Cryptocurrencies and Blockchain Technology Applications E-Book
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- Herausgeber: John Wiley & Sons
- Kategorie: Fachliteratur
- Sprache: Englisch
As we enter the Industrial Revolution 4.0, demands for an increasing degree of trust and privacy protection continue to be voiced. The development of blockchain technology is very important because it can help frictionless and transparent financial transactions and improve the business experience, which in turn has far-reaching effects for economic, psychological, educational and organizational improvements in the way we work, teach, learn and care for ourselves and each other. Blockchain is an eccentric technology, but at the same time, the least understood and most disruptive technology of the day. This book covers the latest technologies of cryptocurrencies and blockchain technology and their applications. This book discusses the blockchain and cryptocurrencies related issues and also explains how to provide the security differently through an algorithm, framework, approaches, techniques and mechanisms. A comprehensive understanding of what blockchain is and how it works, as well as insights into how it will affect the future of your organization and industry as a whole and how to integrate blockchain technology into your business strategy. In addition, the book explores the blockchain and its with other technologies like Internet of Things, big data and artificial intelligence, etc.
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Table of Contents
Cover
List of Figures
List of Tables
Foreword
Preface
Acknowledgments
Acronyms
PART I: CRYPTOCURRENCIES AND BLOCKCHAIN TECHNOLOGY
CHAPTER 1: BLOCKCHAIN: A NEW ERA OF TECHNOLOGY
1.1 Introduction to Web 3.0
1.2 Blockchain
1.3 Bitcoin
1.4 Ethereum
1.5 InterPlanetary File System (IPFS)
1.6 Decentralized Applications (DApps)
1.7 Case Study: FIR
1.8 Conclusion
REFERENCES
CHAPTER 2: BLOCKCHAIN: A PATH TO THE FUTURE
2.1 Introduction
2.2 Blockchain Architecture
2.3 Types of Blockchain Systems
2.4 Consensus Algorithms
2.5 Blockchain Applications That Are Transforming Society
2.6 Future Scope
REFERENCES
CHAPTER 3: BLOCKCHAIN IN 5G
3.1 Introduction
3.2 Data Economy of Blockchain and 5G
3.3 Combination of Blockchain Technology and 5G Mobile Connection
3.4 How to Use 5G and Blockchain Together
3.5 Applications of Blockchain and 5G
3.6 Conclusion
REFERENCES
CHAPTER 4: BLOCKCHAIN IN SOCIAL NETWORKING
4.1 Overview of Blockchain and Social Networking Platform
4.2 Decentralized Online Social Network
4.3 Trusted Social Network with Blockchain Technology
4.4 Privacy-Preserving Services for Social Network
4.5 Issues and Challenges of Blockchain in Social Network
4.6 Conclusion
REFERENCES
CHAPTER 5: INTEGRATING BLOCKCHAIN WITH CACC FOR TRUST AND PLATOON MANAGEMENT
5.1 Introduction
5.2 Literature Review
5.3 Background
5.4 Consensus in Blockchain
5.5 Proposed Framework
5.6 Experiments
5.7 Results and Discussion
5.8 Conclusion
REFERENCES
CHAPTER 6: IMPACT OF BLOCKCHAIN FOR INTERNET OF THINGS SECURITY
6.1 Introduction
6.2 Challenges and Issues in IoT
6.3 Blockchain
6.4 IoT Blockchain Approaches
6.5 Research Challenges
6.6 Conclusion
REFERENCES
CHAPTER 7: CHAOS CONTROL DYNAMICS OF CRYPTOVIROLOGY IN BLOCKCHAIN
7.1 Introduction
7.2 Mathematical Modeling and Stability Analysis
7.3 Lyapunov Exponent and Chaos
7.4 Controlling of Chaos
7.5 Conclusion
REFERENCES
CHAPTER 8: BLOCKCHAIN AND BITCOIN SECURITY
8.1 Introduction
8.2 Security Threats to Bitcoin
8.3 Working Idea of Bitcoin
8.4 Case Study for Analyzing the Reason for Fall in Bitcoin Value
8.5 Analyzed Report
8.6 Rise of Bitcoin Value
8.7 Conclusion
REFERENCES
PART II: CRYPTOCURRENCIES AND BLOCKCHAIN APPLICATIONS
CHAPTER 9: APPLICATIONS WITH BLOCKCHAIN TECHNIQUE
9.1 Introduction
9.2 Applications of Blockchain Technology
9.3 Conclusion
REFERENCES
CHAPTER 10: IMPACT OF APPLICATION OF BIG DATA ON CRYPTOCURRENCY
10.1 Introduction
10.2 Related Studies
10.3 Cryptocurrency
10.4 Blockchain
10.5 Big Data
10.6 Coexistence of Big Data and Blockchain
10.7 Future Aspects of Cryptocurrency with Big Data
10.8 Conclusion
REFERENCES
CHAPTER 11: A NEOTERIC SMART AND SUSTAINABLE FARMING ENVIRONMENT INCORPORATING BLOCKCHAIN-BASED ARTIFICIAL INTELLIGENCE APPROACH
11.1 Introduction
11.2 Artificial Intelligence Technology and Its Impact on Agriculture
11.3 Blockchain Technology (BCT) and Its Impact on Agriculture
11.4 A Neoteric Smart and Sustainable Farming Environment Incorporating Blockchain-Based Artificial Intelligence Approach
11.5 Conclusion and Future Work
REFERENCES
CHAPTER 12: THEORIES OF CRYPTOCURRENCY, BLOCKCHAIN AND DISTRIBUTED SYSTEMS AND ENVIRONMENTAL IMPLICATIONS
12.1 Introduction
12.2 Literature Review
12.3 Theories of Cryptocurrency, Blockchain and Distributed Systems
12.4 Environmental Implications of the Cryptocurrency Market
12.5 Conclusion
REFERENCES
CHAPTER 13: BLOCKCHAIN TECHNOLOGY: A PARADIGM SHIFT IN INVESTMENT BANKING
13.1 Introduction
13.2 Literature Review
13.3 Statement of the Problem
13.4 Results
13.5 Discussion of Findings
13.6 Conclusion
REFERENCES
CHAPTER 14: TRADING ENERGY AS A DIGITAL ASSET: A BLOCKCHAIN-BASED ENERGY MARKET
14.1 Introduction
14.2 Blockchain-Based P2P Energy Market
14.3 Distributed Ledger for Energy Tracking
14.4 Self-Enforcing Smart Contracts for Energy Market Management
14.5 Conclusion
REFERENCES
CHAPTER 15: APPLICATION VIEW TOWARDS BLOCKCHAIN: DEMYSTIFYING THE MYTHS
15.1 Introduction
15.2 What Blockchain Does Not Replace
15.3 Mining Mechanism
15.4 Various Participants of Blockchain System
15.5 Organized Use Cases
15.6 Hyperledger
15.7 Steps to Creating Your Own App
15.8 Advertising Industry
15.9 Present Day Implementation
15.10 Versatile Use Cases
15.11 Myths
15.12 Conclusion
REFERENCES
End User License Agreement
List of Tables
Chapter 1
Table 1.1 Difference between Client-Server and P2P.
