Blockchain Papers

Adrian Hofmann

No abstract is available for this record.

Yourong Chen, Hao Chen, Meng Han, Banteng Liu · 6 authors

To overcome the fast-changing block withholding attacks among multiple mining pools composed of miners in the blockchain system, this paper proposes a mining pool computing power allocation (MPPA) algorithm, which significantly improves the revenues of mining pools with block withholding attacks. MPPA first establishes the revenue optimization model of mining pools, which includes current adequate total computing power, the revenues of honest mining, and the revenues of block withholding attacks. Then MPPA calculates the revenue gain generated by block withholding attacks on other mining pools. To adjust the fixed computing power in each iteration, we have the mining pool computing power allocation algorithm with a fixed change of computing power (MPPA_F). To adjust the optimal recovery and attack computing power, we have the mining pool computing power allocation algorithm with an optimal change of computing power (MPPA_O). The simulation results demonstrate that MPPA_F and MPPA_O can find the optimized solutions of power computing allocation for each mining pool and outperform the state-of-arts such as WSFS, ALLC, and ALLD.

Jiaxing Qi, Jing Yu, Shunfu Jin

Blockchain technology has been used in many fields such as data management, cloud computing and Internet of Things with the features of decentralization, transparency and immutability. In order to study the performance of a blockchain system with a light-load traffic, we establish a discrete-time non-exhaustive vacation queue with batch service and gated service. In this model, we regard transaction initiation, mining processing and block verification as arrival, vacation and service period, respectively. By using an embedded Markov chain method and a regeneration cycle approach, we derive the average response time of transactions. Experiment results with analysis and simulation show that the average response time of transactions is impacted by the arrival rate of transactions. Finally, we study the Nash equilibrium behavior and the socially optimal behavior of transactions, and present a pricing policy for transactions to maximize the social profit.

Shuai Wang, Xiaojun Tu, Hongfeng Chai, Quan Sun · 7 authors

As a new FinTech innovation regulation tool, regulatory sandbox effectively balances financial innovation and risk, so it is adopted by many regulatory authorities around the world. However, until now, regulatory sandbox is still at the stage of manually submitting data, and artificial intelligence has not been applied to it. Hence, in this paper, we propose the framework of Parallel FinTech Regulatory Sandbox based on the ACP approach (Artificial systems + Computational experiments + Parallel execution). Then, we talk about how to combine the emerging blockchain technology with intelligent regulatory sandbox, thus solving problems such as poor data flow and regulation sluggish. This paper is aimed at providing helpful guidance and reference for the development of FinTech regulatory sandbox.

Jieren Cheng, Jun Li, Naixue Xiong, Meizhu Chen · 6 authors

Nowadays, as lightweight mobile clients become more powerful and widely used, more and more information is stored on lightweight mobile clients, user sensitive data privacy protection has become an urgent concern and prob... | Find, read and cite all the research you need on Tech Science Press

Yujuan Wen, Fengyuan Lu, Yufei Liu, Peijin Cong · 5 authors

No abstract is available for this record.

Olamide Timothy Tawose

No abstract is available for this record.

Vijay Rajasekar, Shiv Sondhi, Sherif Saad, Shady Mohammed

No abstract is available for this record.

Sa’ed Abed, Ali Ashkanan, Wathiq Mansoor, Amjad Gawanmeh

No abstract is available for this record.

Ethan Kinory, Sean Stein Smith, Kimberly Swanson Church

ABSTRACT While the accounting profession determines the possible future impacts of blockchain, universities will need to prepare students for a career using the disruptive technology. This necessitates hands-on training to teach the basics of modeling a blockchain network. Hyperledger is an open source blockchain advancement initiative hosted by The Linux Foundation (IBM n.d.). Hyperledger Composer is a specific Hyperledger project that provides a framework and necessary tools to facilitate new blockchain development. This proposal walks students through three use cases with the outcome of (1) familiarizing them with IBM's Hyperledger Composer (a virtual playground in which they can experiment with numerous blockchains), (2) orienting them to the underlying code that drives blockchains, and (3) improving their technological agility by directing them to manipulate the code and observe the functional effects.

César Pedraza, Luis Lugo

Distributed ledger technologies (DLTs) have the potential to transform different areas of research and industry. Initially created to support a peer-to-peer electronic cash system – more commonly known as bitcoin – blockchains provide a decentralised transactions and data management technology. This decentralised technology is secure, anonymous, and transparent. Nonetheless, the blockchain protocol has a number of technical weaknesses such as power computing dependency and high power consumption. An alternative protocol proposes a democratic approach in which the computing power is not a determinant factor in user participation. The democratic protocol has three phases: hash generation, hash broadcast, and hash validation. We evaluate the performance of the hash generation phase on CPU, GPU, and cluster platforms. A considerable speedup is achieved with GPUs when using final nonce values similar to a real blockchain application. Also, it provides the best power efficiency.

