Journal articles on the topic 'The blockchain ledger'
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Fekete, Dénes László, and Attila Kiss. "A Survey of Ledger Technology-Based Databases." Future Internet 13, no. 8 (July 31, 2021): 197. http://dx.doi.org/10.3390/fi13080197.
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The spread of crypto-currencies globally has led to blockchain technology receiving greater attention in recent times. This paper focuses more broadly on the uses of ledger databases as a traditional database manager. Ledger databases will be examined within the parameters of two categories. The first of these are Centralized Ledger Databases (CLD)-based Centralised Ledger Technology (CLT), of which LedgerDB will be discussed. The second of these are Permissioned Blockchain Technology-based Decentralised Ledger Technology (DLT) where Hyperledger Fabric, FalconDB, BlockchainDB, ChainifyDB, BigchainDB, and Blockchain Relational Database will be examined. The strengths and weaknesses of the reviewed technologies will be discussed, alongside a comparison of the mentioned technologies.
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Coyne, Joshua G., and Peter L. McMickle. "Can Blockchains Serve an Accounting Purpose?" Journal of Emerging Technologies in Accounting 14, no. 2 (September 1, 2017): 101–11. http://dx.doi.org/10.2308/jeta-51910.
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ABSTRACT The blockchain has enabled the successful creation of decentralized digital currency networks. This success has prompted further investigation into the usefulness of blockchains in other business settings. Because of the blockchain's use as a ledger, the question arises whether the blockchain could become a more secure alternative to current accounting ledgers. We show that this is infeasible. By casting this question in the context of the Byzantine Generals Problem, which the blockchain was designed to solve, we identify multiple flaws hindering implementation of the blockchain as a financial reporting tool. Whereas blockchain-based digital currencies only exist within the blockchain, economic transactions exist outside of accounting records. This distinction prevents an acceptable level of transaction verification using the blockchain model. Additionally, the security benefits of the blockchain that render it ostensibly immutable are not fully available or reliable in an accounting setting.
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Allen, Darcy W. E., Chris Berg, and Mikayla Novak. "Blockchain: an entangled political economy approach." Journal of Public Finance and Public Choice 33, no. 2 (October 31, 2018): 105–25. http://dx.doi.org/10.1332/251569118x15282111163993.
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This paper incorporates blockchain activities into the broader remit of entangled political economy theory, emphasising economic and other social phenomena as the emergent by-product of human interactions. Blockchains are a digital technology combining peer-to-peer network computing and cryptography to create an immutable decentralised public ledger. The blockchain contrasts vintage ledger technologies, either paper-based or maintained by in-house databases, largely reliant upon hierarchical, third-party trust mechanisms for their maintenance and security. Recent contributions to the blockchain studies literature suggest that the blockchain itself poses as an institutional technology that could challenge existing forms of coordination and governance organised on the basis of vintage ledgers. This proposition has significant implications for the relevance of existing entangled relationships in the economic, social and political domains. Blockchain enables non-territorial 'crypto-secession', not only reducing the costs associated with maintaining ledgers, but radically revising and deconcentrating data-conditioned networks to fundamentally challenge the economic positions of legacy firms and governments. These insights are further illuminated with reference to finance, property and identity cases. Entangled political economy provides a compelling lens through which we can discern the impact of blockchain technology on some of our most important relationships.
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Sahani, Amarpreet, Pawan Singh, and Anil Kumar. "Introduction to Blockchain." Journal of Informatics Electrical and Electronics Engineering (JIEEE) 1, no. 1 (April 25, 2020): 1–9. http://dx.doi.org/10.54060/jieee/001.01.004.
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The current monetary system has many issues associated with it like double spending, standard transaction fees, financial crisis, centralized power and private ledgers. Blockchain provides a remedy to all these ills by its basic structure, zero or minimal transaction fees and by providing a public ledger system which is visible to everyone who is the part of blockchain which makes it free from complications like double spending and financial crisis. Blockchain is basically a continuously growing list of records or public distributed ledger system called blocks linked and secured suing cryptography. Each block has multiple transaction details associated with it. It was introduced in the year 2009 by Satoshi Nakamoto, who is believed to be a Japanese man, born in 1974. Given the features and universal nature of the Blockchain, which include decentralized ledger system, proof of work and cryptography, one can appreciate that its implementation could result in far reaching changes in all domains.
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DAVIDSON, SINCLAIR, PRIMAVERA DE FILIPPI, and JASON POTTS. "Blockchains and the economic institutions of capitalism." Journal of Institutional Economics 14, no. 4 (January 18, 2018): 639–58. http://dx.doi.org/10.1017/s1744137417000200.
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AbstractBlockchains are a new digital technology that combines peer-to-peer network computing and cryptography to create an immutable decentralised public ledger. Where the ledger records money, a blockchain is a cryptocurrency, such as Bitcoin; but ledger entries can record any data structure, including property titles, identity and certification, contracts, and so on. We argue that the economics of blockchains extend beyond analysis of a new general purpose technology and its disruptive Schumpeterian consequences to the broader idea that blockchains are an institutional technology. We consider several examples of blockchain-based economic coordination and governance. We claim that blockchains are an instance of institutional evolution.
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Biais, Bruno, Christophe Bisière, Matthieu Bouvard, and Catherine Casamatta. "Blockchains, Coordination, and Forks." AEA Papers and Proceedings 109 (May 1, 2019): 88–92. http://dx.doi.org/10.1257/pandp.20191018.
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Blockchains are distributed ledgers. Their protocol aims at ensuring that the miners in charge of recording transactions reach a consensus about a unique ledger. In this paper, we highlight that the game induced by the blockchain proof-of-work protocol generates several equilibria. In some equilibria, different versions of the ledger or “branches” coexist, breaching consensus. Such forks arise because of the interplay of miners' incentives to coordinate on the same branch, and miners' incentives to protect their vested interests on a given branch. We illustrate that these elements were present in the recent hard forks that occurred on Bitcoin.
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Lemieux, Victoria L. "Blockchain and Recordkeeping: Editorial." Computers 10, no. 11 (October 20, 2021): 135. http://dx.doi.org/10.3390/computers10110135.
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Distributed ledger technologies (DLT), including blockchains, combine the use of cryptography and distributed networks to achieve a novel form of records creation and keeping designed for tamper-resistance and immutability. Over the past several years, these capabilities have made DLTs, including blockchains, increasingly popular as a general-purpose technology used for recordkeeping in a variety of sectors and industry domains, yet many open challenges and issues, both theoretical and applied, remain. This editorial introduces the Special Issue of Computers focusing on exploring the frontiers of blockchain/distributed ledger technology and recordkeeping.
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Nijsse, Jeff, and Alan Litchfield. "A Taxonomy of Blockchain Consensus Methods." Cryptography 4, no. 4 (November 19, 2020): 32. http://dx.doi.org/10.3390/cryptography4040032.
