Permissioned and Permissionless Blockchain A game Changer

Lakshmi Narain College of Technology, Bhopal 10 August 2021
Permissioned and Permissionless
Blockchain : A game Changer for
Business, Economy and Society
By
Nirbhay Chaubey, Ph.D
Associate Professor of Computer Science
Ganpat University, Gujarat, India
AICTE-RGPV Teacher's Training Program
Blockchain Technology and its Applications
[9-14 August 2021]

Disclaimer
 This presentation slide is made of by collection and
referring some 18+ research papers/books and few
website related to the blockchain technology and
consensus algorithm.
 All contents taken herein are referenced and cited.

Objective
Main focus are as follows:
1. Aware – Blockchain (BC) Technology
2. Understand Blockchain Components
3. Types of Blockchain , Consensus Algorithms and
Application of Blockchain
4. To make aware about Blockchain Implementation –
International and National Status
5. To discuss some Research Directions- BC
6. Tools for blockchain Developmen

Outlines
● Overview of Blockchain Technology
● Bitcoin, Types of Cryptocurrency and Outlook
● Blockchain Components
● Types of Blockchain, Consensus Algorithms
● Blockchain – A Game change for society, business and
economy.
● Blockchain Implementation – International Status &
National Status
● Research Directions- Blockchain Technology
● Conclusion

Overview of Blockchain Technology
 Blockchain (BC) is a relatively new technology; which has attracted
much attention recently.
 Developed rapidly and can be used in many applications of various
domains such as decentralized approaches.
 Many companies, even worldwide governments, are now using BC
technology to improve the security, scalability, and efficiency of their
services.
 Game Changer - change the world, mostly due to its several features
such as decentralization, immutability, and Peer-to-Peer (P2P)
transactions.
 It provides an effective and a coherent solution to some real-world
problems.

 The root of BC technology suggested in 1979 by Ralph Merkle.
 Success of bitcoin cryptocurrency is behind the wider-adoption of BC
technology
 The bitcoin, invented in 2008 by Satoshi Nakamoto was the first BC
conceptualized and the first successful open-source digital cash.
 Since then, several cryptocurrencies have been proposed such as Ether
(Ethereum/ ETH), Ripple, and Libra.
 Bitcoin Price: In 2009 one bitcoin's price $0, February 2011, bitcoin's
price crossed the $1, June 2011 crossed $ 31, April 2013, Bitcoin
reached $200, Nov. 2013 crossed $1,000. mid-December 2017 crossed
$ 19,650, during pandemic 2020, $ 10,000, Bitcoin reached a highest
price of $64,863 on April 14, 2021, August 2021 bitcoin price $
43,679 i.e. 32 Lakh 35 thousand + INR.

Reference: https://coinmarketcap.com/all/views/all/

Overview of Blockchain - Version
Blockchain Evolution
 The BC-based cryptocurrency and related applications are labeled as BC 1.0. The
implementation of distributed ledger technology (DLT) led to its first and obvious
application: cryptocurrencies. This allows financial transactions based on blockchain
technology or DLT (for the sake of simplicity) to be executed with Bitcoin being the
most prominent example in this segment. It can be seen as the enabler of an
“Internet of Money”.
 Applications in the financial area permitted by the partnership of smart contracts
(SCs) with digital currencies are labeled as BC 2.0 . The new key concept are Smart
Contracts, small computer programs that “live” in the blockchain. They are
autonomous computer programs that execute automatically and conditions defined
beforehand such as the facilitation, verification or enforcement of the performance
of a contract. One big advantage this blockchain making it impossible to tamper or
hack Smart Contracts. So Smart Contracts reduce the cost of verification, exceution,
arbitration and fraud prevention and allow transparent contract definition
overcoming the moral hazard problem.

Other BC technology applications referable to the broader spectrum of non-
cryptocurrency-related distributed ledger utilizes are commonly referred to as BC 3.0
applications. Decentralized application (Dapp.) is an abbreviated form for avoiding
centralized infrastructure. It uses decentralized storage and decentralized
communication, so most DApps have their backend code running on a decentralized
peer-to-peer network, a blockchain.
 A DApp can have frontend code and user interfaces written in any language that can
make calls to its backend, like a traditional App. But a Dapp can have its frontend
hosted on decentralized storages such as Ethereums Swarm.
DApp = frontend + contracts (running i.e. on Ethereum)
 Mainly, BC 3.0 has been applied to many fields; for instance, healthcare, economics,
voting, identity management, internet of things (IoT), and energy etc. .

 BC 4.0 , industry 4.0
 Blockchain 4.0 describes solutions and approaches that make blockchain technology
usable to business demands. Especially Industry 4.0 demands example automation,
enterprise resource planning, and integration of different execution systems.
However, this industrial revolution demands an increasing degree of trust and
privacy protection — this is where blockchain kicks in.
 Blockchain 4.0 means, making Blockchain 3.0 usable in real-life business scenarios.
Satisfying Industry 4.0 demands by making blockchain promises come to life.

 Blockchain is a shared, immutable ledger that facilitates the process of recording
transactions and tracking assets in a business network. Virtually anything of value
can be tracked and traded on a Blockchain network, reducing risk and cutting costs
for all involved.
 A Blockchain is a tamper-evident, shared digital ledger that records transactions in a
public or private peer-to-peer network. Distributed to all member nodes in the
network, the ledger permanently records, in a sequential chain of cryptographic
hash-linked blocks, the history of asset exchanges that take place between the peers
in the network and are facilitated by new generation application called smart
contracts that streamline and automate processes and trigger actions between
entities.
 All the confirmed and validated transaction blocks are linked and chained from the
beginning of the chain to the most current block, hence the name Blockchain. The
Blockchain thus acts as a single source of truth, and members in a Blockchain
network can view only those transactions that are relevant to them.

Component of Blockchain Technology
A BC consists of various kinds of components, each with a specific role to play in
making a BC:
 Ledger: a BC ledger is a distributed, immutable record of the history of the BC,
utilized as a decentralized data storage.
 Peer Network: the ledger is stored, updated, and maintained, using a P2P network,
each node contains a copy of the ledger. Nodes contribute to each ledger update by
following a consensus protocol.
 Membership Services: Some kinds of BC require authorization to join. Indeed,
membership services authenticated, authorized, and managed the identity of users on
the BC.
 Smart Contract: Refers to programs that run on the BC, taking into account a set of
predefined conditions. Users can interact with SCs in a similar way that they interact
with programs on a standard computer. Besides, it also provides security and is
stored in the digital ledger.

Component of Blockchain Technology
 Wallet: Stores users’ credentials and maintains the key pairs of the user to create and
sign transactions employing digital signatures.
 Events: Refers to notifications of updates and actions on the BC, examples of
events: addition of a new block to the BC, creation, and dispersion of a new
transaction across the peer network, notifications from SCs on BCs that support such
contracts.
 Systems Management: BC is an evolving system that must change to meet the needs
of its users. Indeed, systems management offers the possibility of creating,
modifying, and monitoring BC components to meet the needs of its users.
 Systems Integration: As BC has developed and increased in functionality, it has
become more common to integrate BCs with other external systems, commonly with
the use of SCs. While this is not a specific element of the BC, systems integration is
included to recognize this capability.