Tianmu Li, Yongjun Ren, Jinyue Xia

Blockchain technology has recently obtained widespread attention. And it is being regarded as potentially even more disruptive than the Internet, whose usage includes large areas of applications ranging from crypto currency, financial services, reputation system, Internet of Things, sharing economy to public and social services. The existing works of blockchain primarily are focused on key components and potential applications. However, in the existing blockchain systems, the waiting time of transactions is too long. Furthermore, it may produce serious consequences because many important transactions are not handled timely. To solve the problem, in the paper, the blockchain Queuing model with non-preemptive limited-priority is established, which considers the different transactions having different priority when being mined. There are two classes of transactions in the model, one is high-priority transaction with pay or with prior interest, the other is low-priority transaction without pay or without prior interest. And high-priority transactions can be mined preferentially when mining process is not occupied. If low-priority transaction is being mined, the arriving high-priority transaction will wait for the mining accomplishment. Through the analysis of the model, we compute average waiting time, average staying time and average length of queue. From simulation of the model, we find that transactions with pay or with prior interest and increase service rate of mining are effective for reducing waiting time. Besides, the two factors mutually reinforce to shorten waiting time. Finally, we conclude this paper and point out the direction of future research.

Xiao Chen, Kejie Zhang, Xiubo Liang, Weiwei Qiu · 6 authors

With the considerable exploration of blockchain in various industrial fields, the storage architectures of mainstream consortium blockchains exhibit significant performance limitations, which can't meet the requirements of efficient data access with massive data storage in enterprise-level business scenarios. In this paper, we creatively divided the underlying data of the consortium blockchain into two categories: continuous data and state data and proposed a new storage architecture to store and operate these two types of data efficiently. For continuous data, we designed a specialized index-based storage engine. For state data, we proposed a multi-level cache mechanism with a secure and integrated data persistence policy. In addition, a pluggable Client/Server mode is employed to achieve flexible distributed extension. A series of experiments are conducted to show the effectiveness of our architecture. Compared with mainstream consortium blockchain storage architecture based on LevelDB, the average time-consuming decreases 81.85%/82.47% for reading/writing continuous data and 22.21%/48.99% for reading/writing state data. Compared with the storage architecture based on distributed database TiKV, the time-consuming decreases more significantly. This storage architecture has been integrated into the enterprise-level consortium blockchain platform Hyperchain, which has supported the efficient running of dozens of large-scale commercial blockchain projects with massive data.

Shilpa Karkeraa

This chapter will look at designing various constructs of blockchains and distributed ledgers in different use cases. After walking through an array of technological tools, the software architects, solution architects, and product design engineers have to generate architectures of blockchain elements either from scratch or on top of existing technology tools. This decision is usually based on the business requirements, technology choices, and developers’ skills.

Xu Zhao, Zhiwei Lei, Guigang Zhang, Yong Zhang · 5 authors

No abstract is available for this record.

Meng Hu, Tao Shen, Jin-bao Men, Zhuo Yu · 5 authors

Distributed energy trading has become an essential part of the energy trading market and provides a useful supplement to traditional centralized energy trading, but there are still problems such as opaque trading information and asymmetric user data. The blockchain technology has the advantages of traceability, trade openness, and data transparency, which is naturally suitable for distributed energy transactions. The electricity information data transmission represented by distributed energy transaction has the characteristics of real-time, which has a high-efficiency requirement on the selected blockchain technology. The consensus algorithm is the core of blockchain technology and affects the efficiency of the blockchain system. The efficiency of the existing consensus algorithms for energy transaction-oriented blockchain still needs to be improved. In this paper, a consensus resource slicing model(CRSM) is designed to meet the requirements of consensus efficiency in energy trading scenarios. Specifically, CRSM divides consensus nodes into different consensus domains for concurrent consensus, and the storage domain only stores block information without consensus. By building an experimental platform, the efficiency of CRSM was verified, the communication pressure of the blockchain system was reduced, and the consensus speed was effectively improved.

