• Title/Summary/Keyword: Blockchain

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Blockchain for Securing Smart Grids

  • Aldabbagh, Ghadah;Bamasag, Omaimah;Almasari, Lola;Alsaidalani, Rabab;Redwan, Afnan;Alsaggaf, Amaal
    • International Journal of Computer Science & Network Security
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    • v.21 no.4
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    • pp.255-263
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    • 2021
  • Smart grid is a fully-automated, bi-directional, power transmission network based on the physical grid system, which combines sensor measurement, computer, information communication, and automatic control technology. Blockchain technology, with its security features, can be integrated with Smart Grids to provide secure and efficient power management and transmission. This paper dicusses the deployment of Blockchain technology in Smart Grid. It presents application areas and protocols in which blockchain can be applied to in securing smart grid. One application of each area is explored in detail, such as efficient peer-to-peer transaction, lower platform costs, faster processes, greater flexibility in power generation to transmission, distribution and power consumption in different energy storage systems, current barriers obstructing the implementation of blockchain applications with some level of maturity in financial services but concepts only in energy and other sectors. Wide range of energy applications suggesting a suitable blockchain architecture in smart grid operations, a sample block structure and the potential blockchain technicalities employed in it. Also, added with efficient data aggregation schemes based on the blockchain technology to overcome the challenges related to privacy and security in the smart grid. Later on, consensus algorithms and protocols are discussed. Monitoring of the usage and statistics of energy distribution systems that can also be used to remotely control energy flow to a particular area. Further, the discussion on the blockchain-based frameworks that helps in the diagnosis and maintenance of smart grid equipment. We have also discussed several commercial implementations of blockchain in the smart grid. Finally, various challenges have been discussed for integrating these technologies. Overall, it can be said at the present point in time that blockchain technology certainly shows a lot of potentials from a customer perspective too and should be further developed by market participants. The approaches seen thus far may have a disruptive effect in the future and might require additional regulatory intervention in an already tightly regulated energy market. If blockchains are to deliver benefits for consumers (whether as consumers or prosumers of energy), a strong focus on consumer issues will be needed.

A Blockchain Network Construction Tool and its Electronic Voting Application Case (블록체인 자동화도구 개발과 전자투표 적용사례)

  • AING TECKCHUN;KONG VUNGSOVANREACH;Okki Kim;Kyung-Hee Lee;Wan-Sup Cho
    • The Journal of Bigdata
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    • v.6 no.2
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    • pp.151-159
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    • 2021
  • Construction of a blockchain network needs a cumbersome and time consuming activity. To overcome these limitations, global IT companies such as Microsoft are providing cloud-based blockchain services. In this paper, we propose a blockchain-based construction and management tool that enables blockchain developers, blockchain operators, and enterprises to deploy blockchain more comfortably in their infrastructure. This tool is implemented using Hyperledger Fabric, one of the famous private blockchain platforms, and Ansible, an open-source IT automation engine that supports network-wide deployment. Instead of complex and repetitive text commands, the tool provides a user-friendly web dashboard interface that allows users to seamlessly set up, deploy and interact with a blockchain network. With this proposed solution, blockchain developers, operators, and blockchain researchers can more easily build blockchain infrastructure, saving time and cost. To verify the usefulness and convenience of the proposed tool, a blockchain network that conducts electronic voting was built and tested. The construction of a blockchain network, which consists of writing more than 10 setting files and executing commands over hundreds of lines, can be replaced with simple input and click operations in the graphical user interface, saving user convenience and time. The proposed blockchain tool will be used to build trust data infrastructure in various fields such as food safety supply chain construction in the future.

A Study on the Acceptance Intention and Usage Behavior of Blockchain Technology : From the Perspective of Unified Theory of Acceptance and Use of Technology (통합기술수용이론 관점에서 블록체인기술의 사용자 수용과 이용 행동에 관한 연구)

  • Kim, Byung-Gon;Lee, Byeong-Gil;Yoon, Il-Ki
    • Journal of Information Technology Applications and Management
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    • v.27 no.3
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    • pp.1-18
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    • 2020
  • Recently, following the development of FinTech technology that combines finance and information and communication technology, the need and social demands for a block chain technology-based trading system have increased significantly. In this study, a research model was developed and hypothesized through literature research on the concept of block chain technology, the technology acceptance model, and the unified theory of acceptance and use of technology. The research theories were tested by collecting data through surveys and analyzing the collected data. This study conducted empirical research to identify the factors influencing the user acceptance intention and utilization behavior of the block chain technology in introducing the block chain technology. First, factors affecting the acceptance intention of the blockchain user were performance expectation, effort expectation, social impact, and blockchain transparency variables. Second, the facilitation conditions and stakeholder confidence variables were analyzed as factors that did not affect the acceptability of the blockchain users. Third, variables such as blockchain transparency, stakeholder trust and intention of acceptance are factors that affect the usage behavior of the blockchain. Fourth, it was confirmed that the acceptance intention had a very high explanatory power on usage behavior of Blockchain technology.

