scholarly journals Directed Acyclic Graph-based Distributed Ledgers – An Evolutionary Perspective

2019 ◽  
Vol 9 (1) ◽  
pp. 6096-6103
Keyword(s):  
Directed Acyclic Graph ◽  
Third Party ◽  
Evolutionary Perspective ◽  
Network Systems ◽  
Distributed Ledger ◽  
Internet Users ◽  
Acyclic Graphs ◽  
Peer Network ◽  
Direct Acyclic Graphs ◽  
Peer To Peer Network

Blockchain platforms like Bitcoin and Ethereum have introduced a distributed and decentralized cryptocurrency system with no third-party intermediation required. These peer to peer network systems allows Internet users to directly transact with each other. However due to the heavy emphasis on decentralization, scalability has taken a back seat. It has also become a key issue in the wider adoption of these technologies. The change to the underlying data organizing structure to Direct Acyclic Graphs (DAG) of the distributed ledger, has significantly increased transaction scalability. In this paper, we analyse some of the Distributed Ledger Technologies that use DAGs and have shown marked improved in transaction performance without weakening security.

scholarly journals Unobtrusive monitoring: Statistical dissemination latency estimation in Bitcoin’s peer-to-peer network

PLoS ONE ◽  
2020 ◽  
Vol 15 (12) ◽  
pp. e0243475
Author(s):  
David Mödinger ◽  
Jan-Hendrik Lorenz ◽  
Rens W. van der Heijden ◽  
Franz J. Hauck
Keyword(s):  
Bayesian Model ◽  
Large Scale ◽  
Risk Estimation ◽  
Peer To Peer ◽  
Third Party ◽  
Network Resources ◽  
Connection Number ◽  
Peer Network ◽  
Time Required ◽  
Peer To Peer Network

The cryptocurrency system Bitcoin uses a peer-to-peer network to distribute new transactions to all participants. For risk estimation and usability aspects of Bitcoin applications, it is necessary to know the time required to disseminate a transaction within the network. Unfortunately, this time is not immediately obvious and hard to acquire. Measuring the dissemination latency requires many connections into the Bitcoin network, wasting network resources. Some third parties operate that way and publish large scale measurements. Relying on these measurements introduces a dependency and requires additional trust. This work describes how to unobtrusively acquire reliable estimates of the dissemination latencies for transactions without involving a third party. The dissemination latency is modelled with a lognormal distribution, and we estimate their parameters using a Bayesian model that can be updated dynamically. Our approach provides reliable estimates even when using only eight connections, the minimum connection number used by the default Bitcoin client. We provide an implementation of our approach as well as datasets for modelling and evaluation. Our approach, while slightly underestimating the latency distribution, is largely congruent with observed dissemination latencies.

scholarly journals Blockchain Technology and It’s Applications in E-Governance Services

2019 ◽  
Vol 8 (4) ◽  
pp. 5795-5802
Keyword(s):  
Supply Chain ◽  
Data Structure ◽  
Open Source ◽  
Smart Cities ◽  
Third Party ◽  
Technical Aspects ◽  
Blockchain Technology ◽  
Smart Contract ◽  
Peer Network ◽  
Peer To Peer Network

Blockchain Technology is one of the most popular technologies of present days. This technology has the capability to eliminate the requirement of third party to validate the transactions over the Peer-to-Peer network. Due to various features of Blockchain like smart contract, consensus mechanism, network transactions are completed securely, efficiently and timely. This technology is very useful in many areas including medical, IoT, e-Governance services, smart cities, taxation, supply chain, banking etc. In this paper, we discuss the Blockchain Technology in detail, its data structure, open source platform like Ethereum and Hyperledger, technical aspects of this technology, possible applications of this technology, challenges and limitations in adaptation of this technology.