Blockchain Architecture
making a BC:
Figure : Block on a BC.

Figure : Blocks are chained together.

Figure : Different layers of the BC.

Types of Blockchain
 Public Blockchain
 Private Blockchain
 Consortium Blockchain
 Hybrid Blockchain

Types of Blockchain
Public Blockchain
● Any user can participate in a transaction; it is open source.
● No particular organization controls it. As this is open for participation
and contribution, user identity is well hidden, which provides one of
the best anonymities over the network.
● Also uses an incentive mechanism. That is, for mining purposes,
incentives are presented to the miners. examples of public blockchain
that are widely used and accepted are Bitcoin and Ethereum.
● Also called permissionless blockchain.
● In terms of performance, public blockchain works a little bit more
slowly than private blockchain does, because it has a lot of
participating members. The consensus protocols used here also have
some impact.

Types of Blockchain
Private Blockchain
● Also known as permissioned blockchain
● The nodes participating in the mining and verification process are fixed earlier by
the authority, meaning private blockchain imposes specific rules and restrictions in
operation.
● A group of individuals or entities participates in the controlling of the blockchain.
● The consensus is also based on the particular objectives of the entities organizations.
● Various consensus algorithms are used here. Depending on the consensus algorithm
and the types of organization the blockchain belongs to, the authority selects the
participants for transaction and verification.
● The usage benefits of private blockchain are organizational policy restrictions, data
confidentiality, the protection of organizations, the need for less scalability, and
other particular features that limit any corporate or individual organizations from
taking part in a public blockchain network.

Types of Blockchain
Consortium Blockchain
● Comprises functional attributes of both public and private blockchain. However,
public blockchain allows anyone to participate in the transaction and mining
process. This property is absent in consortium blockchain. Consortium blockchain
allows specific entities to participate in network activities.
● For this reason, this type of blockchain resembles more a private blockchain than a
public blockchain, revealing a partially decentralized architecture.
● A consortium blockchain is also known as a federated blockchain. In this type of
blockchain network, a permission access attribute is used, so that there is a
controlled flow of participants, and organizational policies, rules, regulations can
easily be incorporated.

Types of Blockchain
Hybrid Blockchain
● A hybrid blockchain comprises both public and private blockchain.
● The benefits of hybrid blockchain can range from permissioned access, modification
according to the implementing organization, the use of flexible consensus protocols,
etc.
● These benefits and features are adopted according to the requirements of the users.
A hybrid blockchain is not fully permissionless; instead, it imposes specific rules
while participating in the blockchain network. Ensuring the immutability and
consensus procedure through particular nodes by assigned authorities, this type of
blockchain increases the flexible use of the blockchain platform. It facilitates more
room for verification and the detection of confidentiality breaches, and provides
more control over the network.
● Hybrid blockchain platforms include Dragonchain. The aforementioned types of
blockchains are summarized in next table

Types of Blockchain

Consensus Algorithm - Blockchain
● This is an algorithmic process for validating blockchain transactions.
● It is a combined decision-making process, where the nodes or involved parties have
to reach a consensus for a confident decision.
● Blockchain is a distributed network, providing anonymity for the users. Anonymity
is vulnerable in any system and can pose threats, such as trust issues and malicious
intruders. Consensus algorithms are used to address these issues and achieve
reliability, by establishing a trustworthy interaction among the participants in the
network. The purpose of using these algorithms is to resolve several computational
complexities.
● There are various types of consensus algorithms, some are Proof-of-Work, Proof-of-
Stake, Delegated Proof-of-Stake, Leased Proof-Of-Stake, Proof of Elapsed Time,
Practical Byzantine Fault Tolerance, Simplified Byzantine Fault Tolerance,
Delegated Byzantine Fault Tolerance, Directed Acyclic Graphs, Proof-of-Activity,
Proof-of-Importance, Proof-of-Capacity, Proof-of-Burn, Proof-of-Weight and
Ripple etc. , few are briefly discussed next.

Proof of Work (POW)
● This algorithm, a newly mined block has to provide sufficient proof of its effort to
be added to the existing chain. Special nodes in the network, called miners, hold the
responsibility to legitimize each transaction in the block through a process called
mining.
● This is carried out by a computationally expensive calculation to solve mathematical
puzzle problems. The complexity of the issues includes a hash function, integer
factorization etc. On average, it takes about 10 minutes for a user node to try and
calculate the correct solution.
● All the miners in the network compete against each other to be the first to find the
answer. The first miner who succeeds receives an economic reward that has been
predefined by the protocol of the blockchain network.
● To solve this, all the nodes need to put their verified transaction and some other
information, such as previous hash and timestamp.

Proof of Stake (POS)
● Here, mining capability is determined by the number of currencies (stake) the miners
already possess.
● The evidence of a stake follows a deterministic approach of choosing the miners
(sometimes called forgers) for validating the transactions in the blockchain network.
Unlike PoW, upon successful validation of a transaction, the forgers are not
rewarded; instead, they obtain the transaction fees that were invested as a stake at the
start of the forging process. The stake size is what determines the probability for the
next forger to be selected and validate the next block.
● This algorithm is more energy efficient than PoW, which faces computational
challenges while solving mathematical puzzles.
● Another concept behind this algorithm is that the nodes having higher stakes
(currency) are not supposed to be involved in malicious activity with the blockchain
network. So, node validation in this case entirely depends on the wealth of the nodes.

Delegated Proof of Stake (DPoS)
● Here, the nodes in the network elect witnesses on behalf of the stakeholders. Several
witnesses select the valid block through a voting procedure.
● Thus, a block in the blockchain network is validated and authenticated.
● In this consensus algorithm, there are fewer nodes (witnesses) for block validation
and authentication purposes. For this reason, the time needed for block validation is
much less and the energy consumption is also significantly lower.
● As fewer nodes participate in the process of block authentication, a tendency toward
centralization might arise Moreover, if any malicious node or a group of malicious
nodes possesses the most stakes, it can threaten the network, because it can validate
illicit transactions.

Proof of Burn (PoB)
● In this consensus algorithm, two different functions are used.
● Those function aim to burn or destroy the currencies in the validator’s address. One
task (function) generates a public address for cryptocurrency generation and initiates
a burning procedure, in the event of a money transfer to that address.
● Another service (function) checks the account address’s verifiability, from which the
currencies cannot be spent for any transaction purpose.
● The block validators can validate the blocks by sending currency to the generated
address. As the currency cannot be spent, that is why it is called burning the
currency.
● The nodes receive incentives. Here, the value of the coin increases because of the
burning procedure, since the total amount remains the same, concerning fewer coins.