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For a blockchain, consensus is the foundation protocol that enables cryptocurrencies such as Bitcoin to maintain state. Additionally, to ensure safety and liveness for a publicly accessible and verifiable ledger, fault tolerance must be robust. However, there appears to be a degree of misunderstanding about how consensus is applied across blockchains. To assist researchers considering variations between them, this study presents a rational classification of consensus methods applied to current blockchains. The study provides a survey of 19 methods classified by the scarce resource they employ: clock-cycles, bits, tokens, votes, time, and biometrics. Blockchain implementations are split between consensus algorithms requiring proof of resource and those that use majority voting to update the ledger.
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Meier, Andreas, and Henrik Stormer. "Blockchain = Distributed Ledger + Consensus." HMD Praxis der Wirtschaftsinformatik 55, no. 6 (August 31, 2018): 1139–54. http://dx.doi.org/10.1365/s40702-018-00457-7.
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Ajao, Lukman Adewale, James Agajo, Emmanuel Adewale Adedokun, and Loveth Karngong. "Crypto Hash Algorithm-Based Blockchain Technology for Managing Decentralized Ledger Database in Oil and Gas Industry." J 2, no. 3 (August 8, 2019): 300–325. http://dx.doi.org/10.3390/j2030021.
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This research work proposes a method for the securing and monitoring of petroleum product distribution records in a decentralized ledger database using blockchain technology. The aim of using this technique is to secure the transaction of distributed ledgers in a database and to protect records from tampering, fraudulent activity, and corruption by the chain participants. The blockchain technology approach offers an efficient security measure and novel advantages, such as in the transaction existence and distribution ledger management between the depot, transporter, and retailing filling station. Others advantages are transparency, immunity to fraud, insusceptibility to tampering, and maintaining record order. The technique adopted for this secure distributed ledger database is crypto hash algorithm-1 (SHA-1)-based public permissioned blockchain and telematics, while this telematics approach is an embedded system integrated into an in-vehicle model for remote tracking of geolocation (using Global Positioning System (GPS)), monitoring, and far-off data acquisition in a real-time. The scope of the data in the secure distributed ledger database (using blockchain) developed are identification (ID) of the tanker operator, Depot name, Source station ID, Destination station ID, Petroleum product volume, Transporter ID, and Geographic automobiles location. This system proved to be efficient, secure, and easy to maintain as it does not permit any individual for records tampering, but supports agreement of ~75% of participants in the chain to make changes.
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Johar, Sumaira, Naveed Ahmad, Warda Asher, Haitham Cruickshank, and Amad Durrani. "Research and Applied Perspective to Blockchain Technology: A Comprehensive Survey." Applied Sciences 11, no. 14 (July 6, 2021): 6252. http://dx.doi.org/10.3390/app11146252.
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Blockchain being a leading technology in the 21st century is revolutionizing each sector of life. Services are being provided and upgraded using its salient features and fruitful characteristics. Businesses are being enhanced by using this technology. Countries are shifting towards digital currencies i.e., an initial application of blockchain application. It omits the need of central authority by its distributed ledger functionality. This distributed ledger is achieved by using a consensus mechanism in blockchain. A consensus algorithm plays a core role in the implementation of blockchain. Any application implementing blockchain uses consensus algorithms to achieve its desired task. In this paper, we focus on provisioning of a comparative analysis of blockchain’s consensus algorithms with respect to the type of application. Furthermore, we discuss the development platforms as well as technologies of blockchain. The aim of the paper is to provide knowledge from basic to extensive from blockchain architecture to consensus methods, from applications to development platform, from challenges and issues to blockchain research gaps in various areas.
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Park, Joonsuu, and KeeHyun Park. "A Two-Class Data Transmission Method Using a Lightweight Blockchain Structure for Secure Smart Dust IoT Environments." Sensors 20, no. 21 (October 26, 2020): 6078. http://dx.doi.org/10.3390/s20216078.
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In smart dust IoT environments, a large number of devices with low computing power/resources are deployed to collect surrounding information. There are many issues to consider for an efficient and secure smart dust IoT environment. Sometimes the urgent sensed data needs to be transmitted immediately. In addition, there are potential problems related to security issues since the smart dust IoT systems may be deployed in hard-to-access areas. In this paper, we propose an effective transmission method for two-class sensed data for secure smart IoT systems. We divide the sensed data into two classes which consist of the urgent sensed data class (requiring urgent data transmission) and the normal sensed data class (with a slight transmission delay due to yielding to the urgent data transmission). In addition, for security reasons, the proposed transmission method uses two kinds of blockchains with the following two ledgers: (1) the urgent sensed data ledger, which is a ledger of data that needs urgent transmission; and (2) the normal sensed data ledger, which is a ledger of data that allows some delay. To be specific, the lightweight blockchain based on our earlier work is used for the normal sensed data transmission, whereas the modified conventional blockchain is used for the normal sensed data transmission. The experiments show that the performance of the proposed transmission method is better than the conventional transmission method in almost all sections. There is a 53% performance increase on average with regard to the transmission time. When the ratio of urgent sensed data is 0% (i.e., no urgent sensed data at all), the proposed transmission method is greater improved by as much as about 96%. This means that the lightweight blockchain scheme used in the proposed transmission method for the normal sensed data is very efficient.
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Abramowicz, Michael. "Autonocoin: A Proof-of-Belief Cryptocurrency." Ledger 1 (December 21, 2016): 119–33. http://dx.doi.org/10.5195/ledger.2016.37.
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This paper proposes a self-governing cryptocurrency, dubbed Autonocoin. Cryptocurrency owners play formal tacit coordination games by making investments recorded on the blockchain. Such investments represent bets about the focal point resolution of normative issues, such as whether a proposed change to Autonocoin should occur. The game produces a result that resolves the issue. With a typical cryptocurrency, the client software establishes conventions that ultimately lead to the identification of the authoritative blockchain. Autonocoin completes a circle by making transactions on the blockchain that in turn define those conventions and the expected software behavior. The distributed consensus mechanism embodied by formal tacit coordination games, meanwhile, can make other types of decisions, including which of competing blockchains is authoritative and whether new Autonocoins should be rewarded to benefit those who have taken actions to benefit Autonocoin. This establishes a unique funding model for a cryptocurrency, and it addresses objections to cryptocurrencies issued predominantly to the initial founders, as well as to those that encourage wasteful mining activities.
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Konashevych, Oleksii. "Cross-blockchain protocol for public registries." International Journal of Web Information Systems 16, no. 5 (November 2, 2020): 571–610. http://dx.doi.org/10.1108/ijwis-07-2020-0045.
