{"title":"Corrigendum: Tether: A Study on Bubble-Networks","authors":"G. Rosa, R. Pareschi","doi":"10.3389/fbloc.2021.842255","DOIUrl":"https://doi.org/10.3389/fbloc.2021.842255","url":null,"abstract":"In the original article, there were 2 errors. I) The term “Smalltalk” was erroneously used instead of “Smallworld” in the abstract; II) The term “small-talk”was erroneously used instead of “small-world” in the first paragraph of Section 6 Conclusion. Tether is a stablecoin, namely a cryptocurrency associated with an underlying security. Tether provides one of the most relevant ways to buy bitcoins and has been the centre of many controversies. In fact, it has been hypothesized that new tethers are issued without the underlying reserves, and that new massive Tether emissions are the basis of strong speculative movements on the Bitcoin, with consequent bubble effects. In the course of this article, we conduct a Social Network Analysis focused on the Tether transaction graph to identify the main actors that play a leading role on the network and characterize the transaction flow between them. From our analysis, we conclude that 1) the Tether transaction network does not enjoy the “Smallworld” property, with the robustness and reliability it carries with it; 2) cryptopcurrency exchanges are the nodes with the greatest centrality; 3) even Assortativity is not found, as the subjects who move Tether on a large scale do not give continuity to their presence and operations, therefore do not get a chance to consolidate stable links between them; and 4) among the exchanges, Bitfinex, which has co-ownership and co-administration relationships with the Tether issuer, can be mostly associated with the Rich-gets-Richer property. Summing up, the following indications can be drawn from our analysis of the Tether network: 1) this network (unlike that of Bitcoin) does not enjoy the “small-world” property with its characteristic traits of robustness and reliability; 2) the nodes with greater centrality are all exchanges, thus adding evidence to the hypothesis of the merely financial and supposedly speculative use of Tether; 3) on the other hand, this is not enough to create an effect of assortativity binding these nodes together, apparently due to the temporal transience of their role which bars the development of long-lasting relationships, since exchanges that are particularly active in a phase of heavy Tether traffic may be replaced at a later stage by other exchanges; 4) to these, however, Bitfinex is an exception, as it maintains a central role over times. These indications, taken together with the shareholding relationship between Bitfinex and the Tether issuer, are circumstantial elements in favor of a significant role played by Bitfinex in the maneuvers on the Tether that might influence the trend in Bitcoin prices. The authors apologize for this error and state that this does not change the scientific conclusions of the article in any way. The original article has been updated. Edited and reviewed by: Radoslaw Michalski, Wrocław University of Science and Technology, Poland","PeriodicalId":426570,"journal":{"name":"Frontiers in Blockchain","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127643777","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Community Currencies as Crisis Response: Results From a Randomized Control Trial in Kenya","authors":"Rebecca Mqamelo","doi":"10.3389/fbloc.2021.739751","DOIUrl":"https://doi.org/10.3389/fbloc.2021.739751","url":null,"abstract":"This paper presents the results of what may be the world’s first randomized control trial on community currencies, focusing on Grassroots Economics Community Inclusion Currency (CIC) model run on the xDAI blockchain. Beneficiaries in Nairobi, Kenya were sent the equivalent of $30 in cryptocurrency tokens, enabling a level of impact evaluation usually unfeasible for most cash and mobile-money based transfer programs. Results show that CIC transfers of $30 are associated with $93.51 increase in beneficiaries wallet balance, a $23.17 increase in monthly CIC income, a $16.30 increase in monthly CIC spending, a $6.31 increase in average trade size and a $28.43 increase in expenditure on food and water. However, the difference in treatment effects for males versus females suggests gender imbalances persist. This study serves as an important prototype for novel cash transfer models and presents some of the first quantitative evidence in the area of “crypto for good.”","PeriodicalId":426570,"journal":{"name":"Frontiers in Blockchain","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134293228","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Characterizing Wealth Inequality in Cryptocurrencies","authors":"Ashish Rajendra Sai, J. Buckley, AndrewJ. L. Gear","doi":"10.3389/fbloc.2021.730122","DOIUrl":"https://doi.org/10.3389/fbloc.2021.730122","url":null,"abstract":"Cryptocurrencies often tend to maintain a publically accessible ledger of all transactions. This open nature of the transactional ledger allows us to gain macroeconomic insight into the USD 1 Trillion crypto economy. In this paper, we explore the free market-based economy of eight major cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash, Dash, Litecoin, ZCash, Dogecoin, and Ethereum Classic. We specifically focus on the aspect of wealth distribution within these cryptocurrencies as understanding wealth concentration allows us to highlight potential information security implications associated with wealth concentration. We also draw a parallel between the crypto economies and real-world economies. To adequately address these two points, we devise a generic econometric analysis schema for cryptocurrencies. Through this schema, we report on two primary econometric measures: Gini value and Nakamoto Index which report on wealth inequality and 51% wealth concentration respectively. Our analysis reports that, despite the heavy emphasis on decentralization in cryptocurrencies, the wealth distribution remains in-line with the real-world economies, with the exception of Dash. We also