Table 1.2 Difference between bitcoin, ethereum, and hyperledger.
Chapter 2
Table 2.2 Consensus algorithms comparison.
Chapter 4
Table 4.1 Issues and techniques related to different areas of social media.
Chapter 5
Table 5.1 Testbed details.
Chapter 8
Table 8.1 Bitcoin value changes against the U.S. dollar and their reasons.
Chapter 11
Table 11.1 Generations of blockchain.
Chapter 12
Table 12.1 Bitcoin energy consumption.
Chapter 13
Table 13.1 Model fit summary of the structural equation model of adaptability of...
Table 13.2 Confirmatory factor analysis of the impact of the adoption of technol...
Table 13.3 Regulatory framework and performance on the adaptability of the block...
Table 13.4 Model fit summary of the multiple linear regression model.
Table 13.5 The performance predictors in the regression model.
Chapter 14
Table 14.1 Generator functions for zero-knowledge proofs.
Table 14.2 Prover and verifier functions for zero-knowledge proofs.
Table 14.3 Public vs. private blockchain for energy marketplace implementation.
Chapter 15
Table 15.1 Famous cryptocurrencies around the world.
Table 15.2 List of some key players in the advertising industry.
Table 15.3 List of some successful startups using blockchain around the world an...
Table 15.4 The list of some successful Indian startups and their basic applicati...
List of Illustrations
Chapter 1
Figure 1.1 Sectors of blockchain.
Figure 1.2 Cryptographically linked blocks.
Figure 1.3 Hash function.
Figure 1.4 Immutability of blockchain.
Figure 1.5 P2P network of blockchain.
Figure 1.6 Process of mining.
Figure 1.7 Ethereum network.
Figure 1.8 Interfacing with Ethereum.
Figure 1.9 Transaction in Ethereum network.
Figure 1.10 Index page of the application.
Figure 1.11 Fields for a complaint.
Figure 1.12 Submitting the complaint.
Figure 1.13 Fetching complaint by ID.
Figure 1.14 Fetching recent complaint.
Chapter 2
Figure 2.1 Continuous sequence of blocks in blockchain.
Figure 2.2 Block structure.
Figure 2.3 Digital signature.
Figure 2.4 Blockchain branches scenario.
Figure 2.5 Double-spending attack script.
Figure 2.6 Technique for choosing main chain when fork appears.
Chapter 3
Figure 3.1 Blockchain – the invisible technology.
Figure 3.2 Transaction cycle of blockchain.
Figure 3.3 Collaboration of Blockchain with 5G.
Figure 3.4 The fusion of Blockchain and 5G.
Chapter 4
Figure 4.1 An example of blockchain.
Figure 4.2 Block structure.
Figure 4.3 Popular social networks as of April 2019.
Figure 4.4 Data generated every single minute (Courtesy of Domo, Inc.).
Figure 4.5 DOSN architecture.
Figure 4.6 Hierarchical organization of social content.
Figure 4.7 An instance of an object structure.
Figure 4.8 Architecture of blockchain-based information exchange.
Figure 4.9 Comparison of SIR and Blockchain-based SIR model.
Figure 4.10 Blockchain technology market size.
Chapter 5
Figure 5.1 CACC platooning variants.
Figure 5.2 Blockchain.
Figure 5.3 Blockchain in the platoon for intra-platoon communication and plato...
Figure 5.4 Periodic self-status update in a smart contract by vehicle.
Figure 5.5 Operations performed by the initial vehicles (validator nodes) in t...
Figure 5.6 Operations performed by non-initial platoon members.
Figure 5.7 Blockchain for trust and reputation management at RSU plane.
Figure 5.8 Testbed setup for the CACC platoon of vehicular plane.
Figure 5.9 Testbed setup for maintaining blockchain at the RSU plane.
Figure 5.10 CPU utilization of blockchain node (vehicle) when running the PoA ...
Figure 5.11 System performance of blockchain node (RSU) when idle.
Figure 5.12 System performance of blockchain node (RSU) when mining.
Chapter 7
Figure 7.1 Schematic diagram of the VVP model.
Figure 7.2 The different dynamic states observed in 2D phase space.
Figure 7.3 Combined time series plots for different dynamic states.
Figure 7.4 Bifurcation diagram for variation in
b
1
parameter.
Figure 7.5 Lyapunov exponent plot for different dynamic states.
Figure 7.6 Synchronization in Case 1 and synchronization with chaos control of...
Chapter 8
Figure 8.1 Understanding a Bitcoin transaction.
Figure 8.2 Average percentage of the Bitcoin value drop.
Figure 8.3 Bitcoin price prediction.
Chapter 9
Figure 9.1 Linked list.
Figure 9.2 Hash function.
Figure 9.3 Simplified Bitcoin blockchain.
