• 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.

• KNOM Review
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• v.24 no.2
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• pp.1-12
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• 2021

Recently, research on CBDC (Central Bank Digital Currency) has been actively conducted for various reasons by countries around the world. In addition, with the dazzling development of blockchain technology, blockchain technology is being adopted in CBDC. In this paper, we propose a blockchain-based CBDC system that can be effectively used in the traditional banking system. We also analyze the requirements of CBDC and suggest ways to commercialize CBDC. We present a system design and implementation method, especially in terms of compatibility, interoperability, and privacy.

• The Journal of Fisheries Business Administration
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• v.52 no.1
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• pp.65-82
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• 2021

This study utilizes the IPA (Importance-Performance Analysis) method to assess the importance, possibility, and urgency of using blockchain technology for fisheries sectors and the related policies. Based on a field survey targeting experts and stakeholders in the fisheries and blockchain technology sectors, the following major results and corresponding implications are drawn. First of all, the respondents of our survey have an outlook that the introduction and utilization of blockchain will be required in four major parts. These parts include i) the seafood' information system managed by the government or public institutions, ii) traceability and certification process for domestic and foreign seafoods, iii) meeting the need of seafood safety from consumers, and iv) taking prompt actions to seafood safety related accidents. Next, the seafood information system managed by the government or public institutions has been limited in maintaining information consistency and continuity once the fisheries ministries and departments are integrated, closed or partially transferred. Thus, it is assessed that the technology will be able to improve consistency and continuity of the seafood information in case of applying blockchain to the seafood information management system. This result that blockchain is necessary for the seafood information system have a significant implication in Korea's seafood management which has been independently controlled until now. Lastly, the application of blockchain to seafood traceability and certification systems has the most well-known cases through international and domestic pilot projects, and the results of our survey reflect this reality. Our results contribute to showing an additonal characteristics of blockchain in the fisheries sector, resulting in the possiblity that blockchain can be used for taking swift steps in the event of seafood safety accidents and meeting the need of seafood consumers for safety.

• International journal of advanced smart convergence
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• v.10 no.4
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• pp.198-205
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• 2021

With the development of blockchain technology, the scope of blockchain applications has expanded rapidly. Blockchain decentralization allows transaction participants to make transparent and safe transactions without a third trust agency. A distributed ledger-based system enables transparent and trusted business for anonymous users. For this reason, many companies apply blockchain to various fields such as logistics, electronic voting, and real estate. Despite this interest, there are still not enough case studies confirming the potential of blockchain as a concrete business model. Therefore, it is necessary to study how blockchain technology can change the existing business model and connect it to a new business model. In this paper, we propose blockchain-based business models and workflow types in various fields such as healthcare, logistics, and energy. We also present application cases. We expect to help companies apply blockchain to their business.

• Journal of Distribution Science
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• v.17 no.11
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• pp.93-101
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• 2019

Purpose: Blockchain technology suggests ways to solve the problems in the existing industry. Among them, Cryptocurrency system, which is an element of Blockchain technology, is a very important factor for operating Blockchain. While Blockchain cryptocurrency has attracted attention, studies on cryptocurrency prices have been mainly conducted, however previous studies mainly conducted on Bitcoin prices. On the other hand, in the context of the creation and trading of various cryptocurrencies based on the Blockchain system, little research has been done on cryptocurrencies other than Bitcoin. Hence, this study attempts to find variables related to the prices of Dash, Litecoin, and Monero cryptocurrencies using machine learning techniques. We also attempt to find differences in the variables related to the prices for each cryptocurrencies and to examine machine learning techniques that can provide better performance. Research design, data, and methodology: This study performed Dash, Litecoin, and Monero price prediction analysis of cryptocurrency using Blockchain information and machine learning techniques. We employed number of transactions in Blockchain, amount of generated cryptocurrency, transaction fees, number of activity accounts in Blockchain, Block creation difficulty, block size, umber of created blocks as independent variables. This study tried to ensure the reliability of the analysis results through 10-fold cross validation. Blockchain information was hierarchically added for price prediction, and the analysis result was measured as RMSE and MAPE. Results: The analysis shows that the prices of Dash, Litecoin and Monero cryptocurrency are related to Blockchain information. Also, we found that different Blockchain information improves the analysis results for each cryptocurrency. In addition, this study found that the neural network machine learning technique provides better analysis results than support-vector machine in predicting cryptocurrency prices. Conclusion: This study concludes that the information of Blockchain should be considered for the prediction of the price of Dash, Litecoin, and Monero cryptocurrency. It also suggests that Blockchain information related to the price of cryptocurrency differs depending on the type of cryptocurrency. We suggest that future research on various types of cryptocurrencies is needed. The findings of this study can provide a theoretical basis for future cryptocurrency research in distribution management.

