Everything You Wanted to Know About the Blockchain: Its Promise, Components, Processes, and Problems

Puthal, Deepak; Malik, Nisha; Mohanty, Saraju P.; Kougianos, Elias; Das, Gautam

doi:10.1109/mce.2018.2816299

Cited by 341 publications

(187 citation statements)

References 10 publications

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“…If a person attempts to spend the same currency twice within a short period of time, miners will find solutions for both transactions. When this occurs, the blockchain resolves this by having miners accept the longest known fork, and this then becomes the main chain [1]. The other fork is orphaned and its transactions are nullified.…”

Section: Proof-of-work (Pow) Consensus Algorithmmentioning

confidence: 99%

“…The blockchain uses cryptographic hashes to maintain security and consistency, as shown in Fig. 5 [1]. Once a block has been added to the blockchain, it can neither be edited or deleted.…”

Section: Challenges Of Blockchain Technologymentioning

confidence: 99%

“…A "Transaction" is requested by a Computing Machine (i.e. "Node") Peer-to-Peer (P2P) network of "Nodes" Oldest Block [1,34,33,9,38].…”

Section: Transaction Completementioning

confidence: 99%

“…The introduction of the Internet aided the development of E-commerce and helped with the financial transactions among different entities [1,2]. These electronic financial transactions helped fuel trade growth.…”

Section: Introductionmentioning

confidence: 99%

“…Since then multi-frontal research is being undertaken to use blockchain technologies in a variety of applications, as summarized in Fig. 1 [1,2,5,6]. All the transactions performed between different entities are stored in the distributed ledger and after every successful transaction, the ledger is synchronized across every node in the network.…”

Section: Introductionmentioning

confidence: 99%

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PUFchain: A Hardware-Assisted Blockchain for Sustainable Simultaneous Device and Data Security in the Internet of Everything (IoE)

Mohanty

Yanambaka

Kougianos

et al. 2020

IEEE Consumer Electron. Mag.

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107

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This article presents the first-ever blockchain which can simultaneously handle device and data security, which is important for the emerging Internet-of-Everything (IoE). This article presents a unique concept of blockchain that integrates hardware security primitives called Physical Unclonable Functions (PUFs) to solve scalability, latency, and energy requirement challenges and is called PUFchain. Data management and security (and privacy) of data, devices, and individuals, are some of the issues in the IoE architectures that need to be resolved. Integrating the blockchain into the IoE environment can help solve these issues and helps in the aspects of data storage and security. This article introduces a new blockchain architecture called PUFchain and introduces a new consensus algorithm called "Proof of PUF-Enabled Authentication" (PoP) for deployment in PUFchain. The proposed PoP is the PUF integration into our previously proposed Proof-of-Authentication (PoAh) consensus algorithm and can be called "Hardware-Assisted Proof-of-Authentication (HA-PoAh)". However, PUF integration is possible in the existing and new consensus algorithms. PoP utilizes PUFs which are responsible for generating a unique key that cannot be cloned and hence provide the highest level of security. A PUF uses the nanoelectronic manufacturing variations that are introduced during the fabrication of an integrated circuit to generate the keys. Hence, once generated from a PUF module, the keys cannot be cloned or generated from any other module. PUFchain uses a PUF and Hashing module which performs the necessary cryptographic functions. Hence the mining process is offloaded to the hardware module which reduces the processing times. PoP is approximately 1,000× faster than the well-established Proof-of-Work (PoW) and 5× faster than Proof-of-Authentication (PoAh). The transaction time reduction compared to PoAh is 79.15%. An optimized ultra low power design of the PUF and hashing module also provides a significant decrease of power consumption.

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Section: Proof-of-work (Pow) Consensus Algorithmmentioning

confidence: 99%

“…The blockchain uses cryptographic hashes to maintain security and consistency, as shown in Fig. 5 [1]. Once a block has been added to the blockchain, it can neither be edited or deleted.…”

Section: Challenges Of Blockchain Technologymentioning

confidence: 99%

“…A "Transaction" is requested by a Computing Machine (i.e. "Node") Peer-to-Peer (P2P) network of "Nodes" Oldest Block [1,34,33,9,38].…”

Section: Transaction Completementioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%