Figure 9.4 Client-Server model.
Figure 9.5 Peer-to-peer connection.
Figure 9.6 Centralized vs. Decentralized downloading.
Figure 9.7 Photo showing the effects of the ban on spinach due to the
E. coli
...
Figure 9.8 Flow of supply process.
Figure 9.9 Representation of cybersecurity.
Figure 9.10 Representation of voting technology using blockchain.
Figure 9.11 Representation of voting system.
Chapter 10
Figure 10.1 Growth of big data from GBs to ZBs.
Figure 10.2 Expected growth of bitcoins based on past data.
Figure 10.3 Schematic of how a blockchain works.
Figure 10.4 Growth of big data research studies by various people in different...
Figure 10.5 Digital transformations in Industry 4.0 using Big Data.
Figure 10.6 Use of blockchain and big data in health facilities.
Chapter 11
Figure 11.1 Farmers across various states caught in the cycle of agricultural ...
Figure 11.2 Types of blockchain.
Figure 11.3 Major components of the global agricultural blockchain.
Figure 11.4 Challenges facing blockchain methodology.
Figure 11.5 Artificial intelligence approach to revolutionize farming methodol...
Figure 11.6 Potential benefits and opportunities provided through blockchain i...
Figure 11.7 Different stages of the agricultural supply chain in which the pro...
Chapter 12
Figure 12.1 Bitcoin energy consumption index.
Figure 12.2 Photographic depiction of the relation between cryptocurrencies an...
Figure 12.3 The environmental impacts of Bitcoin.
Figure 12.4 Simple blockchain model.
Figure 12.5 Distributed ledger technology (DLT).
Figure 12.6 Distributed communications networks.
Figure 12.7 Blockchain structure.
Figure 12.8 How blockchain works.
Figure 12.9 Diagram of the combined technological advancements of Bitcoin.
Figure 12.10 The November 1, 2008 online post of Satoshi Nakamoto announcing t...
Figure 12.11 Digital signatures.
Figure 12.12 How a blockchain works.
Figure 12.13 Published blockchain and private blockchain.
Figure 12.14 The threat of double-spending.
Figure 12.15 What is blockchain technology?
Figure 12.16 Blockchain: A blockchain is a linked list that is built with hash...
Figure 12.17 Environmental implications of the cryptocurrency market.
Figure 12.18 Steps to determine Bitcoin’s energy consumption.
Chapter 13
Figure 13.1 Applications of blockchain technology.
Figure 13.2 Blockchain technology for better customer experience.
Figure 13.3 Theoretical framework of investment banks.
Figure 13.4 Process in front-end operations.
Figure 13.5 Process in middle operations.
Figure 13.6 Process in back-end operations.
Figure 13.7 Flowchart representation of a conceptual framework.
Figure 13.8 Path diagramwith standardized estimates displayed based on the reg...
Chapter 14
Figure 14.1 Blockchain-based P2P energy market.
Figure 14.2 Example of P2P network distributed ledger [26].
Figure 14.3 Energy transactions registered in blockchain.
Figure 14.4 Merkle tree for storing multiple energy transactions and Merkle pa...
Figure 14.5 Private transaction for energy tokens using zero-knowledge proofs....
Figure 14.6 Smart contract controlling prosumers registration in the energy ma...
Figure 14.7 Energy token based on ERC-721 contract (left) and token metadata (...
Figure 14.8 Prosumer-level smart contracts for defining energy bids (left) and...
Figure 14.9 Smart contract for market session management.
Figure 14.10 Smart contract for market session financial settlement.
Chapter 15
Figure 15.1 Parts of a block in a blockchain.
Figure 15.2 The market capital of the main cryptocurrencies; the total market ...
Guide
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Scrivener Publishing
100 Cummings Center, Suite 541J
Beverly, MA 01915-6106
Publishers at Scrivener
Martin Scrivener ([email protected])
Phillip Carmical ([email protected])
Cryptocurrencies and Blockchain Technology Applications
Edited by
Gulshan Shrivastava
National Institute of Technology Patna, India
Dac-Nhuong Le
Haiphong University, Haiphong, Vietnam
Kavita Sharma
National Institute of Technology, Kurukshetra, India
This edition first published 2020 by John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, USA and Scrivener Publishing LLC, 100 Cummings Center, Suite 541J, Beverly, MA 01915, USA© 2020 Scrivener Publishing LLCFor more information about Scrivener publications please visit www.scrivenerpublishing.com.
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Library of Congress Cataloging-in-Publication Data
ISBN 978-1-119-62116-4
Cover image: Pixabay.ComCover design by Russell Richardson
Dedicated to our friends and family for their constant support during the course of this book
List of Tables
1.1
Difference between Client-Server and P2P.
1.2
Difference between bitcoin, ethereum, and hyperledger.
2.1
Classification of blockchain systems.
2.2
Consensus algorithms comparison.
4.1
Issues and techniques related to different areas of social media.
5.1
Testbed details.
8.1
Bitcoin value changes against the U.S. dollar and their reasons.
11.1
Generations of blockchain.
12.1
Bitcoin energy consumption.
13.1
Model fit summary of the structural equation model of adaptability of blockchain technology in investment banks.
13.2
Confirmatory factor analysis of the impact of the adoption of technology on the performance based on the SEM model.
13.3
Regulatory framework and performance on the adaptability of the blockchain.
13.4
Model fit summary of the multiple linear regression model.
13.5
The performance predictors in the regression model.
14.1
Generator functions for zero-knowledge proofs.
14.2
Prover and verifier functions for zero-knowledge proofs.
14.3
Public vs. private blockchain for energy marketplace implementation.
15.1
Famous cryptocurrencies around the world.
15.2
List of some key players in the advertising industry.
15.3
List of some successful startups using blockchain around the world and their basic field of work.
15.4
The list of some successful Indian startups and their basic application and product.