• Journal of Integrative Natural Science
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• v.14 no.2
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• pp.65-72
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• 2021

This paper discusses on the implementation of blockchain system, specifically the private system for Energy trading purpose. Blockchain is records bundled together in blocks and added to the chain after ledger is generated. All the blocks in the entire networks should be same contents and also only the permitted nodes can join the chain in the private blockchain system, thus not that same block and permitted nodes cannot be accepted in terms of proof-of-work phase. We implement the all stages which are necessary to process blockchain system. After coding the whole process, we test and conclude that the system is correctly working in terms of the functions implemented.

• Journal of Information Technology Services
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• v.20 no.6
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• pp.17-43
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• 2021

Currently, various discussions are underway to establish a more advanced management system for public rental housing. Also, it calls for improvement methods for problems arising in management of the current rental housing system. In this regard, this study aims to evaluate determinants that affect user acceptance intention of blockchain technology to implement a new system that complements drawbacks of the current public rental housing system. The study uses the Unified Theory of Acceptance and Use of Technology (UTAUT) as a theoretical model; the study model utilizes three UTAUT variables -performance expectancy, social influence, and Facilitating conditions-, applies security, availability, and reliability that are perceived from blockchain technology as external parameters to facilitate understanding of user acceptance intention of blockchain technology, and evaluates whether innovativeness can regulate the influence of performance expectancy, social influence, and Facilitating conditions on user acceptance intention of blockchain technology. Based on the significant survey result where 274 IT technicians participated, the study applies structural equation modeling to explore structure of user acceptance intention in the blockchain-based management system for public rental housing. As a result, security-reliability and availability are found to factors as determinants for user acceptance intention, affecting implementation of the public rental housing management system, while innovativeness shows no significant statistical results related to regulation effect. This study has implications in that it understands characteristics of blockchain and empirically analyzes the relationship between the characteristics and acceptance intention to enable blockchain's contribution to activate the public rental housing management system in the future.

• International Journal of Computer Science & Network Security
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• v.23 no.6
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• pp.181-192
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• 2023

Blockchain system brought innovation in the area of accounting, credit monitoring and trade secrets. Consensus algorithm that considered the central component of blockchain, significantly influences performance and security of blockchain system. In this paper we presented four consensus protocols specifically as Proof of Work (PoW), Proof of Stake (PoS), Delegated Proof of Stake (DPoS) and Practical Byzantine Fault-Tolerance (PBFT), we also reviewed different security threats that affect the performance of Consensus Protocols and precisely enlist their counter measures. Further we evaluated the performance of these Consensus Protocols in tabular form based on different parameters. At the end we discussed a comprehensive comparison of Consensus protocols in terms of Throughput, Latency and Scalability. We presume that our results can be beneficial to blockchain system and token economists, practitioners and researchers.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.21 no.12
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• pp.873-879
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• 2020

The importance of data as a core resource of the 4th industrial revolution is emerging, and companies illegally collect and use personal data. In the financial sector, active research is conducted to safely manage personal data and provide better services using blockchain, big data, and AI technology. In this paper, we propose a system that can safely manage personal data by using blockchain technology, which can be used without changing the existing system. The composition of this system consists of a blockchain, blockchain linkages, a service provider, and a user (i.e., an app). Blockchain can be used regardless of its type and form, and services are provided by classifying blockchains and services in the blockchain linkages. Service providers can access personal data only after requesting and receiving delegated permission from users. Existent MyData services store all data in a user's mobile phone, so information may get leaked due to jailbreaks or rooting. But in the proposed system, personal data are stored in blockchain so information leakage can be prevented. In the future, we will study ways to provide customized services using personal data stored in blockchain.

• Electronics and Telecommunications Trends
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• v.33 no.1
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• pp.45-56
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• 2018

A Blockchain is a type of distributed ledger system that consists of a large number of nodes. A block is a container in which transactions are included, and the transactions can be recorded in chronological order by chaining blocks. To work properly, it is essential that the nodes in the Blockchain system have the same image of the chained-blocks. Blockchain systems use various types of consensus algorithms to achieve the same states among the nodes, and the fundamental elements in these algorithms are proof of work and the main chain selection policy, particularly in permissionless Blockchain systems. However, consensus algorithms for permissioned Blockchain systems can be completely different from those of permissionless blockchain systems. In this paper, we overview the basic working mechanism of consensus algorithms, and briefly introduce a few that are currently being applied.