Journal of information and communication convergence engineering

The Korea Institute of Information and Commucation Engineering (한국정보통신학회)
권호 표지
DOI QR코드

DOI QR Code

Analysis of Blockchain Ecosystem and Suggestions for Improvement

  • Kim, Jin-Whan (Department of AI.Computer Engineering, Youngsan University)
  • Received : 2020.12.09
  • Accepted : 2021.02.02
  • Published : 2021.03.31
Download PDF
⟨ Previous Next ⟩

Abstract

The Fourth Industrial Revolution is currently leading humanity into a super-connected, super-intelligent, and super-converged society through key technologies such as artificial intelligence, the Internet of Things (IoT), and big data. Blockchain technology has the potential to lead social innovation that will improve the mutual harmony and understanding of the complex structures of human society as well as various phenomena (e.g., antagonism, confrontation, and ideological conflict). With such progress in social innovation, blockchain technology will result in a fairer and more transparent human society. In addition, blockchain technology is emerging as a core infrastructure technology, and its growth and expansion are expected to bring about revolutionary improvements to nearly all fields of development and research. In this paper, we briefly outline the main features of blockchain technology. Through a further analysis of its ecosystem, we intend to offer suggestions for a more robust and efficient development of blockchain-related industries.

Keywords

References

  1. World Economic Forum, The Fourth Industrial Revolution, [Online] Available: https://www.weforum.org/about/the-fourth-industrial-revolution-by-klaus-schwab/.
  2. J. W. Kim, "Blockchain technology and its applications: Case studies," Journal of System and Management Sciences, vol. 10, no. 1, pp. 83-93, 2020.
  3. Nomura Research Institute, "Survey on Blockchain technology and related services," FY2015 Report, 2016.
  4. E. S. Kim, "A study for the innovativeness of Blockchain," The Journal of Society for e-Business Studies, vol. 23, no. 3, pp. 173-187, 2018. https://doi.org/10.7838/JSEBS.2018.23.3.173
  5. I. C. Lin and T. C. Liao, "A survey of Blockchain security issues and challenges," International Journal of Network Security, vol. 19, no. 5, pp. 653-659, 2017.
  6. L. Yang, "The blockchain: State-of-the-art and research challenges," Journal of Industrial Information Integration 15, pp. 80-90, 2019. DOI: 10.1016/j.jii.2019.04.002.
  7. J. S. Park and S. U. Shin, "Analysis of Blockchain platforms from the viewpoint of privacy protection," Journal of Internet Computing and Services (JICS), vol. 20, no. 6, pp. 105-117, Dec. 2019. DOI: 10.7472/jksii.2019.20.6.105.
  8. N. O. Nawari and S. Ravindran, "Blockchain and the built environment: Potentials and limitations," Journal of Building Engineering, vol. 25, 2019. DOI: 10.1016/j.jobe.2019.100832.
  9. H. T. Yang, "Artificial intelligence and Blockchain convergence trend and policy improvement plan," Informatization Policy, vol. 27, no. 2, pp. 003-019, 2020. DOI: 10.22693/NIAIP.2020.27.2.003.
  10. J. S. Yun, Y. Y. Goh, J. M. Chung, O. S. Kim, S. W. Shin, J. Choi, and Y. R. Kim, "MMOG user participation based decentralized consensus scheme and proof of participation analysis on the Bryllite Blockchain system," KSII Transactions on Internet and Information Systems, vol. 13, no. 8, Aug. 2019. DOI: 10.3837/tiis.2019.08.015.
  11. H. D. Kim, J. S. Yun, Y. Y. Goh, and J. M. Chung, "Adaptive consensus bound PBFT algorithm design for eliminating interface factors of blockchain consensus," Journal of Internet Computing and Services (JICS), vol. 21, no. 1, pp. 17-31, Feb. 2020. DOI: 10.7472/jksii.2020.21.1.17.
