Distributed Ledger Technology: Blockchain Compared to Directed Acyclic Graph

“…The section presented (See table 11) some of the empirical / theoretical studies analyzing the scalability of blockchain that we found during our survey. various comparative studies including [101], [102], [105], [103], encompassing different blockchain technology aspects are analyzed,…”

Section: Summary Of Approaches Analyzing Blockchain Scalabilitymentioning

confidence: 99%

Scalable blockchains — A systematic review

Nasir

Arshad

Khan

et al. 2022

Future Generation Computer Systems

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“…Scalability measurements were made: version 2 showed an average speed of 2,234 tps and version 3 -3,600 tps. The distributed protocol relies on the Directed Acyclic Graph (DAG) [15], [16] with rapid finality Proof-of-Stake (PoS) consensus. The launch of the public mainnet is scheduled for this autumn.…”

Section: Platform Overviewmentioning

confidence: 99%

An incentive system for decentralized DAG-based platforms

Mazurok¹,

Leonchyk²,

Grybniak³

et al. 2022

AAIT

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Decentralized public platforms are becoming increasingly popular due to a growing number of applications for various areas ofbusiness, finance, and social life. Authorless nodes can easily join such networks without any confirmation, making a transparent system of rewards and punishments crucial for the self-sustainability of public platforms. To achieve this, a system for incentivizing and punishing Workers’ behavior should be tightly harmonized with the corresponding consensus protocol, taking into account all of its features, and facilitating a favorable and supportive environment with equal rights for all participants. The main purpose of re-wards is to incentivize Workers to follow the protocol properly, and to penalize them for any type of misbehavior. The issues of block rewarding and punishing in decentralized networks have been well studied, but the DAG referential structure of the distributed ledger forces us to design methods that are more relevant. Since referential structures cannot be reliably validated due to the fact that they are built on the basis of the instantaneous visibility of blocks by a certain node, we propose to set rewards for blocksin the DAG network based on the degree of confidence of topological structures. In doing so, all honest nodes make common decisions based only on information recorded into the ledger, without overloading the network with additional interactions, since such data are al-ways identical and available.The main goal of this work is to design a fair distribution of rewards among honest Workers and estab-lish values for penalties for faulty ones, to ensure the general economic equilibrium of the Waterfall platform. The proposedap-proach has a flexible and transparent architecture that allows for its use for a wide range of PoS-based consensus protocols. The core principles are that Workers' rewards depend on the importance of the conducted work for block producing and achieving consensusand their penalties must not be less than the potential profit from possible attacks. The incentivizing system can facilitate protection from various kinds of attacks, namely, so-called Nothing-at-stake, Rich-get-richer, Sybil, and Splitting attacks, and from some specif-ic threats related to a DAG structure.Keywords: Tokenomics;incentivizing; blockchain; directed acyclic graph; consensus protocolCopyright©Odessa Polytechnic National University, 2022. All rights reservedFor citation:Mazurok I., Leonchyk Y., Grybniak S., Nashyvan O., Masalskyi R.An incentive system for decentralized DAG-based platforms. Applied Aspects of Information Technology.2022; Vol.5No.3: 196–207. DOI:https://doi.org/10.15276/aait.05.2022.13INTRODUCTIONThis work deals with the incentivizationof nodes of the Waterfall platform to honestly perform their duties for achieving a sustainable, secure, and high-performing network, by driving behaviors of all participants with economic leverages. However, it can be considered as a standalone work thatpresents an incentive system that can be implemented, in part or in whole, to other Proof-of-Stake (PoS) [1] consensus protocols of decentralized networks. ©Mazurok I., Leonchyk Y., Grybniak S.,Nashyvan O., Masalskyi R., 2022The issues of creating a fair distribution of rewards among platform Workers and setting values of penalties are addressed in detail.The incentive mechanism is the backbone of any tokenomics system(tokenomics is a term that captures a token’s economics). Itshould facilitate nodes’ positive actions such as processing transactions,validating blocks,and finalizing the ledger.We should note that users can join or leave public networks at their own discretion. Obviously, ifrewards do not cover Workers’ expenditures or are distributed unfairly, honest participants have no incentive to participate in such a network. A good tokenomics practice includes buildingacommunityThis is an open access article under the CC BY license (http://creativecommons.org/licenses/by/3.0)

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“…Such a model produces a constant and continue increasing of its size and this generates a crucial scalability issue that must be effectively faced in the future [20]. By way of example, at the beginning of 2018 the size of Bitcoin ledger has been evaluated about 145-gigabyte and that of Ethereum ledger about 40-gigabyte [11].…”

Section: Consensus Mechanismmentioning

confidence: 99%

“…return R 9: end procedure 11 A management tool able to display, track and analyze a series of information.…”

mentioning

confidence: 99%

Internet of Entities (IoE): A Blockchain-based Distributed Paradigm for Data Exchange between Wireless-based Devices

Saia

Carta

Recupero

et al. 2019

Proceedings of the 8th International Conference on Sensor Networks

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The exponential growth of wireless-based solutions, such as those related to the mobile smart devices (e.g., smart-phones and tablets) and Internet of Things (IoT) devices, has lead to countless advantages in every area of our society. Such a scenario has transformed the world a few decades back, dominated by latency, into a new world based on an efficient real-time interaction paradigm. Recently, cryptocurrency have contributed to this technological revolution, the fulcrum of which are a decentralization model and a certification function offered by the socalled blockchain infrastructure, which make it possible to certify the financial transactions, anonymously. However, it should be observed how this challenging scenario has generated new security problems directly related to the involved new technologies (e.g., e-commerce frauds, mobile bot-net attacks, blockchain DoS attacks, cryptocurrency scams, etc.). In this context, we can acknowledge that the scientific community efforts are usually oriented toward specific solutions, instead to exploit all the available technologies, synergistically, in order to define more efficient security paradigms. This paper aims to indicate a possible approach able to improve the security of people and things by introducing a novel blockchain-based distributed paradigm to security defined Internet of Entities (IoE). It represents an effective mechanism for the localization of people and things, which exploits both the huge number of existing wireless-based devices and the blockchain-based distributed ledger technology, overcoming the limits of traditional localization approaches, but without jeopardizing the user privacy. Its operation is based on two core elements with interchangeable roles, entities and trackers, which can be very common elements such as smart-phones, tablets, and IoT devices, and its implementation requires minimal efforts thanks to the existing infrastructures and devices. The possibility of including further information to those of localization, such as those generated by device sensors, gives rise to a novel and widely exploitable data environment, whose applications can be extended to contexts different from that of the localization of people and things, e.g., eHealth, Smart Cities, and so on.

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Distributed Ledger Technology: Blockchain Compared to Directed Acyclic Graph

Cited by 4 publications

References 6 publications

Scalable blockchains — A systematic review

Scalable blockchains — A systematic review

An incentive system for decentralized DAG-based platforms

Internet of Entities (IoE): A Blockchain-based Distributed Paradigm for Data Exchange between Wireless-based Devices

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