Foreword
The concept of blockchain recently came into the limelight when the hype around Bitcoin and other cryptocurrencies gained momentum. Blockchain is the underlying principle behind cryptocurrencies. At the center of blockchain is a distributed ledger that records all the transactions that take place in the network. A blockchain network is usually described as decentralized because it is replicated across many network participants, each of which collaborates in its maintenance. In addition to being decentralized and collaborative, the information recorded on the blockchain is also immutable, which guarantees that once a transaction has been added to the ledger, it cannot be modified. This property of immutability assures the participants that their information is safe and secure.
The technology itself holds much more promise in various areas such as time stamping, logging of critical events in a system, recording of transactions, trustworthy e-governance, etc. With blockchain technology in the financial sector, participants can interact directly and can make transactions across the Internet without the interference of a third party. Such transactions through blockchain will not share any personal information regarding participants and it creates a transaction record by encrypting the identifying information. The most exciting feature of blockchain is that it greatly reduces the possibilities of a data breach. In contrast with the traditional processes, in blockchain there are multiple shared copies of the same database which makes it challenging to wage a data breach attack or cyber-attack. With all the fraud resistant features, the blockchain technology holds the potential to revolutionize various business sectors and make processes smarter, more secure, more transparent, and more efficient compared to traditional business processes.
Many researchers are working on multiple uses such as decentralized public key infrastructure, self-sovereign identity management, registry maintenance, health record management, decentralized authentication, decentralized DNS, etc. Also, corporations, such as IBM and Microsoft, are developing their own applications in diverse fields such as the Internet of Things (IoT), etc., even enabling blockchain platforms on the cloud.
With all the best available expertise and knowledge, the editors provide a complete and comprehensive collection of chapters that address the various aspects of blockchain technology such as decentralization computing, automation of content extraction and an assortment of business applications in blockchain using machine learning, evolutionary algorithms and other techniques.
By the end of the book, the reader will know everything one needs to know about blockchain technology and be ready use that information for future applications and investments.
Professor Nguyen Thanh Thuy
VNU University of Engineering and Technology, Vietnam
April 2020
Preface
Blockchain is in its early phase of development where experiments are performed on existing systems by developers working on reducing the cost and making user activities faster. Their support is limited in terms of computing power and the number of nodes within the network being small. The current situation is that solutions are usually designed to address where the decentralized system makes decisions. Coin offerings made by blockchain technology implemented using smart contract can deliver high proposition value to the solution over a decentralized network where each node will have equal importance and control over the decisions made by the system. In the future, real power is empowered by smart contract where advanced technologies will enable transactions at a faster rate. Satoshi Nakamoto published his paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System” in October 2008 and released it in January 2009, which was a clear sign of the disruption of the financial and banking sectors to come. Since it is a practical solution with limiting technology, it seemed very unlikely to have drawbacks to its success and full-fledged implementation. With the exception of financial sectors, healthcare, supply chains, and governments look forward to implementing game-changing results. Companies acting as a middleman to conduct business can be eliminated using this technology. Thus, they are looking forward to utilizing blockchain technology to remove central authority over the network. It enables us to achieve transformative change but will take time to solve existing challenges with user scalability and complexity of transaction. Thus, the blockchain technology can be imagined as the ozone layer in the atmosphere where with its presence we can stop many malicious activities in the field of computer technology, where it acts as a protective shield to the users’ data against attackers.
Objective of the Book
This book covers the latest cryptocurrencies and blockchain technologies and their applications. It discusses blockchain and cryptocurrencies related issues and also explains how to provide the security differently through algorithms, frameworks, approaches, techniques and mechanisms. This book explores blockchain in relation to other technologies like IoT, big data, artificial intelligence, etc.
Organization of the Book
This book consists of 15 chapters which are organized into two sections. The first section of the book contains eight chapters focusing mainly on blockchain technology and its impact on IoT and social networks. The second section consists of seven chapters that concentrate mostly on the cryptocurrencies and blockchain applications. A brief description of each of the chapters follows:
Section 1: Cryptocurrencies and Blockchain Technologies
(
Chapters 1
-
8
)
Chapter 1
: In this chapter, the author discusses how the advent of Blockchain Technology has changed the lives of people, giving them a new dimension. It has changed the perspective of viewing things on the web and has been more user-centric and user-friendly. Blockchain, with its wide range of technology, has provided more data security. The hashing algorithms used security parameters that have a wide diversity in controlling the cybercrimes occurring in the world and also solve the problem of data breach and money, and property-related issues. With this, sectors like digital advertising, cybersecurity, forecasting, supply chain management, IoT, and networking have a fantastic future. It has a comprehensive perspective of the new occupation industry. In a client-server architecture, users experience a single point of failure and even it is prone to attackers to provide a better solution. The use of distributed network improves the efficiency of the system and provides more security to the system. The transactional activities can be performed much faster and can be efficiently used. The blockchain technology provides a sustainable and efficient method to the existing service structures where some are underperforming and have unreliable security. The authors discuss that the blockchain technology is going to be used in many more sectors in the future, such as in government systems, as these systems are slow, dense, and likely to be affected by corruption. Implementing blockchain technology in government systems can make their operations much more secure and efficient.
Chapter 2
:
In this chapter, the author discusses the blockchain technology architecture with the consensus algorithms involved in it. Also, the type of blockchain systems and applications, such as those in reputation systems and the internet of things (IoT), are discussed. Future directions in the field of blockchain are also discussed.
Chapter 3
:
In this chapter, the author discusses the ability of blockchain to reduce business costs, simplifying various processes and interactions with others. Blockchain can provide its users with a faster and safer way to verify essential information and establish trust. With the advent of 5G technology, which provides faster speed and faster communication, its impact can be seen everywhere. This chapter also discusses how blockchain makes supply chains trustful and trackable. Because of the enormous potential of blockchain, it can be thought of as the operating system of the future. It also helps in streamlining processes and removing intermediaries.
