Blockchain platforms: A compendium

Saraf, Chinmay; Sabadra, Siddharth

doi:10.1109/icird.2018.8376323

Cited by 94 publications

(52 citation statements)

References 1 publication

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“…Corda: Corda is a permissioned decentralized ledger framework that uses pluggable consensus method [80]. In this implementation, specific nodes called notary nodes are responsible for the consensus protocol.…”

Section: Blockchain Alternativesmentioning

confidence: 99%

A Survey on Consensus Methods in Blockchain for Resource-constrained IoT Networks

Salimitari¹,

Chatterjee²,

Fallah³

2020

Preprint

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The success of blockchain as the underlying technology for cryptocurrencies has opened up possibilities for its use in other application domains as well. The main advantages of blockchain for its potential use in other areas are its inherent security mechanisms and immunity to data manipulation attacks. A blockchain relies on a consensus method for agreeing on any new data. Most of the consensus methods which are currently used for the blockchain of different cryptocurrencies require high computational power and thus are not suitable for resource-constrained systems. <div><br></div><div>In this article, we survey the various blockchain-based consensus methods that are applicable to resource-constrained IoT devices and networks. In a typical IoT network, there exist several devices with limited computational and communication capabilities. Most often, these devices cannot perform intensive computations and are starved for bandwidth. Therefore, we discuss the possible measures that can be taken to reduce the computational power and convergence time for the underlying consensus methods. We also talk about some of the alternatives to the public blockchain, such as private blockchain and tangle, along with their potential adoption for IoT networks. Furthermore, we review the existing consensus methods that have been implemented and explore the possibility of utilizing them to realize a blockchainbased IoT network. Some of the open research challenges including AI-enabled blockchains are also put forward. </div>

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Section: Blockchain Alternativesmentioning

confidence: 99%

A Survey on Consensus Methods in Blockchain for Resource-constrained IoT Networks

Salimitari¹,

Chatterjee²,

Fallah³

2020

Preprint

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“…In Iroha, every participant is not permitted to access to entire data history. The participants can gain access to data through query by getting permission and being authenticated [63].…”

Section: Overview Of Blockchain Implementationsmentioning

confidence: 99%

“…It is a general-purpose smart contract machine for cross-industry applications and is not an optimal framework for a single industry [25]. The main drawback of this implementation is that if one-third or more number of validators become offline, the network may halt [63].…”

Section: Overview Of Blockchain Implementationsmentioning

confidence: 99%

A Survey on Consensus Methods in Blockchain for Resource-constrained IoT Networks

Salimitari¹,

Chatterjee²,

Fallah³

2020

Preprint

View full text Add to dashboard Cite

The success of blockchain as the underlying technology for cryptocurrencies has opened up possibilities for its use in other application domains as well. The main advantages of blockchain for its potential use in other domains are its inherent security mechanisms and immunity to different attacks. A blockchain relies on a consensus method for agreeing on any new data. Most of the consensus methods which are currently used for the blockchain of different cryptocurrencies require high computational power and thus are not apt for resourceconstrained systems.In this article, we discuss and survey the various blockchain based consensus methods that are applicable to resource constrained IoT devices and networks. A typical IoT network consists of several devices which have limited computational and communications capabilities. Most often, these devices cannot perform intensive computations and are starved for bandwidth. Therefore, we discuss the possible measures that can be taken to reduce the computational power and convergence time for the underlying consensus methods. We also talk about some of the alternatives to the public blockchain like private blockchain and tangle, along with their potential adoption for IoT networks. Furthermore, we review the existing consensus methods that have been implemented and explore the possibility of utilizing them to realize a blockchain based IoT network. Some of the open research challenges are also put forward.

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“…Ethereum was developed to facilitate transactions among individuals without requiring them to disclose their personal details, i.e., by developing trust among two anonymous entities. As a whole, it is a transactionbased state machine beginning at the genesis state [13] and moves on to the final state via incremental execution of transactions [14]. In between the two states, there can be valid or invalid changes.…”

Section: Ethereummentioning

confidence: 99%

Prediction of Transaction Confirmation Time in Ethereum Blockchain Using Machine Learning

Singh

Hafid

2019

Advances in Intelligent Systems and Computing

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Blockchain offers a decentralized, immutable, transparent system of records. It offers a peer-to-peer network of nodes with no centralised governing entity making it 'unhackable' and therefore, more secure than the traditional paper-based or centralised system of records like banks etc. While there are certain advantages to the paper-based recording approach, it does not work well with digital relationships where the data is in constant flux. Unlike traditional channels, governed by centralized entities, blockchain offers its users a certain level of anonymity by providing capabilities to interact without disclosing their personal identities and allows them to build trust without a third-party governing entity. Due to the aforementioned characteristics of blockchain, more and more users around the globe are inclined towards making a digital transaction via blockchain than via rudimentary channels. Therefore, there is a dire need for us to gain insight on how these transactions are processed by the blockchain and how much time it may take for a peer to confirm a transaction and add it to the blockchain network. This paper presents a novel approach that would allow one to estimate the time, in block time or otherwise, it would take for a mining node to accept and confirm a transaction to a block using machine learning. The paper also aims to compare the predictive accuracy of two machine learning regression models-Random Forest Regressor and Multilayer Perceptron against previously proposed statistical regression model under a set evaluation criterion. The objective is to determine whether machine learning offers a more accurate predictive model than conventional statistical models. The proposed model results in improved accuracy in prediction.

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Blockchain platforms: A compendium

Cited by 94 publications

References 1 publication

A Survey on Consensus Methods in Blockchain for Resource-constrained IoT Networks

A Survey on Consensus Methods in Blockchain for Resource-constrained IoT Networks

A Survey on Consensus Methods in Blockchain for Resource-constrained IoT Networks

Prediction of Transaction Confirmation Time in Ethereum Blockchain Using Machine Learning

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