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Purpose The purpose of this paper is to present a concept of the protocol for public registries based on blockchain. New database protocol aims to use the benefits of blockchain technologies and ensure their interoperability. Design/methodology/approach This paper is framed with design science research (DSR). The primary method is exaptation, i.e. adoption of solutions from other fields. The research is looking into existing technologies which are applied here as elements of the protocol: Name-Value Storage (NVS), Berkley DB, RAID protocol, among others. The choice of NVS as a reference technology for creating a database over blockchain is based on the analysis and comparison with two other similar technologies Bigchain and Amazon QLDB. Findings The proposed mechanism allows creating a standard database over a bundle of distributed ledgers. It ensures a blockchain agnostic approach and uses the benefits of various blockchain technologies in one ecosystem. In this scheme, blockchains play the role of journal storages (immutable log), whereas the overlaid database is the indexed storage. The distinctive feature of such a system is that in blockchain, users can perform peer-to-peer transactions directly in the ledger using blockchain native mechanism of user access management with public-key cryptography (blockchain does not require to administrate its database). Originality/value This paper presents a new method of creating a public peer-to-peer database across a bundle of distributed ledgers.
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Et. al., Sura I. Mohammed Ali,. "Using Blockchain in University Management Systems." Turkish Journal of Computer and Mathematics Education (TURCOMAT) 12, no. 2 (April 10, 2021): 3305–12. http://dx.doi.org/10.17762/turcomat.v12i2.2389.
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lockchain stores a series of transactions in form of a sequence of linked blocks. Hence, the concept of ledger is easily maintained. Transactions and interactions that take place among participants accessing the distributed and decentralized blockchain network are holding through ledger. In a student management system (SMS), vital information can be highly shared and well protected at the same time. This paper proposes a model for using blockchains to implement fully functional SMS that maintains students’ records, course registrations record and student marks. The proposed model adds more security via the use of hashing and data readily available with decentralized data storage. In addition, the use of ledger-based system to maintain SMS data introduces reliable and highly trusted model.
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Berg, Chris. "What Diplomacy in the Ancient Near East Can Tell Us About Blockchain Technology." Ledger 2 (December 18, 2017): 55–64. http://dx.doi.org/10.5195/ledger.2017.104.
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A blockchain is an institutional technology—a protocol—that allows for economic coordination between agents separated by boundaries of possible mistrust. Blockchains are not the only technology in history to have these characteristics. The paper looks at the role of the diplomatic protocol at the very beginning of human civilisation in the ancient near east. These two protocols—diplomatic and blockchain—have significant similarities. They were created to address to similar economic problems using similar mechanisms: a permanent record of past dealings, public and ritualistic verification of transactions, and game-theoretic mechanisms of reciprocity. The development of the diplomatic protocol allowed for the creation of the first international community and facilitated patterns of peaceful trade and exchange. Some questions about a generalised ‘protocol economics’ are drawn.
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Kraft, Daniel. "Game Channels for Trustless Off-Chain Interactions in Decentralized Virtual Worlds." Ledger 1 (December 21, 2016): 84–98. http://dx.doi.org/10.5195/ledger.2016.15.
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Blockchains can be used to build multi-player online games and virtual worlds that require no central server. This concept is pioneered by Huntercoin, but it leads to large growth of the blockchain and heavy resource requirements. In this paper, we present a new protocol inspired by payment channels and sidechains that allows for trustless off-chain interactions of players in private turn-based games. They are usually performed without requiring space in the public blockchain, but if a dispute arises, the public network can be used to resolve the conflict. We also analyze the resulting security guarantees and describe possible extensions to games with shared turns and for near real-time interaction. Our proposed concept can be used to scale Huntercoin to very large or even infinite worlds and to enable almost real-time interactions between players.
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Feng, Hangwei, Jinlin Wang, and Yang Li. "A Blockchain Storage Architecture Based on Information-Centric Networking." Electronics 11, no. 17 (August 25, 2022): 2661. http://dx.doi.org/10.3390/electronics11172661.
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Blockchain technology is a unique distributed ledger technology that has been widely used in various areas. With the increase in data on the blockchain and the append-only nature of the blockchain, the traditional blockchain’s full replica storage technique leads to blockchain storage scalability problem. Existing methods prioritize minimizing the storage strain on blockchain nodes while ignoring the availability of data, resulting in a lengthy average response time for users to access the blockchain. To address the shortcomings, this paper proposes an Information-Centric Networking-based blockchain storage architecture. The architecture uses the enhanced resolution system for community division to build blockchain node partitions and store blockchain ledgers in the underlying network. It introduces virtual chain for rapid blockchain indexing and adopts a collaborative block replica deletion algorithm across neighboring partitions, including replica number decision based on blockchain access decay characteristics and replica deletion based on resource relationship. Finally, we compare and analyze the proposed blockchain storage architecture with BC-store and KASARASA, and the results demonstrate that this architecture has significantly lower average access time than others. The replica data volume of this method is reduced by 57.2% compared to the full replica policy, but the access time is only 5.2% slower when compared to the full replica policy, which substantially increases the replica storage utilization.
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Ansari, Mohammed Rehan, Navratan Navratan, and K. M. Umamaheswari. "study of awarding student achievement using blockchain." Linguistics and Culture Review 5, S3 (October 31, 2021): 823–36. http://dx.doi.org/10.21744/lingcure.v5ns3.1629.
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Blockchain technology will soon have progressed from being an innovation to the norm of application development and the digital revolution. The technology of a blockchain is essential based on a widely distributed, peer-to-peer ledger of transactions and balances. This ledger is essentially a huge database broken down into chunks known as blocks. These blocks and the entire ledger are stored in millions of copies on that particular blockchain network on extremely powerful computers known as nodes. There is a majority-based consensus that exists for every transaction that is carried out and put in a block. To tamper with this ledger would require computing power either equal to or greater than 51% of all the nodes active for that particular blockchain. Even if this power were acquired to tamper with or hack the particular blockchain, the cryptocurrencies or tokens that are transacted on the blockchain would essentially be overturned and considered worthless due to the other nodes detecting a hack or attempt to steal tokens or wallet balances. This is how the first cryptocurrency like bitcoin, along with many other cryptocurrencies on their respective blockchain technologies, operate.
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Anwar ul Hassan, Ch, Muhammad Hammad, Jawaid Iqbal, Saddam Hussain, Syed Sajid Ullah, Hussain AlSalman, Mogeeb A. A. Mosleh, and Muhammad Arif. "A Liquid Democracy Enabled Blockchain-Based Electronic Voting System." Scientific Programming 2022 (January 13, 2022): 1–10. http://dx.doi.org/10.1155/2022/1383007.
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Developing an electronic voting system that meets the practical needs of administrators has been a difficult task for a long time. Now, blockchain technologies solve this problem by providing a distributed ledger with immutable, encrypted, and secure transactions. Distributed ledger technologies are an interesting technological leap in the field of data innovation, transparency, and trustability. In public blockchain, distributed ledger technology is widely used. The blockchain technology can be used in an almost infinite number of ways to benefit from sharing economies. The purpose of this study is to assess how blockchain may be utilized to build electronic voting systems that can be used as a service. The purpose of electronic voting systems is explained in this article, as are the technological and legal limitations of employing blockchain as a service. Then, using blockchain as a foundation, we propose a new electronic voting system that fixes the flaws we observed. In general, this paper evaluates the capabilities of distributed ledger technologies by depicting a contextual investigation in order to fine-tune the process of political election decisions and employing a blockchain-based application that improves security and lowers the cost of conducting nationwide elections.
