Ethereum Blockchain Research Articles

Fractional non‐fungible tokens: Overview, evaluation, marketplaces, and challenges

AbstractFractional non‐fungible tokens (NFTs) have emerged at the forefront of blockchain innovation, merging tokenization, NFTs, and fractional ownership to democratize access to high‐value digital assets. In this paper, we explore the fundamental concepts of blockchain technology, smart contracts, NFTs, and tokenization to lay the groundwork for understanding fractional NFTs. We investigate key ERC standards, including ERC‐20, ERC‐721, and ERC‐1155, which are pivotal in enabling the creation and management of fractional NFTs on the Ethereum blockchain. Then, we present two major processes in fractional NFTs, minting and reconstitution. We develop fractional NFTs based on ERC standards and evaluate their gas consumption. Furthermore, through a comprehensive review of existing platforms, we analyze their minting and reconstitution processes and underlying ERC standards. Challenges, such as regulatory compliance and security, are also examined. We highlight the significance of robust security measures and transparency to build trust in fractional NFT ecosystems. While the field is still evolving, fractional NFTs have the potential to disrupt traditional ownership models and revolutionize industries. We envision fractional NFTs fostering a more inclusive and decentralized digital economy as technology advances and adoption grows.

EDIT: A data inspection tool for smart contracts temporal behavior modeling and prediction

Modeling and predicting the behavior of nodes and users in blockchains provide opportunities for business strategy optimization. Indeed, the number of interactions of a node is strictly related to its balance and its prediction may be used for analytics purposes and investment strategies. However, the amount and diversity of information stored on the blockchain demand advanced tools for the modeling and analysis of blockchain data. Such tools should be able to capture the dynamicity and interaction of multiple independent actors, considering a large number of variables and dynamic interaction graph topologies. This is exacerbated by the use of smart contracts, programs stored in blockchain blocks that bring automation to blockchain’s operations and thus increasing the variability of the resulting interaction graphs. Existing modeling methodologies are unable to keep track of all these details, as they are not able to capture the temporal variability of the network.In this paper, we propose a novel framework for modeling and predicting the behavior of smart contracts on a blockchain. We propose the concept of temporal smart contracts networks, i.e., graphs representing the temporal evolution of interactions and data flow. Our framework allows the creation of temporal smart contract networks with different granularity levels by considering different interaction patterns between smart contracts, externally owned accounts, and internal transactions. Thanks to these graphs, we are able to model features such as the node in degree and amount of ether received by a smart contract, which are directly related to its behavior. We incorporate our modeling approach in Ethereum Data Inspection Tool (EDIT), a novel tool able to model interactions and predict them based on historical data. We test different machine learning models to predict features extracted by EDIT, hence allowing for the prediction of the overall behavior of the smart contract. We test EDIT on the Ethereum blockchain and model several temporal smart contracts networks, which represent the interactions and the data flow resulting from about 4 000 000 consecutive blocks. The evaluation of different real case studies shows that the proposed framework is able to predict, with a mean absolute error close to 1%, the evolution of several interesting properties (e.g., amount of received ether) related to both accounts and smart contracts.

Time-Varying Bidirectional Causal Relationships between Transaction Fees and Economic Activity of Subsystems Utilizing the Ethereum Blockchain Network

The Ethereum blockchain network enables transaction processing and smart-contract execution through levies of transaction fees, commonly known as gas fees. This framework mediates economic participation via a market-based mechanism for gas fees, permitting users to offer higher gas fees to expedite processing. Historically, the ensuing gas fee volatility led to critical disequilibria between supply and demand for block space, presenting stakeholder challenges. This study examines the dynamic causal interplay between transaction fees and economic subsystems leveraging the network. By utilizing data related to unique active wallets and transaction volume of each subsystem and applying time-varying Granger causality analysis, we reveal temporal heterogeneity in causal relationships between economic activity and transaction fees across all subsystems. This includes (a) a bidirectional causal feedback loop between cross-blockchain bridge user activity and transaction fees, which diminishes over time, potentially signaling user migration; (b) a bidirectional relationship between centralized cryptocurrency exchange deposit and withdrawal transaction volume and fees, indicative of increased competition for block space; (c) decentralized exchange volumes causally influence fees, while fees causally influence user activity, although this relationship is weakening, potentially due to the diminished significance of decentralized finance; (d) intermittent causal relationships with maximal extractable value bots; (e) fees causally influence non-fungible token transaction volumes; and (f) a highly significant and growing causal influence of transaction fees on stablecoin activity and transaction volumes highlight its prominence. These results inform strategic considerations for stakeholders to more effectively plan, utilize, and advocate for economic activities on Ethereum, enhancing the understanding and optimization of within the rapidly evolving economy.