A Novel Multi-link Integrated Factor Algorithm Considering Node Trust Degree for Blockchain-based Communication

  • Li, Jiao;Liang, Gongqian;Liu, Tianshi
    • KSII Transactions on Internet and Information Systems (TIIS)
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    • v.11 no.8
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    • pp.3766-3788
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    • 2017
  • A blockchain is an underlying technology and basic infrastructure of the Bitcoin system. At present, blockchains and their applications are developing rapidly. However, the basic research of blockchain technology is still in the early stages. The efficiency and reliability of blockchain communication is one of the research problems that urgently need to be studied and addressed. Existing algorithms may be less feasible for blockchain-based communication because they only consider a single communication factor (node communication capability or node trust degree) and only focus on a single communication performance parameter(communication time or communication reliability). In this paper, to shorten the validation time of blockchain transactions and improve the reliability of blockchain-based communication, we first establish a multi-link concurrent communication model based on trust degree, and then we propose a novel integrated factor communication tree algorithm (IFT). This algorithm comprehensively considers the node communication link number and the node trust degree and selects several nodes with powerful communication capacity and high trust as the communication sources to improve the concurrency and communication efficiency. Simulation results indicate that the IFT algorithm outperforms existing algorithms. A blockchain communication routing scheme based on the IFT algorithm can increase communication efficiency by ensuring communication reliability.

A Survey of the Application of Blockchain in Multiple Fields of Financial Services

  • Wang, Yiran;Kim, Dae-Kyoo;Jeong, Dongwon
    • Journal of Information Processing Systems
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    • v.16 no.4
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    • pp.935-958
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    • 2020
  • The core value of finance is credit. It can be said that without credit, there can be no finance. The distributed structure of the blockchain and the low-cost trust-building mechanism based on mathematical algorithms provide a new solution and path for solving and optimizing related problems in the financial field. The blockchain technology is applied in the development of the financial industry through consensus mechanisms, smart contracts, and distributed networks. In this research, a comprehensive survey of the blockchain technology is proposed in the development of financial services including equity crowdfunding and credit investigations in inclusive finance, cross-border remittance, Internet financial payment, P2P lending, supply chains finance, and the application of blockchain in the field of anti-money laundering. This paper discusses the role of blockchain in solutions to different issues in the financial field. It also discusses the architectures in different financial service application scenarios from the perspective of the financial trust mechanism and the perspective of the technology and rule change of blockchain participation in financial innovation. Finally, the problems and challenges of blockchain in financial services are discussed, and corresponding solutions are proposed.

Recoverable Private Key Scheme for Consortium Blockchain Based on Verifiable Secret Sharing

  • Li, Guojia;You, Lin;Hu, Gengran;Hu, Liqin
    • KSII Transactions on Internet and Information Systems (TIIS)
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    • v.15 no.8
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    • pp.2865-2878
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    • 2021
  • As a current popular technology, the blockchain has a serious issue: the private key cannot be retrieved due to force majeure. Since the outcome of the blockchain-based Bitcoin, there have been many occurrences of the users who lost or forgot their private keys and could not retrieve their token wallets, and it may cause the permanent loss of their corresponding blockchain accounts, resulting in irreparable losses for the users. We propose a recoverable private key scheme for consortium blockchain based on the verifiable secret sharing which can enable the user's private key in the consortium blockchain to be securely recovered through a verifiable secret sharing method. In our secret sharing scheme, users use the biometric keys to encrypt shares, and the preset committer peers in the consortium blockchain act as the participants to store the users' private key shares. Due to the particularity of the biometric key, only the user can complete the correct secret recovery. Our comparisons with the existing mnemonic systems or the multi-signature schemes have shown that our scheme can allow users to recover their private keys without storing the passwords accurately. Hence, our scheme can improve the account security and recoverability of the data-sharing systems across physical and virtual platforms that use blockchain technology.

The Trend of Blockchain in Vietnam and Its Implications for ROK

  • Cho, Hanbum (Albert);Choi, Jack;Nguyen, Huy-Nam;Nguyen, Thi-Hong
    • Journal of Multimedia Information System
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    • v.8 no.3
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    • pp.197-202
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    • 2021
  • Bitcoin and blockchain are often making headlines not only on TV or media but also among the public in today's society. These technologies have been developed after the risk of the centralized financial system came to the fore during the 2007 global financial crisis. Since then, an anonymous inventor called Satoshi Nakamoto penned the bitcoin white paper where a blockchain-based reference implementation was introduced. Bitcoin was able to achieve unprecedented growth by positioning itself as one of the top global currencies in terms of market capitalization after five years since its development. The pace of Vietnam's economic development is notably fast among Asian nations, while the nation was expected to be a Southeast Asian blockchain hub but they have banned virtual currency trading recently. However, they've also designated the State Bank of Vietnam (SBV) as a responsible agency for the research of blockchain-based cryptocurrencies, the construction of a service ecosystem, and their test operations. The fast-growing economy, increasing number of smartphone users, and the Vietnam government's support policies for startups substantiate these efforts. Therefore, this paper attempts to study the current status of Vietnam's blockchain technology that has been considered to be the center of blockchain systems right behind Singapore, and its implications for Korean companies.