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Soltani, Reza, Marzia Zaman, Rohit Joshi, and Srinivas Sampalli. "Distributed Ledger Technologies and Their Applications: A Review." Applied Sciences 12, no. 15 (August 6, 2022): 7898. http://dx.doi.org/10.3390/app12157898.
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With the success of Bitcoin and the introduction of different uses of Blockchain, such as smart contracts in Ethereum, many researchers and industries have turned their attention to applications that use this technology. In response to the advantages and disadvantages of Blockchain, similar technologies have emerged with alterations to the original structure. Distributed ledger technology (DLT) is a generalized distributed technology encompassing these new variants. Several studies have examined the challenges and applications of Blockchain technology. This article explores the possibilities of using different DLTs to solve traditional distributed computing problems based on their advantages and disadvantages. In this paper, we provide an overview and comparison of different DLTs, such as Hashgraph, Tangle, Blockchains, Side Chain and Holochain. The main objective of the article is to examine whether distributed ledger technologies can replace traditional computational methods in other areas instead of traditional methods. Based on the primary keywords, we conducted a systematic review of more than 200 articles. Based on the data extracted from articles related to the use of DLT, we conclude that that DLTs can complement other methods, but cannot completely replace them. Furthermore, several DLTs such as Sidechain, Holochain and Hashgraph are still in their infancy, and we foresee much research work in this area in the coming years.
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Zheng, Xiaoying, Yongxin Zhu, and Xueming Si. "A Survey on Challenges and Progresses in Blockchain Technologies: A Performance and Security Perspective." Applied Sciences 9, no. 22 (November 6, 2019): 4731. http://dx.doi.org/10.3390/app9224731.
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Blockchain naturally fits multiple industry sectors due its characteristics of decentralization, enhanced security, tamper-proof, improved traceability and transparency. However, there is a significant concern of blockchain’s performance, since blockchain trades off its performance for a completely distributed feature, which enhances its security. In this paper, we investigate the state-of-the-art progress of blockchain, mainly from a performance and security perspective. We extracted 42 primary papers from major scientific databases and 34 online technical articles. The objective is to understand the current research trends, challenges and future directions. We briefly introduce the key technologies of blockchain including distributed ledger, cryptography, consensus, smart contracts and benchmarks. We next summarize the performance and security concerns raised in the investigation. We discuss the architectural choices, performance metrics, database management enhancements, and hybrid blockchains, and try to identify the effort that the state-of-the-art has made to balance between the performance and security. We also make experiments on Ethereum and survey other popular blockchain platforms on the scalability feature of blockchain. We later discuss the potential applications and present the lessons learned. Finally, we attempt to identify the open issues and possible research directions.
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Reijers, Wessel, Fiachra O'Brolcháin, and Paul Haynes. "Governance in Blockchain Technologies & Social Contract Theories." Ledger 1 (December 21, 2016): 134–51. http://dx.doi.org/10.5195/ledger.2016.62.
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This paper is placed in the context of a growing number of social and political critiques of blockchain technologies. We focus on the supposed potential of blockchain technologies to transform political institutions that are central to contemporary human societies, such as money, property rights regimes, and systems of democratic governance. Our aim is to examine the way blockchain technologies canbring about - and justify - new models of governance. To do so, we draw on the philosophical works of Hobbes, Rousseau, and Rawls, analyzing blockchain governance in terms of contrasting social contract theories. We begin by comparing the justifications of blockchain governance offered by members of the blockchain developers’ community with the justifications of governance presented within social contract theories. We then examine the extent to which the model of governance offered by blockchain technologies reflects key governance themes and assumptions located within social contract theories, focusing on the notions of sovereignty, the initial situation, decentralization and distributive justice.
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Poluyanenko, N. A., Yu I. Gorbenko, V. E. Safonenko, and A. A. Kuznetsov. "Refinement of estimates of the success probability of a double-spend attack on the Blockchain System, Based on the Independent Players Model." Radiotekhnika, no. 203 (December 23, 2020): 25–37. http://dx.doi.org/10.30837/rt.2020.4.203.03.
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Blockchain technology is being studied in many innovative applications, such as: cryptocurrencies, smart contracts, communication systems, healthcare, Internet of Things, financial systems, software development, electronic voting and many others. Using a transparent and fully distributed peer-to-peer blockchain architecture, applications benefit from a data-only model, in which “transactions” are accepted into the blockchain ledger and, if the system is functioning properly, cannot be modified or deleted. The transparency of blockchain systems makes it possible to store publicly available and irrefutable records. A peer-to-peer blockchain system provides verifiable ledger maintenance without centralized management, which solves the problems of a single point of failure and a single point of trust. The article deals with the issue of the security of application of accounting systems built on decentralized principles using blockchain technology. Particular attention is paid to the problem of the possibility of double spending in such accounting systems. The article exemplifies the reorganization of records in blockchain ledgers, performed by successfully carrying out a 51% attack on consensus algorithms based on proof of work. Given refinement of analytical expressions of 51% attack probability obtained in the works of S. Nakamoto and M. Rosenfeld using a more general model, namely, the model of independent players, where the probability of block formation by attackers and an honest network are independent events. The results of comparing of the success probability of a double-spending attack on the blockchain systems calculated according to different models are presented.
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Podgorelec, Blaž, Muhamed Turkanović, and Sašo Karakatič. "A Machine Learning-Based Method for Automated Blockchain Transaction Signing Including Personalized Anomaly Detection." Sensors 20, no. 1 (December 25, 2019): 147. http://dx.doi.org/10.3390/s20010147.
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The basis of blockchain-related data, stored in distributed ledgers, are digitally signed transactions. Data can be stored on the blockchain ledger only after a digital signing process is performed by a user with a blockchain-based digital identity. However, this process is time-consuming and not user-friendly, which is one of the reasons blockchain technology is not fully accepted. In this paper, we propose a machine learning-based method, which introduces automated signing of blockchain transactions, while including also a personalized identification of anomalous transactions. In order to evaluate the proposed method, an experiment and analysis were performed on data from the Ethereum public main network. The analysis shows promising results and paves the road for a possible future integration of such a method in dedicated digital signing software for blockchain transactions.
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Sharma, Asha, Shurveer S. Bhanawat, and Raj Bahadur Sharma. "Adoption of Blockchain Technology Based Accounting Platform." Academic Journal of Interdisciplinary Studies 11, no. 2 (March 5, 2022): 155. http://dx.doi.org/10.36941/ajis-2022-0042.
