Execution Of Transactions Research Articles

CLASSIFICATION OF LEGAL PROVISIONS REGULATING RELATIONS, THE OBJECT OF WHICH IS ELECTRONIC AND DIGITAL MONEY

The article is devoted to the classification of legal provisions regulating relations, the object of which is electronic and digital money. It was determined that legal provisions are the first element of the mechanism of legal regulation of relations, the object of which is electronic and digital money. The legal rules establishing the procedure for the provision of financial payment services by electronic money issuers for the issuance of electronic money and the execution of payment transactions with them (regulatory legal rules) are differentiated into the following groups: legal rules establishing the procedure for opening and maintaining electronic wallets; legal rules establishing requirements for issuers of electronic money and their commercial agents; legal rules establishing the procedure for issuing electronic money; legal rules establishing the procedure for repayment of electronic money; legal rules establishing restrictions on the use of electronic money; legal rules establishing the specifics of performing payment transactions with electronic money. Legal rules regulating relations, the object of which is digital money (regulatory legal rules), are differentiated into the following groups: legal rules establishing the procedure for issuing digital money; legal rules establishing the procedure for storing digital money; legal rules establishing the procedure for repayment of digital money; legal rules establishing the specifics of performing payment transactions using digital money. It is proved that the system of atypical legal provisions regulating relations, the object of which is electronic and digital money, is not extensive (its truncated), since it does not include various types of prescriptions that do not have specific rules of behavior.

Blockchain Scalability with Proof of Descriptor

Blockchain networks use consensus mechanisms so that participants can exchange transactions without the need to rely on a trusted third party. Consensus mechanisms using Proof of Work burn significant energy to select a block miner, and this delay limits performance. Other consensus mechanisms such as Proof of Stake or Practical Byzantine Fault Tolerance still designate a single validator to append a block to the chain, preventing blocks from being built and published in parallel. In this paper we introduce a new consensus mechanism, Proof of Descriptor, enabling clients to work together to publish blockchain transactions using a descriptor object which stores information on the cooperative parallel execution of transactions. Proof of Descriptor consensus allows commutative transactions to be mined concurrently. It does not require a single leader to append transactions to the ledger, enabling clients to cooperate on publishing transactions. We also propose a novel graph-based ledger with multiple entry points to facilitate the scalability of Proof of Descriptor, as well as a secure hashing scheme to resist long-range-attacks. We demonstrate that our approach is as secure as related works with respect to a malicious leader, 51% attack, and other known blockchain vulnerabilities. Furthermore, our experimental evaluation shows that our approach scales with the size of the network, experiencing up to a 4x improvement in throughput over the fastest sequential blockchain, Solana .

A Proposed Secure Wearable Device Payment System Based on Blockchain Technology

Given that they are employed in several services, wearable technology is growing in popularity. The wristwatch gathers several types of personal information. Consumers may find gadgets convenient, but there are also security dangers that alert users to the possibility of cybersecurity breaches, device intrusions, and vulnerability-exploiting. Hacking may make the collected data visible since devices are vulnerable to assault. Issues with these devices include security flaws, Bluetooth troubles, and the absence of authentication and location tracking. The Internet of Things (IoT) includes wearable gadgets as cogs in the wheel that might have an effect on the banking and financial industries. Therefore, since blockchain technology has gained a lot of attention recently and is now one of the most popular ways to securely transfer data through decentralised peer-to-peer systems, it is imperative to employ its security capabilities on the existing IoT-based wearable payment system. A secure, decentralised transaction execution process is made possible by blockchain, an unchangeable ledger. It has a great reputation and more customers thanks to its complex yet safe technique. Based on blockchain technology, this research suggested a secure wearable device payment system.

Legal analysis of derivative transactions in islamic economics

The legal position regarding derivative transactions in Islamic economic practices has attracted significant attention from Islamic financial institutions such as AAOIFI and DSN-MUI. Derivative instruments can be incorporated into the sharia framework as long as they fulfil the core principles of sharia such as being free from elements of riba (interest), gharar (uncertainty), and maysir (gambling). These bodies have issued guidelines and fatwas such as the DSN-MUI fatwa No. 96/DSN-MUI/IV/2015, which permits the use of derivatives for hedging purposes under a number of strict requirements that ensure transparency and fairness and emphasizes that transactions are based on real needs and not speculation. However, implementing these legal guidelines on the ground faces various challenges. Key challenges include correctly applying derivative instruments so that they do not turn into prohibited tools of malicious speculation. Strict supervision and audit systems are needed to ensure compliance with Shariah principles on an ongoing basis, as well as ensuring transparency in the execution of transactions. In addition, in-depth training and education for Islamic finance practitioners is essential to support proper and effective implementation. Thus, the legal position regarding derivative transactions in the Islamic economy is clear and feasible to implement with strict supervision and supported by continuing education.