MMOG User Participation Based Decentralized Consensus Scheme and Proof of Participation Analysis on the Bryllite Blockchain System

  • Yun, Jusik;Goh, Yunyeong;Chung, Jong-Moon;Kim, OkSeok;Shin, SangWoo;Choi, Jin;Kim, Yoora
    • KSII Transactions on Internet and Information Systems (TIIS)
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    • v.13 no.8
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    • pp.4093-4107
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    • 2019
  • Proof of Work (PoW) based blockchains have limitations in throughput, time consumption, and energy efficiency. In these systems, a miner will consume significant time and resources to obtain a reward for contributing to the blockchain. To overcome these limitations, recent research on blockchains are focused on accelerating the speed, scalability, and enhancing the security level. By enhancing specific procedures of blockchain system, the level of data integrity supported by the blockchain can become more robust, and efficient. In this paper, a new blockchain consensus model based on the Bryllite Consensus Protocol (BCP) is proposed to support a hyper-connected massively multiplayer online game (MMOG) ecosystem. The BCP scheme enables users to participate directly in new consensus processes through a Proof of Participation (PoP) algorithm. In this model, the consensus algorithm has a simpler form while maintaining high security level. In addition, because the BCP scheme gives users an equal chance to make a contribution to the blockchain, rewards are distributed in an equal fashion, which motivates user participation. The analysis of the proposed scheme is applied to the Bryllite consortium blockchain system (homed in Hong Kong), which is a new blockchain network developed for international game industries, gamers, and game events.

Blockchain Technology and Utilization Schemes in Tactical Communication Network

  • Yoo, In-Deok;Lee, Woo-Sin;Kim, Hack-Joon;Jin, So-Yeon;Jo, Se-Hyeon
    • Journal of the Korea Society of Computer and Information
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    • v.23 no.12
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    • pp.49-55
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    • 2018
  • In this paper, we propose schemes of blockchain utilization in tactical communication environment. The military tactical communication environment has similar characteristics with blockchain network such as distributed architecture, decentralization, and the need for data integrity. A communication node constituting a tactical communication network is constituted by a system capable of configuring and connecting a network for each node. When a communication node, having such capabilities, is configured as a node of blockchain network, various functions could be performed. In this paper, we propose utilization schemes of authentication, integrity, record management, and privilege control based blockchain technology. Functions for authentication, integrity verification, and record management need to ensure the stored data and could track history. The requirement of function's characteristics are matched to blockchain which is storing data sequentially and difficult to hack data, so that it could perform functionally and sufficiently well. Functions for authority control should be able to assign different privileges according to the state of the requestor. Smart contract will function when certain conditions are satisfied and it will be able to perform its functions by using it. In this paper, we will look over functions and utilization schemes of blockchain technology which could reliably share and synchronize data in a tactical communication environment composed of distributed network environment.

Apply Blockchain to Overcome Wi-Fi Vulnerabilities

  • Kim, Seong-Kyu (Steve)
    • Journal of Multimedia Information System
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    • v.6 no.3
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    • pp.139-146
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    • 2019
  • This paper, wireless internet such as Wi-Fi has a vulnerability to security. Blockchain also means a 'Ledger' in which transaction information that occurs on a public or private network is encrypted and shared among the network participants. Blockchain maintains information integrity by making it impossible for a particular node to tamper with information arbitrarily, a feature that would result in changes in the overall blockchain hash value if any one transaction information that constitutes a block was changed. The complete sharing of information through a peer-to-peer network will also cripple hacking attempts from outside, targeting specialized nodes, and prepare for the "single point of failure" risk of the entire system being shut down. Due to the value of these Blockchain, various types of Blockchain are emerging, and related technology development efforts are also actively underway. Various business models such as public block chains such as Bitcoin, as well as private block chains that allow only certain authorized nodes to participate, or consortium block chains operated by a select few licensed groups, are being utilized. In terms of technological evolution, Blockchain also shows the potential to grow beyond cryptocurrency into an online platform that allows all kinds of transactions with the advent of 'Smart Contract'. By using Blockchain technology, the company makes suggestions to overcome the vulnerability of wireless Internet.