Teasung Kim, Sejong ­Lee, Yongseok Kwon, Jaewon Noh · 6 authors

With the development of blockchain technology, participants need to have huge storage volumes to deal with the growing blockchain ledger size over time. This requirement leads to the conditional participation and verification of participants, thus weakening the decentralization of a blockchain system. Several compression schemes have been proposed to mitigate this storage problem by compressing a blockchain ledger based on redundancy, modular functions, and hash functions. However, these schemes have the limitation of accumulating the compression results to validate the retained blocks. The accumulation gradually reduces the storage volume for the blockchain ledger within the storage volume of nodes with limited resources, thus reducing the verification capability of the nodes. In this paper, a selective compression scheme using a checkpoint-chain is proposed to prevent the accumulation of compression results. The checkpoint-chain is a second blockchain that stores the checkpoints compressing existing blocks through a block Merkle tree. An update process is also proposed to prevent the accumulation of checkpoints by combining them. As numerous blocks can be verified with only a few updated checkpoints, blockchain nodes with limited resources can reduce the storage volume for the blockchain ledger and achieve high verification capabilities. Finally, compared with the existing compression schemes, the proposed scheme can achieve an average reduction in the storage overhead and an average increase in the verification capability of 76.02% and 13.90%, respectively. Moreover, the corresponding performance improvements are 86.14% and 15.44% when the update process is performed, respectively.

Vijay Rajasekar Thirulokachander

Blockchain or Distributed Ledger Technology (DLT) introduces a new computing paradigm that is viewed by experts as a disruptive and revolutionary technology. While bitcoin is the most well-known successful application of blockchain technology, many other applications and sectors could successfully utilize the power of blockchain. The potential applications of blockchain beyond finance and banking encouraged many organizations to integrate and adopt blockchain into existing or new software systems. Integrating and using any new computing paradigm is expected to affect the best practice and design principles of building software systems. Emerging blockchain-based applications require careful attention to many functional and nonfunctional requirements. One common practice in software engineering to handle potential pitfalls in software systems is using design patterns. Design patterns have been long used in software development to optimize the quality of software being developed. This research aims to determine the level of adoption of design patterns blockchain applications and their usefulness by analyzing the quality of the source code. This is achieved in a two-step process. Firstly, the quality of publicly available blockchain-based applications developed with design patterns is compared with applications without design patterns. In the next step, two versions of a blockchain-based application for cheque clearance are developed, with and without design patterns, and their quality and vulnerability to attacks are compared.

Nasrin Sohrabi, Zahir Tari

Blockchain's popularity has seen a historic rise over the last decade. However, existing blockchain systems have a major issue with scalability, which has become one of the main obstacles in technology's adoption in mainstream. There have been several attempts to address this limitation by identifying Blockchain's scalability/performance bottlenecks (e.g. those mainly related to consensus algorithms), and thus proposed different solutions (e.g., new consensus protocols) to address such limitations. Other works applied sharding to tackle the issue. All solutions however have mainly focused on Cryptocurrency applications, and thus addressing the scalability of blockchain systems for general applications remains a concern. This work proposes a scalable blockchain protocol for general applications (i.e., not restricted to Cryptocurrencies). To improve the two major factors affecting transaction scalability, namely throughput and latency, we needed to modify both the blockchain structure as well as the block generation process. ZyConChain, the proposed Blockchain system, introduces three types of blocks that form three separate chains: parentBlock, sideBlock and state block. These blocks are generated based on different consensus algorithms, as each algorithm has specific properties that make it suitable for each type of block. To improve the overall performance, ZyConChain generates sideBlocks (that carry transactions) at a high rate and keep them in a pool. To generate parentBlock, miners, instead of packing transactions into a block as they do in conventional blockchains, pack sideBlocks into a parentBlock. SideBlocks are generated based on an adapted Zyzzyva consensus protocol, with O(\log n) complexity. This has reduced the final consensus complexity per transaction, in comparison to previous work. To enable the protocol to scale out with the increase in the number of nodes, ZyConChain applied sharding technique. Parallel state chains have also been introduced to address cross-shard transactions.

Chen Yang, Mingzhe Liu, Kun Wang, Feixiang Zhao · 5 authors

No abstract is available for this record.

Claudio Di Ciccio, Giovanni Meroni, Pierluigi Plebani

No abstract is available for this record.

Chongxuan Yuan, Jianming Zhu

No abstract is available for this record.

S. Devidas, N. Rukma Rekha, Y. V. Subba Rao

No abstract is available for this record.

Alex Hoffman, Eric Becerril-Blas, Kévin Moreno, Yoohwan Kim

The rise of decentralized applications (DApps) have received great attention over the recent years due to the surge of attention towards blockchain technologies. Motivated by these recent disruptions, this paper introduces a blockchain based bug bounty program named Bountychain. This DApp utilizes an Ethereum based smart contract system and an interplanetary file system (IPFS) storage paradigm intended to be used by companies, industries, and testers. The smart contract model provides a safe, secure, and transparent platform for a bug bounty program. Testers will submit bugs via the blockchain, and companies will accept or reject the defect via the blockchain. Thus, testers will automatically get paid via the in-built smart contract system on a web interface, which will allow the tester to gain recognition and status no matter which company's bugs they find. The transactions on the chain will serve as a persistent and transparent record of software bugs, and IPFS will serve as a long-term storage system for bug details.