Integration of IoT and blockchain for decentralized management and ownership in the metaverse

Ud Din, Ikram; Awan, Kamran Ahmad; Almogren, Ahmad; Rodrigues, Joel J. P. C.

doi:10.1002/dac.5612

Cited by 9 publications

(3 citation statements)

References 53 publications

(59 reference statements)

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“…Blockchain technology offers novel prospects for enhancing the administration and functioning of contemporary electrical infrastructures, colloquially referred to as smart grids. By capitalizing on the intrinsic attributes of blockchain technology, intelligent platforms can be fortified, preserved, and rendered more effective [49,50].…”

Section: Grid Managementmentioning

confidence: 99%

Blockchain Integration and Its Impact on Renewable Energy

Taherdoost

2024

Computers

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This paper investigates the evolving landscape of blockchain technology in renewable energy. The study, based on a Scopus database search on 21 February 2024, reveals a growing trend in scholarly output, predominantly in engineering, energy, and computer science. The diverse range of source types and global contributions, led by China, reflects the interdisciplinary nature of this field. This comprehensive review delves into 33 research papers, examining the integration of blockchain in renewable energy systems, encompassing decentralized power dispatching, certificate trading, alternative energy selection, and management in applications like intelligent transportation systems and microgrids. The papers employ theoretical concepts such as decentralized power dispatching models and permissioned blockchains, utilizing methodologies involving advanced algorithms, consensus mechanisms, and smart contracts to enhance efficiency, security, and transparency. The findings suggest that blockchain integration can reduce costs, increase renewable source utilization, and optimize energy management. Despite these advantages, challenges including uncertainties, privacy concerns, scalability issues, and energy consumption are identified, alongside legal and regulatory compliance and market acceptance hurdles. Overcoming resistance to change and building trust in blockchain-based systems are crucial for successful adoption, emphasizing the need for collaborative efforts among industry stakeholders, regulators, and technology developers to unlock the full potential of blockchains in renewable energy integration.

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Section: Grid Managementmentioning

confidence: 99%

Blockchain Integration and Its Impact on Renewable Energy

Taherdoost

2024

Computers

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“…By leveraging the power of the metaverse, graphic designers can push the boundaries of traditional design and explore innovative concepts. For example, they can create virtual environments that allow users to explore products and services in a realistic and immersive way, or design interactive advertisements that respond to user interactions [20]. The Metaverse's impact on graphic design opens up opportunities for designers to create visually stunning and interactive experiences that engage audiences on a whole new level.…”

Section: 2mentioning

confidence: 99%

The Impact of Metaverse on Graphic Design

Ibrahim

2023

Technium

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This paper will look at how the metaverse is revolutionizing graphic design by enabling collaborative design processes, creating immersive virtual environments, and introducing unique challenges and opportunities for graphic designers. The metaverse revolutionizes graphic design through collaborative processes and immersive virtual environments, presenting unique challenges and opportunities for designers. Graphic designers can delve into the creation of immersive and interactive digital environments, design virtual avatars and 3D objects, and contribute to the development of visually stunning landscapes that will define the metaverse. They must adapt their skills and techniques to convey information and captivate users within this new medium effectively. In addition, graphic designers working in the metaverse must be mindful of ethical considerations related to inclusivity, accessibility, cultural sensitivity, and privacy. They should strive to create designs that are inclusive, accessible, and culturally sensitive, while also ensuring the privacy and security of user data. Overall, the metaverse presents graphic designers with new challenges and opportunities. They must continuously update their knowledge and skills to stay at the forefront of technological advancements in order to create compelling and impactful designs in the metaverse.

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“…As blockchain technology underpins most transactions within the metaverse, ensuring the integrity and security of these transactions is paramount [10], [11], [12]. The literature is replete with studies focusing on blockchain's technical robustness, scalability, and security measures [13], [14], [15].…”

Section: Introductionmentioning

confidence: 99%

Anomaly Detection in Blockchain Transactions: A Machine Learning Approach within the Open Metaverse

Airlangga

2024

INFEB

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This study investigates the application of machine learning models for anomaly detection and fraud analysis in blockchain transactions within the Open Metaverse, amid the growing complexity of digital transactions in virtual spaces. Utilizing a dataset of 78,600 transactions that reflect a broad spectrum of user behaviors and transaction types, we evaluated the efficacy of several predictive models, including RandomForest, LinearRegression, SVR, DecisionTree, KNeighbors, GradientBoosting, AdaBoost, Bagging, XGB, and LightGBM, based on their Mean Cross-Validation Mean Squared Error (Mean CV MSE). Our analysis revealed that ensemble methods, particularly RandomForest and Bagging, demonstrated superior performance with Mean CV MSEs of -0.00445 and -0.00415, respectively, thereby highlighting their robustness in the complex transaction dataset. In contrast, LinearRegression and SVR were among the least effective, with Mean CV MSEs of -224.67 and -468.57, indicating a potential misalignment with the dataset's characteristics. This research underlines the importance of selecting appropriate machine learning strategies in the context of blockchain transactions within the Open Metaverse, showcasing the need for advanced, adaptable approaches. The findings contribute significantly to the financial technology field, particularly in enhancing security and integrity within virtual economic systems, and advocate for a nuanced approach to anomaly detection and fraud analysis in blockchain environments.

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Integration of IoT and blockchain for decentralized management and ownership in the metaverse

Cited by 9 publications

References 53 publications

Blockchain Integration and Its Impact on Renewable Energy

Blockchain Integration and Its Impact on Renewable Energy

The Impact of Metaverse on Graphic Design

Anomaly Detection in Blockchain Transactions: A Machine Learning Approach within the Open Metaverse

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