Chapter 4
:
This chapter discusses various blockchain-based social media platforms. Today’s primary concern is social media platform security and privacy. Blockchain-based social media provides more benefits than just security and privacy. It assists in gaining control over the user’s content and enables e-commerce, crowd-funding transactions as well as smart apps and contracts. This chapter also highlights the research challenges and issues facing the blockchain social network.
Chapter 5
:
In this chapter, the rapid advancement in connected and automated vehicle technologies are discussed. Cooperative adaptive cruise control (CACC)-based platooning is used as a case study. The CACC-based platooning can enhance safety and driving comfort, increase traffic throughput, and reduce fuel consumption and pollutant emissions. Various platooning maneuvers, such as merge, split, lane change, leave, etc., have been integrated with CACC-based platooning to meet the objectives mentioned above. In such a platooning, a platoon leader plays a crucial role in the execution of various functions such as synchronization, collision avoidance, coordination, and better route planning. However, if a malevolent vehicle becomes the leader, it may put the entire platoon in danger. Thus, vehicles must elect a trusted and reputed leader to lead the platoon. The unencrypted broadcast inter-vehicle communication of CACC exposes vehicles to several security threats. Establishing trust among vehicles is a critical challenge. The author states that the core features of the blockchain of decentralization, immutability, security, and high availability turn out to be a strong contender for addressing the challenge. Introduction of blockchain platforms supporting smart contracts helps build trust among untrusted parties and enhances the decision-making processes.
Chapter 6
:
In this chapter, the author discusses various applications of IoT, followed by security and privacy issues. The internet of things (IoT) plays a significant role in the industry and is encouraging research to come up with various applications by bringing economic and social benefits to society. The impact of IoT can be seen in various environments like mission-critical applications, health, transport systems, video surveillance, banking, etc. The chapter discusses challenges for secure IoT followed by an introduction to blockchain technology along with various advantages of blockchain for IoT. The author discusses the application domains of blockchain technology in IoT, classification of threat models that are considered by blockchain protocols for IoT networks, and comparison of state-of-art secure models concerning blockchain. The IoT objects are interconnected to each other, but the functions of these vary from each other, which yield better results of security with the conventional approaches. To address the security and privacy concerns, the central server concept is eliminated and blockchain technology is introduced as a part of IoT, blockchain, which is used to provide security in a peer-to-peer network which is similar to IoT technology.
Chapter 7
:
In this chapter, the author discusses the dynamics of worm propagation in cryptovirology. A nonlinear epidemic model is applied to study the viral propagation of worm in the cyber network system and the effect of rate of worm infection on the dynamics of the model is analyzed. In this chapter, the author discusses how the internet is used as a powerful tool for communication, cyber transactions and cyber networks; most computers are interconnected through the same operating software. Also, in the present era, the internet becomes the primary medium for cybercrime. Cybercrimes are committed by developing malicious codes or programs which invade private and public computers, gathering information and posing security threats. The highest risks faced by computer networks is from viral malware or worm propagation which target the software vulnerability. Like in cryptovirology, cryptography is used to design powerful malicious software. The security of critical networks is targeted and chaotic or erratic behavior is introduced in their performance, leading to disruption in the complete system. Also, in recent times, blockchain security vulnerabilities have become an issue of distributed ledger technology.
Chapter 8
:
In this chapter, the author shows the strength of Bitcoin value, even though it has many security threats. With the help of a case study, the major contributing security breach which caused a drop in the value of Bitcoin is identified. Also, there is a focus on the prediction of the future value of the Bitcoin. Bitcoin is the world’s first virtual currency.
Section 2: Cryptocurrencies and Blockchain Applications
(
Chapter 9
-
15
)
Chapter 9
:
In this chapter, the blockchain technologies are discussed that could be used to develop a lot of applications, which is similar to the internet. The information recorded on a blockchain can take on any form, whether it is denoting a transfer of money, ownership, a transaction, someone’s identity, an agreement between two parties, or even how much electricity a light bulb has used. It can be done by getting confirmation from several devices such as the computer on the network. The data cannot be removed or altered by anyone without the knowledge and permission of those who made that record, as well as the wider community. In blockchain technology, rather than keeping information in one central point, as is done by traditional recording methods, multiple copies of the same data are stored in different locations and on different network devices, such as computers or printers, which is called peer-to-peer network. If one point of storage is damaged or lost, multiple copies remain safe and secure elsewhere and if one piece of information is changed without the agreement of the rightful owners, there are countless other examples in existence where the information is right, making the false record obsolete. Blockchain owes its name to the manner in which it works and where data is stored, that means the information is packed into blocks, which link to form a chain with similar blocks. Usually, each block contains the data it is recording. It also includes a digital signature linked to the account that made the recording and a unique identifying link, in the form of a hash (think of it as a digital fingerprint), to the previous block in the chain. It is this link that makes it impossible for any of the information to be altered or for a block to be inserted between two existing blocks. In order to do so, all the following blocks would need to be edited too. As a result, each block strengthens the previous block and the security of the entire blockchain because it means more blocks would need to be changed to tamper with any information. When combined, all of these create unquestionable storage of information which cannot be disputed or declared to be untrue. This chapter discusses the working of blockchain technology.
Chapter 10
:
This chapter provides an outlook on big data and blockchain individually with viewpoints of various situations in which both Big Data and Blockchain coexist to ensure data quality in various sectors, including web, health, education and government through diagrams, working and inner implementations. The importance of Blockchain-Big Data in the national development with its various aspects in Industry 4.0 and some other future aspects that need to be addressed are also discussed. This chapter is designed to give insights into various facets of cryptocurrency, blockchain and big data, which are combined to perform certain operations pertaining to the task of any organization or institution that may be private or public.