Practical Byzantine Fault Tolerance (PBFT)
● The methodology of this replication algorithm is to make the blockchain network
byzantine fault-proof. This is derived from the byzantine general problem, where an
army must reach a consensus on whether to attack or not attack. In this scenario,
several generals each have a group of troops and must reach a consensus about
attacking or retreating. It is possible, however, that a general will not follow the
agreement.
● That is why the fault tolerance algorithm was developed, in the case of a distributed
network. This algorithm is used in a hyperledger fabric framework. The framework
has fault tolerance, even if 1/3 of total nodes are malicious.
● According to this algorithm, a node will be selected based on the network protocol.
This node will be responsible for the transaction initiation. Out of the three phases of
this method, the selected node needs to receive a majority of the votes.
● This way, the selected node is known to almost all over the network.

RIPPLE
● In this type of consensus algorithm, two types of nodes are used in the system.
● One is a server type and another is a client.
● A server node takes part in the consensus for block validation and authentication.
Each of them contains a list. This list comprises the number of unique nodes in the
network. It is called the unique node list (UNL).
● A client-type node is responsible for transferring cryptocurrencies. Whenever a
transaction is initiated, the server nodes ask for its validation among the UNL. If it
receives an acceptance of 80 percent or more, the transaction is validated and stored
in the blockchain.

Elephant’s
Memory
Track & Trace like Sniffer dog Strength of a Bear
Long life like a Tortoise Endure like an horse
Intelligent
Octopus
Fast like
Falcon
Message like
Pigeon
Programme
d like Robot
Blockchain – A combination of many qualities

 Finance : Global Payments (Global Currency) , Cryptocurrency , Insurance
Claims and Processing
 Blockchain Government :
 Internet of Things (IoT) : Energy Cyber Physical System, Vehicular Cyber
Physical System, Blockchain in Aviation Systems, Supply Chain
Systems/Sensors , Smart Homes , Internet of Battle-Field Things (IoBT) ,
 Cybersecurity:
 Smart Property and Public Value : Hard Money Lending , Cars and Phones,
Smart Appliances , Asset Management
 Cloud Storage and Provenance
 Intellectual Property
Application/Uses Cases Of Blockchain

 Food Safety
 Blockchain Notary
 Blockchain Health-Care
 Fundraising and Transparency
 Wireless Networks and Virtualization
 Real State
 Smart Contracts
 Identity Management : Academic Records , Blockchain Music , Birth,
Marriage, and Death Certiﬁcates , Passports , Personal Identity and Privacy ,
Voting ,
 Reputation System etc.

Finance : (i) Global Payments (Global Currency) (ii) Insurance Claims and Processing
and (iii) Cryptocurrency.
● Conventionally, an intermediary such as a bank, verifies and processes the financial
transactions.
● Having such a centralized system puts immense work in the hand of intermediaries,
meanwhile the transactions are prone to errors as multiple uncoordinated parties are
required to keep the record and adjust them. Thus, the entire process is time-
consuming and costly.
● The Blockchain simplifies such complications associated with financial services by
introducing a distributed public ledger, where the transactions are verified by the
miners using “proof-of-work”.
● As each node in the Blockchain network has a copy of the updated Blockchain,
there is transparency regarding the transactions, As the blocks are chronologically
arranged, once a block is added to the Blockchain with a verified transaction, the
entire Blockchain is immutable. Thus, attackers cannot manipulate the transactions
once it is registered into the system.

(i) Finance : Global Payments (Global Currency)
● Global payments become complicated and time consuming because there are many
intermediaries involved to verify the transactions. The entire process can be prone to
error and costly.
● These issues arise essentially due to the centralization of the monetary transactions
where institutions such as banks and other financial firms dictate processes, and they
are responsible to verify the transactions.
● The Blockchain technology reduces such complexities by introducing the
decentralized public ledger and robust verification method to verify the transactions.
Within this peer-to-peer network, global payments are quicker, verifiable,
immutable, and safer.
● There are several remittance companies such as Abra (https://www.abra.com/) and
Bits park that are already using Blockchain technology for remittance services.

(ii) Finance : Insurance Claims and Processing
● Insurance claim has been dealing with several fraudulent claims. Moreover, there
must be updated policies and data associated with each claim to properly process an
insurance claim which is difficult to handle in traditional approaches.
● With BC, the process can be handled through distributed ledger technology
efficiently in a secure manner.
● Similarly, any fraudulent claims/transactions can be detected and dropped with a
good confidence as multiple participants/miners need to agree on the validity of each
transaction. This makes sure the insurers settle their claim which they deserve
quickly and effectively.
● Blockchain also has potential applicability in warranty and insurance claims. Using
smart contracts, both vendor and user can benefit when warranty claim issues arise.
A warranty will be activated under certain conditions and void otherwise. This
condition can be implemented in a smart contract and stored in blockchain, for
transparency and trustworthiness. No need for human intervention here.

(iii) Finance : Cryptocurrency
● Cryptocurrency, holds a market cap in the billions of dollars, with the help of
Blockchain.
● Speciﬁcally, the bitcoin, proposed by a programmer known as Satoshi Nakamoto, is
based on cryptographic techniques that allows the recipient to receive money
securely/genuinely without requiring a trusted third party, such as a bank or
accompany like PayPal, Razorpay, Paytm, CCAvenue, Billdesk, Atom, PayU etc. .
● The Bitcoin network relies on a Blockchain - a distributed transaction public ledger
where a new block is generated by executing a consensus algorithm such as Proof-
of-Work. It has been noted in that it is practically impossible to get the someone’s
private key from his/her public key which prevents users from impersonating
attacks.
● To do a transaction, the Bitcoin client software performs a mathematical operation
to combine the recipient’s public key and sender’s (i.e., your own) private key along
with the amount of Bitcoins that you want to pay/send. Then the transaction is sent
out to distributed Bitcoin network so as to verify by Bitcoin software clients/users

Blockchain Government
● Build trustworthy and effective government operations through collaborative and
transparent networks, different government organizations and units can use
Blockchain.
● Blockchain help provide accountability, transparency and trust among stakeholders
such as citizens, leaders, government ofﬁcials, and their different operations.
● As per the report from McKinsey, open data made available to the public in the
Internet can beneﬁt the people in an order of trillions of dollars. Several entities can
use open data to expose illegitimate doings. The public can question the quality of
health-care, and food supplies with given open data which eventually makes the
system more fair and trust.
● Therefore, releasing the data to the public is helpful for the economy, Blockchain
government, where the data is distributed in the public ledger, and is open to the
public all the time.

Internet of Things (IoT) : Energy Cyber Physical System
● Smart energy grid systems are becoming complex cyber-physical systems (CPS)
where complex interactions among power generation, distribution, utility ofﬁces and
users happen in a bidirectional manner.
● BC provide a secure and veriﬁable environment to support interactions in energy
CPS. Klenergy Metron is a BC-based smart meter https://www.klenergy-tech.com/
● Fossil fuels provide 48 percent of the world’s electrical energy, and their increasing
scarcity brings about significant problems. Blockchain has been proposed to solve
some of these problems, in terms of smart energy management.
● Use of BC can potentially impact the business model and daily operation of energy
companies starting from accounting, sales and marketing, smart grid application,
and management to alternative energy distribution, energy trading, and record
keeping for auditory and regulatory compliance.
● The use of blockchain and smart contracts means each consumer could have an
energy profile encompassing their energy consumption patterns.