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Accounting has always been influenced by digital technology, although most of it has been replacing analogue instruments with digital versions. A blockchain is a digital ledger that is used to record transactions between different participants in a network. It is an internet-based, peer-to-peer distributed ledger that contains all transactions since its inception. Blockchain technology has the potential to revolutionize the world humanity implementing in the business based on the concept of transmitting valuable digital assets like bitcoin without the need of a third-party intermediary. Blockchain is considered as a type of database or a sort of digital ledger, which is widely used by many financial organizations. It's a distributed ledger which keeps records of immutable and verifiable data. This blockchain technology permits decentralized ledger transactions to be produced without the intervention of a third party. Because of its decentralization, networks have a high degree of protection. The aim of the study is to investigate various decisions making factors, affecting in adopting blockchain technology in the field of accounting. The result showed that secure and private, transparent and auditable, immutable, better transparency, reduce cost, transparency, real-time transaction, and flexible are most likely influencing factors in adoption of blockchain technology. The result indicates that the Quorum, Sap Hana, and Ethereum, platforms are most consistent and trusted platforms for block chain technology and the blockchain platforms are found most suitable, secured and stronger platform.
Received: 25 October 2021 / Accepted: 2 February 2022 / Published: 5 March 2022
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rajur, Dr K. Nagarathna. "IoT combined with Block-Chain and 5G infrastructure for its application and development : A Review." International Journal of Engineering and Computer Science 10, no. 5 (May 31, 2021): 25327–2535. http://dx.doi.org/10.18535/ijecs/v10i5.4582.
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It is a modern type of technology that empowers virtual and physical artefacts to interact and provide digitized services for each other, and includes the Internet of Things (IoT). But it has some benefits, but raises problems of single point of failure, anonymity, accountability, and data integrity due to the new structured design. Challenges like these stands in the path of the introduction of all the most interesting Internet of Things technologies. Bringing the Internet of Things through the public ledger might fix these issues. Decentralized ledger systems are comprised of blockchain as well as distributed ledgers. The introduction of the Internet of Things (IoT) to the blockchain will offer tremendous advantages. Blockchain integration in this paper offers a detailed exploration of how to combine the IoT technology with the IoT scheme. It is followed by reviewing the basic framework and addressing the problems inherent in the system's integration, explaining the advantages of it, and describing ways in which the blockchain can help to overcome such problems. Blockchain as a Service for IoT can illustrate how different protocol concepts can be applied using different service types on blockchain. After this, there would be an important section about the integration of artificial intelligence (AI) into the Internet of Things (IoT) and blockchain. Finally, potential study avenues will focus on ways of applying the Internet of Things (IoT) with blockchain are suggested. The open issues and challenges of 5G-enabled IoT for blockchain-based Industrial automation are also analyzed in the text.
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Pflanzner, Tamas, Hamza Baniata, and Attila Kertesz. "Latency Analysis of Blockchain-Based SSI Applications." Future Internet 14, no. 10 (September 29, 2022): 282. http://dx.doi.org/10.3390/fi14100282.
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Several revolutionary applications have been built on the distributed ledgers of blockchain (BC) technology. Besides cryptocurrencies, we can find many other application fields in smart systems exploiting smart contracts and Self Sovereign Identity (SSI) management. The Hyperledger Indy platform is a suitable open-source solution for realizing permissioned BC systems for SSI projects. SSI applications usually require short response times from the underlying BC network, which may vary highly depending on the application type, the used BC software, and the actual BC deployment parameters. To support the developers and users of SSI applications, we present a detailed latency analysis of a private permissioned BC system built with Indy and Aries. To streamline our experiments, we developed a Python application using containerized Indy and Aries components from official Hyperledger repositories. We deployed our experimental application on multiple virtual machines in the public Google Cloud Platform and on our local, private cloud using a Docker platform with Kubernetes. We evaluated and compared their performance with the metrics of reading and writing response latency. We found that the local Indy ledger reads 30–50% faster, and writes 65–85% faster than the Indy ledger running on the Google Cloud Platform.
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Ballamudi, Koteswara Rao. "Blockchain as a Type of Distributed Ledger Technology." Asian Journal of Humanity, Art and Literature 3, no. 2 (December 31, 2016): 127–36. http://dx.doi.org/10.18034/ajhal.v3i2.528.
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Distributed ledger technology (DLT) that stores data (usually immutable and sequenced transaction records) in a decentralized way through cryptography and consensus algorithms. The first widely recognized implementation of the blockchain took place in 2009 on the Bitcoin public blockchain. Since then, other types of blockchain have been developed for a wide range of applications and features built on common principles such as decentralization, encryption, consensus, and immutability. In particular, blockchain technology is most widely used in transaction settlement and digital currency banks and the financial sector, as well as in supply chain applications that help participants solve problems quickly and efficiently. Other use cases continue to be developed. As a form of information management, blockchain and related DLTs offer advantages over traditional databases and may help develop certain new technologies such as the Internet of Things. Blockchain regulation is currently restricted at the international and federal levels, but state-level legislation provides support and awareness of aspects of blockchain technology. Most of the current regulations are in the form of self-regulation by blockchain developers and related communities, but many challenges and risks such as data privacy and security need to be addressed in the near future.
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Shakhnazarov, B. A. "<i>Lex Registrum</i> as a System of Regulation of Cross-Border Relations Aimed at Protection of Intellectual Property Implemented by Means of Blockchain Technology." Kutafin Law Review 9, no. 2 (July 5, 2022): 195–226. http://dx.doi.org/10.17803/2713-0525.2022.2.20.195-226.
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The problem of legal regulation of cross-border private law relations in the field of intellectual property implemented through blockchain technologies requires thorough scrutiny on behalf of both legal theorists and practitioners. The use of blockchain technologies is relevant for both copyright and industrial property issues. A practical method to establish a technological basis for the protection of intellectual property rights that is used for their storing and for other purposes provides for implementation of so-called blockchain ledgers. At the same time, the main function of blockchain ledgers is to protect the rights of copyright holders and to provide them with an opportunity to use results of their intellectual activity simultaneously in several jurisdictions. In this respect, the use of distributed ledger technologies should be regulated by a system of rules established by the participants of legal relations within the framework of implementation of certain cross-border private law relations. This article considers, inter alia, lex registrum as a system of rules regulating relations under consideration.
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Samaduzzaman, Munshi. "Blockchain: Future of Accounting Education." Asian Journal of Finance & Accounting 12, no. 2 (September 27, 2020): 14. http://dx.doi.org/10.5296/ajfa.v12i2.17679.
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Blockchain will be the future of accounting education. Triple entry accounting system is here, and shared ledger has been considered. From the shared ledger different parties can access transactions. As our discussion reveals that distributed ledger, Smart contract and Blockchain are three important elements in the triple entry accounting system. As a result, blockchain technology is helping the upgrading the process of education system. Blockchain technology is a peer to peer communication that allows participants to secure the settlement of transactions, achieve the transactions and transfer of assets at low cost. With certain advantages there are disadvantages too. Based on performance and acceptance, it is clear that in future the implication of blockchain technology would be developed. The concept of triple accounting has introduced the new way of accounting work replacing accounting standard formula. The blockchain technology eliminates the involvement of third party, maintain transparency and charges low transaction cost. It will save money and time of people as it is secure and due to decentralization, it is not controlled by one single entity. Due to the decentralization, every user of the network can see the file. So, blockchain should the part the Accounting Education in future.
