Business transactions by public firms are required to be reported, verified, and audited periodically, which is traditionally a labor-intensive and time-consuming process. To streamline this procedure, we design FutureAB (Future Auditing Blockchain) which aims to automate the reporting and auditing process, thereby allowing auditors to focus on discretionary accounts to better detect and prevent fraud. We demonstrate how distributed-ledger technologies build investor trust and disrupt the auditing industry. Our multi-functional design indicates that auditing firms can automate transaction verification without the need for a trusted third party by collaborating and sharing their information while preserving data privacy (commitment scheme) and security (immutability). We also explore how smart contracts and wallets facilitate the computerization and implementation of our system on Ethereum. Finally, performance evaluation reveals the efficacy and scalability of FutureAB in terms of both encryption (0.012 seconds per transaction) and verification (0.001 seconds per transaction).
Data is of unprecedented importance today. The most valuable companies of today treat data as a commodity, which they trade and earn revenues. To facilitate such trading, data marketplaces have emerged. Present data marketplaces are inadequate as they fail to satisfy all the desirable properties - fairness, efficiency, security, privacy and adherence to regulations. In this article, we propose a blockchain enabled data marketplace solution that fulfills all required properties. We outline the design, show how to design such a system and discuss the challenges in building a complete data market…
Traditional machine learning algorithms use data from databases that are mutable, and therefore the data cannot be fully trusted. Also, the machine learning process is difficult to automate. This paper proposes building a trustable machine learning system by using blockchain technology, which can store data in a permanent and immutable way. In addition, smart contracts are used to automate the machine learning process. This paper makes three contributions. First, it establishes a link between machine learning technology and blockchain technology. Previously, machine learning and blockchain hav…
In this paper, we develop BlockMarkchain, as a secure data market place, where individual data sellers can exchange certified data with buyers, in a secure environment, without any mutual trust among the parties, and without trusting on a third party, as a mediator. To develop this platform, we rely on a smart contract, deployed on a secure public blockchain. The main challenges here are to verify the validity of data and to prevent malicious behavior of the parties, while preserving the privacy of the data and taking into account the limited computing and storage resources available on the bl…
Following in the footsteps of pioneer Bitcoin, many altcoins as well as coloured coins have been being developed and merchandised adopting blockchain as the core enabling technology. However, since interoperability and scalability, due to high and capped (in particular cases) transaction latency are deep-rooted in the architecture of blockchain technology, they are by default inherited in any blockchain based applications. Lightning Network (LN) is one of the supporting technologies developed to eliminate this impediment of blockchain technology by facilitating instantaneous transfers of crypt…
Additive manufacturing (AM), or 3D printing, is an emerging manufacturing technology that is expected to have far-reaching socioeconomic, environmental, and geopolitical implications. As the use of this technology increases, the need for validation of 3D designs grows. In order to create a marketplace in which 3D designs are traded, it is necessary to develop a platform that enables the attestation of the 3D designs and promotes truthfulness. In this paper, we introduce a novel concept of a distributed marketplace that will support the attestation of 3D printing designs. We build a mathematica…
Quartierstrom creates a peer-to-peer marketplace for locally generated solar power. The marketplace is implemented as a smart contract on a permissioned blockchain governed by all prosumers. Two privacy-by-design concepts are presented which guarantee that the users individual load profile is not leaked to any third party despite using a blockchain. The first approach leverages UTXO based coin mixing protocols in combination with an account-based on-chain smart contract. The second approach relies on an off-chain smart contract running in trusted execution environments.
