scholarly journals Consensus Algorithms Blockchain: A comparative study

2019 ◽  
Vol 5 (2) ◽  
pp. 66-71
Author(s):  
Siham Hattab ◽  
Imad Fakhri Taha Alyaseen
Keyword(s):  
Comparative Study ◽  
Peer To Peer ◽  
The State ◽  
Verification And Validation ◽  
Consensus Algorithm ◽  
Consensus Algorithms ◽  
The Public ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Encrypted Database

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.

scholarly journals Sustainable Public Spending Through Blockchain

2020 ◽  
Vol 9 (4) ◽  
pp. 317
Author(s):  
Judit Glavanits
Keyword(s):  
Best Practices ◽  
Financial Markets ◽  
Public Spending ◽  
The State ◽  
The Public ◽  
Digital Currency ◽  
Blockchain Technology ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Industrial Use

Blockchain technology and its industrial use cases can be detected worldwide. It is time for the state to think about the blockchain as an opportunity to reduce costs and build trust in the public spending. The paper and the presentation give an overview on how the state can apply the distributed ledger technology (DLT) and blockchain technology in the public administration: there are several countries with best practices already, and even more are in the introduction phase of opening to Industry 4.0 in the public services as well. On the field of FinTech area the state has great responsibility to regulate (or at least define) the phenomena of cryptocurrencies, that is already in use for more than 10 years now without any responsible governmental acts. Within this topic the Central Bank Digital Currency projects are also discussed in the paper, which are supported by IMF, and declared as the next natural step forward on financial markets. Keywords: blockchain, DLT, SDG, public spending

scholarly journals The State-of-the-Art Technology of Currency Identification

2017 ◽  
Vol 9 (3) ◽  
pp. 58-72 ◽  
Author(s):  
Guangyu Wang ◽  
Xiaotian Wu ◽  
WeiQi Yan
Keyword(s):  
Feature Extraction ◽  
New Zealand ◽  
Comparative Study ◽  
State Of The Art ◽  
The State ◽  
Classification Algorithms ◽  
Security Issue ◽  
The Public ◽  
Us Dollar ◽  
Chinese Yuan

The security issue of currency has attracted awareness from the public. De-spite the development of applying various anti-counterfeit methods on currency notes, cheaters are able to produce illegal copies and circulate them in market without being detected. By reviewing related work in currency security, the focus of this paper is on conducting a comparative study of feature extraction and classification algorithms of currency notes authentication. We extract various computational features from the dataset consisting of US dollar (USD), Chinese Yuan (CNY) and New Zealand Dollar (NZD) and apply the classification algorithms to currency identification. Our contributions are to find and implement various algorithms from the existing literatures and choose the best approaches for use.

The State-of-the-Art Technology of Currency Identification

2018 ◽  
pp. 252-269
Author(s):  
Guangyu Wang ◽  
Xiaotian Wu ◽  
WeiQi Yan
Keyword(s):  
Feature Extraction ◽  
New Zealand ◽  
Comparative Study ◽  
State Of The Art ◽  
The State ◽  
Classification Algorithms ◽  
Security Issue ◽  
The Public ◽  
Us Dollar ◽  
Chinese Yuan

The security issue of currency has attracted awareness from the public. De-spite the development of applying various anti-counterfeit methods on currency notes, cheaters are able to produce illegal copies and circulate them in market without being detected. By reviewing related work in currency security, the focus of this paper is on conducting a comparative study of feature extraction and classification algorithms of currency notes authentication. We extract various computational features from the dataset consisting of US dollar (USD), Chinese Yuan (CNY) and New Zealand Dollar (NZD) and apply the classification algorithms to currency identification. Our contributions are to find and implement various algorithms from the existing literatures and choose the best approaches for use.

scholarly journals A Game Model for Incentive Mechanism of Distributed Nodes in Supply Chains

2021 ◽  
Vol 2021 ◽  
pp. 1-10
Author(s):  
Jingjing Jiang ◽  
Aobo Lyu
Keyword(s):  
Supply Chain ◽  
Incentive Mechanism ◽  
Operation Mode ◽  
Game Model ◽  
The Public ◽  
Digital Currency ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
The Incentive Mechanism ◽  
Reward Mechanism

This study aims to solve the credit problems in the supply chain commodity and currency circulation links from the perspective of the ledger, while the game model method has been adopted. The research firstly reviews the relationship between distributed ledger technology and the essential functions of currency. Then, by constructing two-agent single-period and multi-period game models in the entire supply chain, the researchers analysed the incentive mechanism and equilibrium solution of distributed nodes of Central Bank Digital Currency (CBDC). The results of this study include the incentive mechanism and optimization of distributed nodes based on licensed distributed ledger technology, which is an important issue that CBDC faces when performing currency functions. The implications of this study mainly cover the limitations of the underlying technology of the public chain and its reward mechanism in the supply chain management and provide support for the rationality of the CBDC issuance mechanism based on state-owned commercial banks, which provides a reference for the CBDC practice. The main value of the research not only serves the decision-making department of the CBDC issuance but also provides ideas on the operation mode of digital currency for the field of digital currency research.

