Towards Scalability Trade-off and Security Issues in State-of-the-art Blockchain

Gountia, Debasis

doi:10.4108/eai.8-4-2019.157416

Cited by 7 publications

(4 citation statements)

References 11 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…For comparison, in the case of Ethereum, the maximum capacity is 15 transactions per second, and permissions Blockchains typically offer much higher transaction throughput than an open and permissionless network. Changes to the Bitcoin Blockchain's Proof of Work parameters could be an option to increase scalability, for example, decreasing the block generation time or increasing the block size 8 . Still, these are unlikely feasible solutions since they cause effects such as orphan blocks, forks, chain re-organization, slower network propagation, and in extreme cases, security vulnerabilities such as selfish mining and double-spend attacks.…”

Section: Literature Surveymentioning

confidence: 99%

NCABS: A Novel Consensus Algorithm for Blockchain Network Scalability

Jabbar,

Khalid,

Ahmad

et al. 2024

Preprint

View full text Add to dashboard Cite

The scalability of Blockchain is a significant factor that requires attention for it to compete with traditional solutions. One of the main concerns in the scalability aspect of Blockchain is throughput and latency. The slow transaction verification process is one of the primary causes of this issue in the founding systems and their descendant solutions. Verifying transactions falls on a cluster of transaction validators comprising selected transaction validators’ nodes. One way to improve scalability is to design a solution that offers faster Proof of Work, i.e., at the level of the consensus algorithm. This paper proposes a method for accelerating the consensus process based on parallel rather than solo mining. The objective is to ensure that up to two or more miners exert the same effort in solving a specific block to avoid additional resource utilization. The key components of the proposed method, called NCABS, are the manager selection process, the distribution of work, and the reward system. The idea is implemented and tested using various case scenarios, including varied node densities, throughput, network latency, resource utilization, network scalability, and responsiveness as the key performance evaluation parameters. The results have shown that NCABS provided better throughput, less resource utilization, a higher transaction commit rate, and less latency than Practical Byzantine Fault Tolerance (PBFT).

show abstract

Section: Literature Surveymentioning

confidence: 99%

NCABS: A Novel Consensus Algorithm for Blockchain Network Scalability

Jabbar,

Khalid,

Ahmad

et al. 2024

Preprint

View full text Add to dashboard Cite

show abstract

“…This entity can be one of the current marketplaces that register the URL of the Work along with other information into the blockchain, which is usually the Ethereum blockchain. Other related approaches can be found in [13][14][15].…”

Section: Proposed Watermarking Certification Protocolmentioning

confidence: 99%

Review on Watermarking Techniques Aiming Authentication of Digital Image Artistic Works Minted as NFTs into Blockchains

Mayer¹

2023

Information Security and Privacy in the Digital World - Some Selected Topics

View full text Add to dashboard Cite

The recent creation of Non Fungible Tokens (NFTs) has enabled a multibillionaire market for digital artistic works including images or sequence of images, videos, and animated gifs. With this new trend issues regarding fraud, stolen works, authenticity, and copyright came along. The goal of this chapter is to provide an overview of the watermarking techniques that can be employed to mitigate those issues. We will discuss transparency, robustness, and payload of watermarking techniques aiming to educate the artists, researchers, and developers about the many approaches that watermarking techniques provide and the resulting trade-offs. We focus on fragile watermarking techniques due to their high transparency for embedding into artistic works. We discuss the spread spectrum and Least Significant Bit techniques. We describe the usual process of NFT minting into a blockchain and propose a more secure certification protocol with watermarking which employs the same usual NFT minting offered by current marketplaces. The proposed certification protocol mints a checksum string into a blockchain, ensuring the validity of the watermark and the information embedded into this watermark. This proposed protocol validates the date of creation and author identification which are transparently embedded in the artistic work, thus, increasing the security and confidence of markets for artistic works transactions.

show abstract

“…As discussed in the Ledgerium and zkLedger case studies, the scalability of blockchain is a hurdle to the effective implementation of the triple‐entry accounting system in practice (Gountia, 2019). Over the last two years, projects have begun to address the scalability of blockchain.…”

Section: Case Studiesmentioning

confidence: 99%

Triple‐entry accounting with blockchain: How far have we come?

Cai

2019

Accounting & Finance

107

View full text Add to dashboard Cite

Although double‐entry accounting has been used for more than 600 years, today’s era of disruptive technological change utilising blockchain and FinTech has led to the emergence of another promising accounting method: triple‐entry accounting. This paper explores triple‐entry accounting, from its conception to the current state of play, using three case studies. We find that: (i) in a blockchain ecosystem, for some accounts, business entities will only need to perform a single entry internally and the opposite entry will be recorded in a public shared ledger; and (ii) triple‐entry accounting is a new and a more efficient way to address fundamental trust and transparency issues that plague current accounting systems. Triple‐entry accounting with blockchain, when properly implemented, can fundamentally improve accounting.

show abstract

Towards Scalability Trade-off and Security Issues in State-of-the-art Blockchain

Cited by 7 publications

References 11 publications

NCABS: A Novel Consensus Algorithm for Blockchain Network Scalability

NCABS: A Novel Consensus Algorithm for Blockchain Network Scalability

Review on Watermarking Techniques Aiming Authentication of Digital Image Artistic Works Minted as NFTs into Blockchains

Triple‐entry accounting with blockchain: How far have we come?

Contact Info

Product

Resources

About