Public and private blockchain for decentralized digital building twins and building automation system
School of Technology, Eastern Illinois University（东部伊利诺伊大学技术学院）；Myers-Lawson School of Construction, Virginia Polytechnic Institute and State University（弗吉尼亚理工学院和州立大学梅斯-劳森建设学院）
There appears to be an insatiable desire for spawning new bespoke blockchains to harness the functionality provided by blockchain technologies, resulting in a constant stream of blockchain start-up companies entering the market with their own unique vision and mission. Some target a particular niche market such as supply chain and financial services, while others strive to differentiate themselves from the increasingly saturated market by offering new functionality. This dynamic and constantly changing blockchain ecosystem makes it very challenging to keep abreast of all the latest breakthroug…
Peer-to-Peer (P2P) energy trading can facilitate integration of a large number of small-scale producers and consumers into energy markets. Decentralized management of these new market participants is challenging in terms of market settlement, participant reputation and consideration of grid constraints. This paper proposes a blockchain-enabled framework for P2P energy trading among producer and consumer agents in a smart grid. A fully decentralized market settlement mechanism is designed, which does not rely on a centralized entity to settle the market and encourages producers and consumers to…
ML-as-a-service (MLaaS) becomes increasingly popular and revolutionizes the lives of people. A natural requirement for MLaaS is, however, to provide highly accurate prediction services. To achieve this, current MLaaS systems integrate and combine multiple well-trained models in their services. Yet, in reality, there is no easy way for MLaaS providers, especially for startups, to collect sufficiently well-trained models from individual developers, due to the lack of incentives. In this paper, we aim to fill this gap by building up a model marketplace, called as Golden Grain, to facilitate model…
This paper presents a smart contract-based solution for autonomous administration of construction progress payments. It bridges the gap between payments (cash flow) and the progress assessments at job sites (product flow) enabled by reality capture technologies and building information modeling (BIM). The approach eliminates the reliance on the centralized and heavily intermediated mechanisms of existing payment applications. The construction progress is stored in a distributed manner using content addressable file sharing; it is broadcasted to a smart contract which automates the on-chain pay…
Green bonds have been shown to be effective tool for sustainability however market growth is impeded by high issuance and transaction costs. The lack of appropriate standardisation and frameworks raise fear of greenwashing. In this paper, we propose a platform for green bond issuance on the Algorand blockchain. It offers "Green Bonds as a Service", increasing accessibility through automation. The solution has minimal associated costs and supports fractional asset ownership, both of which will help adoption especially in developing countries. A financial regulator must preapprove an investor an…
The proliferation of sensor technologies in Industrial Control Systems (ICS) helped to transform the environment towards better automation, process control and monitoring. However, sensor technologies expose the smart cities of the future to complex security challenges. Luckily, the sensing capabilities also create opportunities to capture various data types, which apart from operational use can add substantial value to developing mechanisms to protect ICS and critical infrastructure. We discuss Blockchain (BC), a disruptive technology with applications ranging from cryptocurrency to smart con…
We present a blockchain based system that allows data owners, cloud vendors, and AI developers to collaboratively train machine learning models in a trustless AI marketplace. Data is a highly valued digital asset and central to deriving business insights. Our system enables data owners to retain ownership and privacy of their data, while still allowing AI developers to leverage the data for training. Similarly, AI developers can utilize compute resources from cloud vendors without loosing ownership or privacy of their trained models. Our system protocols are set up to incentivize all three ent…
SRM Institute Of Science And Technology（SRM科学技术研究所）
A knowledge market can be described as a type of market where there is a consistent supply of data to satisfy the demand for information and is responsible for the mapping of potential problem solvers with the entities which need these solutions. It is possible to define them as value-exchange systems in which the dynamic features of the creation and exchange of intellectual assets serve as the fundamental drivers of the frequency, nature, and outcomes of interactions among various stakeholders. Furthermore, the provision of financial backing for research is an essential component in the proce…
Credential Control Balance: A Universal Blockchain Account Model Abstract From Bank to Bitcoin, Ethereum External Owned Account and Account Abstraction
