IET Blockchain is a Gold Open Access journal that publishes high quality research papers focusing on the latest advances in blockchain and its applications. The journal reports fundamental research results, cutting-edge technologies, latest developments and emerging applications of the blockchain technology.
Latest content
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Optimized byzantine fault tolerant algorithm for improving performance and security with trust values
- Author(s): Linqing Xiao ; Juntao Gao ; Baocang Wang ; Xuelian Li
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p.
1
–17
(17)
AbstractBlockchain is considered to be a promising technology due to its decentralization, open, and non tamperation. Nevertheless, the current blockchain system cannot replace traditional financial institutions because its performance and security indicators in the consensus algorithm are not perfect. As one of the emerging capacity expansion technologies, sharding technology improves throughput by grouping users and processing transactions in parallel. This paper proposes an improved Byzantine Fault Tolerance algorithm TV‐BRAFT. TV‐BRAFT calculates a trust value for each user through an incentive mechanism. The sharding scheme based on the trust value is adopted to reduce the probability of malicious nodes being allocated to the same partition, thus improving the security of the system. In the consensus, the system selects users with qualified trust values to form a verification group to supervise the consensus process and avoid submitting error transactions to the blockchain. In order to prove that the TV‐BRAFT can resist Byzantine attacks, a recursive formula is used to prove the security of sharding and the security of consensus within one shard. Finally, the simulation results show that the TV‐BRAFT not only guarantees the fairness of incentives but is also better than the Raft and PBFT algorithms in efficiency and throughput.
This paper proposes an improved Byzantine Fault Tolerance algorithm TV‐BRAFT based on the Raft algorithm. By introducing the concept of sharding technology and trust values, the algorithm can achieve better performance and resist more Byzantine attacks. The above results are verified through the recursive method and simulation.image
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A research on cross‐chain and interoperation methods of fusion protocol
- Author(s): Li Ming ; Song Wenpeng ; Li Ankai ; Zhou Ziming ; Liu Mianchen
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p.
18
–29
(12)
AbstractAt present, cross‐chain technology and cross‐chain system pay more attention to cross‐chain security and performance, and have shown great improvement in security, scalability and efficiency. However, the generality of cross‐chain technology in different scenarios is poor, and it may not fit in different business fields. In order to solve the generality problem of cross‐chain technology, this paper sorts out and analyzes the research of blockchain cross‐chain protocol, and proposes a fusion protocol cross‐chain method based on relay‐chain technology. This paper will introduce the cross‐chain framework and cross‐chain transaction process of fusion protocol. Cross‐chain framework includes blockchain cross‐chain interaction architecture, cross‐chain interaction governance mechanism and cross‐chain privacy protection scheme. The transaction process is divided into three different stages. Finally, combined with cross‐chain key technologies and landing application requirements, the future research direction of blockchain cross‐chain technology is given. The fusion protocol cross‐chain method based on relay‐chain technology proposed here is a groundbreaking innovation in the field of blockchain cross‐chain technology. By integrating the advantages of different blockchain systems and protocols, the fusion protocol is able to achieve a high degree of generality and compatibility, making it suitable for various business scenarios and applications.
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Multisecret‐sharing scheme with two‐level security and its applications in blockchain
- Author(s): Rajendra Kumar Sharma ; Ritumoni Sarma ; Neha Arora ; Vidya Sagar
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p.
30
–42
(13)
AbstractA ‐threshold secret sharing and multisecret‐sharing scheme based on Shamir's secret sharing scheme are introduced with two‐level security using a one‐way function. Besides, its application in a smart contract‐enabled consortium blockchain network is discussed. The proposed scheme is thoroughly examined in terms of security and efficiency. Privacy, security, integrity, and scalability are also analyzed while applying it to the blockchain network.
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The offline cash puzzle solved by a local blockchain
- Author(s): Henrique de Carvalho Videira
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p.
43
–58
(16)
AbstractA major drawback in deploying central bank digital currencies (CBDC) is the offline puzzle, which requires that a CBDC must keep the liquidity provision given by cash, and, simultaneously, avoid double‐spending, cloning, and other issues. The puzzle is solved by minting the coins in serial numbers, which are stored on a local blockchain inside a smartphone or EMV card. The local blockchain is strengthened by a two‐stage approval architecture that mitigates attacks and enables non‐repudiation handling. The coins are protected by hardware keys embedded in the microchip and can be continuously mined by the wallet to enhance security. The coins can be either minted as hot coins, which can be retrieved in case of loss, or minted as cold coins, like physical cash.
The offline cash puzzle is the challenge of designing digital money that should behave like physical cash and, simultaneously, avoid double‐spending and cloning. The puzzle is solved by minting a serialized coin in a local blockchain, which is designed in a two‐stage approval protocol. The offline cash can be either minted as a hot coin, which expires and can be retrieved in case of loss, or minted as a cold coin, which is like physical cash.image
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Decentralized trustworthiness score management with smart contracts on the trustlend platform
- Author(s): Wisnu Uriawan ; Youakim Badr ; Omar Hasan ; Lionel Brunie
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p.
59
–72
(14)
AbstractThe personal lending marketplace, known as Peer‐to‐Peer (P2P) lending, has increased globally. However, providing unsecured loans to peers without requiring collateral remains a challenge. A platform called TrustLend is proposed to enable trustworthy transactions in the personal lending application. The platform attempts to eliminate or minimize the collateral requirement. The trustworthiness score adds to this platform's variable selection rules and can help lenders decide on reliable candidates as borrowers. The prototype implementing the TrustLend platform based on Ethereum smart contracts that use the trustworthiness score is also described and it is illustrated with a Decentralized Application (DApp) case study and customized smart contracts. The prototype demonstrates fundamental features and supports borrowers, lenders, and recommenders in establishing proposals and approvals. Finally, the prototype shows how end‐users can easily access loans with reduced collateral without hidden costs and swift transactions.
The prototype demonstrates fundamental features and supports borrowers, lenders, and recommenders in establishing proposals and approvals. The prototype shows how end‐users can easily access loans with reduced collateral without hidden costs and swift transactions.image
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SmartOil: Blockchain and smart contract‐based oil supply chain management
- Author(s): AKM Bahalul Haque ; Md. Rifat Hasan ; Md. Oahiduzzaman Mondol Zihad
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Applying blockchain for primary financial market: A survey
- Author(s): Ji Liu ; Zheng Xu ; Ruiqiang Li ; Hang Zhao ; Hongbo Jiang ; Jinhui Yao ; Dong Yuan ; Shiping Chen
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Blockchain‐based reliable image copyright protection
- Author(s): Xiangli Xiao ; Xiaotong He ; Yushu Zhang ; Xuewen Dong ; Lu‐Xing Yang ; Yong Xiang
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Waterfall: Gozalandia. Distributed protocol with fast finality and proven safety and liveness
- Author(s): Sergii Grybniak ; Yevhen Leonchyk ; Igor Mazurok ; Oleksandr Nashyvan ; Ruslan Shanin
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Empirically comparing the performance of blockchain's consensus algorithms
- Author(s): Ashar Ahmad ; Abdulrahman Alabduljabbar ; Muhammad Saad ; DaeHun Nyang ; Joongheon Kim ; David Mohaisen