Secure Goods Storage and Anti-Theft Approach using Ethereum Blockchain

At present, technological systems lack a secure and transparent method for tracking goods and preventing theft in e-commerce, leading to trust issues and data vulnerabilities. There is a pressing need for a comprehensive solution that integrates Ethereum blockchain, IPFS, and advanced cryptographic techniques to address these challenges and enhance the security and transparency of transactions. This research paper presents a robust system that harnesses the Ethereum blockchain, IPFS (Interplanetary File System), and advanced cryptographic algorithms to create a secure, decentralized approach for tracking goods and preventing theft incidents. Unique identifiers and related information will be sent to the mail of the customer and same should entered by the customer for successful transaction. By assigning unique identifiers to purchased products and employing cryptographic techniques to encrypt sensitive data, our system ensures both user privacy and the creation of an immutable transaction ledger. Users can efficiently manage their purchased goods, block stolen items, and communicate with sellers through an intuitive interface. Additionally, the system provides sellers with a comprehensive transaction history, enhancing accountability and transparency within the supply chain. Through this research, we demonstrate the effectiveness of our blockchain based anti-theft measures, underpinned by Ethereum, IPFS, and cutting-edge cryptographic algorithms, in fostering secure, trustless transactions. This work highlights the transformative potential of blockchain technology and decentralized protocols in revolutionizing security and transparency across diverse sectors.

Cost-Optimized Dynamic Access Control Policy Using Blockchain and Machine Learning for Enhanced Security in IoT Smart Homes

The rapid adoption of Internet of Things (IoT) devices in smart homes has led to growing security vulnerabilities, primarily due to the limitations of traditional, static access control mechanisms. This paper presents a novel, dynamic access control policy that leverages the immutable and transparent nature of Blockchain technology, specifically Ethereum, along with machine learning algorithms to enhance security measures. By integrating machine learning algorithms like Support Vector Machines (SVM) and Neural Networks, the proposed system can adapt and respond to changing behavioural patterns and potential threats in real time. Additionally, a caching mechanism implemented on the Ethereum Blockchain is introduced to optimize system performance and reduce latency. Experimental results demonstrate significant improvements in access control security, system efficiency, and adaptability. The findings of this paper not only contribute to the advancement of secure access control policies for IoT smart homes but pave the way for future research in integrating Blockchain and machine learning for robust and scalable IoT security solutions.

Optimal Gas Fee Minimization in DeFi: Enhancing Efficiency and Security on the Ethereum Blockchain

Optimal Gas Fee Minimization in DeFi: Enhancing Efficiency and Security on the Ethereum Blockchain

Enabling Attribute-based Access Control for OpenStack Cloud Resources through Smart Contracts

The increasing complexity of cloud computing has prompted a greater emphasis on protecting the privacy, integrity, and security of data stored and processed in the cloud. Data privacy is safeguarded through access control, but existing models such as Role Based Access Control (RBAC) and Attribute Based Access Control (ABAC) rely on a centralized server. If this server is compromised, it poses significant risks to data security. To address this issue, there is a need for Distributed ABAC (DABAC) system for OpenStack services based on blockchain. The unique features of blockchain enables access control systems which ensures data integrity and privacy. Additionally, blockchain offers a level of transparency for both the resource owner and a user. In this work, we propose a smart contract based ABAC system. We implemented the proposed work using an Ethereum blockchain and OpenStack cloud. Furthermore, we evaluated two consensus algorithms for scalability analysis of DABC mechanism. The results demonstrate that DABAC performs better than ABAC in ensuring fine-grade access control with proof of stake consensus algorithm providing better scalability.