scholarly journals Decentralized Factoring for Self-Sovereign Identities

Electronics ◽  
2021 ◽  
Vol 10 (12) ◽  
pp. 1467
Author(s):  
Nasibeh Mohammadzadeh  ◽  
Sadegh Dorri Nogoorani  ◽  
José Luis Muñoz-Tapia 
Keyword(s):  
Main Property ◽  
Use Case ◽  
Entry Barrier ◽  
The Public ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Personally Identifiable Information ◽  
Cost Efficient

Invoice factoring is a handy tool for developing businesses that face liquidity problems. The main property that a factoring system needs to fulfill is to prevent an invoice from being factored twice. Distributed ledger technology is suitable for implementing the platform to register invoice factoring agreements and prevent double-factoring. Several works have been proposed to use this technology for invoice factoring. However, current proposals lack in one or several aspects, such as decentralization and security against corruption, protecting business and personally identifiable information (PII), providing non-repudiation for handling disputes, Know-Your-Customer (KYC) compliance, easy user on-boarding, and being cost-efficient. In this article, a factoring registration protocol is proposed for invoice factoring registration based on a public distributed ledger which adheres to the aforementioned requirements. We include a relayer in our architecture to address the entry barrier that the users have due to the need of managing cryptocurrencies for interacting with the public ledger. Moreover, we leverage the concept of Verifiable Credentials (VCs) for KYC compliance, and allow parties to implement their self-sovereign identities by using decentralized identifiers (DIDs). DIDs enable us to relay on the DIDComm protocol for asynchronous and secure off-chain communications. We analyze our protocol from several security aspects, compare it to the related work, and study a possible business use case. Our evaluations demonstrate that our proposal is secure and efficient, as well as covers requirements not addressed by existing related work.

scholarly journals Block-chain Reaction: Why Development of Blockchain is at the Heart of the Legal Technology of Tomorrow

2019 ◽  
Vol 19 (01) ◽  
pp. 58-60
Author(s):  
Kimberley Rust
Keyword(s):  
Peer To Peer ◽  
Chain Reaction ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Block Chain ◽  
Legal Technology

Blockchain, arguably the most discussed and promising of FinTech trends, has incredible potential to transform legal technology. Infamous as the technology behind cryptocurrencies, distributed ledger technology (DLT) has developed far beyond these origins and may prove far more valuable than the currency it supports. As a form of DLT, blockchain allows for secure decentralisation of peer-to-peer, irreversible exchanges, providing a transparent and irrevocable record as these occur. The technology is already used across the legal industry and a plethora of opportunities to extend its application bubble beneath the surface, under development, waiting to break into the current market.

scholarly journals A Decentralized, Secure, Peer-to-Peer Multi-Voting System on Ethereum Blockchain

2021 ◽  
Vol 9 (10) ◽  
pp. 1354-1359
Author(s):  
Ashmita Pandey
Keyword(s):  
Electoral System ◽  
Peer To Peer ◽  
Third Parties ◽  
Smart Contracts ◽  
Time Loss ◽  
Consensus Protocol ◽  
Distributed Ledger ◽  
Smart Contract ◽  
Distributed Ledger Technology ◽  
Voting System

Abstract: A decentralised, Secure, Peer-to-Peer Multi-Voting System on Ethereum Blockchain is a distributed ledger technology (DLT) that permits virtual votes to be transacted in a peer-to-peer decentralized network. Those transactions are validated and registered through every node of the network, so creating a transparent and immutable series of registered events whose truthfulness is supplied through a consensus protocol. Smart contract automates the execution of agreement that runs routinely as soon as the conditions are satisfied. Smart contract would not need any third parties consequently prevents time loss. By Eliminating the requirement for third parties, consequently, allows numerous processes to be extra efficient and economical. The system is secure, reliable, and anonymous. Smart contract is enforced for the Ethereum network using the Ethereum wallets and also the Solidity language. Users are capable of submit their votes immediately from their Ethereum wallets, and those transaction requests is handled with the consensus of each single Ethereum node. This creates a transparent environment for evoting. A lot of concerning efficiency of the peer-to-peer decentralized electoral system on Ethereum network along with application and the outcomes of implementation are provided in this paper. Keywords: Blockchain, Distributed Ledger Technology (DLT), Consensus Protocol, Smart Contracts, Ethereum, Solidity

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