von mobilen Geräten nahm auch die Verwendung dieser als Sensoren zur Datenerhebung zu. In dieser Arbeit betrachten wir hierbei die Nutzung eines solchen Systems zur Verfolgung mobiler Objekte. Smart-Contracts bieten seit wenigen Jahren die Möglichkeit, dezentral auf einer Blockchain Anwendungen zu implementieren, welche nicht auf einen einzelnen Server angewiesen sind. Smart-Contracts sind transparent und können außerhalb der ersichtlichen, implementierten Möglichkeiten nicht manipuliert werden. Mobile-Target-Tracking-Anwendungen selbst sind keine Neuheit mehr, wohl aber die dezentrale Ausführung dieser auf einer Blockchain. Im Rahmen dieser Arbeit wurde eine Mobile-Target-Tracking-Anwendung implementiert, welche mithilfe von Crowd-Sensing ein Objekt sucht. Die erfassten Daten werden an den Smart-Contract in der Ethereum-Blockchain gesendet, dort gespeichert und nach Erreichen bestimmter Kriterien ausgewertet. Die korrekten Meldungen sollen vom Smart-Contract mit einem Ether-Betrag belohnt werden. Dazu werden in dieser Arbeit verschiedene Algorithmen zum Finden einer konsistenten Menge von Sichtungen diskutiert. Die Herausforderungen der Implementierung und die Evaluation der entstandenen Smart-Contracts werden in dieser Arbeit vorgestellt.
This article represents the chronology of the use of digital currency by professional participants in the US financial market. There are indicated main participants of the digital currency market using this asset for investment and speculative purposes. There are described their actions on the digital currency market. There are analyzed possible stages of the development of the digital currency market. Digital currency Bitcoin and Ethereum are represented. Attention is paid to the innovations of the JP Morgan Chase Corporation, the Facebook Corporation. There are described new exchange assets introduced by Cboe, CME Group, and Bakkt.
Open access
Economic and Technological Developments in Russia
Economic, Social, and Public Health Issues in Russia and Globally
İbrahim Korkmaz Kahraman, Habib Küçükşahin, Emin ÇAĞLAK
Getirilerin normal dağıldığı varsayımını temel alan öngörü modelleri sığ piyasalarda yeterince başarılı performans sergileyememektedir. Bu modeller, özellikle yüksek oynaklık gösteren piyasalarda ulaşılabilecek uç noktaların öngörüsünde daha fazla başarısızlık göstermekte ve bu durum da yatırımcıları volatilite tahminlemesine yöneltmektedir. Bahsedilen durumlar çerçevesinde, çalışmada finansal yatırımcılar için alternatif yatırım aracı olarak görülen ve piyasalarında yüksek oynaklıkların görüldüğü kripto paraların volatilite tahmininde Tekil Oynaklık Modelleri (ARCH, GARCH, T-GARCH, GARCH-M, E-GARCH, I-GARCH) ile uzun hafıza modelleri (AP-GARCH ve C-GARCH) kullanılmıştır. Ayrıca oynaklık tahmini için yararlanılan modeller arasından en uygun model test edilmeye çalışılmıştır. Bu bağlamda, kripto para piyasası içerisinde en yüksek piyasa değerine sahip, Bitcoin, Ethereum ve Ripple para birimlerinin 24/08/2016-07/05/2018 tarihleri arası fiyat verilerinden yararlanılmıştır. Araştırma sonuçlarına göre, Bitcoin ve Ethereum için şokların volatilite etkisi kalıcı ve pozitif şokların etkisi negatif şokların etkisinden daha fazla iken Ripple için şokların volatiliteye etkisi geçici karakterde ve oynaklığın geçişkenliği kısa dönemli olmaktadır.
<p>IoT applications are starting to rely heavily on edge computing due to the advent of low-power and high data-rate wireless communication technologies such as 5G and the processing capability of GPU-driven edge platforms. However, the computation and the data communication model for the edge computing applications are quite diverse, which limits their interoperability. An interoperable edge computing architecture with a versatile communication model would lead to the development of innovative and incentive-driven edge computing applications by combining various data sources from a wide array of devices. In this paper, we present an edge computing architecture by extending the publish-subscribe protocol with support for incentives. Our novel publish-pay-subscribe protocol enables the data producers (publishers) to sell their data with data consumers and service providers (subscribers). The proposed architecture not only allows the device owners to gain incentive but also enable the service providers to sell the processed data with one or more data consumers. Our proof-of-concept implementation using AEDES publish-subscribe broker and Ethereum cryptocurrency shows the feasibility of publish-pay-subscribe broker and its support for data-driven and incentive-based edge computing applications.</p>
Ethereum smart contracts are paving their way into the future of commerce and high stakes are placed upon the correct implementation of their specifications. However, in the history of Ethereum, several vulnerabilities have been exploited which compromised the trust and effectiveness of smart contracts. Errors in executable specification languages are especially challenging to detect using a static approach. Therefore, a dynamic runtime monitoring approach is often preferred. The proposed approach, Vultron, a generalised solution which is not limited in its capabilities, can proactively detect vulnerabilities during runtime, and pre-emptively alter the function execution. \n \nFor Vultron, we look at inserting operations into smart contracts to manipulate the gas instrumentation of Ethereum such that additional debugging instructions can be executed without affecting the gas consumption. This is achieved through modifying both the Solidity compiler and Ethereum Virtual Machine. The source code of the compiler and virtual machine are open-sourced and can be viewed on GitHub. \n \nThe modifications to the compiler and virtual machine illustrate the feasibility of adding custom gas manipulating operations and serve as fundamental building blocks of a fully developed and automated runtime monitoring approach. Given the limitations of static solutions and the advantages of a runtime monitoring approach, we highly recommend adopting Vultron in advancing towards secure smart contracts.