The desire to overcome reliability issues of distributed energy resources (DERs) lead researchers to development of a novel concept named as virtual power plant (VPP). VPPs are supposed to carry out intelligent, secure, and smart energy trading among prosumers, buyers, and generating stations along with providing efficient energy management. Therefore, integrating blockchain in a decentralized VPP network emerged as a new paradigm, and recent experiments over this integration have shown fruitful results. However, this decentralization also suffers with energy management, trust, reliability, an…
The need for data trading promotes the emergence of data market. However, in conventional data markets, both data buyers and data sellers have to use a centralized trading platform which might be dishonest. A dishonest centralized trading platform may steal and resell the data seller's data, or may refuse to send data after receiving payment from the data buyer. It seriously affects the fair data transaction and harm the interests of both parties to the transaction. To address this issue, we propose a novel blockchain-based data trading framework with Trusted Execution Environment (TEE) to pro…
The ubiquity of connecting technologies in smart vehicles and the incremental automation of its functionalities promise significant benefits, including a significant decline in congestion and road fatalities. However, increasing automation and connectedness broadens the attack surface and heightens the likelihood of a malicious entity successfully executing an attack. In this paper, we propose a Blockchain based Framework for sEcuring smaRt vehicLes (B-FERL). B-FERL uses permissioned blockchain technology to tailor information access to restricted entities in the connected vehicle ecosystem. I…
Public blockchains implement a fee mechanism to allocate scarce computational resources across competing transactions. Most existing fee market designs utilize a joint, fungible unit of account (e.g., gas in Ethereum) to price otherwise non-fungible resources such as bandwidth, computation, and storage, by hardcoding their relative prices. Fixing the relative price of each resource in this way inhibits granular price discovery, limiting scalability and opening up the possibility of denial-of-service attacks. As a result, many prominent networks such as Ethereum and Solana have proposed multi-d…
We propose a novel reputation system to stimulate well-behaviour, and competition in online markets. Our reputation system is suited for markets where a publicly-verifiable "proof-of-misbehaviour" can be generated when one party misbehaves. Such markets include those that provide blockchain services, such as monitoring services by watchtowers. Watchtowers are entities that watch the blockchain on behalf of their offline clients to protect the clients' interests in applications such as payment networks (e.g., the Lightning network). In practice, there is no trust between clients and watchtowers…
This paper highlights the necessity to use modern blockchain technology in traditional banking sector to reduce frauds and enable high-security transactions on a permanent blockchain ledger. Reviewing different channels through which the traditional banking servers could integrate blockchain use, it is signified how a huge anti-fraud stand can be taken against bank servers allowing fraudulent transactions daily. Usage of a blockchain-based ledger is highly impactful in terms of security of a banking organization. Blockchain-based currency tokens, also referred to as Cryptocurrencies are not re…
Blockchain technology has taken on a leading role in today's industrial applications by providing salient features and showing significant performance since its beginning. Blockchain began its journey from the concept of cryptocurrency and is now part of a range of core applications to achieve resilience and automation between various tasks. With the integration of Blockchain technology into different industrial applications, many application designs, security and privacy challenges present themselves, posing serious threats to users and their data. Although several approaches have been propos…
Many classical blockchains are known to have an embarrassingly low transaction throughput, down to Bitcoin's notorious seven transactions per second limit.Various proposals and implementations for increasing throughput emerged in the first decade of blockchain research. But how much concurrency is possible? In their early days, blockchains were mostly used for simple transfers from user to user. More recently, however, decentralized finance (DeFi) and NFT marketplaces have completely changed what is happening on blockchains. Both are built using smart contracts and have gained significant popu…
We provide a UTXO model of blockchain transactions that is able to represent both credit and debt on the same blockchain. Ordinarily, the UTXO model is solely used to represent credit and the representation of credit and debit together is achieved using the account model because of its support for balances. However, the UTXO model provides superior privacy, safety, and scalability when compared to the account model. In this work, we introduce a UTXO model that has the flexibility of balances with the usual benefits of the UTXO model. This model extends the conventional UTXO model, which repres…
Secure Energy Transactions Using Blockchain Leveraging AI for Fraud Detection and Energy Market Stability
Southern New Hampshire University（南新罕布什尔大学）；Mercy University（默西大学）；International American University（国际美国大学）；Washington University of Science and Technology（华盛顿科学技术大学）；Gannon University（甘农大学）；Farmingdale State College（法明代尔州立学院）