Reliable and Sustainable Product Evaluation Management System Based on Blockchain

To facilitate the consumers’ online shopping, it is very necessary to build a reliable and sustainable product evaluation management (PEM) system to store, secure, and retrieve the evaluation data of products. To this end, we propose a novel PEM system based on blockchain technologies. In this PEM system, the evaluation data of products including evaluation scores and comments are stored in the interplanetary file system (IPFS), and then the data hash addresses are returned and stored on the blockchain. Then, the retrieval of evaluation data is implemented by designing and deploying smart contracts on the Ethereum blockchain. Since it is almost impossible to change any data stored in blockchain and IPFS, the proposed PEM system can protect the comment data from intentional or unintentional modifications. Moreover, the proposed PEM system allows users to efficiently and reliably retrieve the relevant evaluation data of a certain product by a given query keyword with the increase of data stored on the blockchain. In addition, to achieve high sustainability, the proposed system also contains an economic incentive mechanism, which is beneficial to form a virtuous circle in online shopping. The proposed system is simulated on the popular blockchain platform, i.e., Ethereum with Solidity programming language. The experimental results and analysis demonstrate that the proposed PEM system achieves desirable usability, reliability, and sustainability.

Immutable COVID-19 Vaccination Certificate using Blockchain

The COVID-19 pandemic has presented numerous challenges around the world, including lockdowns, remote working and studying, and travel restrictions imposed by governments to curb the spread of the virus. As vaccines have become more widely available, restrictions have begun to ease for those vaccinated. Many countries use paper-based COVID-19 vaccination certificates to prove vaccination status. However, traditional certificates are vulnerable to forgery and counterfeiting. We developed a blockchain-based system where vaccination certificates are stored and accessed via smart contracts on an Ethereum blockchain. The certificates are stored in a tamper-proof, decentralized manner, ensuring secure verification of vaccination status. This research project successfully designed and implemented a system that securely stores and verifies vaccination certificates using blockchain, demonstrating the benefits of this approach. According to our knowledge, this is the first kind of research initiative in Brunei to develop a blockchain-based immutable COVID-19 Vaccination certificate. Despite its advantages, blockchain still has its flaws, particularly in scalability and adoption, which should be considered for further optimization of the proposed system.

B-FEF-blockchain based framework to exchange files

Blockchain-based systems have proven to be efficient and capable of resolving the majority of security issues relating to exchange transactions in the system. As a result, it became necessary to move away from the problems of the existence of third parties in the system with an important level of trust; a decentralized method of transferring digital files was created. In this paper we present B-FEF-Blockchain Based Framework to Exchange Files. This solution uses IPFS and the Ethereum blockchain. The suggested method offers irreversible and irreversible records of the transmission and reception of documents. In the work system, it is available to all participants who have successfully registered and depending on the smart contract offered by Ethereum blockchain to start sending and receiving documents according to available applications or needs. In the end, the results of the B-FEF model showed that a single transaction costs about 0.387020062 Ether, that is, it showed a positive side in terms of the total cost rate. Also, in comparison with the methods previously presented in five of the previous researches and based on assessments based on eight basic criteria, the analyses supported our claim that the proposed model fulfills all these criteria. As for the basic trio of confidentiality, integrity and availability analysis, the proposed model proved to meet these fundamentals.

Blockchain Technology in Commercial Real Estate: Developing a Conceptual Design for Smart Contracts

Commercial real estate transaction processes are inherently complex, multi-faceted, and multifarious due to multiple intermediaries, a high volume of signed documentation, high costs, and the illiquid nature of these transactions. An emerging area in blockchain technology is smart contracts which hold much potential to transform the commercial real estate industry through the digitalization of decentralized business models that ensure transaction transparency and validity. Despite the potential benefits of smart contracts, their use in the commercial real estate industry is at a nascent stage. In response to this gap, this study proposes a novel approach using Ethereum blockchain technology to enable intermediaries to transact in an informationally symmetrical way within an open real estate in Switzerland. The proposed conceptual model employs tokenisation on the blockchain and is developed using the action design science research methodology. The model undergoes several stages of evolution from pre-design, which is validated through expert interviews, to arrive at the final conceptual design. The study identifies key factors that influence the application of blockchain in real estate transactions, namely adoption, governance and compliance, transaction costs, transparency and immutability, security, and scalability. The results indicate that smart contracts have the potential to significantly reduce transaction costs and improve efficiency in the commercial real estate industry.