The administrative procedure for granting permission by the body of guardianship and guardianship for the execution of transactions with respect to immovable property, the right of ownership of which or the right of use of which the child has

Ensuring the proper administrative procedure and transparency in the activities of the guardianship and guardianship authority regarding the granting of permission to commit acts where the child has the right of ownership and use is one of the main directions of observing the property rights and interests of children in a democratic society and should be guaranteed and protected by the state. In connection with the armed aggression of the Russian Federation and in the conditions of military actions against Ukraine, an acute problem arises of the proper protection of the rights and interests of children in relation to the property in which the child has the right of ownership and use, and the proper control of the body of guardianship and care over their execution and compliance by all authorities and local self-government of the procedure for adopting and granting the appropriate permission for the implementation of the provisions of normative legal acts in compliance with the provisions of the new Law of Ukraine “On Administrative Procedure”. In connection with the adoption of the Law of Ukraine “On Administrative Procedure”, which introduces the institution of interested persons, i.e. another person whose right, freedom or legitimate interest is negatively affected or may be affected by an administrative act (Article 27 of the Law), the issue of obtaining consent arises not only parents and legal representatives of the child to obtain the appropriate permission of the body of guardianship and guardianship regarding the execution of transactions with the property owned and/or used by the child, as well as other co-owners of the given property, whose rights and interests may be violated when the relevant administrative act is adopted. In addition, conflicting issues that are not regulated in the current legislation of Ukraine regarding the refusal and/or suspension of the consideration of an administrative case when the guardianship authority grants permission to commit transactions with property owned and/or used by a child are considered. The article examines the advantages and disadvantages of these norms and the conflicting gaps that exist in the administrative procedure for obtaining the permission of the body of guardianship and care for the execution of transactions regarding real property, the ownership of which or the right to use which the child has.

Blockchain-based concept for total site heat integration: A pinch-based smart contract energy management in industrial symbiosis

Industrial symbiosis has gained prominence in pursuing sustainable industrial practices, aiming to optimise resource utilisation and reduce environmental impacts. A critical aspect of this endeavour is the efficient management of energy resources within an industrial ecosystem. This paper presents a novel approach to enhance Total Site Heat Integration (TSHI) implementations by employing Blockchain as a facilitator for decentralised energy management. TSHI is an efficient and widely applied method for industrial symbiosis concerning energy flows, which employs the steam mains in site utility systems as the platform for exchanging heat between industrial processes at various temperature levels. It is shown that the synergy of Pinch Analysis and Smart Contract technologies is capable of facilitating energy integration of processes belonging to independent market actors, compared with the currently dominant integration inside a single company. The proposed framework leverages Blockchain as a distributed ledger to enable secure, transparent, and automated energy management across multiple industrial entities in an industrial symbiotic network. The integration of Pinch Analysis principles ensures that the Heat Integration process is optimised to improve the overall energy efficiency. Smart contracts enable automatic negotiation and execution of energy transactions based on predefined rules, minimising the time lag for concluding deals on energy resource exchange and conservation. This paper examines several scenarios to illustrate the implementation of the proposed Blockchain-based TSHI concept within an industrial symbiosis network. It is demonstrated that up to 16 % cost savings are possible by simply enabling transparency via Blockchain. The results could drive innovative development to revolutionise decentralised energy management in a complex industrial ecosystem, especially by synchronising energy exchanges in time.

Reform of Stock Market Activity in Ukraine

The article examines in detail measures to improve stock market activity in Ukraine, their prerequisites, and consequences. Currently, exchange trading takes place exclusively in the electronic system. The activities of the exchanges are aimed at administering the electronic trading system to ensure its functioning. The mechanisms for carrying out exchange trades have been unified, and the procedure for conducting trades, accreditation, monitoring the execution of contracts, and sanctioning violators has been improved, making it impossible to engage in shadow deals or hide sums to avoid taxes. The exchange acts as a guarantor of the execution of transactions. These measures should contribute to the transparency and formalization of economic transactions, increasing their reliability. Additionally, these improvements are expected to enhance investor confidence, attracting both domestic and international investments. By reducing the opportunities for fraudulent activities and tax evasion, the Ukrainian stock market can achieve greater stability and credibility. Furthermore, the standardization and modernization of trading procedures can streamline operations, making the market more efficient and accessible. This, in turn, could lead to increased market participation and liquidity, fostering a more vibrant and dynamic financial environment. Overall, these reforms are crucial for the sustainable development of Ukraine's stock market and its integration into the global financial system.

