Blockchain-based Applications Research Articles

Context-based civic blockchain: Localising blockchain for local civic participation.

Experiments in alternative forms of urban digitalisation include blockchain-based applications as enablers of civic action in local communities, inspired by different visions than blockchain-based speculative cryptocurrencies. This article investigates how blockchain technology can be oriented towards locally embedded applications. It explores the case of a blockchain-based wallet app that aims to support social collaborative economies and civic participation in urban communities by tokenising social and economic assets. Building on studies on the embeddedness of urban digital platforms with a local character, this article studies how the app under consideration is shaped by, and adapted to, the needs and resources of local socio-economic contexts. Two pilot experimentations on the app are considered, concerning systems for rewarding civic participation and urban sharing economies. The empirical analysis concerns the methodology for introducing the app into local socio-economic contexts, the way in which local actors interpret its properties, and the resulting iterative co-design of its functionalities. The article defines and discusses the extent to which the civic blockchain is rendered context-based by this methodology, and highlights similarities and differences with other urban digital platforms. The empirical evidence drawn from this research contributes to the debate on how community members, researchers and digital experts together can realise alternative forms of urban digitalization.

Implementing Quantum Resistant Algorithm in Blockchain-Based Applications

With quantum computing evolving very fast as we speak, the security and integrity of blockchain-based applications will become the most crucial aspect. A proposal is raised to use blockchain technology as a platform for writing and probating ‘wills’. Blockchain technology in drafting and probating wills makes them safe from manipulations, highly secure, and transparent. It also dramatically decreases the time required without catering for the challenges created by the current system. [9] This paper presents a new method for will transfer and inheritance management by implementing quantum-resistant algorithms in the security architecture of a blockchain decentralized application (DApp). The system uses IPFS Network for data storage and quantum-safe algorithms as retrieval and sending algorithms. The system includes Quantum-Resistant Dilithium Signatures and Merkle trees as the fundamental components for safeguarding the transfers of assets and claims for inheritance. Quantum-Resistant Dilithium Signatures offer an unbreakable shield against quantum attacks that are expected to happen, which in turn safeguards the privacy and authenticity of transactions. While Merkle trees are responsible for the organization of inheritance claims in an effective and tamper-proof manner, the introduced system incorporates smart contracts to address the execution of an inheritance case, adding more security and automation to the asset distribution process. The system ensures a robust security framework by integrating quantum-resistant algorithms at the very core of the blockchain DApp for instance, retrieval and sending. This research is of great significance to blockchain technology which is the emerging technology of the future because it addresses the existing threat of quantum computing by showing the feasibility of using quantum-resistant algorithms in practical applications. As established by the findings, besides Quantum-Resistant Dilithium Signatures and Merkle trees, the systems of asset transfers and inheritance management within blockchain networks are enhanced in terms of safety and reliability. Hence, paving the road to the creation of more secure and trustworthy digital asset management systems.

CRYPTOCURRENCY: BUBBLE OR NEW STANDARD?

Cryptocurrency has emerged as a disruptive force in the financial landscape, raising questions about its long-term sustainability and impact on traditional financial systems. This research report examines the debate surrounding cryptocurrency, focusing on whether it represents a speculative bubble or a new standard for digital assets. Through a comparative analysis of empirical evidence, theoretical frameworks, and expert opinions, this study aims to provide insights into the dynamics of cryptocurrency markets and their implications for the future of finance. The research begins by reviewing the historical context of cryptocurrency, tracing its origins and evolution from the introduction of Bitcoin in 2009 to the proliferation of alternative cryptocurrencies and blockchain-based applications. It then explores the characteristics of financial bubbles and evaluates whether cryptocurrency exhibits similar patterns of speculative behavior, drawing on insights from economic theory and empirical research. Next, the report examines the arguments supporting cryptocurrency as a new standard for digital assets, emphasizing its potential to democratize access to financial services, promote financial inclusion, and drive innovation in finance and technology. It analyzes the underlying principles of blockchain technology and explores its applications beyond cryptocurrency, such as decentralized finance (DeFi), smart contracts, and tokenization of assets. The study also considers regulatory and policy implications surrounding cryptocurrency, highlighting the challenges faced by regulators in balancing innovation and investor protection. It reviews the regulatory approaches adopted by various jurisdictions and assesses their effectiveness in addressing concerns related to market integrity, consumer safety, and systemic risk. Overall, this research report contributes to the ongoing discourse on cryptocurrency by providing a comprehensive analysis of its status as either a speculative bubble or a new standard for digital assets. By synthesizing empirical evidence, theoretical frameworks, and expert opinions, it offers valuable insights into the potential opportunities and challenges posed by cryptocurrency for the future of finance and the global economy.