Internet of Things (IoT) : Vehicular Cyber Physical System
● Vehicular cyber physical system is regarded as the backbone technology for
intelligent transportation systems, unmanned aerial vehicle(UAV) networks, and
autonomous driving for improving road safety and trafﬁc efﬁciency.
● Security and privacy in vehicular cyber physical system are always central issues
since vehicles are ties to the private information of their owner, driver, or renter.
● Blockchain, with its features such as decentralization, immutability, integrity, and
anonymity through a pair of public and private keys, can be leveraged to build a
smart and secure autonomous intelligent transportation system.

Internet of Things (IoT) : Blockchain in Aviation Systems
● Blockchain in the aviation industry can offer robust collaborative partnerships
among service and product providers to offer travel services as well as products in a
distributed secure way.
● Smart contracts could streamline the interactions among businesses and different
units within the business.

Internet of Things (IoT) : Supply Chain Systems/Sensors
● Smart sensors can be helpful for the companies to gather information regarding the
supply chain as they are transported around the globe. Several leading supply chain
companies are reported to use smart sensors to track supplies. Therefore, the number
of such sensors is expected to grow rapidly in near future.
● Having such a massive distribution of sensors, there will be enormous amount of
data to be collected and analyzed.
● Blockchain technology can be used for disruptive transformation for efﬁcient and
secure supply chains and network.
● A transparent product supply chain can be a reality, using blockchain. This can track
products’ minute details throughout the entire shipping process. This would help
prevent waste, inefficiency, the illegal transport of unethical products, and
fraudulence by any means. Even though today’s supply chains can handle large
amounts of data, many processes are still reliant on paper.

Internet of Things (IoT) : Smart Homes
● Blockchain in the context of smart homes with IoT devices can help to have secure
and reliable operations for smart home operations.
● However, implementation of Blockchain in such resource constrained IoT systems is
not straightforward because of high resource demand required for proof-of-work,
limited storage capacity, low latency, and low scalability.

Internet of Things (IoT) : Internet of Battle-Field Things (IoBT)
● Internet-of-Battle-field Things (IoBT) is regarded as the backbone for smart defense
and warfare applications where Battle-field Things such as combat equipment,
unnamed aerial vehicles, ground vehicles, and fighters with sensors can collect
intelligent information to enable informed decision real-time in a secure and
immutable manner.
● Note that the IoBT is so diverse that it consists of different devices (combat
equipment, unnamed aerial vehicles, ground vehicles, and fighters), platforms,
networks, and connectivity.
● This diversity poses several challenges for secure, privacy-aware, and trustworthy
battlefield operations such as communication and computing.
● Blockchain technology can help to have secure and reliable operations for IoBT.

Cybersecurity
● Another application of Blockchain is cybersecurity to combat future attacks, where
threat information can be shared by using Blockchain among
participants/organizations to combat future cyber-attacks.
● Example different organizations or countries are hesitant to share their cyber attack
or threat information to others since competitors could misuse the information to
take advantage unilaterally when information is shared with identifiable information.
However, using blockchain with the help of public and private key pair (like in
Bitcoin) information can be shared without revealing identifiable information except
public key (like in Bitcoin).
● This ensures that the organizations or countries could share threat information
sharing without worrying about the competitors misusing the shared information to
take advantage unilaterally.
● However, Blockchain will not be able to fix everything but its features can be
leveraged to harden the systems against multitude of cyber threats.

Smart Property and Public Value : Hard Money Lending
● Hard money lending serves people to mitigate ﬁnancial burdens in the short term. It
requires the borrower to have property such as real estate as a collateral. Thus, it is
important that the collateral is legit and trustworthy.
● Lenders can lose money if the collateral is not redeemable. Similarly, the borrower
might also lose its property if the lender uses fraudulent policies as part of the
agreement.
● With Blockchain, both the property and the policies can be encoded in the ledger
and distributed among the users.
● This will create a healthy setting where people can trade with complete strangers
due to the transparency and security of the Blockchain.
● Smart contracts can be deployed using Blockchain for this kind of scenarios.

Smart Property and Public Value : Cars and Phones
● Personal devices such as phones are protected using authentication keys.
● Similarly, cars are only accessible to the owners using smart keys.
● This kind of technology is possible with cryptography, and yet, such methods can
fail if the authentication key is stolen or copied or transferred.
● Such issues can be ﬁxed in the Blockchain ledger where users/miners can replace
and replicate lost credentials.

Smart Property and Public Value : Smart Appliances
● Smart appliances are essentially electronic devices aided with cyber system such
that the cyber portion can communicate information regarding environment around
the device and the device itself.
● It is essentially about the idea of a “talking toaster” where a toaster can give its user
information relevant to its usage. A home connected with smart appliances can be
considered a smart home, where the cyber physical system tries to optimize the
functionalities of the smart devices, providing maximum utilities to its users.
● With so many devices involved as part of smart appliances, we can encode them in
the Blockchain as smart property.
● Such practice could easily ensure the ownership of a user over these devices.

Smart Property and Public Value : Asset Management
● Asset management involves multiple parties where each party is required to keep the
transactions. While keeping the same transaction in different places can make the
entire process inefﬁcient and prone to errors.
● To make matters worse, asset management might also involve cross-border
transactions, adding more complexity to verify the transactions.
● Such issues can be dealt with a distributed ledger where each party can have a copy
of the entire transactions and get updated about each transaction using cryptographic
communications.
● This improves the efﬁciency and reduces the cost as there would be no intermediary
to verify the transactions.

Cloud Storage and Provenance
● Metadata that records the history of the creation and all operations including
ﬁle/data accessing activities can be kept in the Blockchain which then be shared
with all stakeholders.
● Data provenance through Blockchain is important for applications like
accountability and forensics. For instance, when different users access and make
changes in the collaborative documents such as ﬁles shared through Google
document, users could make changes and those changes are stored in the blockchain.
● By storing all edits and changes that are made are saved in the blockchain. Again,
using features of blockchain and provenance, integrity and accountability in cloud
storage and processing can be maintained.
● Similarly, in cloud storage, when multiple users accessing and changing the
contents, it will be easy to keep track of the edits/changes in the cloud for integrity
and accountability.