  12. S. D. Yoo, "A study on consensus algorithm based on Blockchain," The Journal of The Institute of Internet, Broadcasting and Communication (IIBC), vol. 19, no. 3, pp. 25-32, Jun. 2019. DOI: 10.7236/JIIBC.2019.19.3.25.
  13. H. Li, F. Zhang, P. Luo, H. Tian, and J. He, "How to retrieve the encrypted data on the blockchain," KSII Transactions on Internet and Information Systems, vol. 13, no. 11, Nov. 2019.
  14. J. S. Ko and J. Kwak, "Private key recovery on Bitcoin with duplicated signatures," KSII Transactions on Internet and Information Systems, vol. 14, no. 3, Mar. 2020.
  15. S. W. Noh and K. H. Rhee, "A study on the analysis and solutions of the Blockchain security issues," Journal of Internet Computing and Services (JICS), vol. 20, no. 4, pp. 1-11, Aug. 2019. DOI: 10.7472/jksii.2019.20.4.01.
  16. M. S. Son and H. Y. Kim, "Hybrid blockchain-based secure firmware distribution system," Journal of Internet Computing and Services (JICS), vol. 20, no. 5, pp. 121-132, Oct. 2019. DOI: 10.7472/jksii.2019.20.5.121.
  17. N. H. Choi and H. Y. Kim, "A Blockchain-based user authentication model using MetaMask," Journal of Internet Computing and Services (JICS), vol. 20, no. 6, pp. 119-127, Dec. 2019. DOI: 10.7472/jksii.2019.20.6.119.
  18. S. J. Hwang, D. H. Ko, T. U. Bahk, and Y. H. Choi, "Strengthening security structure of open Blockchain platform to enhance privacy protection of DApp users," Journal of Internet Computing and Services (JICS), vol. 21, no. 3, pp. 1-9, Jun. 2020. DOI: 10.7472/jksii.2020.21.3.1.
  19. S. D. Yoo, "A study on Blockchain ecosystem," The Journal of The Institute of Internet, Broadcasting and Communication (IIBC), vol. 18, no. 2, pp. 1-9, Apr. 2018. https://doi.org/10.7236/JIIBC.2018.18.2.1
  20. A. M. Antonopoulos and G. Wood, "Mastering Ethereum: Building smart contracts and DApps," 2019.
  21. B. Badr, R. Horrocks, and X. Wu, "Blockchain by example: A developer's guide to creating decentralized applications using Bitcoin, Ethereum, and Hyperledger," 2018.
  22. A. Islam, M. F. Kader, and S. Y. Shin, "A Blockchain-based smart and secured scheme for question sharing in the smart education system," Journal of Information and Communication Convergence Engineering, vol. 17, no. 3, Sep. 2019.
  23. C. J. Kim, "An online voting system based on Ethereum Block-Chain for enhancing reliability," Journal of the Korea Academia-Industrial Cooperation Society, vol. 19, no. 4, pp. 563-570, 2018. https://doi.org/10.5762/KAIS.2018.19.4.563
  24. X. Li, J. Niu, J. Gao, and Y. Han, "Secure electronic ticketing system based on consortium Blockchain," KSII Transactions on Internet and Information Systems, vol. 13, no. 10, 2019.
  25. I. G. Lee, "A study on Blockchain networking for Internet of Things," Journal of Digital Convergence, vol. 16, no. 8, pp. 201-210, 2018. https://doi.org/10.14400/jdc.2018.16.8.201
  26. S. C. Lee, J. H. Lee, S. P. Hong, and J. H. Kim, "Lightweight end-to-end Blockchain for IoT applications," KSII Transactions on Internet and Information Systems, vol. 14, no. 8, pp. 3224-3242, 2020. https://doi.org/10.3837/tiis.2020.08.004
  27. X. Wang, X. Zha, W. Ni, R. P. Liu, Y. J. Guo, X. Niu, and K. Zheng, "Survey on blockchain for Internet of Things," Computer Communications, vol. 136, pp. 10-29, 2019. DOI: 10.1016/j.comcom.2019.01.006.
  28. J. Xue, C. Xu, and Y. Zhang, "Private Blockchain-based secure access control for smart home systems," KSII Transactions on Internet and Information Systems, vol. 12, no. 12, Dec. 2018. DOI: 10.3837/tiis.2018.12.024.