The Industry 5.0 (I50) paradigm, blockchain-based applications and the smart city

PurposeAgainst the background of the I50 paradigm, this paper queries in what ways blockchain and blockchain-based applications deployed in the smart city context facilitate the integration of the I50 paradigm in smart urban contexts.Design/methodology/approachA mixed methods approach is applied. First, by means of desk research and thematic literature review, a conceptual model integrating the I50 paradigm, smart city and blockchain-based solutions is built. Second, science mapping bibliometric analysis (SciMat) based on keywords’ co-occurrence is applied to a sample of 491 research articles to identify key domains of blockchain-based applications’ use in smart city. Third, a semi-systematic literature review complements insights gained through SciMat. Fourth, the findings are interpreted through the precepts of the conceptual model devised earlier.FindingsThe key blockchain-based applications in smart cities pertain to two domains, i.e. the foundational, service facilitation-oriented domain, including security (and safety), networks, computing, resource management and the service delivery-oriented domain, including mobility, energy and healthcare. Blockchain serves as the key building block for applications developed to deliver functions specific to each of the thus identified domains. A substantial layering of blockchain-based tools and applications is necessary to advance from the less to the more complex functional domains of the smart city.Originality/valueAt the conceptual level, the intricacies of the (making of the) I50 paradigm are discussed and a case for I50 – smart city – blockchain nexus is made. Easton’s input–output model as well as constructivism is referenced. At the empirical level, the key major domains of blockchain-based applications are discussed; those that bear the prospect of integrating the I50 paradigm in the smart city are highlighted. At the methodological level, a strategic move is made aimed at restoring the literature review’s role as subservient to the key line of exploration, to justify and ultimately support it, rather than to showcase the literature review as the ultimate purpose for itself.

An Efficient and Scalable Framework for Decentralized Finance Application Using Blockchain Interoperability

In recent years, blockchain technology has drawn a lot of attention, especially in the field of decentralised finance (De-Fi). However, scalability problems have come to light as a significant obstacle to the broad use of blockchain-based applications. To solve the issue of scalability, this paper has created a decentralised finance application with three main components: the addition of more liquidity to the swapping application, the implementation of a Polygon Proof of Stake bridge to enable efficient asset transfers, and the ability to transfer tokens between accounts seamlessly regardless of network agnosticism. The first feature, network agnostic capabilities for interoperability, facilitates token transfers between blockchain networks, allowing users to access and transact across them with ease The second component, the Polygon Proof-of-Stake bridge, makes asset transfers more efficient by taking advantage of the Polygon network's scalability advantages, which drastically lower transaction costs and processing times. Finally, adding more liquidity to the swapping programme makes it more scalable by guaranteeing that there is enough money for transactions, which prevents delays and bottlenecks. The scalability issue with blockchain technology is efficiently resolved by adding these three characteristics to the decentralised finance application, creating new opportunities for the mass acceptance and utilisation of blockchain-based financial services.

An Efficient and Scalable Framework for Decentralized Finance Application Using Blockchain Interoperability

In recent years, blockchain technology has drawn a lot of attention, especially in the field of decentralised finance (De-Fi). However, scalability problems have come to light as a significant obstacle to the broad use of blockchain-based applications. To solve the issue of scalability, this paper has created a decentralised finance application with three main components: the addition of more liquidity to the swapping application, the implementation of a Polygon Proof of Stake bridge to enable efficient asset transfers, and the ability to transfer tokens between accounts seamlessly regardless of network agnosticism. The first feature, network agnostic capabilities for interoperability, facilitates token transfers between blockchain networks, allowing users to access and transact across them with ease The second component, the Polygon Proof-of-Stake bridge, makes asset transfers more efficient by taking advantage of the Polygon network's scalability advantages, which drastically lower transaction costs and processing times. Finally, adding more liquidity to the swapping programme makes it more scalable by guaranteeing that there is enough money for transactions, which prevents delays and bottlenecks. The scalability issue with blockchain technology is efficiently resolved by adding these three characteristics to the decentralised finance application, creating new opportunities for the mass acceptance and utilisation of blockchain-based financial services.

