Blockchain networks: Data structures of Bitcoin, Monero, Zcash, Ethereum, Ripple, and Iota

Abstract

Blockchain is an emerging technology that has enabled many applications, from cryptocurrencies to digital asset management and supply chains. Due to this surge of popularity, analyzing the data stored on blockchains poses a new critical challenge in data science. To assist data scientists in various analytic tasks for a blockchain, in this tutorial, we provide a systematic and comprehensive overview of the fundamental elements of blockchain network models. We discuss how we can abstract blockchain data as various types of networks and further use such associated network abstractions to reap important insights on blockchains' structure, organization, and functionality. This article is categorized under: Technologies > Data Preprocessing Application Areas > Business and Industry Fundamental Concepts of Data and Knowledge > Data Concepts Fundamental Concepts of Data and Knowledge > Knowledge Representation

An Optimal Algorithm for Secure Transactions in Bitcoin Based on Blockchain

“…For the original Bitcoin blockchain system, the average block size in the past year is 644.2 kB, including 1 682 transactions [43]. Deducting about 100 B of block headers and related information, it can be calculated that the size of each transaction is about It is 392 B.…”

Trustful Blockchain-Based Framework for Privacy Enabling Voting in a University

“…Newer sources identify the fifth type of transaction, in which z encrypted addresses are involved as senders and receivers, but there also exist public inputs or outputs. Therefore, the fifth transaction type is called mixed [58].…”

“…Monero uses ring signatures to make the inputs of a transaction private. Any third party can verify the veracity of the signature, but cannot identify the sender [58]. In the Monero platform, every user is anonymous, because it uses these three main techniques: stealth address (through which only the sender and receiver can determine where a payment was sent), ring signatures (which ensure that transaction outputs are untraceable), and RingCT (which facilitates hiding transaction amounts) [59].…”

“…Monero and Zcash require more resources than Bitcoin, because for Monero, transactions store 10 decoys for each input; therefore, the transaction increases in size on disk, while Zcash transaction validation requires a lot of memory and time [58]. The main difference between Zcash and Monero is that Zcash uses optional shielding, while Monero uses shields for all transactions [59].…”

“…In PoW, a block was mined every 13-15 s, whereas in PoS a block is now mined every 12 s. Further post-merge planned developments, such as sharding, may further increase transaction speed up to a theoretical potential of 100,000 transactions/s. Hyperledger supports many consensus mechanisms and can process up to 20,000 transactions/s [58]. Choosing one or the other depends on the use case.…”