B-LPoET: A middleware lightweight Proof-of-Elapsed Time (PoET) for efficient distributed transaction execution and security on Blockchain using multithreading technology

A private permissioned chain is typically considered a fully protected authorized blockchain. The concept of a permissioned chain has become better single-entity control operation over the network and allows entry only to selected nodes, which most probably supports different small-medium enterprises and government officials. It is one of the prominent features of blockchain technology that maintains transaction integrity and security throughout the deliverance. This paper initially highlights the benefits of a permissioned private chain. Present the current issues of the Proof-of-Elapsed Time consensus mechanism for the distributed applicational environment. In order to make blockchain systems more adaptive for private chains, this paper proposes a middleware lightweight consensus based on PoET, named “B-LPoET”. Objecting to being improved as a lightweight PoET from the predefined PoET in terms of verifying transactions and creating more blocks, to decide the mining right, and participants allows to acknowledge their identities before joining. The design of B-LPoET reduces the cost of multi-node efficiency by establishing a lightweight topology for selecting and waiting time of winning node using multithreading, which affects positively by increasing systems scalability. The experimental results of the B-LPoET illustrate that it performs better as compared with the existing PoET and other state-of-the-art consensus.

Blockchain-Based Zero-Trust Supply Chain Security Integrated with Deep Reinforcement Learning for Inventory Optimization

Modern supply chain systems face significant challenges, including lack of transparency, inefficient inventory management, and vulnerability to disruptions and security threats. Traditional optimization methods often struggle to adapt to the complex and dynamic nature of these systems. This paper presents a novel blockchain-based zero-trust supply chain security framework integrated with deep reinforcement learning (SAC-rainbow) to address these challenges. The SAC-rainbow framework leverages the Soft Actor–Critic (SAC) algorithm with prioritized experience replay for inventory optimization and a blockchain-based zero-trust mechanism for secure supply chain management. The SAC-rainbow algorithm learns adaptive policies under demand uncertainty, while the blockchain architecture ensures secure, transparent, and traceable record-keeping and automated execution of supply chain transactions. An experiment using real-world supply chain data demonstrated the superior performance of the proposed framework in terms of reward maximization, inventory stability, and security metrics. The SAC-rainbow framework offers a promising solution for addressing the challenges of modern supply chains by leveraging blockchain, deep reinforcement learning, and zero-trust security principles. This research paves the way for developing secure, transparent, and efficient supply chain management systems in the face of growing complexity and security risks.

Enhancing Global Blockchain Privacy via a Digital Mutual Trust Mechanism

Blockchain technology, initially developed as a decentralized and transparent mechanism for recording transactions, faces significant privacy challenges due to its inherent transparency, exposing sensitive transaction data to all network participants. This study proposes a blockchain privacy protection algorithm that employs a digital mutual trust mechanism integrated with advanced cryptographic techniques to enhance privacy and security in blockchain transactions. The contribution includes the development of a new dynamic Byzantine consensus algorithm within the Practical Byzantine Fault Tolerance framework, incorporating an authorization mechanism from the reputation model and a proof consensus algorithm for robust digital mutual trust. Additionally, the refinement of homomorphic cryptography using the approximate greatest common divisor technique optimizes the encryption process to support complex operations securely. The integration of a smart contract system facilitates automatic and private transaction execution across the blockchain network. Experimental evidence demonstrates the superior performance of the algorithm in handling privacy requests and transaction receipts with reduced delays and increased accuracy, marking a significant improvement over existing methods.

T-Watch: Towards Timed Execution of Private Transaction in Blockchains

T-Watch: Towards Timed Execution of Private Transaction in Blockchains

Rashnu: Data-Dependent Order-Fairness

Distributed data management systems use state Machine Replication (SMR) to provide fault tolerance. The SMR algorithm enables Byzantine Fault-Tolerant (BFT) protocols to guarantee safety and liveness despite the malicious failure of nodes. However, SMR does not prevent the adversarial manipulation of the order of transactions, where the order assigned by a malicious leader differs from the order in that transactions are received from clients. While order-fairness has been recently studied in a few protocols, such protocols rely on synchronized clocks, suffer from liveness issues, or incur significant performance overhead. This paper presents Rashnu , a high-performance fair ordering protocol. Rashnu is motivated by the fact that fair ordering among two transactions is needed only when both transactions access a shared resource. Based on this observation, we define the notion of data-dependent order fairness where replicas capture only the order of data-dependent transactions and the leader uses these orders to propose a dependency graph that represents fair ordering among transactions. Replicas then execute transactions using the dependency graph, resulting in the parallel execution of independent transactions. We implemented a prototype of Rashnu where our experimental evaluation reveals the low overhead of providing order-fairness in Rashnu.