Blockchain Use Cases in the Sports Industry: A Systematic Review

AbstractSince its inception, Blockchain Technology, the underlying technology of Bitcoin has gained a lot of popularity and interest in various industries, varying from the healthcare industry, Internet-of-Things, smart grid, and supply chain management. Sports is one industry where blockchain can have significant breakthroughs where it can reshape the way the sports industry works by providing reliable athlete data management, secure mechanisms for data sharing, reforming the event management practices, collectibles traceability, and many more, but so far its impact is overshadowed by the hype surrounding the use of fan tokens and Non-Fungible-Tokens (NFT) collectibles. This paper aims to provide a systematic review of the ongoing research on the application of blockchain in the sports industry. this work shows that many studies have proposed different use cases for the application of blockchain in the sports industry on and off the field and targeting different stakeholders. However, we inferred a lack of adequate prototype implementations to evaluate the effectiveness of these proposed use cases. We further highlighted the technical details of the implementation of these blockchain-based applications, their limitations, and challenges, and proposed some solutions to support the integration of blockchain in this domain. The findings of this work will be beneficial for researchers, policymakers, and practitioners in the sports industry.

VM Matters: A Comparison of WASM VMs and EVMs in the Performance of Blockchain Smart Contracts

Beyond an emerging popular web applications runtime supported in almost all commodity browsers, WebAssembly (WASM) is further regarded to be the next-generation execution environment for blockchain-based applications. Indeed, many popular blockchain platforms such as EOSIO and NEAR have adopted WASM-based execution engines. Most recently, WASM has been favored by Ethereum, the largest smart contract platform, to replace the state-of-the-art EVM. However, whether and how well current WASM outperforms EVM on blockchain clients is still unknown. This article conducts the first measurement study to understand the performance on WASM VMs and EVM for executing smart contracts for blockchain-based applications. To our surprise, the current WASM VM does not provide expected satisfactory performance. The overhead introduced by WASM is really non-trivial. Our results shed the light on challenges when deploying WASM in practice, and provide insightful implications for improvement space.

Blockchain Technology: A Framework for Endless Applications

Over the last decade, Blockchain Technology has evolved from being a peer-to-peer implementation of digital currency into a framework for numerous applications. That is, blockchain is widely recognized as the technology behind cryptocurrencies such as Bitcoin, but recent research indicates that it can be exploited way more than that. Among the most notable characteristics of the Blockchain Technology are system decentralization, data immutability, transaction transparency, and user privacy. Thus, it becomes apparent that it can significantly benefit many consumer applications, where trust and security are crucial aspects of the implementation. In this paper, we review and present, in a tutorial manner, blockchain's fundamental postulates and characteristics, and we introduce a novel point of view, where we visualize a layered representation of the blockchain infrastructure, so as to analyze it as a framework. Thinking of Blockchain Technology as a framework may assist consumers to better understand its capabilities and limitations. Additionally, we review emerging blockchain-based applications that span across many different scientific fields. We also discuss the relative merits and restrictions. Namely, we have identified applications in finance, smart contracts, internet of things, e-voting systems, storage and data protection, reputation systems, healthcare, and transportation, indicating that the Blockchain Technology is becoming a framework for endless applications.

Toward designing highly effective and efficient consensus mechanisms for blockchain-based applications

Toward designing highly effective and efficient consensus mechanisms for blockchain-based applications

NFTs for the Issuance and Validation of Academic Information That Complies with the GDPR

The issuance and verification of academic certificates face significant challenges in the digital era. The proliferation of counterfeit credentials and the lack of a reliable, universally accepted system for issuing and validating them pose critical issues in the educational domain. Certificates, traditionally issued by centralized educational institutions using their proprietary systems, pose challenges for straightforward verification, generating uncertainty about the credibility of academic achievements. In addition to diplomas issued by academic entities, it is now necessary in virtually all professional fields to stay updated and obtain accreditation for certain skills or experiences, which is a determining factor in securing or enhancing employment. Yet, there is no platform available to consistently demonstrate these capabilities and experiences. This article introduces a novel model for issuing and verifying academic information using non-fungible tokens (NFTs) supported by blockchain technologies, focused on compliance with the General Data Protection Regulation (GDPR). It describes a model that grants control to the data subject, enabling the management of information access while adhering to key GDPR principles. Simultaneously, it remains compatible with existing systems within organizations, and is flexible in certifying various types of academic information. The implications of this model are discussed, emphasizing the importance of addressing privacy in blockchain-based applications.