Blockchain technology for pay-for-outcome sustainable agriculture financing: implications for governance and transaction costs

Pay-for-outcome financing mechanisms have been used to address agricultural runoffs to overcome the inefficiencies associated with push-based solutions, which are dependent on subsidies or philanthropic funding. As a market-based approach, pay-for-outcome platforms seek to incentivize sustainable practices, compensated by beneficiaries of the positive outcomes. Execution of pay-for-outcome financing mechanisms in an agriculture context is a complex transaction, involving investors, farmers, third party verifiers of outcomes, government and corporate beneficiaries, and thus requires a costly governance structure. Effective governance mechanisms are needed to meet the transaction costs identified in performance measurements. This study investigates the efficacy of blockchain technology to address transaction costs in pay-for-outcome financing for sustainable agriculture. Through a proof-of-concept, this study quantifies and explores the potential cost-saving benefits of utilizing blockchain. The proof-of-concept is an application of blockchain within a pay-for-outcome incentive model, namely the Soil and Water Outcomes Fund, for sustainable agriculture. Utilizing the Ethereum blockchain, transactions are facilitated through crypto wallets and a hybrid smart contract, while precipitation is used as a proxy for agricultural runoff measurements. Drawing from Transaction Cost Economics theory, a discussion is presented on how blockchains can reduce transaction costs, enhancing the governance and efficiency of pay-for-outcome mechanisms. Furthermore, the article presents blockchain transaction fees in the context of the scale of operations, considering the total number of participants in the Soil and Water Outcomes Fund. Our findings indicate that blockchain technology has the capacity to simplify intricate transactions, boost measurement accuracy, cut administrative expenses, and foster trust and transparency among stakeholders, thereby reducing the overall transaction costs associated with pay-for-outcome incentives. While blockchain has its limitations and is not a universally applicable solution for every type of transaction cost, we believe that blockchains are well-suited to facilitate pay-for-outcome financing such as the Soil and Water Outcomes Fund.

Cybersecurity Anomaly Detection: AI and Ethereum Blockchain for a Secure and Tamperproof IoHT Data Management

Cybersecurity Anomaly Detection: AI and Ethereum Blockchain for a Secure and Tamperproof IoHT Data Management

Data Biasing Removal with Blockchain and Crowd Annotation

In today's world of internet marketing product review plays a crucial role. Often E-Commerce companies are accused of manipulating with the data and it suffers from biasing. Biasing leads to wrong customer's view creation thereby prediction for a top rating product fails. This study shows how crowd annotation prevents this biasness and thereby design a smart contract which ultimately will help to eliminate the data manipulation. The smart contract is deployed and tested to see if data can be saved in the run time storage memory regions of the Ethereum blockchain, and the test results are positive. In future this will help to get the unbiased data and better machine learning results, which will ultimately be beneficial for the economy.

BLOCKCHAIN-BASED MANAGEMENT FOR ORGAN DONATION AND TRANSPLANTATION

Today’s organ donation and transplantation systems pose different requirements and challenges in terms of registration, donor-recipient matching, organ removal, organ delivery, and transplantation with legal, clinical, ethical, and technical constraints. Therefore, an end-to-end organ donation and transplantation system is required to guarantee a fair and efficient process to enhance patient experience and trust. In this paper, we propose a private Ethereum blockchain based solution to enable organ donation and transplantation management in a manner that is fully decentralized, secure, traceable, auditable, private, and trustworthy. We develop smart contracts and present six algorithms along with their implementation,testing, and validation details. We evaluate the performance of the proposed solution by performing privacy, security,and confidentiality analyses as well as comparing our solution with the existing solutions.

