Trust Provision in the Internet of Things using Transversal Blockchain Networks

Renewable energy microgeneration is rising leading to creation of prosumer communities making it possible to extract value from surplus energy and usage flexibility. Such a peer-to-peer energy trading community requires a decentralized, immutable and access-controlled transaction system for tokenized energy assets. In this study we present a unified blockchain-based system for energy asset transactions among prosumers, electric vehicles, power companies and storage providers. Two versions of the system were implemented on Hyperledger Fabric. Assets encapsulating an identifier or unique information along with value are modelled as non-fungible tokens (NFT), while those representing value only are modelled as fungible tokens (FT). We developed the associated algorithms for token lifecycle management, analyzed their complexities and encoded them in smart contracts for performance testing. The results show that performance of both implementations are comparable for most major operations. Further, we presented a detailed comparison of FT and NFT implementations based on use-case, design, performance, advantages and disadvantages. Our implementation achieved a throughput of 448.3 transactions per second for the slowest operation (transfer) with a reasonably low infrastructure.

Section: Related Workmentioning

confidence: 99%

Blockchain Based Transaction System with Fungible and Non-Fungible Tokens for a Community-Based Energy Infrastructure

Karandikar

Chakravorty

Rong

2021

“…The problem highlighted by these works is the degree of reliability offered by these systems to their users. Being centralized systems and generally controlled by third-parties, they are prone to attacks and integrity violations, which would affect the information contained and therefore, the trust between the involved devices [ 4 ].…”

Section: State Of the Artmentioning

confidence: 99%

“…The blockchain technology [ 3 ], as an information exchange platform used to secure transactions with cryptocurrencies, can in turn be used to provide a flexible and secure platform to allow the provision of sensitive transactions, with privacy and reliability components enabling trust [ 4 ].…”

Section: Introductionmentioning

confidence: 99%

A Blockchain-Based Authorization System for Trustworthy Resource Monitoring and Trading in Smart Communities

Alcarria

Martín

Callejo

2018

Self Cite

Resource consumption in residential areas requires novel contributions in the field of consumer information management and collaborative mechanisms for the exchange of resources, in order to optimize the overall consumption of the community. We propose an authorization system to facilitate access to consumer information and resource trading, based on blockchain technology. Our proposal is oriented to the Smart communities, an evolution of Community Energy Management Systems, in which communities are involved in the monitoring and coordination of resource consumption. The proposed environment allows a more reliable management of monitoring and authorization functions, with secure data access and storage and delegation of controller functions among householders. We provide the definition of virtual assets for energy and water resource sharing as an auction, which encourages the optimization of global consumption and saves resources. The proposed solution is implemented and validated in application scenarios that demonstrate the suitability of the defined consensus mechanism, trustworthiness in the level of provided security for resource monitoring and delegation and reduction on resource consumption by the resource trading contribution.

“…In addition, the data stored in the blockchain is immutable, i.e., once the data is stored it cannot be modified or deleted, leading to enhanced security. This immutability enables audit trail, bringing in accountability, adding trust to the system, and alleviating privacy concerns [ 22 , 23 ]. These distinctive features of blockchain have triggered its wide adoption for health records management to address security and privacy issues, while providing access to patient’s health history to multiple stakeholders for patient-centric health services.…”

Section: Introductionmentioning

confidence: 99%

A Scoping Review of Integrated Blockchain-Cloud (BcC) Architecture for Healthcare: Applications, Challenges and Solutions

Ismail

Materwala

Hennebelle³

2021

Blockchain is a disruptive technology for shaping the next era of a healthcare system striving for efficient and effective patient care. This is thanks to its peer-to-peer, secure, and transparent characteristics. On the other hand, cloud computing made its way into the healthcare system thanks to its elasticity and cost-efficiency nature. However, cloud-based systems fail to provide a secured and private patient-centric cohesive view to multiple healthcare stakeholders. In this situation, blockchain provides solutions to address security and privacy concerns of the cloud because of its decentralization feature combined with data security and privacy, while cloud provides solutions to the blockchain scalability and efficiency challenges. Therefore a novel paradigm of blockchain-cloud integration (BcC) emerges for the domain of healthcare. In this paper, we provide an in-depth analysis of the BcC integration for the healthcare system to give the readers the motivations behind the emergence of this new paradigm, introduce a classification of existing architectures and their applications for better healthcare. We then review the development platforms and services and highlight the research challenges for the integrated BcC architecture, possible solutions, and future research directions. The results of this paper will be useful for the healthcare industry to design and develop a data management system for better patient care.