  29. J. Chen, Z. Lv, and H. Song, "Design of personnel big data management system based on blockchain," Future Generation Computer Systems, vol. 101, pp. 1122-1129, 2019. DOI: 10.1016/j.future.2019.07.037.
  30. S. Zhang, Y. Cao, Z. Ning, F. Xue, D. Cao, and Y. Yang, "A heterogeneous IoT node authentication scheme based on hybrid Blockchain and trust value," KSII Transactions on Internet and Information Systems, vol. 14, no. 9, Sep. 2020.
  31. S. K. Singh, S. Rathore, and J. H. Park, "BlockIoTIntelligence: A Blockchain-enabled intelligent IoT architecture with artificial intelligence," Future Generation Computer Systems, 2019. DOI: 10.1016/j.future.2019.09.002.
  32. X. Li, J. Niu, J. Gao, and Y. Han, "Secure electronic ticketing system based on consortium Blockchain," KSII Transactions on Internet and Information Systems, vol. 13, no. 10, pp. 5219-5243, Oct. 2019. DOI: 10.3837/tiis.2019.10.022.
  33. K. Veeramani and S. Jaganathan, "Land registration: Use-case of e-Governance using Blockchain technology," KSII Transactions on Internet and Information Systems, vol. 14, no. 9, Sep. 2020.
  34. K. J. Kim and S. P. Hong, "A trusted sharing model for patient records based on permissioned Blockchain," Journal of Internet Computing and Services (JICS), vol. 18, no. 6, pp. 75-84, Dec. 2017. DOI: 10.7472/jksii.2017.18.6.75.
  35. H. J. Kang, H. R. Kim, and S. P. Hong, "A study on the design of smart contracts mechanism based on the Blockchain for anti-money laundering," Journal of Internet Computing and Services (JICS), vol. 19, no. 5, pp. 1-11, Oct. 2018. DOI: 10.7472/jksii.2018.19.5.1.
  36. S. M. Hwang and H. W. Lee, "Identification of counterfeit Android malware apps using Hyperledger Fabric Blockchain," Journal of Internet Computing and Services (JICS), vol. 20, no. 2, pp. 61-68, Apr. 2019. DOI: 10.7472/jksii.2019.20.2.61.
  37. H. W. Lee and H. S. Lee, "Consortium Blockchain based forgery Android APK discrimination DApp using Hyperledger Composer," Journal of Internet Computing and Services (JICS), vol. 20, no. 5, pp. 9-18, Oct. 2019. DOI: 10.7472/jksii.2019.20.5.9.
  38. J. S. Hwang and H. G. Kim, "Blockchain-based copyright management system capable of registering creative ideas," Journal of Internet Computing and Services (JICS), vol. 20, no. 5, pp. 57-65, Oct. 2019. DOI: 10.7472/jksii.2019.20.5.57.
  39. M. G. Kang, "Design of Blockchain application based on fingerprint recognition module for FIDO user authentication in shopping mall," Journal of Internet Computing and Services (JICS), vol. 21, no. 2, pp. 65-72, Apr. 2020. DOI: 10.7472/jksii.2020.21.2.65.
  40. C. H. Roh and I. Y. Lee, "A study on electronic voting system using private Blockchain," Journal of Information Processing System, vol. 16, no. 2, pp. 421-434, Apr. 2020. DOI: 10.3745/JIPS.03.0135.
  41. X. He, X. Chen and K. Li, "A decentralized and non-reversible traceability system for storing commodity data," KSII Transactions on Internet and Information Systems, vol. 13, no. 2, pp. 619-634, Feb. 2019. DOI : 10.3837/tiis.2019.02.008.
  42. K. H. An and H. J. Seo, "Donate system development using Blockchain technology," Journal of the Korea Institute of Information and Communication Engineering, vol. 22, no. 5, pp. 812-817, May. 2018. DOI: 10.6109/jkiice.2018.22.4.812.
  43. G. Drosatos and E. Kaldoudi, "Blockchain applications in the biomedical domain: A scoping review," Computational and Structural Biotechnology Journal, vol. 17, pp. 229-240, 2019. DOI: 10.1016/j.csbj.2019.01.010.
  44. M. M. Queiroz and S. F. Wamba, "Blockchain adoption challenges in supply chain: An empirical investigation of the main drivers in India and the USA," International Journal of Information Management, vol. 46, pp. 70-82, 2019. DOI: 10.1016/j.ijinfomgt.2018.11.021.