Intellectual Property
● Intellectual Property management system could leverage the Blockchain technology
to enforce provable intellectual property rights where veriﬁable, immutable and
secure operations in Blockchain could help any disputes.
● Blockchain based Smart Contracts in IP
● Blockchain for determining creatorship/Proof-of-Ownership
● Blockchain for enabling IP marketplace
● Blockchain for unifying global Patent/IP system
● Blockchain for maintaining version control of digital assets
● https://www.wipo.int/wipo_magazine_digital/en/2021/article_0002.html
● https://www.wipo.int/wipo_magazine_digital/en/2020/article_0002.html
● https://www.automation.com/en-us/articles/january-2021/the-future-of-blockchain-
in-intellectual-property

Food Safety
● Food safety is one of the most critical issues to be addressed since over 0.6 billion
(equivalently 1 in 10 people) in the world become ill after consuming bad food
every year. About 1167 people die every day.
● To prevent these issues, Blockchain technology can help to prevent counter feiting
issues for food to have visibility across food supply chain and help to access any
information such as food content, its origins, expiration, etc. in seconds. Food
consumers will better control over food and information with high accuracy and
transparency for food safety.
● https://builtin.com/blockchain/food-safety-supply-chain
● https://www.ibm.com/blogs/blockchain/category/blockchain-in-food-safety/
● https://www.ibm.com/in-en/blockchain/solutions/food-trust
● https://www.newfoodmagazine.com/article/110116/blockchain/

Blockchain Notary
● An electronic (digital) notary gives an official the ability to carry out the notarizing
function electronically. Notaries public have had the capabilities of using technology
(e.g., digital signatures and digital notary seals for the validation of certificates) for
some time now. The electronic notary affixes the authorized seal and signature to the
certified document. This notary public activity uses cryptography and a secured
public key to manage, create, store and distribute the digital certificate.
● Blockchain using distributed ledger technology with cryptography replaces trusted
third parties such as a notary (trust third party in the traditional systems).
● Blockchain helps the entire notary process by automatically executing process in a
cost-effective, transparent, and secure manner.
● Blockchain for notary public services: Security of stored documents and deeds.
Private key access to the documents. Secured storage on the blocks with appropriate
timestamps. Seamless transfer of document ownership through the network. Open
transactions on the network for the verification process.

Blockchain Health-Care
● Personal health records are sensitive information and needs to be dealt with high
security. Such personal records can be encoded and stored using Blockchain and
provide a private key which would allow only speciﬁc individuals to access the
records. Similarly, the same protocol can be applied to conduct research where
personal records are used via Health Insurance Portability and Accountability Act
(HIPAA) laws to ensure conﬁdentiality of the data. Patients records in the
Blockchain can be automatically sent to the insurance providers or the doctor can
send the health records to the concerned parties securely.
● Blockchain can also be used in health care technology. Since blockchain can store
application-specific data, it can be used for patient’s personal data and health record
storage. Smart contracts integrated with blockchain can be used for payment
services. This approach would protect the integrity and authenticity of data, provide
transparency within the health sector in terms of payment, etc.
● In sum, it would create a transparent, trustworthy, efficient and reliable health
network.

Blockchain Health-Care Companies
● Akiri https://akiri.com/
● BurstIQ https://www.burstiq.com/
● Factom https://www.factom.com/
● MedicalChain https://medicalchain.com/en/
● ProCredEx https://guardtime.com/ https://builtin.com/company/professional-
credentials-exchange
● Avaneer https://builtin.com/company/avaneer
● SimplyVital Health https://www.simplyvitalhealth.com/
● RoboMed https://www.robomed.io/ https://mycoralhealth.com/
● Embleema https://builtin.com/company/embleema
● Chronicled https://chronicled.com/
https://builtin.com/blockchain/blockchain-healthcare-applications-companies

Fundraising and Transparency
● The charity and nonprofit sector is grappling with a serious trust issue — but
blockchain technology could provide a solution. Just 56 percent of people globally
trust NGOs (Non-Governmental Organizations), according to the 2019 Edelman
Trust Barometer.
● Transparency is one of the issues to be addressed in fund-raising activities to make
the process trustworthy.
● Blockchain as a distributed ledger technology can ensure the transparency, security,
and integrity in fund-raising activities by leveraging Blockchain features such as
immutability, veriﬁability, and security.
● Tencent pledges the use of blockchain technology in its biggest annual philanthropic
campaign to ensure data traceability and enhance transparency in charitable
programs, taking the lead in leveraging technology to promote sustainable
development of public welfare sector.

Wireless Networks and Virtualization
● Wireless network is suffering from explosive growth of IoT and CPS applications
and there have been different approach studied to enhance the network capacity and
coverage.
● Blockchain can be used to sublease wireless resources such as RF slices to network
service providers or third-party like mobile virtual network operators (MVNOs) in a
veriﬁable way so that quality of service of the users would be met by preventing
double spending/subleasing of same wireless resource to multiple parties in a
distributed manner.

Real State
● Blockchain technology as a distributed ledger database system can offer beneﬁt for
the real estate industry.
● Property title recording can be done using blocks with transactions in Blockchain
rather than using traditional/current record keeping system.
● Improve the leasing and purchase and sale process through the use of blockchain:
● Improve property search process, Expedite pre-lease due diligence, Ease leasing and
subsequent property and cash flow management, Enable smarter decision-making,
Transparent and relatively cheaper property title management and Enable more
efficient processing of financing and payments
● https://atlant.io/
● ATLANT has developed a platform that uses blockchain technology to facilitate real
estate and rental property transactions. By tokenizing real property, assets can then
be traded much like stocks on an exchange and transactions can be done online.

Smart Contracts
● Smart contracts digital entity written in a Turing-complete byte language, called
Ethereum Virtual Machine (EVM) bytecode.
● They are essentially a set of functions where each function is a sequence of
instructions. Such contracts are embedded with conditional statements which
enables them to self-execute.
● Smart contracts can be a replacement to intermediaries which make sure that all
parties are obliged by the agreed terms. Thus, with Blockchain, such regulatory
bodies become redundant.
● Smart contracts based on Blockchain ensures that the participants know the contract
details and the agreement are automatically implemented once the conditions are
fulﬁlled.
● In order to make the smart contracts work, there is a group of mutually “untrusted”
peers called miners who verify the transactions related to the contract.

Smart Contracts
● Each transaction broadcast to the Blockchain network is collected by the miners and
veriﬁed before they are encoded to a new block and appended to the Blockchain.
● Any potential conﬂict is resolved through the consensus protocol which is based on
“proof-of-work”. Thus, a smart contract only works if there is no bias or a majority
in the computational power of the network, thus ensuring the decentralization in the
network.
● The miners are rewarded for creating new blocks under the protocol everyone
miners are required to follow.
● Any miner’s work is discredited by other miners if he/she does not follow the
protocol, thus there is an incentive for each miner to follow the rules.

Identity Management : Academic Records / Document Verification
● Blockchain can be used to store academic records for students and universities in a
decentralized ledgers. This academic record keeping system will be tamper-proof,
veriﬁable, immutable, and secure.
● Blockchain could potentially be used in document verification in several sectors. In
the educational sector, certificates could be verified using blockchain. Moreover, in
the corporate sector, blockchain could have potential uses in crucial contract
verification, using smart contracts. Document verification has possible uses in
immigration, such as medical test report verification. The medical test report
requested by an embassy/high commission could be stored in a blockchain and
shared with the authorities. This would help immigration authorities to verify
whether a report has been altered.