Chapter 11
:
In this chapter, the author proposes a smart farming environment based on artificial intelligence (AI) and blockchain technology. Artificial intelligence can be harnessed to automate and manage agricultural and related tasks while blockchain technology can help in intensifying agriculture food and supply chains. A sensational AI-based approach helps in developing the smart farming environment that can efficiently gather and monitor data for real-time monitoring to address the uncertain issues faced by the agricultural community. Because of the rapid increase in global population, there will be an increase of nearly 70% in the agricultural production by 2050 to meet the ever-increasing demands of people. To develop cost-effective agricultural solutions, 90% intensification is required on technological farming for achieving agricultural inputs and market demands. Today, the agricultural sector is affected by various factors like increased labor costs, increased population, crop failures, unpredictable yields, extreme weather, climate change, market fluctuations, etc. All these factors have directly or indirectly affected the socioeconomic status of farmers. With such a large number of challenges and increasing demands, there is a need to implement an artificial intelligence-based approach for developing the smart farming environment for real-time monitoring and management of agricultural issues. Blockchain can handle issues related to the increased demands for agricultural products with transparency and trust. It accompanies a variety of certification schemes on branded agricultural products that face issues related to claims, labels and adulterations. Blockchain can prove to be an efficient solution for agricultural products safety, quality and sustainability. Blockchain ensures the permanency of records during data sharing. ICT in the agricultural sector provides more efficient solutions for effective water and land usage, resulting in maximum agricultural yields. The author proposes a neoteric smart and sustainable farming environment incorporating the blockchain-based artificial intelligence approach.
Chapter 12
:
In this chapter, the author states that many countries have quantified their purpose to create an ecosystem in which businesses can grow, which can only mean the continued growth of the sector in the predictable future. Simultaneously, it reduces the friction of making payments and transfers in fiat currency, facilitated by e-money. This has raised the bar of virtual currency and the cryptocurrency market. Bill Gates opined that “
Banking is essential, banks are not
.” The early 21st century has seen a proliferation of financial technology and analytics firms, providing a wide and varied array of services, from payments and local and international money transmission to financing through P2P lending and crowdfunding. Venture capital funding in the U.K. for financial technology-related business increased to more than US$500 million in 2014, while the sector is estimated to contribute more than GBP 20 billion to the economy. Cryptocurrencies have come a long way from their relatively ambiguous origins. Even though the financial institutions have concerns about digital currencies as tools for criminals, terrorists or rebellious individuals frustrated with traditional money, the industry has significantly progressed in establishing their potential legitimacy.
Chapter 13
:
In this chapter, the author discusses how blockchain technology can create ramifications across the investment banking ecosystem due to their cryptographic distributed ledger. The author evaluates the adaptation feasibility and predicts performance for a regulatory framework when investment banks apply blockchain technology. Random sampling is used with a sample size of 50 respondents from investment banks operating in urban Bangalore based on the primary data collected. Statutory impact (SI), compliance policy (CP), fiscal policy (FP), competitive edge (CE) and service-level agreement (SLA) are the variables. The statistical software used to test structural equation model (SEM) with confirmatory factor analysis (CFA), multiple linear regression analysis and one-way ANOVA (analysis of variance) are SPSS and SPSS AMOS. SI is the most influential variable and has a more significant impact on acceptability with beta value 0.899 at 0.001 percent significant level with Chi-square value of 3.14 and the estimated reliability post-adoption of 81 per cent. SI, CP, SLA, and CE are the significant predictors of performance with a higher association between the performance of the banks and regulatory framework indicators with significance at 0.01 percent level. The author discusses how technology can reduce the middle- and back-end operating cost and improves transparency.
Chapter 14
:
In this chapter, the author discusses how blockchain technology could facilitate and help to implement a market, allowing the transformation of energy in a digital asset which could be tracked and traded. The author discusses the smart energy grid decentralization problem by proposing a blockchain-based energy market allowing the energy to be traded among prosumers in a peer-to-peer fashion. The main advantages brought by the blockchain technology, such as energy provenance, transaction privacy and immutability, are discussed and details on their implementation in our envisioned energy market are provided. To implement the energy market management operations, such as prosumers registration and permission control, bids and offers matching and financial settlement self-enforcing smart contracts are used. At the same time, the prosumers level smart contract is used to automatize the bids and offers registration and monitor their energy generation and demand.
Chapter 15
:
In this chapter, the author discusses blockchain from an application point of view, throwing some light on mining mechanism, participants of the blockchain system, and organized and versatile use cases, while demystifying the related myths. Blockchain is an eccentric technology, in addition to being the most vaunted, least understood and most disrupting technology of the current era.
Gulshan Shrivastava
National Institute of Technology Patna, India
Dac-Nhuong Le
Hai Phong University, Hai Phong, Vietnam
Kavita Sharma
National Institute of Technology, Kurukshetra, India
Acknowledgments
First of all, we would like to thank the authors for contributing their excellent chapters to this book. Without their contributions, this book would not have been possible. Thanks to all our friends for sharing our happiness at the start of this project and following up with their encouragement when it seemed too difficult to complete.
We would like to acknowledge and thank the most important people in our life, our parents, and finally, give thanks to god. This book has been a long-cherished dream of ours which would not have been turned into reality without the support and love of our families, who encouraged us despite not giving them the proper time and attention.
