Understanding Modern Banking Ledgers Through Blockchain Technologies: Future of Transaction Processing and Smart Contracts on the Internet of Money

Embracing inapt infrastructure technology is a major threat in developing extensive and efficient Web-based systems. The architectural strength of all business models demands an effective integration of various technological components. Middleware, the center of all applications, becomes the driver—everything works if middleware does. In the recent times, the client/server environment has experienced sweeping transformation and led to the notion of the “Object Web.” Web browser is viewed as a universal client that is capable of shifting flawlessly and effortlessly between various applications on the Internet. This paper attempts to investigate middleware and the facilitating technologies, and point toward the latest developments, taking into account the functional potential of the on-market middleware solutions, as well as their technical strengths and weaknesses. The paper would describe various types of middleware, including database middleware, Remote Procedure Call (RPC), application server middleware, message-oriented middleware (MOM), Object Request Broker (ORB), transaction-processing monitors and Web middleware, etc., with on-market technologies.

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Blockchain’s future: can the decentralized blockchain community succeed in creating standards?

The Knowledge Engineering Review ◽

10.1017/s0269888920000016 ◽

2020 ◽

Vol 35 ◽

Author(s):

John Flood ◽

Adrian McCullagh

Keyword(s):

Alternative Methods ◽

The Internet ◽

Smart Contracts ◽

Internal Conflicts ◽

Blockchain Technology ◽

The Way

Abstract Nakamoto proposed a new solution to transact value via the internet. And since 2009, blockchain technology has expanded and diversified. It has, however, proven to be inefficient in the way it achieves its outcomes, especially through the proof of work protocol. Other developers are promoting alternative methods but, as yet, none has superseded proof of work. The competing protocols illuminate a key feature of the blockchain community, namely, its inability to create consensus in a decentralized community. Because of this lack of consensus, the formation of standards is particularly difficult to achieve. At best standards are contested sites, and we examine three such sites where some form of agreement over standards will be essential if blockchain is to evolve successfully. These three sites are blockchain governance, smart contracts, and interoperability of blockchains. We argue that because standards’ formation is a contested and contingent process, the blockchain community will persist in creating difficulties and barriers for itself until it is able to resolve internal conflicts.

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The Green Blockchains of Circular Economy

Electronics ◽

10.3390/electronics10162008 ◽

2021 ◽

Vol 10 (16) ◽

pp. 2008

Author(s):

George Hatzivasilis ◽

Sotiris Ioannidis ◽

Konstantinos Fysarakis ◽

George Spanoudakis ◽

Nikos Papadakis

Keyword(s):

Circular Economy ◽

Data Driven ◽

The Internet ◽

Learning Approach ◽

Smart Contracts ◽

Business Logic ◽

The Core ◽

Contract Type ◽

Computationally Intensive ◽

The Internet Of Things

Eco-friendly systems are necessitated nowadays, as the global consumption is increasing. A data-driven aspect is prominent, involving the Internet of Things (IoT) as the main enabler of a Circular Economy (CE). Henceforth, IoT equipment records the system’s functionality, with machine learning (ML) optimizing green computing operations. Entities exchange and reuse CE assets. Transparency is vital as the beneficiaries must track the assets’ history. This article proposes a framework where blockchaining administrates the cooperative vision of CE-IoT. For the core operation, the blockchain ledger records the changes in the assets’ states via smart contracts that implement the CE business logic and are lightweight, complying with the IoT requirements. Moreover, a federated learning approach is proposed, where computationally intensive ML tasks are distributed via a second contract type. Thus, “green-miners” devote their resources not only for making money, but also for optimizing operations of real-systems, which results in actual resource savings.

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A blockchain-based IoT trust model

10.32920/ryerson.14654073.v1 ◽

2021 ◽

Author(s):

Sarah Asiri

Keyword(s):

Heterogeneous Network ◽

Trust Model ◽

The Internet ◽

Smart Contracts ◽

Implicit Trust ◽

Multiple Devices ◽

Iot Devices ◽

Permissioned Blockchains ◽

The Internet Of Things ◽

Different Levels

The Internet of Things (IoT) is a heterogeneous network of interconnected objects or ‘things’ that are typically connected via the Internet. Trust in most IoT networks is presumed implicitly. This implicit trust assumption can be abused by adversaries to disrupt the network and manipulate reputations of trusted devices. To tackle IoT trust issues, we use permissioned blockchains that utilize Smart Contracts (executable policies) to evaluate and refine IoT devices’ trust. Blockchains replicate a permanent append-only record of all transactions occurring on a network on multiple devices. This prevents adversaries from modifying previous transactions to influence trust evaluations. In this thesis, we propose an IoT trust model that uses Blockchains to record and validate IoT devices’ identities and dynamically evaluates the trustworthiness of devices in the IoT network. Moreover, our model allows for different levels of security based on the sensitivity of data being transmitted across the IoT network.

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