Decentralized marketplace applications demand fast, cheap and easy-to-use cryptocurrency payment mechanisms to facilitate high transaction volumes. The standard solution for off-chain payments, state channels, are optimized for frequent transactions between two entities and impose prohibitive liquidity and capital requirements on payment senders for marketplace transactions. We propose PayPlace, a scalable off-chain protocol for payments between consumers and sellers. Using PayPlace, consumers establish a virtual unidirectional payment channel with an intermediary operator to pay for their tra…
Hong Kong University of Science and Technology（香港科技大学）；University of Electronic Science and Technology of China（电子科技大学）；University of Southern California（南加州大学）
We propose OmniLytics, a blockchain-based secure data trading marketplace for machine learning applications. Utilizing OmniLytics, many distributed data owners can contribute their private data to collectively train an ML model requested by some model owners, and receive compensation for data contribution. OmniLytics enables such model training while simultaneously providing 1) model security against curious data owners; 2) data security against the curious model and data owners; 3) resilience to malicious data owners who provide faulty results to poison model training; and 4) resilience to ma…
One fundamental limitation of blockchain-based smart contracts is that they execute in a closed environment. Thus, they only have access to data and functionality that is already on the blockchain, or is fed into the blockchain. Any interactions with the real world need to be mediated by a bridge service, which is called an oracle. As decentralized applications mature, oracles are playing an increasingly prominent role. With their evolution comes more attacks, necessitating greater attention to their trust model. In this systemization of knowledge paper (SoK), we dissect the design alternative…
We consider front-running to be a course of action where an entity benefits from prior access to privileged market information about upcoming transactions and trades. Front-running has been an issue in financial instrument markets since the 1970s. With the advent of the blockchain technology, front-running has resurfaced in new forms we explore here, instigated by blockchains decentralized and transparent nature. In this paper, we draw from a scattered body of knowledge and instances of front-running across the top 25 most active decentral applications (DApps) deployed on Ethereum blockchain. …
University of California Irvine（加州大学欧文分校）；Texas A&M University（得克萨斯农工大学）；Theta Labs Inc.（西塔实验室公司）；Camford Capital（坎福德资本）；University of Southern California（南加州大学）；FedML Inc.（FedML公司）
We consider a project (model) owner that would like to train a model by utilizing the local private data and compute power of interested data owners, i.e., trainers. Our goal is to design a data marketplace for such decentralized collaborative/federated learning applications that simultaneously provides i) proof-of-contribution based reward allocation so that the trainers are compensated based on their contributions to the trained model; ii) privacy-preserving decentralized model training by avoiding any data movement from data owners; iii) robustness against malicious parties (e.g., trainers …
From Network Intrusion Detection to Blockchain-Backed Endpoint Detection and Response: Mapping the Landscape of Decentralized Detection-and-Response Architectures
École de technologie supérieure (ÉTS)（高等技术学院（ÉTS））；University of Calgary（卡尔加里大学）
Blockchain technology has been envisaged to commence an era of decentralised applications and services (DApps) without the need for a trusted intermediary. Such DApps open a marketplace in which services are delivered to end-users by contributors which are then incentivised by cryptocurrencies in an automated, peer-to-peer, and trustless fashion. However, blockchain, consolidated by smart contracts, only ensures on-chain data security, autonomy and integrity of the business logic execution defined in smart contracts. It cannot guarantee the quality of service of DApps, which entirely depends o…
Transaction fee markets are essential components of blockchain economies, as they resolve the inherent scarcity in the number of transactions that can be added to each block. In early blockchain protocols, this scarcity was resolved through a first-price auction in which users were forced to guess appropriate bids from recent blockchain data. Ethereum's EIP-1559 fee market reform streamlines this process through the use of a base fee that is increased (or decreased) whenever a block exceeds (or fails to meet) a specified target block size. Previous work has found that the EIP-1559 mechanism ma…
We develop a model of coordination and allocation of decentralized multi-sided markets, in which our theoretical analysis is promisingly optimizing the decentralized transaction packaging process at high-throughput blockchains or Web 3.0 platforms. In contrast to the stylized centralized platform, the decentralized platform is powered by blockchain technology, which allows for secure and transparent Peer-to-Peer transactions among users. Traditional single-chain-based blockchains suffer from the well-known blockchain trilemma. Beyond the single-chain-based scheme, decentralized high-throughput…