Gulshan Shrivastava
National Institute of Technology Patna, India
Dac-Nhuong Le
Hai Phong University, Hai Phong, Vietnam
Kavita Sharma
National Institute of Technology, Kurukshetra, India
Acronyms
5G
The next (5th) Generation
AI
Artificial Intelligence
ACC
Adaptive Cruise Control
AMOS
Analysis of Moment Structure
ANOVA
Analysis of Variance
AGFI
Adjusted Goodness of Fit Index
API
Application Programming Interface
AWS
Amazon Web Services
ADEPT
Autonomous Decentralized Peer-to-Peer Telemetry
BCT
Blockchain Technology
BG
Byzantine Generals
CA
Certificate Authority
CACC
Cooperative Adaptive Cruise Control
CE
Competitive Edge
CFA
Confirmatory Factor Analysis
CFI
Comparative Fit Index
CP
Compliance Policy
C-DAC
Center for Development of Advanced Computing
CSS
Cross-Site Scripting
CP
Compliance Policy
CPU
Central Processing Unit
CoAP
Constrained Application Protocol
DApp
Decentralized Application
DHT
Distributed Hash Table
DPoS
Delegated Proof of Stake
dBFT
Delegated Byzantine Fault Tolerance
DLT
Distributed Ledger Technology
DNS
Domain Name System
DOSN
Distributed Online Social Network
DoS
Denial of Service
DDoS
Distributed Denial of Service
DTSL
Datagram Transport Layer Security
DSRC
Dedicated Short-Range Communications
EVM
Ethereum Virtual Machine
ECDSA
Elliptic Curve Digital Signature Algorithm
EHR
Electronic Health Record
ERP
Enterprise Resource Planning
EMR
Electronic Medical Record
FIR
First Information Report
FP
Fiscal Policy
GFI
Goodness of Fit Index
GUID
Global Unique Identification
HDAC
Hyundai Digital Access Currency
HTTP
Hypertext Transfer Protocol
HTML
Hypertext Markup Language
HD
High Definition
IANA
Internet Assigned Numbers Authority
IB
Investment Banks
ICT
Information and Communications Technology
IoT
Internet of Things
IPFS
InterPlanetary File System
I2V
Infrastructure-to-Vehicle
IP
Internet Protocol
IPv6
Internet Protocol version 6
IT
Information Technology
ICO
Initial Coin Offering
IoV
Internet of Value
IPO
Initial Public Offering
JSP
Java Server Pages
KYC
Know Your Customer
LPoS
Leased Proof-of-Stake
LoWPAN
Low-Power Wireless Personal Area Networks
LWM2M
Lightweight M2M
M2M
Machine to Machine
MBD
Misbehavior Detection
MQTT
Message Queuing Telemetry Transport
NAV
Net Asset Value
NIFTY
National Stock Exchange Index
NFI
Normed Fit Index
NHTSA
National Highway Transportation Safety Agency
NSA
National Security Agency
OBC
Open Blockchain
OS
Operating System
OBM
Original Brand Manufacturing
PKI
Public Key Infrastructure
PHP
Hypertext Preprocessor
PC
Personal Computer
P2P
Peer to Peer
PoW
Proof of Work
PoS
Proof of Stake
PBFT
Practical Byzantine Fault Tolerance
PoET
Proof of Elapsed Time
PoA
Proof of Activity
PoB
Proof of Burn
PL
Platoon Leader
RMSEA
Root Mean Square Error of Approximation
RMR
Root Mean Square Residential
RF1
Statutory Impact
RF2
Compliance policy
RF3
Competitive edge
RF4
Fiscal Policy
RF5
Service Level agreement
RFW
Regulatory Framework
REST
Representational State Transfer
RPC
Remote Procedure Call
RSU
Road-Side Units
RAT
Radio Access Technology
RPL
Routing Protocol for Low-Power and Lossy Networks
RFID
Radio Frequency Identification
RBAC
Role-Based Access Management
SIS
Susceptible, Infected, Susceptible Model
SEIR
Susceptible, Exposed, Infected and Recovered
SEI
Susceptible Exposed Infected
SC
Smart Contract
SCMS
Security Credential Management System
SIR
Susceptible, Infected, Recovered
SI
Statutory Impact
SLA
Service Level Agreement
S&P
Standard & Poor’s (Index)
SEM
Structural Equation Model
SQL
Structured Query Language
SSL
Secure Sockets Layer
SCP
Stellar Consensus Protocol
SO
Social Overlay
SHA
Secure Hash Algorithm
TA
Trusted Authority
TCS
Tata Consultancy Service
TSL
Transport Layer Security
TCP
Transmission Control Protocol
UGV
Unmanned Ground Vehicle
UI
User Interaction
URL
Uniform Resource Locator
UTXO
Unspent Transaction Output
UNL
Unique Node List
VANET
Vehicular Ad-Hoc Networks
VVP
Virus-Vulnerable and Protected
V2X
Vehicle-to-Everything
V2V
Vehicle-to-Vehicle
V2I
Vehicle-to-Infrastructure
XHTML
Extensible Hypertext Markup Language
XMPP
Extensible Messaging and Presence Protocol
XAMP
X-Cross Platform
XSS
Cross-Site Scripting
W3C
World Wide Web Consortium
WAVE
Wireless Access in Vehicular Environment
WSN
Wireless Sensor Network
PART ICRYPTOCURRENCIES AND BLOCKCHAIN TECHNOLOGY
CHAPTER 1BLOCKCHAIN: A NEW ERA OF TECHNOLOGY
Gururaj H L,∗ Manoj Athreya A, Ashwin A Kumar, Abhishek M Holla, Nagarajath S M, Ravi Kumar V
Vidyavardhaka College of Engineering, Mysuru, India
AbstractAs the whole world is moving towards digital payments, ethers and transaction methods with quick payment, information is stored in a blockchain in a distributed network. The distributed network is a network system through which data, software and computer programming are spread across more than one node (computers) and these nodes are dependent on each other. It is nothing but a peer-to-peer network which eliminates a single point of failure. The blockchain is a growing list of records called blocks that are linked using cryptography. It is a decentralized, distributed and immutable ledger to store digital transactions. Its databases are managed using a peer-to-peer network where all the nodes in a network are equal and are the major concern in the types of network architecture. The consensus protocol is used for transacting and communicating between the nodes. In this chapter, an approach for storing data in a blockchain is investigated and reported whereby the record is kept safe and secure, preventing it from being manipulated by others. With the help of the above blockchain technology we are able to achieve data that is secure from manipulators.