report that 3 of the observed cryptocurrencies (Dogecoin, ZCash, and Ethereum Classic) violate the honest majority assumption with less than 100 participants controlling over 51% wealth in the ecosystem, potentially indicating a security threat. This suggests that the free-market fundamentalism doctrine may be inadequate in countering wealth inequality within a crypto-economic context: Algorithmically driven free-market implementation of these cryptocurrencies may eventually lead to wealth inequality similar to those observed in real-world economies.","PeriodicalId":426570,"journal":{"name":"Frontiers in Blockchain","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123870510","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Improving Halal Traceability Process in the Poultry Industry Utilizing Blockchain Technology: Use Case in Indonesia","authors":"Larissa P. Sidarto, Aditya Hamka","doi":"10.3389/fbloc.2021.612898","DOIUrl":"https://doi.org/10.3389/fbloc.2021.612898","url":null,"abstract":"Demand for Halal food has significantly increased with the growing Muslim population and society’s interest in sustainable food production. However, there has been an increase in concerns regarding the Halal food labeling transparency process, with misleading labels found across the world. Blockchain-based traceability systems are a potential solution for current limitations in monitoring the production process of food due to its inherent decentralization and immutable nature. The technology allows stakeholders, including consumers, to promote farm-to-fork transparency, where traceability is a core component. This paper will explore the blockchain-based traceability system use case implemented by the Indonesian poultry player PT Sreeya Sewu Indonesia Tbk. Utilizing a blockchain-based system as a foundation for traceability shows promising results: data throughout the process is recorded permanently and difficult to tamper. Although the system does not eliminate the possibility of incorrect information being recorded, the same immutability characteristics will keep the new knowledge of fraud permanent if found during the audit. This layer of accountability contributes to the transparency that benefits both the consumers and stakeholders of the value chain.","PeriodicalId":426570,"journal":{"name":"Frontiers in Blockchain","volume":"56 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116570179","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
M. Arenas, Thomas Reisenegger, Juan L. Reutter, D. Vrgoc
{"title":"Is it Possible to Verify if a Transaction is Spendable?","authors":"M. Arenas, Thomas Reisenegger, Juan L. Reutter, D. Vrgoc","doi":"10.3389/fbloc.2021.770503","DOIUrl":"https://doi.org/10.3389/fbloc.2021.770503","url":null,"abstract":"With the popularity of Bitcoin, there is a growing need to understand the functionality, security, and performance of various mechanisms that comprise it. In this paper, we analyze Bitcoin’s scripting language, Script, that is one of the main building blocks of Bitcoin transactions. We formally define the semantics of Script, and study the problem of determining whether a user-defined script is well-formed; that is, whether it can be unlocked, or whether it contains errors that would prevent this from happening.","PeriodicalId":426570,"journal":{"name":"Frontiers in Blockchain","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129752894","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Digital Image Encryption Using Double Crossover Approach for SARS-CoV-2 Infected Lungs in a Blockchain Framework","authors":"Bannishikha Banerjee, A. Jani, Niraj S. Shah","doi":"10.3389/fbloc.2021.771241","DOIUrl":"https://doi.org/10.3389/fbloc.2021.771241","url":null,"abstract":"As the (Covid-19) pandemic spreads, the creativity of the scientific community is thriving while trying to control the situation. They are trying to treat patients viably and work with the almost exhausted medical equipment and staff, while growing new, successful antibodies. Successful screening of SARS-CoV-2 empowers fast and proficient determination of COVID-19 and can relieve the weight on medical care frameworks. Numerous forecast models are being created to comprehend and prognosticate the spread of the pandemic and to stay away from the following wave. But in the coming time, we can be sure that the models would experience the ill effects of a few issues, security being one of them. All the models need to be built in such a way that the investigation task gets successfully conducted without compromising the privacy and security of the patients. To take care of this, we propose a blockchain framework for sharing patients’ personal data or medical reports. A blockchain will take care of the integrity part, but we still need to worry about confidentiality. Therefore, combining a genetic approach with a blockchain seemed like a good idea. A twofold hybrid methodology is proposed in this paper to tackle the issue of confidentiality. The outcomes displayed high entropy accomplishment for the utilized dataset. The sensitivity of the plaintext and ciphertext is also checked and compared with existing approaches which thus demonstrates the security of the proposed approach in the given setting.","PeriodicalId":426570,"journal":{"name":"Frontiers in Blockchain","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126470310","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Ulrich Gallersdörfer, Jan-Niklas Strugala, F. Matthes