Cryptocurrencies, Blockchain Technology and Sustainability

2020 ◽  
Author(s):  
Burcu Sakız ◽  
E. Ayşen Hiç Gencer
Keyword(s):  
Decentralized Control ◽  
White Paper ◽  
Central Banking ◽  
Peer To Peer ◽  
Digital Currency ◽  
Blockchain Technology ◽  
Distributed Ledger ◽  
Peer Network ◽  
Peer To Peer Network ◽  
Made In

Satoshi Nakamoto is the name used by the presumed pseudonymous person or persons believed to be the inventor of cryptocurrency Bitcoin, came up with the concept of blockchain as a core component of it when published a white paper on “BitCoin: A peer to peer electronic cash system” in 2008, blockchain technology made its public debut. Bitcoin is generally considered the first decentralized cryptocurrency and since the release of it, over 6,000 altcoins have been created. Cryptocurrencies use decentralized control as opposed to well-known, traditional centralized digital currency and also central banking systems. The decentralized control of each cryptocurrency works through distributed ledger technology, typically a blockchain. Blockchain is a system that in which a record of transactions made in cryptocurrencies are maintained across several computers/servers that are linked in a peer-to-peer network. Blockchain based applications provides many opportunities to create a more sustainable world. This paper contribute to the discussion on future avenues for sustainability especially in terms of cryptocurrencies and blockchain based platforms and services.

Has Bitcoin Achieved the Characteristics of Money?

2019 ◽  
pp. 246-254
Author(s):  
Donovan Peter Chan Wai Loon ◽  
Sameer Kumar
Keyword(s):  
Financial Institutions ◽  
Peer To Peer ◽  
Third Party ◽  
Pricing Mechanism ◽  
Goods And Services ◽  
Peer Network ◽  
Peer To Peer Network

Bitcoin is a peer-to-peer network that facilitates transactions between parties minus the proof requirement of an appointed third party (i.e., banks or financial institutions). Accurate understanding into the implementation of bitcoin can be acquired from data of the universal record of bitcoin transactions. Although data from numerous websites show that bitcoin daily transactions count has reached capacities of tens of thousands, it is widely believed that most of these transactions comprise activities between speculators and only a few are actually used for trading of goods and services. The chapter explores if bitcoin has achieved the characteristics of money. For it to survive, bitcoin must overcome the problems of its unconventional pricing mechanism, shortage of vendors who accept it, and the circuitous way of obtaining it.

Blockchain: an entangled political economy approach

2018 ◽  
Vol 33 (2) ◽  
pp. 105-125 ◽  
Author(s):  
Darcy W.E. Allen ◽  
Chris Berg ◽  
Mikayla Novak
Keyword(s):  
Political Economy ◽  
Third Party ◽  
Network Computing ◽  
Social Phenomena ◽  
Human Interactions ◽  
Blockchain Technology ◽  
Peer Network ◽  
The Impact ◽  
Peer To Peer Network ◽  
Political Economy Approach

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.

scholarly journals An Applicability of Blockchain Model in Business use Case - A Technical Approach

2021 ◽  
Author(s):  
Anitha Premkumar
Keyword(s):  
Business Models ◽  
Business Networks ◽  
Business Network ◽  
Technical Approach ◽  
Electronic Communications ◽  
Blockchain Technology ◽  
Distributed Ledger ◽  
Peer Network ◽  
Peer To Peer Network ◽  
Transaction Processing Systems

Business network brings many organizations close together to achieve their desired goals and profit from it. People from different organizations may or may not know each other but still can be part of a business network. A major challenge with these business networks is how to provide trust among people and data security. Blockchain is another means through which many organizations in the current digital age are overcoming these problems with ease. Blockchains have also changed the way the business transactions with clients take place. Blockchain is a decentralized distributed ledger in a peer to peer network which can be public or private, and it enables individuals or companies to collaborate with each other to achieve trust and transparency between business and its clients. Many implementations of blockchain technology are widely available today. Each of them have their own strengths for a specific application domain. They can fundamentally alter electronic communications with a potential to affect all sorts of transaction processing systems. However, there are still many challenges of blockchain technology waiting to be solved such as scalability and adoptability. In this paper, we provide the knowledge on Blockchain technology and we present the applicability of blockchain in the business models and also discuss the relevant use cases for Banking and Supply Chain models.

scholarly journals A Decentralized E-Voting System Based on Blockchain Network

2019 ◽  
Vol 8 (12) ◽  
pp. 3650-3652
Keyword(s):  
Peer To Peer ◽  
Third Party ◽  
Electronic Voting ◽  
Smart Contracts ◽  
Blockchain Technology ◽  
Peer Network ◽  
Voting System ◽  
Electronic Voting System ◽  
Peer To Peer Network