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Charanya R. and Saravanaguru R. A. K. "Integrity of E-Health Record Ensured With Context-Based Merkle Tree Through Temporal Shadow in Blockchain." International Journal of Information Technology and Web Engineering 15, no. 4 (October 2020): 72–87. http://dx.doi.org/10.4018/ijitwe.2020100105.
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The patient's health record is sensitive and confidential information. The sharing of health information is a first venture to make health services more productive and improve the quality of healthcare services. Decentralized online ledgers with blockchain-based platforms were already proposed and in use to address the interoperability and privacy issues. However, other challenges remain, in particular, scalability, usability, and accessibility as core technical challenges. The paper focuses on ensuring the integrity of the health record with context-based Merkle tree (CBMT) through temporal shadow. In this system, two ledgers were used to ensure the integrity of eHealth records like general public ledger (GPL) and personalized micro ledger (PML). The context-based Merkle tree (CBMT) is used to aggregates all the transactions at a particular time. The context means it depends on time, location, and identity. This is ensured without the help of a third party.
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Kapsoulis, Nikolaos, Alexandros Psychas, Georgios Palaiokrassas, Achilleas Marinakis, Antonios Litke, Theodora Varvarigou, Charalampos Bouchlis, Amaryllis Raouzaiou, Gonçal Calvo, and Jordi Escudero Subirana. "Consortium Blockchain Smart Contracts for Musical Rights Governance in a Collective Management Organizations (CMOs) Use Case." Future Internet 12, no. 8 (August 11, 2020): 134. http://dx.doi.org/10.3390/fi12080134.
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Private and permissioned blockchains are conceptualized and mostly assembled for fulfilling corporations’ demands and needs in the context of their own premises. This paper presents a complete and sophisticated end-to-end permissioned blockchain application for governance and management of musical rights endorsed by smart contract development. In a music industry use case, this disclosed solution monitors and regulates conflicting musical rights of diverse entities under a popular permissioned distributed ledger technology network. The proposed implementation couples various and distinct business domains across the music industry organizations and non-profit blockchain associations.
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Kuo, Tsung-Ting, Hyeon-Eui Kim, and Lucila Ohno-Machado. "Blockchain distributed ledger technologies for biomedical and health care applications." Journal of the American Medical Informatics Association 24, no. 6 (September 8, 2017): 1211–20. http://dx.doi.org/10.1093/jamia/ocx068.
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Abstract Objectives To introduce blockchain technologies, including their benefits, pitfalls, and the latest applications, to the biomedical and health care domains. Target Audience Biomedical and health care informatics researchers who would like to learn about blockchain technologies and their applications in the biomedical/health care domains. Scope The covered topics include: (1) introduction to the famous Bitcoin crypto-currency and the underlying blockchain technology; (2) features of blockchain; (3) review of alternative blockchain technologies; (4) emerging nonfinancial distributed ledger technologies and applications; (5) benefits of blockchain for biomedical/health care applications when compared to traditional distributed databases; (6) overview of the latest biomedical/health care applications of blockchain technologies; and (7) discussion of the potential challenges and proposed solutions of adopting blockchain technologies in biomedical/health care domains.
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Lawlor, Bonnie. "Blockchain Technology." Chemistry International 42, no. 3 (July 1, 2020): 8–11. http://dx.doi.org/10.1515/ci-2020-0304.
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AbstractI first heard of blockchain technology at a conference in 2017 when Christopher Wilmer, Assistant Professor at the University of Pittsburgh and Managing Editor of Ledger, [1] gave a presentation on the technology. While he did mention Bitcoin and other cryptocurrencies with which the technology was originally associated, Wilmer’s talk explained how his journal uses blockchain for proof-of-publication. He commented that as a data-storage mechanism, “blockchains are well-suited to be used in scholarly publishing because they are extremely resilient, tamper-proof, practically indestructible databases; there is no single point of failure or cost of operation; and there is an incontrovertible proof-of-publication date, even across countries and institutions whose incentives are not aligned (which is sometimes a point of contention for scientists racing to discover cure/new theorem/etc.)” [2].
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Mani, Vinodhini, Prakash Manickam, Youseef Alotaibi, Saleh Alghamdi, and Osamah Ibrahim Khalaf. "Hyperledger Healthchain: Patient-Centric IPFS-Based Storage of Health Records." Electronics 10, no. 23 (December 2, 2021): 3003. http://dx.doi.org/10.3390/electronics10233003.
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Blockchain-based electronic health system growth is hindered by privacy, confidentiality, and security. By protecting against them, this research aims to develop cybersecurity measurement approaches to ensure the security and privacy of patient information using blockchain technology in healthcare. Blockchains need huge resources to store big data. This paper presents an innovative solution, namely patient-centric healthcare data management (PCHDM). It comprises the following: (i) in an on-chain health record database, hashes of health records are stored as health record chains in Hyperledger fabric, and (ii) off-chain solutions that encrypt actual health data and store it securely over the interplanetary file system (IPFS) which is the decentralized cloud storage system that ensures scalability, confidentiality, and resolves the problem of blockchain data storage. A security smart contract hosted through container technology with Byzantine Fault Tolerance consensus ensures patient privacy by verifying patient preferences before sharing health records. The Distributed Ledger technology performance is tested under hyper ledger caliper benchmarks in terms of transaction latency, resource utilization, and transaction per second. The model provides stakeholders with increased confidence in collaborating and sharing their health records.
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Sheldon, Mark D. "A Primer for Information Technology General Control Considerations on a Private and Permissioned Blockchain Audit." Current Issues in Auditing 13, no. 1 (January 1, 2019): A15—A29. http://dx.doi.org/10.2308/ciia-52356.
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SUMMARY Blockchain is a disruptive technology that offers advantages to the audit profession such as transparency into all transactions, an immutable ledger, and the potential for real-time auditing. However, to realize these benefits, the profession must be prepared to gain comfort over blockchains as a component of organizations' information technology infrastructure. This paper considers risks to private and permissioned blockchains through the lens of information technology general controls (ITGCs) as part of an audit of internal control over financial reporting. I discuss new ITGC areas of focus for auditors to consider, along with areas of risk that blockchain could eliminate. To help readers better understand this emerging topic, I provide illustrations, a summary table of key points, and a glossary of blockchain-related terms used throughout the paper. This paper should be viewed as a primer of ITGC considerations on blockchain audits, as more nuanced concerns will emerge as the technology evolves.
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Li, Rong, Shangping Wang, and Na Xie. "A Novel Epoch-Based Transaction Consistency Sorting Protocol for DAG Distributed Ledger." Security and Communication Networks 2022 (December 8, 2022): 1–13. http://dx.doi.org/10.1155/2022/3930858.
