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The Unreasonable Fundamental Incertitudes Behind Bitcoin Mining [article]

Nicolas T. Courtois, Marek Grajek, Rahul Naik
2014 arXiv   pre-print
These optimizations enable bitcoin miners to save tens of millions of dollars per year in electricity bills.  ...  A major change have been proposed in May 2013 at Bitcoin conference in San Diego by Dan Kaminsky.  ...  In cryptography bitcoin is a practical payment and virtual currency system.  ... 
arXiv:1310.7935v3 fatcat:fwqf3z2vnzd3vp7n5i2ygmdf2m

A Study on Authentication Mechanisms in Bitcoin

Shruthi N, Sowmyarani C N
2019 Zenodo  
When they use the hotspots that are very easy to access to everybody, privacy plays an important role.  ...  Anybody inside scope of the Wi-Fi can endeavour to get to the system. Due to this, Wi-Fi is progressively powerless against assaults.  ...  In each transaction, puzzles are there to lock funds so that they are not misused and solutions for puzzle are represented by scripts which play an important role.  ... 
doi:10.5281/zenodo.3358342 fatcat:gfbrgjbq4neyjinb7nivhkuvl4

A Detailed Review on Blockchain and Its Applications

Akash Raj Khettry, Karthik R. Patil, Abhilash C. Basavaraju
2021 SN Computer Science  
There are various consensus algorithms used to develop an application, we are giving a comparison between various approaches to decide the best suited algorithm for the required application.  ...  Using the concept of cryptography, and its increase in popularity in the current generation we here describe the concept of blockchain technology that helps provide solutions to the above issues.  ...  Thus, many solutions have been proposed, for decision-making. Blockchain uses the concept of randomization to predict the next generator.  ... 
doi:10.1007/s42979-020-00366-x fatcat:urvdb66g6ng3zcoekhazymqcj4

NONLINEAR PROOF-OF-WORK: IMPROVING THE ENERGY EFFICIENCY OF BITCOIN MINING

Riaan BEZUIDENHOUT, Wynand Nel, Andries Burger
2020 Journal of Construction Project Management and Innovation  
Bitcoin is probably the most well-known blockchain system in existence. It employs the proof-of-work (PoW) consensus algorithm to add transactions to the blockchain.  ...  This process is better known as Bitcoin mining. PoW requires miners to compete in solving a cryptographic puzzle before being allowed to add a block of transactions to the blockchain.  ...  PROPOSED SOLUTION In Section 0.3.1, the high energy wastage of PoW was identified as a major concern for the long-term sustainability of the Bitcoin network.  ... 
doi:10.36615/jcpmi.v10i1.351 fatcat:vj2zw6woqvehndt6qn4k42uj64

Can blockchain link the future?

Liang Qiao, Shuping Dang, Basem Shihada, Mohamed-Slim Alouini, Robert Nowak, Zhihan Lv
2021 Digital Communications and Networks  
Finally, explore the impacts and solutions of blockchain on human society beyond technology.  ...  Consequently, herein, we introduce cutting-edge blockchain technologies from four directions: blockchain system, consensus algorithms, smart contract, and scalability.  ...  Identity rights management and multi-party consensus help to identify illegal nodes and prevent malicious nodes from accessing the system [60] .  ... 
doi:10.1016/j.dcan.2021.07.004 fatcat:nmeiewwy45akljm5ul24fkr24y

Data Vaults for Blockchain-Empowered Accounting Information Systems

Muhammad Imran Sarwar, Muhammad Waseem Iqbal, Tahir Alyas, Abdallah Namoun, Ahmed Alrehaili, Ali Tufail, Nadia Tabassum
2021 IEEE Access  
However, it can be applied in conjunction with the Relational Database Management Systems (RDBMS) to provide cost-effective yet robust solutions.  ...  So far, Blockchain has not yet proven itself as an alternative to any traditional database system.  ...  The prototype has also identified several areas where the proposed solution can be applied.  ... 
doi:10.1109/access.2021.3107484 fatcat:jux7ycbtibadrhnbarzpzzagay

A Comparative Analysis of Scalability Issues within Blockchain-based Solutions in the Internet of Things

Ahmed Alrehaili, Abdallah Namoun, Ali Tufail
2021 International Journal of Advanced Computer Science and Applications  
This paper performs a comprehensive analysis of the recent blockchain-based scalability solutions applied to the Internet of Things domain.  ...  We propose an evaluation framework of scalability in IoT environments, encompassing critical criteria like throughput, latency, and block size.  ...  Therefore, each peer is guaranteed to have the identical most recent copy of the ledger. Thus, the forgery of a blockchain practically becomes very difficult.  ... 
doi:10.14569/ijacsa.2021.0120955 fatcat:m75bib6opjarlocufhe3opxvd4

Traceability Decentralization in Supply Chain Management Using Blockchain Technologies [article]

