A System View of Financial Blockchains

Tsai, Wei‐Tek; Blower, Robert; Zhu, Yan; Yu, Lian

doi:10.1109/sose.2016.66

Cited by 93 publications

(49 citation statements)

References 2 publications

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“…ASICs calculate their processing power in the number of hash functions attempted per second. For this reason, crypto currencies "mines" (ASICs) are found in countries and regions around the globe where electricity is cheap [14]. These mining computers work virtually non-stop, trying to discover, as a hidden treasure, the future hash, that is, the mask of the entire chain of information that has ever existed across the network.…”

Section: Features Of Blockchain Technologymentioning

confidence: 99%

Blockchain a Challenge for the New Future Mobile Economy

Mazilescu¹

2019

EAI

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This paper analyzes the development and implementation of blockchain technology as a future basis for transforming models, roles and business processes in the context of the new mobile economy. Transparency of transactions must be a common desideratum of all companies involved in the development of blockchain platforms, because only such an approach can enhance widespread adoption. In this respect, close cooperation between companies developing this technology and regulatory authorities is needed to increase confidence and create a framework that takes into account the particularities of this technology. Major technology developers, such as IBM, Oracle and Amazon, have been involved in blockchain services. Other companies have begun to test the technology, establishing the first cases of use and prototypes of blockchain-based solutions. Organizations can start from a low level, but they need to set a goal for the initiative so that other participants can identify it and then be able to align it. Given the fact that blockchain technology is being properly utilized, it has a significant potential to stimulate the transition to more decentralized, safer solutions with a greater potential to conserve resources and mobilize communities.

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Section: Features Of Blockchain Technologymentioning

confidence: 99%

Blockchain a Challenge for the New Future Mobile Economy

Mazilescu¹

2019

EAI

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“…In our days, Blockchain technology is used in many areas, not only in the financial application, but also in other areas such as supply chain traceability, identity certification, insurance, International payments, the Internet Of Things and the protection of privacy etc [25,26,31,32,33,34].…”

Section: Cases Use Of Blockchain and Applicationsmentioning

confidence: 99%

Blockchain Challenges and Security Schemes: A Survey

Sayadi¹,

Rejeb²,

Choukair³

2018

2018 Seventh International Conference on Communications and Networking (ComNet)

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With the increasing number of connected devices and the number of online transactions today, managing all these transactions and devices and maintaining network security is a research issue. Current solutions are mainly based on cloud computing infrastructures, which require servers high-end and broadband networks to provide data storage and computing services. These solutions have a number of significant disadvantages, such as high maintenance costs of centralized servers, critical weakness of Internet Of Things applications, security and trust issues, etc. The blockchain is seen as a promising technique for addressing the mentioned security issues and design new decentralization frameworks. However, this new technology has a great potential in the most diverse technological fields. In this paper, we focus on presenting an overview of blockchain technology, highlighting its advantages, limitations and areas of application. The originality of this work resides in the comparison between the different blockchain systems and their security schemes and the perspective of integrating this technology into secured systems models for our comfort and our private life.

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“…Blockchain is one of the most popular issues discussed extensively in recent years, and it has already changed people's lifestyle in some real areas due to its great impact on finance, business, industry, transportation, heathcare and so forth. Since the introduction of Bitcoin by Nakamoto [23], blockchain technologies have become widely adopted in many real applications, for example, survey work of applications by NRI [25] and Foroglou and Tsilidou [10]; finance by Tsai et al [30]; business and information systems by Beck et al [1]; applications to companies by Montemayor et al [22]; Internet of Things and shared economy by Huckle et al [12]; healthcare by Mettler [21]; and the others.…”

Section: Introductionmentioning

confidence: 99%

Blockchain Queue Theory

Chang

2018

Lecture Notes in Computer Science

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Blockchain has many benefits including decentralization, availability, persistency, consistency, anonymity, auditability and accountability, and it also covers a wide spectrum of applications ranging from cryptocurrency, financial services, reputation system, Internet of Things, sharing economy to public and social services. Not only may blockchain be regarded as a by-product of Bitcoin cryptocurrency systems, but also it is a type of distributed ledger technologies through using a trustworthy, decentralized log of totally ordered transactions. By summarizing the literature of blockchain, it is found that more and more important research is to develop basic theory, for example, mathematical models (Markov processes, queueing theory and game models) for mining management and consensus mechanism, performance analysis and optimization of blockchain systems. In this paper, we develop queueing theory of blockchain systems and provide system performance evaluation. To do this, we design a Markovian batch-service queueing system with two different service stages, which are suitable to well express the mining process in the miners pool and the building of a new blockchain. By using the matrix-geometric solution, we obtain a system stable condition and express three key performance measures: (a) The average number of transactions in the queue, (b) the average number of transactions in a block, and (c) the average transaction-confirmation time. Finally, we use numerical examples to verify computability of our theoretical results. Although our queueing model here is simple only under exponential or Poisson assumptions, our analytic method will open a series of potentially promising research in queueing theory of blockchain systems.

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A System View of Financial Blockchains

Cited by 93 publications

References 2 publications

Blockchain a Challenge for the New Future Mobile Economy

Blockchain a Challenge for the New Future Mobile Economy

Blockchain Challenges and Security Schemes: A Survey

Blockchain Queue Theory

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