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Because of the characteristics of decentralization, immutability, and transparency, blockchain has gradually become a new and revolutionary technology, which has far-reaching significance for the development of modern technology. However, the traditional Bitcoin blockchain that supports synchronous consensus suffers from the fatal flaw of low throughput. To improve throughput, a number of DAG distributed ledgers have been proposed that support asynchronous consensus, all of which allow multiple nodes to process concurrent transactions asynchronously. However, most DAG distributed ledgers do not implement consistent sorting of transactions, making it difficult to deploy smart contracts. To overcome this problem, in this paper, an epoch-based transaction consistency sorting protocol for DAG distributed ledger is proposed, which not only provides the possibility for the deployment of smart contracts but also can be used to resolve conflicting transactions in the ledger. Transaction consistency sorting protocol provides a more reasonably ordered list of all transactions by taking scalars, such as the set of their own past and future, parent block, and timestamp. In addition, through theoretical analysis, the stability and rationality of the transaction consistency sorting protocol are proved, and there is no Condorcet cycle. Finally, the simulation results demonstrate the protocol is efficient and achieve a throughput of at least 2000 transactions per second.
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Hattab, Siham, and Imad Fakhri Taha Alyaseen. "Consensus Algorithms Blockchain: A comparative study." International Journal on Perceptive and Cognitive Computing 5, no. 2 (December 15, 2019): 66–71. http://dx.doi.org/10.31436/ijpcc.v5i2.103.
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A blockchain is a Distributed Ledger Technology that has been defined as a “distributed, shared, encrypted database that serves as an irreversible and incorruptible repository of information. Blockchain can be defined as a peer-to-peer distributed ledger that is cryptographically secure, append-only, immutable and updatable only via consensus or agreement among peers. In blockchain platforms, each transaction in the public ledger is verified by consensus of the majority of the system participants in a transparent and secure way. The consensus algorithm refers to the process of attaining an unified agreement on the state of the network in a decentralized way and to facilitate the verification and validation of information being added to the blockchain. This paper aims at providing a comparison between most of the recent consensus algorithms regarding the scalability of the algorithm; the type of blockchain, node identity, the performance of the algorithm (in terms of throughput & latency) and Adversial Tolerance and to deliver a solid basis for discussions about current statistics. In this research, we also presented a new category of the Blockchain consensus algorithms, which consist of three groups as follows; the proof based on Hardware, the proof based on stake, and the proof based on voting.
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Weber, Ingo. "Keynote." ACM SIGMETRICS Performance Evaluation Review 48, no. 4 (May 17, 2021): 3. http://dx.doi.org/10.1145/3466826.3466829.
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Blockchain is a novel distributed ledger technology. Through its features and smart contract capabilities, a wide range of application areas opened up for blockchain-based innovation [5]. In order to analyse how concrete blockchain systems as well as blockchain applications are used, data must be extracted from these systems. Due to various complexities inherent in blockchain, the question how to interpret such data is non-trivial. Such interpretation should often be shared among parties, e.g., if they collaborate via a blockchain. To this end, we devised an approach codify the interpretation of blockchain data, to extract data from blockchains accordingly, and to output it in suitable formats [1, 2]. This work will be the main topic of the keynote. In addition, application developers and users of blockchain applications may want to estimate the cost of using or operating a blockchain application. In the keynote, I will also discuss our cost estimation method [3, 4]. This method was designed for the Ethereum blockchain platform, where cost also relates to transaction complexity, and therefore also to system throughput.
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Blinov, Vladimir G., and Viktoriya V. Blinova. "LEGAL REGULATION OF USING DISTRIBUTED LEDGER TECHNOLOGY IN THE SECURITIES MARKET." Oeconomia et Jus, no. 4 (December 29, 2020): 58–63. http://dx.doi.org/10.47026/2499-9636-2020-4-58-63.
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Blockchain technology currently occupies one of the central places in the economy and business; it has the potential to create new foundations for existing economic systems. For this reason there is a huge interest in studying the use of distributed ledger technology in the legal literature. However, at the same time it is necessary to note that this topic is understudied, which is due to this phenomenon's novelty. The relevance of the research topic is determined by the need to analyze in a holistic way the definitions of the concept of distributed ledger technology (blockchain), features of using the blockchain technology. The need for such research is due to the absence of a comprehensive legal regulation for the use of distributed ledger technology in the securities market. In this article the concept of blockchain technology is considered, features of its use are highlighted. It is concluded that blockchain technology can be selected for the use in the securities market, including when placing securities, conducting transactions with securities and carrying out accounting activities in the securities market, in organizing trading of financial assets and services.
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Peprah, Williams Kwasi, Reynaldo P. Abas Jr., and Akwasi Ampofo. "Applicability of Blockchain Technology to The Normal Accounting Cycle." Applied Finance and Accounting 8, no. 1 (February 22, 2022): 1. http://dx.doi.org/10.11114/afa.v8i1.5492.
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Blockchain technologyis a distributed, unchangeable ledger that makes recording transactions and managing assets in a business network much easier and nowa type of accountingsoftwareconcernedwith the transfer of assetownership and the maintenanceof anaccuratefinancial ledger. Despitethenumerousbenefits ofblockchaintechnology,there is no study on theapplicability of blockchain technologytothenormalaccountingcycle in emerging economies in Africa.Thus,thispaperprovidesgeneralinsightsonhowblockchaintechnologymaybeusedinthenormalaccountingcycle in West Africa.Thestudyadoptedaqualitativeresearchmethodandcontentanalysisresearchdesigntounderstand the extent to which business leaders in West Africa are aware, understand, and utilize blockchain technology in the processing of accounting transactions to the preparation of financial statements.Results indicatethat West African business leaders are well aware, understand and applyblockchaintechnologyapplicationsinthenormalaccountingcycle,anditprovidescostsavings,digitalidentity,andsecurity.Thestudyrecommendsfurtherinvestigationsintohowtoaddressscalabilitywhen dealingwith recurrent and large transactions.
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Cecilia Eberendu, Adanma, and Titus Ifeanyi Chinebu. "Can Blockchain be a Solution to IoT Technical and Security Issues." International Journal of Network Security & Its Applications 13, no. 6 (November 30, 2021): 123–32. http://dx.doi.org/10.5121/ijnsa.2021.13609.
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The Internet of Things (IoT) is a growing trend in technology that interconnects millions of physical devices from any location anytime. Currently, IoT devices have become an integral part of human lives, as such organizations are deeply concerned with its security and technical issues. Blockchain system comprises a distributed digital ledger which is shared among community of users on the Internet; validated and recorded transactions in the ledger which cannot be altered or removed. We presented the challenges of IoT devices and how blockchain can be used to alleviate these problems. An outline of how to integrate blockchain with IoT was tackled, highlighting the challenges of IoT and how blockchain can remedy the issues. It was concluded that blockchain has the capability to curb the challenges posed by IoT devices.
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Zhang, Xiaohui, Mingying Xue, and Xianghua Miao. "A Consensus Algorithm Based on Risk Assessment Model for Permissioned Blockchain." Wireless Communications and Mobile Computing 2022 (August 26, 2022): 1–21. http://dx.doi.org/10.1155/2022/8698009.