Supply Chain Management in Agriculture Using Blockchain Technology

Block chains, now firmly established, are a digital system that combines data management, incentive systems, cryptography, and networking to enable the execution, recording, and verification of transactions between parties. Even while the original goal of block chain technology was to facilitate new forms of digital currency that would enable easier and more secure payment methods, they have enormous promise as a new foundation for all kinds of transactions. Agribusiness stands to gain a lot from this technology by leveraging it as a platform to conduct "smart contracts" for transactions, especially for high-value goods. Before we go any further, it is important to distinguish between distributed ledgers and block chain technologies and private digital currencies. Given the distributed and global character of digital currencies such as Bitcoin, it is improbable that central banks will be able to adequately oversee the underlying protocols. Monetary authorities are primarily concerned with understanding the "on-ramps" and "off-ramps" that comprise the links to the traditional payments system, rather than being able to monitor and manage the money itself. In contrast to the digital currency component of the block chain, the distributed ledger aspect holds great potential for application in trade and agriculture funding, especially in scenarios where multiple partners are involved and a dependable central authority is lacking

Gas‐centered mutation testing of Ethereum Smart Contracts

AbstractSmart contracts (SC) are programs embodying certain business logic stored on a blockchain network like Ethereum. The execution of transactions on SC has a cost, measured in gas units, that depends on the low‐level operations performed. Therefore, a poor choice of high‐level language constructs could lead to overcharging users for their transactions. Thus, a testing process focused on possible deviations of the gas used in diverse scenarios could provide substantial global savings. This paper presents a gas‐centered mutation testing approach for taking care of the gas consumed by Solidity SCs. This approach can be useful to improve the test quality to detect gas‐related problems, reason about performance issues that only manifest in certain situations, and identify alternative more optimal implementations. We define and implement several mutation operators specifically designed to perturb gas consumption while preserving contract semantics in general. Our experiments using several real‐world SCs show the feasibility of the technique, with some mutants reproducing meaningful differences in the consumption and exposing some gas limits not tight enough in historic transactions. Therefore, our approach is shown to be a good ally to prevent the appearance of gas‐related issues and lays the groundwork for researchers seeking to improve performance testing practices.

Юридические пороки сделки, совершенной пользователем недр, по отчуждению вскрышных и вмещающих горных пород, содержащих общераспространенные полезные ископаемые

The article is devoted to the analysis of the problem of the legality of a transaction for the disposal of overburden and host rocks containing common minerals on the part of the subsoil user. During the analysis of legal regulations on subsoil use, civil legislation and judicial practice, legal defects were identified that entail the impossibility of execution and invalidity of the relevant transaction as a legal fact and legal relationship. The legal impossibility of executing the contract in question was revealed due to the presence of a suspensive condition established by law when concluding it, as well as a defect in the subject composition, suggesting the possibility of challenging this transaction on the grounds that the subsoil user does not have a license issued by a constituent entity of the Russian Federation. Based on the results of the study, proposals and recommendations were formulated for making changes and additions to the norms of the current legislation regulating the analyzed social relations.

GethReplayer: a smart contract testing method based on transaction replay

PurposeSmart contracts are written in high-level programming languages, compiled into Ethereum Virtual Machine (EVM) bytecode, deployed onto blockchain systems and called with the corresponding address by transactions. The deployed smart contracts are immutable, even if there are bugs or vulnerabilities. Therefore, it is critical to verify smart contracts before deployment. This paper aims to help developers effectively and efficiently locate potential defects in smart contracts.Design/methodology/approachGethReplayer, a smart contract testing method based on transaction replay, is proposed. It constructs a parallel transaction execution environment with two virtual machines to compare the execution results. It uses the real existing transaction data on Ethereum and the source code of the tested smart contacts as inputs, conditionally substitutes the bytecode of the tested smart contract input into the testing EVM, and then monitors the environmental information to check the correctness of the contract.FindingsExperiments verified that the proposed method is effective in smart contract testing. Virtual environmental information has a significant effect on the success of transaction replay, which is the basis for the performance of the method. The efficiency of error locating was approximately 14 times faster with the proposed method than without. In addition, the proposed method supports gas consumption analysis.Originality/valueThis paper addresses the difficulty that developers encounter in testing smart contracts before deployment and focuses on helping develop smart contracts with as few defects as possible. GethReplayer is expected to be an alternative solution for smart contract testing and provide inspiration for further research.