  45. K. N. Lee and G. H. Jeon, "A study on improvement of used-goods market platform using Blockchain," Journal of Digital Convergence, vol. 16. no. 9, pp. 133-145, 2018. DOI: 10.14400/JDC.2018.16.9.133.
  46. C. G. Schmidt and S. M. Wagner, "Blockchain and supply chain relations: A transaction cost theory perspective," Journal of Purchasing and Supply Management, vol. 25, no. 4, 2019. DOI: 10.1016/j.pursup.2019.100552.
  47. S. Yadav and S. P. Singh, "Blockchain critical success factors for sustainable supply chain," Resources, Conservation & Recycling, vol. 152, 2020. DOI: 10.1016/j.resconrec.2019.104505.
  48. W. Viriyasitavat and D. Hoonsopon, "Blockchain characteristics and consensus in modern business processes," Journal of Industrial Information Integration, vol. 13, pp. 32-39, 2019. DOI: 10.1016/j.jii.2018.07.004.
  49. M. Singh and S. Kim, "Branch based blockchain technology in intelligent vehicle," Computer Networks, vol. 145, pp. 219-231, 2018. DOI: 10.1016/j.comnet.2018.08.016.
  50. H. S. Lee, "Technological trends and industrial applications of the quantum computers," The Korea Contents Association Review, vol. 17, no. 2, pp. 25-28, 2019.
  51. M. A. Nielsen and I. L. Chuang, "Quantum computation and quantum information," Cambridge University Press, 2000.
  52. M. G. An and Y. S. Park, "A study on the effectiveness of Blockchain and legal system and policy tasks for SMEs," Journal of Convergence for Information Technology, vol. 9. no. 7, pp. 14-24, 2019. DOI: 10.22156/CS4SMB.2019.9.7.014.
  53. H. K. Cha, W. S. Lee, Y. H. Choi, J. C. Lee, and K. C. Lee, "International standardization on Blockchain," Electronics and Telecommunications Trends, 2019.
  54. S. D. Yoo, "Token's function and role for securing ecosystem," International Journal of Advanced Culture Technology, vol. 8, no. 1, pp. 128-134, 2020. DOI: 10.17703/IJACT.2020.8.1.128.
  55. S. Nakamoto, "Bitcoin: A peer-to-peer electronic cash system," White Paper, 2008. [Online] Available: http://bitcoin.org/bitcoin.pdf.
  56. Ethereum white paper: [Online] Available: https://github.com/ethereum/wiki/wiki/White-Paper.
  57. Ethereum yellow paper: [Online] Available: https://ethereum.github.io/yellowpaper/paper.pdf.
  58. Ripple Labs Inc., "The Ripple Protocol Consensus Algorithm," [Online] Available: https://ripple.com/files/ripple_consensus_whitepaper.pdf.
  59. Hyperledger Fabric v2.x, [Online] Available: https://hyperledger-fabric.readthedocs.io/en/latest/whatsnew.html.
  60. Facebook Libra whitepaper, [Online] Available: https://www.diem.com/en-us/white-paper.
  61. J. W. Kim, "A study on building a Blockchain development environment," Journal of Convergence Technologies and Smart Application (JCTSA), HolyKnight, vol. 1, pp. 17-24, 2020. DOI: 10.46410/jctsa.2020.1.1.03.
  62. J. S. Park and J. D. Kim, "A study on the development of consortium Blockchain governance framework," Journal of Digital Convergence, vol. 17, no. 8, pp. 89-94, 2019. DOI: 10.14400/JDC.2019.17.8.089.
  63. M. Janssen, V. Weerakkody, E. Ismagilova, U. Sivarajah, and Z. Irani, "A framework for analysing blockchain technology adoption: Integrating institutional, market and technical factors," International Journal of Information Management, vol. 50, pp. 302-309, 2020. DOI: 10.1016/j.ijinfomgt.2019.08.012.
  64. Q. Lu, X. Xu, Y. Liu, I. Weber, L. Zhu, and W. Zhang, "uBaaS: A unified blockchain as a service platform," Future Generation Computer Systems, vol. 101, pp. 564-575, 2019. DOI: 10.1016/j.future.2019.05.051.