Identity Management : Birth, Marriage, and Death Certificates
● The record of birth, marriage and death are important records of a citizen as they are
used to confirm citizenship of citizens, and grant rights as per their status such as
voting rights and work permits.
● While keeping such records in a conventional method can be slow and prone to
error, such issues can be fixed with the public ledger such as Blockchain.
● The Blockchain can make such records more reliable by encrypting the records.

Identity Management : Blockchain Music
● In music industry, it is a huge challenge to own products via ownership rights, and
beneﬁt from royalty distribution. In order to monetize digital music products,
ownership rights are required. The Blockchain and smart contracts technology can
be used to create a comprehensive and accurate decentralized database of music
rights. Meanwhile, the ledger can be used to provide a transparent information
regarding the artist royalties and real time distributions to all the labels involved.
Digital currency can be deployed to make the payments as per the terms of
contracts.

Identity Management : Passports
● Ffirst digital passport was launched in 2014 which could help the owners to identify
themselves online and offline.
● With this Blockchain technology, a user can take a picture and share it via
cryptographic communication, which can be used to share the picture and verify
among the users via digital signatures.
● In the Blockchain based passport system, passports are stored in the distributed
ledger, which is confirmed/verified by the users as well as government.

Identity Management : Personal Identity and Privacy
● PersonalID: There are several personal identifications we carry around such as our
driver’slicense, student identity cards, keys, social security number card, state
identification card, etc.
● Blockchain can be used to store these identifications as digital form of IDs that will
replace all forms of traditional physical identifications.
● Essentially, one Blockchain ID could be used for all kind of identifications used
identify the same subject or object .
 BC has been considered for identity management, which provides users with
lifelong self-sovereign digital identities for every individual. For instance, LifeID is
a BC-based decentralized identity solution in order to manage any online and real-
world transaction which requires identity authentication.
 https://lifeid.io/

Identity Management : Voting
● Blockchain could offer many tangible benefits for verifiable secure voting system in
coming years. Current voting system has flaws and hard to verify votes. Thus,
Blockchain with its features could provide immutable, verifiable and secure voting
system where voter can cast their votes with highest confidence from anywhere in
the world.
● A blockchainbased e-voting system would be fair and hence, introduce a strong
democratic authority to the citizens of a country.
● All votes cast would be recorded in that immutable ledger. Votes could not be
altered without consensus. In a democratic country, people need transparency for
every kind of work in the state, especially elections.
● The 2018 midterm election in Virginia, USA was held using blockchain technology.
● In the voting procedure, the voters were identified using fingerprints, and then they
were given electronic ballot papers. The voting procedure was carried out in a
private blockchain environment, and eight nodes were used for the purpose.

Reputation System
● Reputation system is an important measure on how much a community trusts a
person. Such a system plays an important role to assess a person through their
reputation, which is evaluated on his/her past transactions and interactions with the
community.
● The credit system can be thought of as a reputation system, where users are given
credit scores based on their financial activities and, later, they are used to make
decision regarding other financial transactions.
● There can be falsification of such system if the integrity of the data is compromised.
Thus, it is important to securely keep the record of past transaction and fairly
evaluate the reputation of the users.
● Here, Blockchain can be a really important technology as it keeps a distributed
public ledger which is scrutinized by the consensus of users in the network.

Estonia: 100% Government Data on Blockchain

Dubai
WWW.GENUINITYLABS.COM

Dubai Land Title deed

WFP- Refugee Benefit distribution on Blockchain
Some Blockchains are public, others are private.
Data stored on private chains can be made accessible
using a combination of matched public and private
“keys.” A public key is used to verify and encrypt
data. It is public and can be known by anyone. A
private key decrypts data that has been encrypted
with its paired public key. These keys consist of
extremely long sets of characters, which can be
shortened to a public key fingerprint or associated
with biometric information via a biocryptic process.
Digital currency payments validated with biometric
information like iris scans have been prototyped
using refugee populations over the past few years
(see the featured image). While the technology that
undergirds it is complex, programmers are
developing accessible interfaces that make using
digital currency as easy as opening an app and
verifying a transaction, financial or otherwise, with a
thumbprint or facial-recognition scan

Singapore Govt’s Pioneering initiatives in adopting Blockchain

Thailand Smart Financial Infrastructure leverages Blockchain

Smart City Blockchain – Network Architecture

 Voting EC - IIT Madras for lost vote facilitation
 Medical Records: IIT Madras researchers have developed ‘BlockTrack’, a first-of-its-kind
blockchain-based secure medical data and information exchange system for a mobile phone-based
application.
 University Certificates ISB, Pune University, Gulbarga University and many other Universities
have started piloting Blockchain based certification. JNTU, Telangana is coming out with an RFP.
 Land Records Number of states including MP, Maharashtra, Pondicherry experimenting with
Land Record POCs
 Birth & Municipal Certificates West Bengal Government completed Pilot for issuing Birth
certificates over Blockchain
 Benefit / Subsidy Distribution GSFC & Niti Aayog complete PoC on Fertiliser Subsidy
distribution
 TRAI : TRAI is implementing Blockchain for regulating Unsolicited Commercial
Communication
 NPCI : National Payments Corporation of India(NPCI) experimenting with Interbank Clearing &
Settlement using DLT. NPCI enabling digital payments and settlement systems in India, is an
initiative of RBI
 Agri Supply Chain: Telangana Government is Evaluating Blockchain for Supply chain and E-
Market place.
 Financial Applications: RBI & Ministry of Finance along with several Banks are working on
extensive Blockchain adoption in the Financial services
Some initiatives in India

making a BC:

Single Source of Truth for beneficiary details & Financial information.
Reduction of Costs and time taken for transaction through Disintermediation
& error free actions.
Eliminate problems due to reconciliation and mismatch of accounts
Eliminate Identity Frauds and Benefit Leakages
Prevent Data breaches & Malware attacks.
Key Benefits Sought from Indian Governments and PSUs

VAJRA Platform

ITD & Infosys led Consortium for Tax Compliance

UCC – The Regulation Tech Mahindra
88

Blockchain to check Unauthorised Commercial
Communication on Cellular networks-UCC

Blockchain for Land Records Management -Flow of activities

● Blockchain facilitates Unique Identity (GID) for all
participants for 360 degree view of transactions pertaining to
the account facilitating, creation of a de-duplicated supplier
database across all the e-GP systems.
GID, it will be possible to correlate supplier activities across
e-GP systems worldwide as given below:
● Authentic records about the contracts awarded to a supplier,
● The status of contracts under execution by a supplier, and
● Whether a supplier is black-listed or not can be verified
Blockchain Solutions for Procurement
Blockchain for E-Governance Procurement

Maharashtra Govt Loan Against Warehouse Receipts
Maharashtra Government & WHRRL - Lending program for Farmers
on Blockchain

Blockchain based Agri Track & Trace for Organic Farm Products
NABARD Blockchain based system for tracking certification of Organic Produce of FPOs/ Farmers – by Intelitix

Consortium of Trusted Suppliers: Trust Your Supplier (TYS)

Trade finance Consortium: MarcoPolo on R3 Corda network

Home- Defence Consortium Drones for Disaster Management

Tools for Blockchain Development
1 Solidity 9 Embark
2 Geth 10 MyEtherWallet
3 Remix 11 Meta Mask
4 Mist 12
Blockchain-as-a-Service
(BaaS)
5 Solium 13 Blockchain testnet
6 Parity 14 Ganache
7 DApp Board 15 Solc
8 Truffle Framework 16

Solidity
● Object-oriented programming language
● Used to write smart contracts and Ethereum-based applications.
● Its script is similar to that of the JavaScript programming language
and it enhances the Ethereum Virtual Machine.
● It is the runtime environment in Ethereum and is used for building
and deploying smart contracts on any blockchain.