DataMesh+: A Blockchain-Powered Peer-to-Peer Data Exchange Model for Self-Sovereign Data Marketplaces.

In contemporary data-driven economies, data has become a valuable digital asset that is eligible for trading and monetization. Peer-to-peer (P2P) marketplaces play a crucial role in establishing direct connections between data providers and consumers. However, traditional data marketplaces exhibit inadequacies. Functioning as centralized platforms, they suffer from issues such as insufficient trust, transparency, fairness, accountability, and security. Moreover, users lack consent and ownership control over their data. To address these issues, we propose DataMesh+, an innovative blockchain-powered, decentralized P2P data exchange model for self-sovereign data marketplaces. This user-centric decentralized approach leverages blockchain-based smart contracts to enable fair, transparent, reliable, and secure data trading marketplaces, empowering users to retain full sovereignty and control over their data. In this article, we describe the design and implementation of our approach, which was developed to demonstrate its feasibility. We evaluated the model's acceptability and reliability through experimental testing and validation. Furthermore, we assessed the security and performance in terms of smart contract deployment and transaction execution costs, as well as the blockchain and storage network performance.

Ordered scheduling in control-flow distributed transactional memory

Consider the control-flow model of transaction execution in a distributed system modeled as a communication graph where shared objects positioned at nodes of the graph are immobile but the transactions accessing the objects send requests to the nodes where objects are located to read/write those objects. The control-flow model offers benefits to applications in which the movement of shared objects is costly due to their sizes and security purposes. In this paper, we study the ordered scheduling problem of committing dependent transactions according to their predefined priorities in this model. The considered problem naturally arises in areas, such as loop parallelization and state-machine-based computing, where producing executions equivalent to a priority order is needed to satisfy certain properties. Specifically, we study ordered scheduling considering two performance metrics fundamental to any distributed system: (i) execution time - total time to commit all the transactions and (ii) communication cost - the total distance traversed in accessing required shared objects. We design scheduling algorithms that are individually or simultaneously efficient for both the metrics and rigorously evaluate them through several benchmarks on random and grid graphs, validating their efficiency. To our best knowledge, this is the first study of ordered scheduling in the control-flow model of distributed transaction execution.

Supply Chain Management in Agriculture using Blockchain

Block chains are now firmly established as a digital technology that combines cryptographic, data management, networking, and incentive mechanisms to support the verification, execution, and recording of transactions between parties. While block chain technologies were originally intended to support new forms of digital currency for easier and secure payments, they now hold promise as a new foundation for all forms of transactions. Agribusiness stands to become a key beneficiary of this technology as a platform to execute ‘smart contracts’ for transactions, particularly for high-value produce. First it is important to distinguish between private digital currencies and the distributed ledger and block chain technologies that underlie them. The distributed and cross- border nature of digital currencies like Bit coin means that regulation of the core protocols of these systems by central banks is unlikely to be effective. Monetary authorities are focused more on understanding ‘on-ramps’ and ‘off-ramps’ that constitute the links to the traditional payments system rather than being able to monitor and regulate the currency itself. In contrast to the digital currency feature of block chain, the distributed ledger feature has the potential for widespread use in agribusiness and trade financing, especially where workflows involve many different parties with no trusted central entity

SSE_CIB: Secure storage and exchange of copyrighted images using blockchain

AbstractThe rise of technology has resulted in the evolution of data generation at a rapid speed. With the high increase in the volume of data, it has become necessary to store it using reliable and scalable data management systems. Blockchain offers a storage structure that ensures the security and reliability of the stored data. Smart contracts further enhance the technology by enforcing more stringent record management activities. In recent times, there has been widespread utilization of IPFS in conjunction with blockchain technology. This utilization facilitates the establishment of decentralized and distributed data storage, as well as the connection of blockchain transactions to external data, thereby enhancing scalability and reducing storage expenses within blockchain applications. This paper introduces an effective collaborative ecosystem called SSE_CIB, where images undergo multiple operations including quantization before getting uploaded to IPFS. The image‐related details are stored in the blockchain to keep track of record entries. In our approach, a watermarking process has also been included to ensure the protection of copyright. Further, the images undergo block‐wise rotation based on a secret key and bit‐wise operation with a key image for enhanced security and protection. The work is implemented and tested using real‐life images in an Ethereum environment incorporated with a smart contract that enables proper execution of transactions.