HomeCryptoRecent Developments in the domain of Blockchain part2

Recent Developments in the domain of Blockchain part2


Photo by Andre Taissin on Unsplash

1. Evolutionary Dynamics of Sustainable Blockchains(arXiv)

Author : Marco Alberto Javarone, Gabriele Di Antonio, Gianni Valerio Vinci, Luciano Pietronero, Carlo Gola

Abstract : The energy sustainability of blockchains, whose consensus protocol rests on the Proof-of-Work, nourishes a heated debate. The underlying issue lies in a highly energy-consuming process, defined as mining, required to validate crypto-asset transactions. Mining is the process of solving a cryptographic puzzle, incentivised by the possibility of gaining a reward. The higher the number of users performing mining, i.e. miners, the higher the overall electricity consumption of a blockchain. For that reason, mining constitutes a negative environmental externality. Here, we study whether miners’ interests can meet the collective need to curb energy consumption. To this end, we introduce the Crypto-Asset Game, namely a model based on the framework of Evolutionary Game Theory devised for studying the dynamics of a population whose agents can play as crypto-asset users or as miners. The energy consumption of mining impacts the payoff of both strategies, representing a direct cost for miners and an environmental factor for crypto-asset users. The proposed model, studied via numerical simulations, shows that, in some conditions, the agent population can reach a strategy profile that optimises global energy consumption, i.e. composed of a low density of miners. To conclude, can a Proof-of-Work-based blockchain become energetically sustainable? Our results suggest that blockchain protocol parameters could have a relevant role in the global energy consumption of this technology.

2. Secure Decentralized IoT Service Platform using Consortium Blockchain(arXiv)

Author : Ruipeng Zhang, Chen Xu, Mengjun Xie

Abstract : Blockchain technology has gained increasing popularity in the research of Internet of Things (IoT) systems in the past decade. As a distributed and immutable ledger secured by strong cryptography algorithms, the blockchain brings a new perspective to secure IoT systems. Many studies have been devoted to integrating blockchain into IoT device management, access control, data integrity, security, and privacy. In comparison, the blockchain-facilitated IoT communication is much less studied. Nonetheless, we see the potential of blockchain in decentralizing and securing IoT communications. This paper proposes an innovative IoT service platform powered by consortium blockchain technology. The presented solution abstracts machine-to-machine (M2M) and human-to-machine (H2M) communications into services provided by IoT devices. Then, it materializes data exchange of the IoT network through smart contracts and blockchain transactions. Additionally, we introduce the auxiliary storage layer to the proposed platform to address various data storage requirements. Our proof-of-concept implementation is tested against various workloads and connection sizes under different block configurations to evaluate the platform’s transaction throughput, latency, and hardware utilization. The experiment results demonstrate that our solution can maintain high performance under most testing scenarios and provide valuable insights on optimizing the blockchain configuration to achieve the best performance

3.Blockchain technologies in the design of Industrial Control Systems for Smart Cities (arXiv)

Author : Gabriela Ahmadi-Assalemi, Haider Al-Khateeb

Abstract : The proliferation of sensor technologies in Industrial Control Systems (ICS) helped to transform the environment towards better automation, process control and monitoring. However, sensor technologies expose the smart cities of the future to complex security challenges. Luckily, the sensing capabilities also create opportunities to capture various data types, which apart from operational use can add substantial value to developing mechanisms to protect ICS and critical infrastructure. We discuss Blockchain (BC), a disruptive technology with applications ranging from cryptocurrency to smart contracts and the value of integrating BC technologies into the design of ICS to support modern digital forensic readiness.

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