• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.19 no.3
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• pp.25-32
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• 2019

The core of the block chain technology is solving the problem of agreement on double payment, and the PoW, PoS and DPoS algorithms used for this have been studied. PoW in-process proofs are consensus systems that require feasible efforts to prevent minor or malicious use of computing capabilities, such as sending spam e-mail or initiating denial of service (DoS) attacks. The proof of the PoS is made to solve the Nothing at stake problem as well as the energy waste of the proof of work (PoW) algorithm, and the decision of the sum of each node is decided according to the amount of money, not the calculation ability. DPoS is that a small number of authorized users maintain a trade consensus through a distributed network, whereas DPS provides consent authority to a small number of representatives, whereas PoS has consent authority to all users. If PoS is direct democracy, DPoS is indirect democracy. This study aims to contribute to the continuous development of the related field through the study of the algorithm of the block chain agreement.

• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.19 no.5
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• pp.25-32
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• 2019

The purpose of this study is to investigate how to make a proper investment in ICO in the market. Previously, companies used to borrow money from banks or to obtain investments from venture capital (VC) and angel investors, but now ICOs are used as a new type of funding and financing model. The ICO sells the tokens or coins created on the blockchain openly online to raise the necessary funds, and provides the market value by paying the tokens or coins as much as the investment amount. According to this study, the limitations of the ICO market are (1) difficulties in evaluating the company, (2) uncertainties in investments, (3) lack of legal safeguards, and (4) measures to secure corporate stability after recruitment. At present, there is no way to cope with this systematically since the ICO is not protected in the legal framework. Nevertheless, we investigated the ways to make proper investment in the existing ICO market. In investing in ICO, investors should (1) consider investment methods and profitability, and (2) verify and judge investment fraud through various channels (ex. Homepage, composition team profile, etc.) and make investments based on this. This study will contribute to the formation of a healthy ICO market by understanding the newly emerged ICO market and studying the considerations when investing in it, thereby contributing to the right investor training and reducing the mass production of consumer damages caused by fraud. The limitation of this study is that the domestic ICO has not yet been examined in the legal framework, so further research is needed when policy changes occur in the future.