Geth
● A program which acts as the node of the Ethereum blockchain.
● Geth acts as a console for inputting commands and executing
specific functions. If any default values aren’t set, it will
automatically connect to the Ethereum mainnet.
● Be sure to use an external hard drive for data storage, as Geth will
automatically download the entire Ethereum blockchain.
● Geth is available on platforms such as Windows and Linux.
● It uses the Go programming language and allows the user to do the
following: Transfer tokens between addresses, Creation and
execution of smart contracts through the Ethereum Virtual
Machine and Explore block history.

Remix
● It is a compiler used for small contracts.
● It supports deploying, testing, and debugging of smart contracts.
● Its code analyzer helps developers write the best codes.
● It connects to the blockchain using Metamask, the browser
extension for easy access of Ethereum-enabled distributed
applications (DApps).
● It is open-source and hence can be used by anyone for free.

Mist
● It is an official Ethereum wallet developed by the creators of
Ethereum.
● Especially for deploying smart contracts. It is a full node wallet
used to store Ether tokens. To use it, one has to download the
entire Ethereum blockchain, which is more than 1 Terabyte.
● Following download, the software will be synced up to date with
the Ethereum blockchain. After it is fully synced, you will get two
options as to whether you would like to operate on the test
blockchain or on the main blockchain.

Solium
● Security plays a vital role in the development of each tool.
● The solidity code must be secure and tamper-resistant.
● Helps format solidity codes and also helps fix security issues, if
any, in the code.
● A tool which is designed to check for vulnerabilities in the code.
● It does not strictly adhere to the Solidity Style Guide.

Parity
● Post compilation, a development environment needs to be set to
deploy contracts on the Ethereum blockchain.
● An Ethereum client is needed for this and that is where Parity comes
into the picture.
● It is a secure way to interact with the blockchain. Founded by Gavin
Wood, former Ethereum CEO, it is written in the Rust programming
language.
● It is directly integrated into a web browser. It allows access to basic
wallet functions and Ether.
● It allows access to all the features of the Ethereum network which
make it an Ethereum GUI Browser.

DApp Board
● Post compilation, a
● An analytical Ethereum blockchain explorer.
● A web-based analytics service which serves as an analytical platform
for Ethereum smart contracts.
● Designed to analyze and monitor the activities of smart contracts on
the Ethereum blockchain.
● Information such as the number of DApps users and the number of
Ethers processed by a contract can be obtained.

Truffle
● It is a development suite for building smart contracts. It aims to
simplify blockchain development so as to help developers build
decentralized applications quickly and easily.
● Developers can conduct automated tests using tools such as Mocha
and Chai.
● It is a framework which helps carry out migrations and scriptable
deployments. Some of its features are: (i) Network Management for
both public and private networks (ii) Interactive console for direct
contract communication and (iii) Built-in smart contract compilation,
deployment, and linking.

Embark
● A developer framework which helps create and deploy DApps and
also enables one to create new smart contracts which are then made
available in the JS Code.
● If a contract is updated, Embark automatically modifies the contract
and related DApps.
● Traditional web development languages such as Angular, Meteor,
React, etc. are used to interact with the Embark platform.
● It supports test-driven development of contracts with Javascript
thereby allowing developers to manage their contracts on different
blockchains.

Meta Mask
● This development tool provides software to their users who don’t only
allow them to serve Ether and other ERC-20 assets but also allows
them to interact with Ethereum Dapps, letting users do so just by
using their own browser.
● It is a wallet designed that acts as an intermediate between Ethereum
Blockchain and a browser.

Blockchain-as-a-Service (BaaS)
● BaaS is similar to the Saas model, which lets you leverage cloud-
based solutions.
● One can use this development tool to build and host its own
blockchain apps and smart contracts on the blockchain.
● It acts as a cloud-based service provider that handles the rest of the
task, keeping infrastructure operational in the right way.
● What users have to do is just pay for BaaS service providers to set up
blockchain infrastructure.

Blockchain Testnet
● This development tool allows users to test their DApps before making
them live, letting users find out errors if any.
● Testnets can be of either type, namely- Private , Public etc.
Ganache
● Ganache allows one to perform instant mining of the transactions with
zero transaction fees, allowing developers to create their own private
Ethereum blockchain to test decentralized apps(called dApps).
● The main benefit of using this platform is that it allows users to
manage the mining speed and gas costs to test different scenarios for
smart contracts.

Solc
● It is a solidity compiler written in C++ programming language, with a
major concern to convert Solidity scripts into a more readable format
for the EVM.
● One can use this Solc in either of the ways- Through a high-level API,
giving a uniform interface to all compiler versions and, a low-level
API, providing access to all the compilers, depending on its version.

Some Challenges Of Blockchain
Typical challenges to be addressed include the following.
 Throughput and bandwidth in the blockchain network: Is existing
network bandwidth enough for blockchain transactions and updates to
do real-time updates in the systems? We need to more research to
address this challenge.
 Latency/delay in blockchain network: How often the ledger should be
updated in the blockchain and what is the least tolerable updating
delay that is acceptable? Furthermore, adversary can disallow a
miner’s block from reaching all other miners for a long time. How can
we address these types of attacks more effectively?
 Energy consumptionin blockchain: What could be the
minimum/optimal energy consumption for such computationally
complex operations in blockchain?

Challenges in implementing Blockchain Solutions
Some Challenges Of Blockchain

Blockchain Vulnerabilites:
Majority Attack (51% Attacks)
The PoW consensus protocol is proposed mainly for the Bitcoin by S. Nakamoto. In
PoW-based BC,“miners,” which are potent nodes in terms of CPU processing and
memory. Miners’ role is to verify and validate transaction blocks. The immutability
in a public BC (bitcoin specifically) can be undermined, using the PoW protocol. In
this protocol type, 51% of the network’s nodes must be honest to validate a
transaction.
Bitcoin immutability can be undermined by an attacker according to the following
steps:
● Firstly, the attacker would install more mining capacity, computational power,
compared to the rest of the entire network, creating a so-called 51% attack.
● Secondly, they would not participate in the mining process of the network rest, but
they would mine their secret branch, involving transactions they approve and censor
the rest.
● Finally, when the attackers have more mining power than the rest of network, they
will anonymously broadcast their secret branch to the network.