This paper describes a decentralized electronic voting system using blockchain technology with peer-to-peer network rather than the centralized voting system of server-client structure. In the proposed system, an Ethereum-based private blockchain network is configured and decentralized applications are implemented to store and distribute voting data to all nodes participating in the network to create secure and reliable electronic voting system. Smart contracts for electronic voting are implemented using the Solidity language and distributed to a configured network so that all users can view and vote on elections, and voting data are shared and contrasted by all users in the network, which makes it possible to build a safer and more reliable electronic voting system without third party involvement.

scholarly journals Blockchain System in the Higher Education

2021 ◽  
Vol 11 (1) ◽  
pp. 276-293
Author(s):  
Ricardo Raimundo ◽  
Albérico Rosário
Keyword(s):  
Higher Education ◽  
Third Party ◽  
Party Organization ◽  
Student Records ◽  
Research Directions ◽  
Blockchain Technology ◽  
Technological Improvement ◽  
Peer Network ◽  
Peer To Peer Network ◽  
Conceptual Progress

Blockchain has emerged as an important concept at the interface of ICT and higher education. It is a system in which a record of transactions is maintained across several computers that are linked in a peer-to-peer network. Hence, it allows the creation of a decentralized environment, where data are not under the control of any third-party organization. This study presents a Systematic Bibliometric Literature Review (LRSB in further text) of research on blockchain applications in the higher education field. The review integrated 37 articles presenting up-to-date knowledge on current implications pertaining to the use of blockchain technology for improving higher education processes. The LRSB findings indicate that blockchain is being used to build up new interventions to improve the prevailing ways of sharing, delivering and securing knowledge data and personal student records. The application of blockchain technology is carrying on a conceptual progress in the higher education sector where it has added substantial value by ameliorated efficiency, effectiveness, privacy control, technological improvement and security of data management mechanisms. Challenges posed by current literature and further research directions are suggested.

Has Bitcoin Achieved the Characteristics of Money?

2018 ◽  
pp. 2784-2790
Author(s):  
Donovan Peter Chan Wai Loon ◽  
Sameer Kumar
Keyword(s):  
Financial Institutions ◽  
Peer To Peer ◽  
Third Party ◽  
Pricing Mechanism ◽  
Goods And Services ◽  
Peer Network ◽  
Peer To Peer Network

Bitcoin is a peer-to-peer network that facilitates transactions between parties minus the proof requirement of an appointed third party; i.e. banks or financial institutions. Accurate understanding into the implementation of bitcoin can be acquired from data of the universal record of bitcoin transactions. Although, data from numerous websites show that bitcoin daily transactions count has reached capacities of tens of thousands, it is widely believed that most of these transactions comprise of activities between speculators, and only a few are actually used for trading of goods and services. The paper looks if bitcoin has achieved the characteristics of money. For it to survive, bitcoin must overcome the problems of its unconventional pricing mechanism, shortage of vendors who accept it, and the circuitous way of obtaining it.

scholarly journals Evichain: Evaluating and Scrutinizing Crime using Block Chain

2019 ◽  
Vol 8 (3) ◽  
pp. 3992-3994
Keyword(s):  
Data Access ◽  
Ideal Solution ◽  
Private Key ◽  
Distributed Ledger ◽  
Peer Network ◽  
Block Chain ◽  
Access Rights ◽  
Peer To Peer Network ◽  
Investigation Process ◽  
Made In

Evidence and witness play an important role to investigate crime and lawful jurisdiction in any case. But often, the victims do not get justice due to the middlemen and the altered evidences in the centralized network. Block chain is an ideal solution to ensure transparency till the highest hierarchy of jurisdiction using a decentralized peer to peer network to store data which is immutable. It is like a distributed ledger working on the proof of work algorithm that validates each amendment and modification made in a particular chain. Evichain inculcates the transparency and security of the same decentralized network in the crime investigation process. It is an application on which the entire data regarding any particular investigation is stored in a block chain with limited people having access rights. It also includes cases filed by the victims themselves. Every amendment made in the block chain is validated. Also the data access is restricted to the users with that specific private key

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