Thomas Sermpinis, Christos Sermpinis
2018 arXiv   pre-print
A solution to this problem can be the decentralization of the system, which will remove the central point of failure.  ...  To that effect, blockchain or DLT technologies, an emergent technology that enables the decentralization of a network can be used, by implementing a trustless model to achieve it.  ...  The company or organization generates an identity using the uPort 4 decentralized identity platform. This identity is unique, and it will be used to sign the information later. 2.  ... 
arXiv:1810.09203v1 fatcat:oite3g5ibngbra5pyuy3nlsx4y

Blockchain Implementation Quality Challenges: A Literature Review

Bojana Koteska, Elena Karafiloski, Anastas Mishev
2017 Software Quality Analysis, Monitoring, Improvement, and Applications  
Blockchain is not applicable only in nancial transaction systems but it is transforming our society from the way we use our cars, smartphones, healthcare, vote, and even personal identication.  ...  Blockchain is a public digital and distributed database solution providing decentralized management of transaction data.  ...  Another solution to this problem is the proposed certification system for Bitcoin which offers a guarantee to send and receive Bitcoins only to/ from certified users, and control of the creation of Bitcoins  ... 
dblp:conf/sqamia/KoteskaKM17 fatcat:vqbfmqu7ejabtjnlkylemtc6mi

Blockchain Use Cases and Their Feasibility

Kaspars Zīle, Renāte Strazdiņa
2018 Applied Computer Systems  
For each use case respective companies or organisations are added that are applying or testing the given solution.  ...  Due to research limitations the paper should not be considered an exhaustive blockchain use case description.  ...  Unfortunately, as it is common at an early adoption stage, there are a lot of unrealistic proposals and expectations, sometimes even deliberate fraud to trick the Applied Computer Systems ___________  ... 
doi:10.2478/acss-2018-0002 fatcat:mimywipl3ngj5nwpn62uhscfsq

Wider: Scale Out Blockchain With Sharding by Account [article]

Jia Kan, Jie Zhang, Xin Huang
2022 arXiv   pre-print
Most sharding solutions have a fixed number of shards. We propose Wider chain with sharding by account. The number of shards is increased to unlimited.  ...  Among the attempts of many blockchain scale-out solutions, sharding can improve performance and reduce the storage requirements of each node.  ...  SegWit is an early proposal from the BIP (Bitcoin Improvement Proposals), which slightly increased the Bitcoin TPS. Bitcoin Cash [18] increased the block size up to 8MB.  ... 
arXiv:2207.01978v2 fatcat:vhli6skfgbagjobe5ux45fb73e

Solutions to Scalability of Blockchain: A Survey

Qiheng Zhou, Huawei Huang, Zibin Zheng, Jing Bian
2020 IEEE Access  
This paper attempts to cover the existing scaling solutions for blockchain and classify them by level.  ...  However, Bitcoin encounters performance problems of low throughput and high transaction latency.  ...  To this end, a number of new solutions have been proposed.  ... 
doi:10.1109/access.2020.2967218 fatcat:xo2ys75jnfaerhlcirjybsbxai

Weighted threshold ECDSA for securing bitcoin wallet

Pratyush Dikshit, Kunwar Singh
2016 ACCENTS Transactions on Information Security  
Conflicts of interest The authors have no conflicts of interest to declare.  ...  Obviously, this is not a practical solution to these kind of problems. Shamir's secret sharing scheme gives the solution for generalization of above problem.  ...  By name, it seems that 'wallet' stores bitcoins, but due to the nature of bitcoin transaction, only the details of bitcoin transaction can be saved but not the bitcoin.  ... 
doi:10.19101/tis.2017.26003 fatcat:ikrvs3uzrnerviw74nd2zopb5i

Issues in Designing a Bitcoin-like Community Currency [chapter]

David Vandervort, Dale Gaucas, Robert St Jacques
2015 Lecture Notes in Computer Science  
The invention of the Bitcoin protocol has opened the door to new forms of financial interaction. One such form may be to adapt Bitcoin technology for use as a community currency.  ...  We propose a model of a community cryptocurrency that includes a community fund from which community members may take out loans if the community votes to approve them.  ...  The Bitcoin protocol may enable creative solutions to this problem.  ... 
doi:10.1007/978-3-662-48051-9_6 fatcat:szbkpbwspzcellhg5jor6vudjq

Survey of Blockchain from the Perspectives of Applications, Challenges and Opportunities

Ahmed Afif Monrat, Olov Schelen, Karl Andersson
2019 IEEE Access  
In general, the transaction processing capacity of Bitcoin is between 3.3 to 7 transaction per second [12] .  ...  The interoperability issue arises due to the lack of standard protocol for adopting and integrating blockchain-based solutions among companies.  ...  However, there is hardly any effective equivalent system for securing online identities. Blockchain may render an approach to circumvent this concern.  ... 
doi:10.1109/access.2019.2936094 fatcat:dqw5rmlt65ekhosqrfhpwdq6aa
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