SENTIMENT ANALYSIS OF WEB 3.0 ENABLED TWITTER DATASET

In this paper, the focus is on sentiment analysis of web 3.0 enabled twitter dataset. The objective of the project is to explore various methods for performing sentiment analysis on Twitter datasets and implementing these methods on the web3.0 Twitter platform. The project involves collecting Twitter data through blockchain-based applications, preprocessing the data to remove noise, and applying machine learning models for sentiment analysis. Sentiment analysis is simply the extraction of thoughts, ideas, opinions, and emotions from sources such as text, speech, tweets, and databases using natural language processing (NLP) This process involves text segmentation mentally makes it "good," "bad," and "neutral" groups. In addition, it is known by other terms such as objective evaluation, mindfulness mining, and rating extraction. Web 3.0, also known as Web3, represents the third contemplated iteration of the World Wide Web, which aspires to establish a connected, transparent and intelligent online environment Based on the concept of decentralization, blockchain technology and the implementation of token-based economies. The main outcome of the project is to gain insights into the sentiment of users by analyzing WEB3.0 enabled Twitter data. By implementing sentiment analysis techniques on a WEB3.0 enabled Twitter dataset, the project aims to contribute to the field of sentiment analysis and showcase the effectiveness of using WEB3.0 enabled for data collection and analysis. The project aims to provide valuable insights for various methods of sentiment analysis for researchers. Keywords – Sentiment Analysis, Blockchain- Enabled, Twitter data, WEB 3.0, Machine Learning Models, User Sentiment, Research Contribution

MV-Checker: A software tool for multi-valued model checking intelligent applications with trust and commitment

Intelligent applications are highly susceptible to uncertainty and inconsistency due to the intense and intricate interactions among their autonomous components (or agents), making their verification theoretically and practically challenging. This paper presents the design and implementation of a new open-source and scalable software tool for modeling and verifying intelligent applications with commitment and trust protocols under both uncertainty and inconsistency settings, using reduction-based multi-valued model checking techniques. The proposed tool is equipped with original and novel algorithms that transform our logics of multi-valued commitment (mv-CTLC) and multi-value trust (mv-TCTL) that we recently introduced to their classical two-valued commitment (CTLC) and trust (TCTL) logic versions as well as to Computational Tree Logic (CTL). Moreover, the tool transforms the mv-CTL to CTL, and it is applicable for the classical model checking by transforming the classical logics of trust and commitment to CTL. To demonstrate the practicality and applicability of the proposed tool in real settings, we present and report experimental results over two blockchain-based applications in the healthcare domain. Finally, we provide discussions and comparisons between the proposed approaches regarding scalability and efficiency. Moreover, we provide packages of more than 11 experiments, including the ones we conduct in this paper and enhanced experiments from previous works. Our findings ensure that the proposed approaches and the software tool that implements them are highly efficient and scalable, giving accurate results under varying conditions.

Data Management Challenges in Blockchain-Based Applications

Data Management Challenges in Blockchain-Based Applications

A Comprehensive Performance Analysis of a Hyperledger Fabric-powered Blockchain Network for Cross-Border Fund Transfers

Ample acceptance of Blockchain Technology in today's business world has increased number of use cases tremendously beyond cryptocurrencies for which it was originally developed. Hyperledger Fabric, as an enterprise-grade permissioned Blockchain platform, offers a secure and scalable infrastructure for diverse applications, including financial services. Since performance evaluation of the platform play major role in acceptability of the technology for various applications, in this research article we are presenting a comprehensive performance analysis of the Hyperledger Fabric Blockchain platform with the help of standard benchmarking tool-Hyperledger Caliper for Cross-Border Fund Transfer (CBFT) application and results are validated using existing queuing theory based theoretical model for Hyperledger Fabric. The primary objective of this study is to evaluate the most popular Blockchain platform's performance under various workloads and network conditions. By capturing the interactions between network participants and consensus mechanisms, we have presented latency analysis along with the insights into the platform's scalability and efficiency. This research contributes to a deeper understanding of Blockchain technology and aids in the design of more efficient and robust Blockchain-based applications.