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Blockchain is characterized by privacy, traceability, and security features as a novel framework of distributed ledger technologies. Blockchain technology enables stakeholders to conduct trusted data sharing and exchange without a trusted centralized institution. These features make blockchain applications attractive to enhance trustworthiness in very different contexts. Due to unique design concepts and outstanding performance, blockchain has become a popular research topic in industry and academia in recent years. Every participant is anonymous in a permissionless blockchain represented by cryptocurrency applications such as Bitcoin. In this situation, some special incentive mechanisms are applied to the permissionless blockchain, such as “mined” native cryptocurrency to solve the trust issues of the permissionless blockchain. In many use cases, permissionless blockchain has bottlenecks in transaction throughput performance, which restricts further application in the real world. A permissioned blockchain can reach a consensus among a group of entities that do not establish an entire trust relationship. Unlike permissionless blockchains, the participants must be identified in permissioned blockchains. By relying on the traditional crash fault-tolerant consensus protocols, permissioned blockchains can achieve high transaction throughput and low latency without sacrificing security. However, how to balance the security and consensus efficiency is still the issue that needs to be solved urgently in permissioned blockchains. As the core module of blockchain technology, the consensus algorithm plays a vital role in the performance of the blockchain system. Thus, this paper proposes a new consensus algorithm for permissioned blockchain, the Risk Assessment-based Consensus (RAC) protocol, combined with the decentralized design concept and the risk-node assessment mechanism to address the unbalance issues of performance in speed, scalability, and security.
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Sundara, Tri, Ideva Gaputra, and Siska Aulia. "Study on Blockchain Visualization." JOIV : International Journal on Informatics Visualization 1, no. 3 (June 10, 2017): 76. http://dx.doi.org/10.30630/joiv.1.3.23.
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Blockchain as a distributed ledger system which provide underlying technology behind Bitcoin. Blockchain paradigm can be extended to provide a generalized framework for implementing decentralized compute resources. Some attempts has been made to visualize Blockchain transaction flow. This research aims to assess those attempts through systematic review.
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Vivekanadam B. "Analysis of Recent Trend and Applications in Block Chain Technology." December 2020 2, no. 4 (October 6, 2020): 200–206. http://dx.doi.org/10.36548/jismac.2020.4.003.
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Blockchain is a digital ledger in which each record known as blocks and that are combined in a single list known as a chain. It is regarded as Bitcoin’s backbone technology. It is also regarded as cohesive collections of digital wallets. Blockchains are primarily used by cryptocurrencies such as Bitcoin and other applications to record these transactions. A blockchain is commonly referred to as a collection of distributed databases that consists of all public transactions, records and digital events then that information is shared among the participants. Every transaction is verified and it cannot be removed. The main features of this technology are reliable, efficient operation, fault tolerance and scalability. Some of the applications are manufacturing, government and finance when the three properties met together (i.e., Efficiency, Scalability and Security). By using several computers, each transaction that is applied to a blockchain is validated. A peer-to-peer network is developed by these systems that are used to validate these forms of blockchain transactions. They work together to ensure that any transaction is legitimate until it is added to the blockchain, and invalid blocks cannot be added to the chain by these systems. When a new block is added, it can be connected to a previous block using a cryptographic hash and the chain cannot be broken and each block is recorded permanently. Blockchain can be used for an exchanging the transaction securely without an intermediate. It enables customer relationship and agile chain values and thereby integrating with IoT and Cloud technology. The functionality of distributed ledger is combined with blockchain security to solve the financial and non-financial industry problems. This paper proposes the blockchain technology with devices and creates a common platform and secure data communication.
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Diba Chowdhury, Laila Tamanna Anni, Md. Mahmudul Hasan, Nayeem Al-Tamzid Bhuiyan, Nafiul Islam, and Rahat Pervez. "Cryptographic ledger of blockchain technology in healthcare." GSC Advanced Research and Reviews 7, no. 3 (June 30, 2021): 028–37. http://dx.doi.org/10.30574/gscarr.2021.7.3.0117.
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Blockchain technology produced a unique nature called Public Health Record (PHR) to shared medical-related data between clients. The big achievement of this technology there is no need for any third party and user can control their personal data. This technology offers encrypted data, integrated data, drug traceability, interoperability and most important thing it gives security regarding patients' data misuse, drug counterfeit. It is distributed framework, maintenance cost, improved our medical sector.
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Jaquet-Chiffelle, David-Olivier, Eoghan Casey, and Jonathan Bourquenoud. "Tamperproof timestamped provenance ledger using blockchain technology." Forensic Science International: Digital Investigation 33 (June 2020): 300977. http://dx.doi.org/10.1016/j.fsidi.2020.300977.
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Kyrychenko, I. V., О. S. Nazarov, I. V. Gruzdo, and N. Kozel. "SECURITY IN DECENTRALIZED DATABASES." Bionics of Intelligence 1, no. 92 (June 2, 2019): 59–64. http://dx.doi.org/10.30837/bi.2019.1(92).10.
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Blockchain is a distributed network that records digital transactions on a publicly accessible ledger. This paper explores whether blockchain technology is a suitable platform for the preservation of digital signatures and public/ private key pairs. Conventional infrastructures use digital certificates, issued by certification authorities, to declare the authentication of key pairs and digital signatures. This paper suggests that the blockchain’s hash functions offer a better strategy for signature preservation than digital certificates. Compared to digital certificates, hashing provides better privacy and security. It is a form of authentication that does not require trust in a third-party authority, and the distributed nature of the blockchain network removes the problem of a single point of failure.
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Curley, Nick. "Blockchain Disruption: Digital Assets Are Changing How We Do Business." SMU Science and Technology Law Review 25, no. 2 (2022): 265. http://dx.doi.org/10.25172/smustlr.25.2.6.
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Digital assets are changing the way businesses think about equity, labor, business models, and business organization. Digital assets, like Bitcoin or Ethereum, provide incredible opportunities to further align shareholders with the objectives of the entity. Each time humanity advances its technology for ledgers, markets explode, and we witness immense wealth creation. Digital assets like Bitcoin and Ethereum are the next great step forward for ledger technology. While there are incredible opportunities to leverage this new technology, there are also incredible risks. There are many public examples of “hacks” of prominent blockchains like Ethereum and Solana. Blockchain technology has captured the imagination of the public. Blockchain, therefore, must develop a robust security system and intelligently distribute and limit liability for institutional and retail investors to reap the rewards of public attention. Part of the risk that comes from digital assets is its newness. Blockchains that run smart contracts have many incredible uses that could eliminate middlemen in many industries. But courts are yet to develop case law surrounding smart contracts. The way that smart contracts self-execute presents a new question which courts must address: how should a court allocate risk between two smart-contracting parties? No matter how the courts decide, the market needs an answer. This article attempts to explore some of the opportunities in digital assets and how these opportunities are fundamentally different from their traditional equivalents.