The Blockchain as a Decentralized Security Framework [Future Directions]

Puthal, Deepak; Malik, Nisha; Mohanty, Saraju P.; Kougianos, Elias; Yang, Chi

doi:10.1109/mce.2017.2776459

Cited by 379 publications

(148 citation statements)

References 9 publications

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“…Unlike much of the literature on the topic, this paper proposes a critical perspective, emphasizing that the Blockchain should not be considered as a one-trick tool to be applied to every possible domain but, rather, a new technological advancement with its own niche of use. A similar perspective is also discussed in [16]. Particular applications of DLTs to store healthcare informations and IDs are presented in [17] and [18], while [19] proposes to employ Blockchain as a means for arbitrating roles and permissions in IoT.…”

Section: B Related Workmentioning

confidence: 99%

Distributed Ledger Technology for Smart Cities, the Sharing Economy, and Social Compliance

2018

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This paper describes how Distributed Ledger Technologies can be used to enforce social contracts and to orchestrate the behaviour of agents trying to access a shared resource. The first part of the paper analyses the advantages and disadvantages of using Distributed Ledger Technologies architectures to implement certain control systems in an Internet of Things (IoT) setting, and then focuses on a specific type of DLT based on a Directed Acyclic Graph. In this setting we propose a set of delay differential equations to describe the dynamical behaviour of the Tangle, an IoTinspired Directed Acyclic Graph designed for the cryptocurrency IOTA. The second part proposes an application of Distributed Ledger Technologies as a mechanism for dynamic deposit pricing, wherein the deposit of digital currency is used to orchestrate access to a network of shared resources. The pricing signal is used as a mechanism to enforce the desired level of compliance according to a predetermined set of rules. After presenting an illustrative example, we analyze the control system and provide sufficient conditions for the stability of the network. I. INTRODUCTORY REMARKSBitcoin, and the technology that underpins it, Blockchain, have recently become a source of great debate and controversy in both business and scientific communities. To its supporters, Distributed Ledger Technology (DLT) (the agnostic term for Blockchain and related technologies)[1][2] is a key technology that will unlock new disruptive business models such as peer to peer trading, protect the rights of individuals, democratise society, and remove the need for central arbiters in many applications (the greedy middle that manages and exploits our assets and identities for financial reward). To its detractors, DLT is nothing more than pure hype, irrational speculation, and a means to enable new forms of illegality built on the anonymity that underpins the technology. DLT as a technology is truly unparalleled in its ability to split and divide opinions. Countries such as Switzerland and Singapore are openly embracing its potential, while other countries, such as China and India are trying to regulate its use [3]. Leading societal thinkers are also split on DLT; with George Soros 1 thinking it to be nothing more than a bubble and others such as Al Gore embracing the idea that algorithms might one day assume some of the functions of government 2 . A first version of this manuscript is posted to the Arxiv, arXiv:1807.00649 1 https://www.forbes.com/sites/gurufocus/2018/01/25/george-soros-fromdavos-bitcoin-is-a-typical-bubble/#7a1d097929d0 2 https://www.forbes.com/sites/ksamani/2017/10/04/how-crypto-willreshape-capitalism-as-we-know-it/2/#5b9daa0e6ed4 Though the schism in DLT thinking is very real, everyone seems to agree on one basic fact -that DLT is potentially a very disruptive technology. Even opponents of the technology are exploring the many ways it can be used, and the consequent potential implications for society. Roughly speaking, as the name suggests, DLT is a technology...

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Section: B Related Workmentioning

confidence: 99%

Distributed Ledger Technology for Smart Cities, the Sharing Economy, and Social Compliance

2018

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“…Each participant of the system maintains his/her own local copy of the blockchain, and they follow a pre-defined consensus protocol to determine the next block to be added. Blockchain technology has found many applications [6], [5], [13], [11], and is used to build cryptocurrency systems without relying on a centralized party. The basic idea is to embed transactions into blocks and store the complete transaction history on the blockchain.…”

Section: B Cmentioning

confidence: 99%

Supporting Blockchain-Based Cryptocurrency Mobile Payment With Smart Devices

Chen

Gao

et al. 2020

IEEE Consumer Electron. Mag.

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The smart device owning rate such as smart phone and smart watch is higher than ever before and mobile payment has become one of the major payment methods in many different areas. At the same time, blockchain based cryptocurrency is becoming a non-negligible type of currency and the total value of all types of cryptocurrency has reached USD 200 billion. Therefore, it is a natural demand to support cryptocurrency payment on mobile devices. Considering the poor infrastructure and low penetration of financial service in developing countries, this combination is especially attractive. The high storage cost and payment processing latency are the two main obstacles for mobile payment using cryptocurrency. We propose two different schemes for cryptocurrency mobile payment, one involves a centralized bank and the other one does not require any centralized party. We also provide a solution for the bank to meet KYC (know your customer)/AML (anti money laundering) compliance requirements when it is involved in cryptocurrency mobile payment processing.

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“…A central entity also raises trust, privacy and security issues. There is also a delay added by the central entity during the transaction process unlike a peer-to-peer (P2P) communication [1,2].…”

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%

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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The Blockchain as a Decentralized Security Framework [Future Directions]

Cited by 379 publications

References 9 publications

Distributed Ledger Technology for Smart Cities, the Sharing Economy, and Social Compliance

Distributed Ledger Technology for Smart Cities, the Sharing Economy, and Social Compliance

Supporting Blockchain-Based Cryptocurrency Mobile Payment With Smart Devices

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

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