Keywords: Blockchain, inter-planetary file system, Ethereum, Web 3.0, consensus protocol, mining, distributed P2P network, Ethereum transaction, SHA-256 algorithm, decentralized application
Blockchain is one of the booming words in the field of computer technology, which has the power to change the lives of people as the Internet did in the past twenty years. Blockchain is ready to make a big impact on the lives of people if we adhere to this technology. It is a fundamental and parallel part to the Internet and not just a use case like emails, e-commerce, etc. When people hear the term blockchain many come to a conclusion that it deals mainly with cryptocurrency and Bitcoin but it is not all about that. The cryptocurrency and Bitcoin can be compared to email where the backbone technology behind it is the internet. As such, blockchain is a technology. Blockchain can be broadly described as a digital form of the ledger where you can store whatever data you want and then later access it through the hash value you received. It’s just like the acknowledgment number you get when you produce some documents. Consider a scenario where some person x needs to send money to person y who lives in a different country; it takes at least 5-6 working days to transfer the money because we have middle parties like banks which require time to process it. When it comes to blockchain we have an immutable universal ledger where it stores transaction details of all the individuals in a block. When a transaction is made it adds a new block into the existing set of blocks in the system which is authenticated by everyone. When it comes to security it uses the best cryptographic algorithms and is difficult to hack. It uses the SHA-256 algorithm to keep the hash value secured. When a hacker tries to hack a blockchain system, first of all, he needs computation power of more than 50% of the supercomputer in the word and he also needs to change all the blocks because they are cryptographically linked to each other; moreover, the blocks reside in a distributed node and every time it checks with other nodes to see whether they possess the same details which are based on the consensus protocol. As it is a collection of chained blocks you can trace back to the transactions that have occurred by going back block by block. They also have originated smart contracts which are the logic built into most blockchains, where when an event happens it triggers another event. Finally, all the blocks are not owned by anyone like a bank or any trusted authority. The blockchain is owned by all of us and to maintain it we need resources, electricity, computing power, time, money, etc. So for the people who maintained all these resources, in 2008 Satoshi Nakamoto introduced the concept of Bitcoins to give them as incentives, and the persons who looked after the blockchain mined it and hence they were called miners. In this blockchain the word TRUST plays an important role. Consider an example of a party where ten people put in a thousand rupees each and draw one name from the box; this lucky person will get the entire amount. Here, it is the trust between all ten people which works like a blockchain and brings the trust from a centralized to decentralized platform.
The blockchain works on the following four major features:
Consensus
Security
Provenance
Trust
The countries which use this technology are Japan, Canada, Dubai, Estonia and many more. Dubai is transforming itself as the world’s first blockchain-powered government. Estonia is being called Ethereum Island. When it comes to India we have certain blockchain information such as:
State Bank of India partnered with BankChain and Intel to develop blockchain solutions.
West Bengal and Andhra Pradesh is transitioning to using blockchain software for solving land property issues.
The Centre for Development of Advanced Computing (C-DAC) Hyderabad is working on blockchain projects.
Blockchain patents are claimed by the Indians and many more.
Some of the recent blockchain technology being hyped in the current industry are as follows:
Google is bringing blockchain technology to its cloud services.
Facebook has plans for blockchain-based authentication.
Microsoft Azure allows the development, testing, and deployment of secure blockchain apps.
IBM is now delivering blockchain service around the world.
Walmart has partnered with IBM to create a blockchain for tracking food globally through its supply chain.
Mastercard has started to build their own blockchain-based payment gateways.
Huawei’s blockchain technology offers mobile carriers superb opportunities to subscribers.
Figure 1.1 shows the different sectors in which blockchain technology is being used.
Figure 1.1 Sectors of blockchain.
Blockchain is making its way into many sectors like agriculture, power production, education, banking, voting and many more. Consider the example of power production where if you have solar panels installed in your home and if you produce electricity, the excess can be sent to others and in turn you get money through Blockchain; and where we can have the IoT also being used with it. Basically, blockchain comes into the picture when you can prevent data hoaxes and establish trust in the distributed network. The internet has solved many more problems like information searches (Google, Yahoo), distribution (YouTube, Amazon Prime, Netflix) and communication (email, chat applications) but it has not solved two major problems, which are trust and intermediation. On the internet, we find fake news and fake profiles which are not to be trusted; and in intermediaries, the big companies like Google, Amazon, Facebook, etc., have acquired the market and are not open to all, which means there is a middleman between producer and consumer. But with the advent of Blockchain, we can solve all these problems and bring back a trusted environment.
1.1 Introduction to Web 3.0
With the web entering a new phase of evolution, Web 3.0 is lined up to be the next big thing marking a fundamental change in how developers create websites and how people interact with those websites. Internet experts claim that these changes will make the internet smarter, thereby making our lives easier [2].
1.1.1 Web 1.0
This is referred to as the first generation of the web, invented by Tim Berners-Lee. It is often referred to as the read-only web as few people created content for the rest of the customers. Commonly used technologies are HTTP, XHTML, HTML, CSS, etc. It supports both server-side scripting (like JSP, PHP, etc.) and client-side scripting (JavaScript, VBScript, etc.) [3].
Web 1.0 has a lot of vulnerabilities, some of them are:
It is extremely slow.
Each time new content is pushed onto the webpage, it needs to be refreshed.
It doesn’t support two-way communication as it can be initiated only by the client (HTTP).
1.1.2 Web 2.0
This is also referred to as the read-write web as the users can interact with websites that have predetermined behaviors according to the inputs. With the emergence of blogs in the 20th century, widgets and other instant and universal authorizing tools and sites are always ready to accept the content. These have played a substantial role in the democratization of the web. Commonly used technologies are Ajax, DOM, REST, etc. [6].
Web 2.0 has a lot of vulnerabilities, some of them are:
SQL Injection
Information Leakage
Cross-Site Request Forgery
Authentication and Authorization Flaws
Cross-Site Scripting
1.1.3 Web 3.0
This term was coined by the reporter John Markoff of The New York Times in 2006. It allows online applications to receive information from the web and provide new information (results) to the users [4].
Web 3.0 is made up of these 4 basic properties:
Semantic Web
: This deals with the meaning or the emotion conveyed by the data.
3D graphics
: This is being used to provide a realistic feel to the websites.
Universal
: This will allow accessing the content/service on the web from anywhere.
Artificial intelligence
: This will allow websites to filter and present users the best data possible.
