Probabilistic Blockchains: A Blockchain Paradigm for Collaborative Decision-Making (original) (raw)
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A Reputation Management Framework for Knowledge-Based and Probabilistic Blockchains
2019 IEEE International Conference on Blockchain (Blockchain),, 2019
Recently, leading research communities have been investigating the use of blockchains for Artificial Intelligence (AI) applications, where multiple participants, or agents, collaborate to make consensus decisions. To achieve this, the data in the blockchain storage have to be transformed into blockchain knowledge. We refer to these types of blockchains as knowledge-based blockchains. Knowledge-based blockchains are potentially useful in building efficient risk assessment applications. An earlier work introduced probabilistic blockchain which facilitates knowledge-based blockchains. This paper proposes an extension for the probabilistic blockchain concept. The design of a reputation management framework, suitable for such blockchains, is proposed. The framework has been developed to suit the requirements of a wide range of applications. In particular, we apply it to the detection of malicious nodes and reduce their effect on the probabilistic blockchains' consensus process. We ev...
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The current rapid growth of the global economy, powered by the revolutionary character of technological change, is changing the way business models are transformed and the global economy id shifting from an asset-based model to an information-based economy. This phenomenon is called the digital revolution. The underlying threat to this revolution, which brings with it potentially catastrophic consequences, is the low maturity of cyber- security management methods and spontaneously-evolving systems that are hugely complicated not only for private companies but, more importantly, for companies whose systems are components of critical infrastructure of a city, state or the whole world. The remediation for this threat lies in the replacement of current, qualitative methods of risk management, by a quantitative approach, based on reduction methodology which is sensitive to the probability of the occurrence of a particular cyber uncertainty, and which is backed by distributed ledger technology (blockchain) that, thanks to its unique properties, has the potential to address the identified defects of the methods used up to now. Leveraging the process of testing and monitoring the level of uncertainty through blockchain can not only improve security management of a digital ecosystem, but also allow it to adapt to the requirements of tomorrow's 'machine economy'.
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Recently, Blockchain-based applications have become immensely popular because of limited reliance on a single entity, unlike a centralized system. However, reaching a consensus among blockchain networks is a challenging and vital aspect of blockchain-based applications. There are various types of blockchain networks for different kinds of application scenarios. Among all of them, the consensus algorithm is the most crucial part of reaching an agreement in the complex blockchain network. Over the years, researchers have focused on dealing with the challenges like distributed computing, storage, transaction speed, security, validity, interoperability, and many more. However, only some of them are appropriate for all domains. Therefore, this paper presents an extensive study of different types of consensus protocols used in existing blockchain solutions with the strength and limitations of each algorithm. We also provide an inherent comparison among different algorithms to understand consensus protocol selection better. Moreover, we investigate operational and interoperability issues in existing blockchain-based applications to understand challenges and provide recommendations for future developers. INDEX TERMS Blockchain, consensus algorithm, interoperability, cross-chain transactions, architecture, operational issues, applications, research directions. I. INTRODUCTION T HE blockchain concept was first introduced by Haber and Stornetta [1], which is considered one of the technologies with the most potential. After that the introduction of Bitcoin by Nakamoto [2], it has attracted intense attention from all over the world. In Blockchain systems, different cryptographic protocols, like hash functions, digital signatures, etc., are used to maintain the authenticity and security of the data. Blockchain is a distributed ledger system that keeps data secure from unauthorized access. Blockchain technology allows users to add, view, and validate transactions to the distributed ledger. These transactions often take place with the consent of all involved users. Blockchain uses a consensus mechanism to ensure that all transactions are accurate. In a trustless environment, blockchain provides users with desirable qualities like decentralization, autonomy, integrity, immutability, verification, fault-tolerance, anonymity, auditability, and transparency, which have received significant academic and industrial attention recently years [3]-[6]. However, the blockchain system is trustless and ensures blockchain-enabled trust through other cryptographic peerto-peer communication in the decentralized network. Further verification and validation mechanisms are employed
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A STUDY ON THE LIMITATIONS OF BLOCKCHAIN AND THE USAGE OF CONSENSUS MODELS IN BLOCKCHAIN TECHNOLOGY
International Journal of Research , 2019
Threats to data ethics are consequently paramount relevance, as tampering with data can maliciously affect crucial business decisions. This issue is especially true in cloud computing surroundings , where data owners can't get a handle on fundamental info elements, such as the physical storage of data as well as also the control of its own Travels. Blockchain has just emerged as a fascinating technology which, among others, provides persuasive qualities about data integrity. Using the blockchain to manage data integrity threats is apparently a natural choice, however, its existing limitations of non throughput, higher latency, and weak stability interfere with the practical feasibility of virtually any blockchain-based solutions. At their basic levelthey empower a network of users to record trades in a shared ledger within that community, for example under normal operation of this blockchain system no trade may be changed once released. This record provides a high level technical overview of blockchain technology. The purpose is to help readers comprehend just how blockchain technology works.
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Since the introduction of Bitcoin—the first widespread application driven by blockchain— the interest of the public and private sectors in blockchain has skyrocketed. In recent years, blockchain-based fabrics have been used to address challenges in diverse fields such as trade, food production, property rights, identity-management, aid delivery, health care, and fraud prevention. This widespread interest follows from fundamental concepts on which blockchains are built that together embed the notion of trust, upon which blockchains are built. 1. Blockchains provide data transparancy. Data in a blockchain is stored in the form of a ledger, which contains an ordered history of all the transactions. This facilitates oversight and auditing. 2. Blockchains ensure data integrity by using strong cryptographic primitives. This guarantees that transactions accepted by the blockchain are authenticated by its issuer, are immutable, and cannot be repudiated by the issuer. This ensures accountabi...
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The central piece of blockchain technologies is the consensus algorithm. The consensus is reached via consensus algorithms in the distributed network of the blockchain. The consensus becomes stronger if nearly all the nodes in the blockchain network take part in building the blockchain. Even if some nodes misbehave or malfunction, the consensus should not break down then. Since blockchain networks are distributed, even if some regions of the network or some nodes of the network leave, the blockchain network should not malfunction and it should be consistent. Therefore, the consistency of the blockchain transactions should be assured by all the nodes or nearly all the nodes, or most of the nodes. In other words, the consensus should be the issue of all the nodes. In this work, a novel consensus algorithm is presented to diffuse the mission of building the blockchain to all the nodes. In other words, the consensus should be the issue of all the nodes. In this work, a novel consensus algorithm is presented to diffuse the mission of building the blockchain to all the nodes. The algorithm increases the randomness of nodes and enforces the blockchain network to be more decentralized. Randomness is realized by employing the power of cryptography, especially by using public keys as a characteristic for miners, which are also called signers. Moreover, since the algorithm is realized with a few operations, it contributes to the scalability of the blockchain. Furthermore, digital signatures improve the security level and consistency of the blockchain.
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