Research on Cross-chain Technology of Blockchain

Lin, Shaofeng; Kong, Yihan; Nie, Shaotao; Xie, Wenjia; Du, Jia

doi:10.1109/icsgea53208.2021.00098

Cited by 19 publications

(24 citation statements)

References 4 publications

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“…However, with the increasing adoption of BSMGs, there will be an emergence of heterogeneous chains which may be public, private or consortium types of blockchain. Since the chains are inherently different, there may be lack of trust, communication issues, and difficulty in exchanging data and assets [77]. However, in order to prevent the monopoly of one type of blockchain, enhance scalability, and ensure equitable participation of all users, BSMGs must be interoperable.…”

Section: Interoperability Between Heterogeneous Blockchain Platformsmentioning

confidence: 99%

“…There are mainly three methods of cross-chain interaction as reviewed in Refs. [77,78] -hash lock, notary mechanism, and relay chain.…”

Section: Interoperability Between Heterogeneous Blockchain Platformsmentioning

confidence: 99%

“…However, ILP and HTLC -in general, according to Ref. [77] -are currently limited to asset transfer. Notary mechanism is a simple cross-chain which consists of a trusted federation of notaries which acts as an intermediary between the two heterogeneous chains to be linked.…”

Section: Interoperability Between Heterogeneous Blockchain Platformsmentioning

confidence: 99%

“…This concept is implemented in the Liquid Network which is a Bitcoin layer-2 which executes trustless swaps [81]. The major drawback of this mechanism is that if the notary is attacked, it becomes untrustworthy, exposing a huge risk of single point failure [77].…”

Section: Interoperability Between Heterogeneous Blockchain Platformsmentioning

confidence: 99%

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Conceptualization of Blockchain Enabled Interconnected Smart Microgrids

Dinesha¹,

Balachandra²

2022

Preprint

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<p> Power systems are undergoing rapid transitions to incorporate renewable sources of generation and to combat climate change. Next stage of transitions will lead to a shift from large-scale, centralized systems to networks of smallsized, distributed electricity systems which require distributed or decentralized ledgers for database management for efficient transactions. Distributed Ledger Technology (DLT) are a form of decentralized ledgers where the transactions (energy, information and money) among various entities are maintained. One such DLT is blockchain technology which offers several advantages. Data recorded in blockchains are difficult to tamper with; have privacy protection; facilitate fast, accurate and real-time settlement of financial transactions. Contemporary research has started focusing on their possible applications in energy systems. State-of-the-art suggests that while business and market aspects have been extensively discussed, the electrical constraints and implementation methodologies have not been adequately addressed. Furthermore, all the reviewed projects have implemented only peer-to-peer transactions that are not scalable. To incorporate the new entities like prosumers, intermicrogrid transactions and interactions with the legacy power grid, new structural and operational frameworks are necessary. The proposed research explores the possibility of developing blockchain enabled smart microgrids (BSMG) with the above frameworks. It aims to build a conceptual framework of BSMG, including the transaction protocols and process flows. It proposes inclusion of network constraints in a three-levelled transaction setup which is executed over a four-layered architecture. Another practical challenge is that BSMGs may be set up on different blockchain platforms. Hence, this paper also proposes implementing Inter-Blockchain Protocol for the first time to include interoperability and communication between different platforms. Finally the performance metrics that will be used to validate the BSMGs are outlined. </p>

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Section: Interoperability Between Heterogeneous Blockchain Platformsmentioning

confidence: 99%

“…There are mainly three methods of cross-chain interaction as reviewed in Refs. [77,78] -hash lock, notary mechanism, and relay chain.…”

Section: Interoperability Between Heterogeneous Blockchain Platformsmentioning

confidence: 99%

Section: Interoperability Between Heterogeneous Blockchain Platformsmentioning

confidence: 99%

Section: Interoperability Between Heterogeneous Blockchain Platformsmentioning

confidence: 99%

See 2 more Smart Citations

Conceptualization of Blockchain Enabled Interconnected Smart Microgrids

Dinesha¹,

Balachandra²

2022

Preprint

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“…Interoperability should allow the transfer of assets and exchange of data between chains. This involves converting the value of an asset stored originally on one chain to the value of the asset on the other chain which is designated to be the destination chain without the loss or gain of value [20]. Another challenge is to verify the transaction status in a trustless environment.…”

Section: Current Status Of Interoperabilitymentioning

confidence: 99%

Achieving Interoperability in Heterogeneous Blockchain Users Through Inter-Blockchain Communication Protocol

Dinesha¹,

Balachandra²

2022

Preprint

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CCUBI: A cross‐chain based premium competition scheme with privacy preservation for usage‐based insurance

Sun

Wang

et al. 2022

Int J of Intelligent Sys

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Usage‐based insurance (UBI) provides reasonable vehicle insurance premiums based on vehicle usage and driving behavior. In general, there are three major issues in realizing intelligent UBI systems. First, UBI evaluation mechanisms are not auditable to drivers. Insurers may thus deliberately adjust the UBI premiums. Second, the process of collecting driving data by insurers may lead to serious privacy breaches. Third, forging safer driving data for reducing insurance premiums may cause economic losses for insurers. To address these challenges, in this study, we propose CCUBI, a cross‐chain‐based premium competition scheme with privacy preservation for intelligent UBI systems. We introduce tamper‐resistant blockchain and smart contracts to construct credible insurance mechanisms. The cross‐chain technology connects these blockchains in the entire network to form an open premium competition scheme. Vehicle owners can assess designated insurers by sharing historical data with them to get a suitable CCUBI plan. In addition, we propose a data aggregation method used for CCUBI analysis with privacy preservation. Vehicle owners only publish proofs of the driving data. Proofs can still maintain privacy and computability in cross‐chain flows. Finally, we adopt roadside units to detect forged driving data. We conduct a detailed security analysis. Experimental results also demonstrate the efficiency of CCUBI.

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Research on Cross-chain Technology of Blockchain

Cited by 19 publications

References 4 publications

Conceptualization of Blockchain Enabled Interconnected Smart Microgrids

Conceptualization of Blockchain Enabled Interconnected Smart Microgrids

Achieving Interoperability in Heterogeneous Blockchain Users Through Inter-Blockchain Communication Protocol

CCUBI: A cross‐chain based premium competition scheme with privacy preservation for usage‐based insurance

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