JABS: A Blockchain Simulator for Researching Consensus Algorithms

The consensus algorithm is fundamental to the decentralization property of blockchain technology. Developing blockchain networks and consensus algorithms necessitates the analysis of variables on large global-scale networks through experiments. However, conducting experiments on test networks is expensive due to the high cost of necessary infrastructure. In this paper, JABS (Just Another Blockchain Simulator), a simulator specifically designed for researching large-scale blockchain consensus algorithms, is introduced. Superior performance in simulating real-world scale blockchain networks compared to other frameworks is demonstrated in this paper. JABS is faster, more efficient, and produces accurate results that are comparable to measurements from Bitcoin and Ethereum blockchain networks. JABS' modularity, which allows for the easy substitution of components without changing others, is highlighted. Additionally, JABS aids in the design and evaluation of new consensus algorithms. Improving the CasperFFG consensus algorithm is proposed and its improved performance using JABS is demonstrated.

Blockchain - Decentralized Bookmaker

Blockchain has become one of the great drivers of technological evolution of nowadays, making industries interested in the possible applications of that technology. One of the sectors that can benefit from this technology is the online betting industry. According to Statista, the total value of transactions carried out in this industry will be 92.9 billion dollars in 2023. Therefore, the need to make transactions more transparent is undoubtedly one of the main requirements of the betting industry, which promotes continuous technological development in the search for ideal solutions.This “technology” allows the creation of records that cannot be falsified. The applicability of this technology in the betting industry can be very attractive in terms of ensuring greater transparency in transactions.Furthermore, in order to decentralize the organization, it is also intended to implement a DAO governance model. This model aims to solve a centralized governance problem and, therefore, consists of governance based on the code and not on a single person/entity.In the scope of this paper, it was possible to demonstrate through a proof-of-concept solution, the applicability of Blockchain and the DAO governance model in a bookmaker. Thie solution was designed and implemented on the Ethereum Blockchain platform, using smart contracts. The results obtained in the comparison study showed that the solution is viable and presents advantages compared to traditional solutions.

BLOCKCHAIN TECHNOLOGIES AND THE FUTURE OF ART

In this paper, we follow the position of art, artists and works of art with regard to the conditions in which the work of art is created, in an environment ruled by capitalist relations and the high-tech environment that accompanies them. The transition from analog to digital formats has opened new perspectives for artistic creation and distribution of works of art, but also problems related to copyright protection and fair monetization of works of art. The advent of blockchain technology, especially the Ethereum blockchain platform with open source technology and smart contracts, has enabled more efficient communication, distribution and monetization of artwork. The focus of this paper is especially narrowed on the emergence of NFT (Non Fungible Tokens) that can be carriers of the value of a work of art. They enable the uniqueness of the work to be maintained through controlled scarcity. We will present the ERC-721 standard, which enables the creation of NFT, as well as the first five leading platforms for placing NFT tokens on the blockchain through selected examples.

Anomaly detection in smart contracts based on optimal relevance hybrid features analysis in the Ethereum blockchain employing ensemble learning

Anomaly detection in smart contracts based on optimal relevance hybrid features analysis in the Ethereum blockchain employing ensemble learning

Digital Certificate Security: A Blockchain-based Approach for Fraud Prevention and Verification

With the rise of digitalization and increased internet usage, digital certificates' security issues have gained significant importance. The utilization of counterfeit certificates can lead to deceptive identity and capability verifications, allowing untrustworthy individuals to assume misleading positions. Simultaneously, factors such as data leaks and technical glitches can jeopardize the security of certificates. These challenges can complicate talent verification processes and result in unsuitable individuals being placed in incorrect roles. The proposed work aims to thwart forged certificates and ensure their verifiability within this context. The methodology employed in the study strives to mitigate potential data loss or accessibility problems by adopting a decentralized storage structure. The primary objective is to establish certificates that are reliable, traceable, and capable of being verified. A rapid and efficient user interface was developed using React.js to achieve this aim. Smart contracts were scripted on the Ethereum blockchain using Solidity, and data, including user information and certificate details, were stored within components like MongoDB. In the phase of practical implementation, diverse scenarios have been designed to facilitate the generation, verification, and monitoring of certificates. The proposed approach is geared towards deterring forgery and enhancing the credibility of certificates. Through this system, users and organizations can authenticate certificates and prevent the proliferation of counterfeit ones. Furthermore, the enhanced security and ease of sharing certificates on digital platforms offer substantial advantages to certificate holders. In summary, this study strives to enhance the safeguarding and dependability of certificates by addressing the security concerns posed by the era of digitalization.