NBSOC framework for team structure to develop blockchain-based applications

NBSOC framework for team structure to develop blockchain-based applications

THE EVOLUTION OF SMART CONTRACT PLATFORMS: A LOOK AT CURRENT TRENDS AND FUTURE DIRECTIONS

Blockchain-based smart contracts are self-running computer programs that can automate a variety of commercial activities. Currently, the majority of these decentralized applications are developed using smart contract platforms like Polkadot, Cardano, and Ethereum. In addition to analyzing current technology developments and prospective future applications, this article provides a historical review of smart contract platforms. The study emphasizes the significance of smart contract platforms for supporting blockchain-based applications and enabling decentralized finance (DeFi). It also looks at the emergence of layer-2 scaling solutions, the introduction of non-fungible tokens (NFTs), and the growing need of interoperability among different smart contract platforms. The article also looks at the potential for multi-chain smart contracts, the effects of quantum computing, the integration of AI and ML technologies with smart contract platforms, and the potential for smart contract platforms to support decentralized autonomous organizations (DAOs). The difficulties of expanding smart contract platforms, the requirement for uniformity in the creation of smart contracts, and the potential for smart contract platforms to revolutionize sectors like healthcare, real estate, and supply chain management are also covered. The paper emphasizes the significance of ongoing innovation and development in smart contract platforms for the expansion of the blockchain ecosystem as it draws to a close.

Blockchain Integration in Artificial Intelligence: Benefits, Applications, Research Challenges

Now-a-days block chain and artificial intelligence are the two emerging technologies. Both strategies bring change to the market, but the level of creativity and complexity varies. Block chain is a decentralized and distributed ledger technology which is used for storing information in multiple locations without any centralized monitoring system. Artificial intelligence imitates the problem-solving capability of human mind and decision making abilities by using computers, data, and sometimes machines. When both technologies are merged, their formed new opportunities and possibilities from the advantages of both, like productivity gain and the security and transparency. The convergence of AI with blockchain technology can bring a wide change in businesses by securing data , transparent data, and making it overall efficient. One of the most useful concepts of the two technologies is in cybersecurity. The technologies, which combine the capabilities of AI with the block chain's dependable, scattered nature, may be utilized to enable management of recourses and decision making in areas such as education, impact on society, healthcare, agricultural production, urban planning, and others. Artificial intelligence (AI) is capable of helping detect and react to risks, whereas the integrity and security of information may be ensured using blockchain technology. A comprehensive survey of various applications of blockchain for AI has been completed. Evaluated various literature based on the technologies, and the new blockchain-based applications, mediums, and technological advances that target the AI sector were collected and summarized. In addition, Open research issues concerning the use of blockchain technology for AI are addressed.

Visualization with Prediction Scheme for Early DDoS Detection in Ethereum.

Blockchain technologies have gained widespread use in security-sensitive applications due to their robust data protection. However, as blockchains are increasingly integrated into critical data management systems, they have become attractive targets for attackers. Among the various attacks on blockchain systems, distributed denial of service (DDoS) attacks are one of the most significant and potentially devastating. These attacks render the systems incapable of processing transactions, causing the blockchain to come to a halt. To address the challenge of detecting DDoS attacks on blockchains, existing visualization schemes have been developed. However, these schemes often fail to provide early DDoS detection since they typically display only past and current system status. In this paper, we present a novel visualization scheme that not only portrays past and current values but also forecasts future expected system statuses. We achieve these future predictions by utilizing polynomial regression with blockchain data. Additionally, we offer an alternative DDoS detection method employing statistical analysis, specifically the coefficient of determination, to enhance accuracy. Through our experiments, we demonstrate that our proposed scheme excels at predicting future blockchain statuses and anticipating DDoS attacks with minimal error. Our work empowers system managers of blockchain-based applications to identify and mitigate DDoS attacks at an earlier stage.

Toward Sensor Measurement Reliability in Blockchains.

In this work, a secure architecture to send data from an Internet of Things (IoT) device to a blockchain-based supply chain is presented. As is well known, blockchains can process critical information with high security, but the authenticity and accuracy of the stored and processed information depend primarily on the reliability of the information sources. When this information requires acquisition from uncontrolled environments, as is the normal situation in the real world, it may be, intentionally or unintentionally, erroneous. The entities that provide this external information, called Oracles, are critical to guarantee the quality and veracity of the information generated by them, thus affecting the subsequent blockchain-based applications. In the case of IoT devices, there are no effective single solutions in the literature for achieving a secure implementation of an Oracle that is capable of sending data generated by a sensor to a blockchain. In order to fill this gap, in this paper, we present a holistic solution that enables blockchains to verify a set of security requirements in order to accept information from an IoT Oracle. The proposed solution uses Hardware Security Modules (HSMs) to address the security requirements of integrity and device trustworthiness, as well as a novel Public Key Infrastructure (PKI) based on a blockchain for authenticity, traceability, and data freshness. The solution is then implemented on Ethereum and evaluated regarding the fulfillment of the security requirements and time response. The final design has some flexibility limitations that will be approached in future work.