Suggestion - Research Directions
1. Comprehensive literature survey of existing strategies,
assumptions, environment and scenario and find out research
gaps.
2. Performance evaluation of basic existing technique
3. Problem formulation, formulation of objective
4. Formulate the performance parameters for objective
5. Propose a mathematical model, Develop your own algorithm and
compare it analytically with basic existing technique
6. Select tools for implementation with justification.

7. Performance comparisons of your proposed protocol model with
the existing one and interpretation of result.
8. Describing the results in sufficient details to establish their
validity;
9. Identifying the novel aspects of the results, i.e., what new
knowledge is reported and what makes it non-obvious;
10. Identifying the significance of the results: what improvements
and impact do they suggest.

11. The structure includes: 1. Title 2. Abstract – includes a
description of subjects covered. 3. Introduction includes a
description of context (paragraph 1-3), motivation for review
(paragraph 4, sentence 1) and defines the focus (paragraph 4,
sentences 2-3) 4. Body – structured by headings and subheadings
5. Conclusion – states the implications of the findings and an
identifies possible new research fields 6. References (“Literature
Review”) – organised by number in the order they were cited in
the text.
12. Number of minimum references for review paper is 50
references (and minimum 40 recently journal articles).

13. Authors are suggested to present their articles
with IMRaD sections structure (outline): 1. Introduction - 2. The
Proposed Method/Algorithm/Procedure specifically designed
(optional). Authors may present complex proofs of theorems or
non-obvious proofs of correctness of algorithms after
introduction section (obvious theorems & straightforward proofs
of existing theorems are NOT needed) - 3. Research Method - 4.
Results and Discussion – 5. Conclusion, and future work.

Conclusion
 BC is a decentralized distributed database technology secure via cryptography algorithms.
 BC works upon a P2P network, every single node on the BC network has an identical copy
of the BC.
 All transactions and timestamp are recorded rapidly, then shared without the need of any
third-party trusted authority
 Cryptographic algorithms (e.g RSA and Elliptic Curve Digital Signature
Algorithm (ECDSA) and the consensus protocol (for instance, proof-of-work (PoW) and
proof-of-stake (PoS) ) behind the security and performance of BC.
 Nevertheless, certain security vulnerabilities and attacks have been discovered.
 In March 2014, cybercriminals used transaction mutability inside bitcoin to attack MtGox
(the biggest Bitcoin trading platform), they stole 450 million dollars bitcoin, which caused
the collapse of MtGox.
 Another example, attacks in June 2016, targeting the SC DAO by exploiting the recursive
calling vulnerability, which led to the theft of 60 million dollars.
 Recently, various studies and researches have focused on BC security.

Final Remarks
● Can you think of any applications where a
blockchain technology would not be the best
solution?
● Do you foresee BC becoming ubiquitous
within the next ten years? During your
lifetime?

References
1. S. Nakamoto, “Bitcoin: A Peer-to-Peer Electronic Cash System,” 2008.
2. Eckhoff, D., and Wagner, I., 2017. Privacy in the smart city: Applications, technologies,
challenges, and solutions. IEEE Communications Surveys & Tutorials, 20(1), pp. 489– 516.
doi:10.1109/COMST.2017.2748998.
3. Hassija, V., Chamola, V., Saxena, V., Jain, D., Goyal, P., and Sikdar, B., 2019. A survey on
IoT security: Application areas, security threats, and solution architectures. IEEE Access, 7,
pp. 82721–82743. doi:10.1109/ACCESS.2019.2924045.
4. Bahri, L., and Girdzijauskas, S., 2019, June. Blockchain technology: Practical P2P
computing (Tutorial). In 2019 IEEE 4th International Workshops on Foundations and
Applications of Self-Protecting Systems (FAS*W) (pp. 249–250). Umea, Sweden: IEEE.
doi:10.1109/FAS-W.2019.00066.
5. Mohanta, B. K., Jena, D., Panda, S. S., and Sobhanayak, S., 2019. Blockchain technology: A
survey on applications and security privacy challenges. Internet of Things, 8, p. 100107.
doi:10.1016/j.iot.2019.100107.
6. Hamdan, O., Shanableh, H., Zaki, I., Al-Ali, A. R., and Shanableh, T., 2019, January. IoT-
based interactive dual mode smart home automation. In 2019 IEEE International Conference
on Consumer Electronics (ICCE) (pp. 1–2). Las Vegas, NV: IEEE.
doi:10.1109/ICCE.2019.8661935.

References
7. Glaroudis, D., Iossifides, A., and Chatzimisios, P., 2020. Survey, comparison and research
challenges of IoT application protocols for smart farming. Computer Networks, 168.
doi:10.1016/j.comnet.2019.107037.
8. Madaan, L., Kumar, A., and Bhushan, B., 2020. Working principle, application areas and
challenges for blockchain technology. In IEEE 9th International Conference on
Communication systems and Network Technologies (CSNT) (pp. 254–259). Gwalior, India:
IEEE. doi:10.1109/CSNT48778.2020.9115794.
9. Gupta, S., Sinha, S., and Bhushan, B., 2020. Emergence of blockchain technology:
Fundamentals, working and its various implementations. In Proceedings of the International
Conference on Innovative Computing & Communications (ICICC). Delhi, India: Springer.
doi:10.2139/ssrn.3569577.
10. Haque, A. B., and Rahman, M., 2020. Blockchain technology: Methodology, application and
security issuesIJCSNS, 20(2), pp. 21–30.
11. Tomov, Y. K., 2019, September. Bitcoin: Evolution of blockchain technology. In 2019 IEEE
XXVIII International Scientific Conference Electronics (ET) (pp. 1–4). Sozopol, Bulgaria:
IEEE. doi:10.1109/ET.2019.8878322.

References
12. B. Singhal, G. Dhameja, P. S. Panda, “Beginning Blockchain: A Beginner’s Guide to
Building Blockchain Solutions,” Apress, 2018.
13. Tomov, Y. K., 2019, September. Bitcoin: Evolution of blockchain technology. In 2019 IEEE
XXVIII International Scientific Conference Electronics (ET) (pp. 1–4). Sozopol, Bulgaria:
IEEE. doi:10.1109/ET.2019.8878322.
14. M. A. Ferrag, L. Maglaras, and H. Janicke, “Blockchain and its role in the internet of
things,” in Strategic Innovative Marketing and Tourism, pp. 1029– 1038, Springer, 2019.
15. D. Drescher, Blockchain basics, vol. 276. Springer, 2017
16. B. Carson, G. Romanelli, P. Walsh, and A. Zhumaev, “Blockchain beyond the hype: What is
the strategic business value,” McKinsey & Company, pp. 1–13, 2018.
17. B. Carson, G. Romanelli, P. Walsh, and A. Zhumaev, “Blockchain beyond the hype: What is
the strategic business value,” McKinsey & Company, pp. 1–13, 2018.
18. Y. Soni, L. Maglaras, and M. A. Ferrag, “Blockchain based voting systems,” in ECCWS
2020 19th European Conference on Cyber Warfare and Security. Academic Conferences and
publishing limited, 2020.

Thank You!

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