{"title":"Efficient Onboarding and Management of Members in Permissioned Blockchain Networks Utilizing TLS Certificates","authors":"Ulrich Gallersdörfer, Jan-Niklas Strugala, F. Matthes","doi":"10.3389/fbloc.2021.739431","DOIUrl":"https://doi.org/10.3389/fbloc.2021.739431","url":null,"abstract":"Consortia blockchain networks face the issue of expanding their systems to new members. Onboarding processes are often cumbersome, as they require identifying the new participant, manually setting up rights, exchanging key material, and adding information about the new member to the consensus smart contract. Besides that, these processes are time-consuming and scale poorly. Identifying the members might be faulty as the pre-existing members might be deceived by malicious parties claiming to be someone else. This paper proposes a novel methodology to allow the onboarding of new parties without time-intensive off-chain processes. We establish identities of new consortia members by utilizing TLS certificates bound to publicly known domain names. With this identity scheme in place, the network operators can define rules such as only specific parties are allowed to join the network, e.g., only owners of *.edu domains. This methodology scales well, provides for extensive ruling and monitoring, and helps consortia blockchains to grow faster.","PeriodicalId":426570,"journal":{"name":"Frontiers in Blockchain","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121495692","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Asymmetric Confidentiality in Blockchain Embedded Smart Grids in Galois Field","authors":"Bannishikha Banerjee, A. Jani, Niraj Shah","doi":"10.3389/fbloc.2021.770074","DOIUrl":"https://doi.org/10.3389/fbloc.2021.770074","url":null,"abstract":"Economic growth requires a sharp increase in the utilization of energy. Since the initial mechanical era, financial development has been driven by industrialization, transportation, and, most important of all, electrification, majorly achieved by petroleum product ignition. This way of development has had malicious and abusive aftershocks on the environment since the beginning. Smart grids are an idea to slightly diminish the burden on our Mother Nature, but this idea is getting tainted by the anticipation of ferocious technophiles who may try to get the grid down using quantum computers in the coming years. Thus, security becomes one of the major concerns for the smart grid. In this paper, we propose a quantum-resistant framework for associating smart grids and blockchain embedded with a permutation-substitution-based public-key cryptosystem in Galois Field to prevent unauthorized access and perform encryption of the private information of the user and consumption statistics. Permutation and substitution are performed to increase the diffusion and confusion of the data. Expenditures are quantified from the dissipation particulars, and the payment of electricity bill is performed using our blockchain wallet. The prediction model of consumption data is generated availing stochastic gradient descent. The performance analysis of the proposed cryptosystem is predicted after a simulation of the smart grid.","PeriodicalId":426570,"journal":{"name":"Frontiers in Blockchain","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130647454","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Organizational Building Blocks for Blockchain Governance: A Survey of 241 Blockchain White Papers","authors":"P. Honkanen, Mats Nylund, M. Westerlund","doi":"10.3389/fbloc.2021.613115","DOIUrl":"https://doi.org/10.3389/fbloc.2021.613115","url":null,"abstract":"Governance for centralized organizational structures has long roots and well-developed frameworks, including for various specialty areas, such as IT or data governance. However, the introduction of blockchain technology as a supportive tool for implementing decentralized organizations requires a renewed focus for research in the area. The paper utilizes empirical data from blockchain ecosystems in the form of white papers (public communique of intention) to analyze their governance intentions. The empirical findings are based on a review of 241 blockchains and distributed ledger technology white papers, out of which 67 include explicit descriptions of how governance should be organized in the ecosystem. Our empirical research distinguishes between three categories of governance: objectives, mechanisms, and stakeholders. We further identify 28 features for these categories, which are described in an open encoding format. Hence, the paper contributes to the emerging blockchain research field, particularly to the decentralized aspects of blockchain governance research. This research also reveals that blockchain governance does not receive the attention it should as a large majority of ecosystems have not disclosed their governance intentions. The results can be utilized as a framework for future research. The results can also be helpful for industry when designing and developing governance systems.","PeriodicalId":426570,"journal":{"name":"Frontiers in Blockchain","volume":"62 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-11-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133979659","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Unfinished Paths—From Blockchain to Sustainability in Supply Chains","authors":"S. Köhler, Massimo Pizzol, J. Sarkis","doi":"10.3389/fbloc.2021.720347","DOIUrl":"https://doi.org/10.3389/fbloc.2021.720347","url":null,"abstract":"Blockchain technology has been promised as a solution to social and environmental issues in supply chains. The potential includes reduction of vulnerable party exploitation and avoiding environmentally harmful practices. Yet, it remains unclear how these potential improvements are created and whether blockchain can truly contribute. Therefore, this field study explores and identifies the mechanisms for blockchain technology to facilitate positive social and environmental impacts in supply chains. We applied an explorative qualitative research approach and interviewed blockchain technology implementers and practitioners that allowed a detailed analysis of this problem despite the scarcity of practice data. The results include the development of a middle-range theory that shows barriers and drivers of blockchain-based technologies in supply chains, introduces the concept of blockchain-enabled system, and outlines expected outcomes and impacts. We further identify four impact pathways that describe how blockchain-enabled system create positive impact: (voluntary) market mechanisms, plausibility checks, smart contracts and tokenisation, and peer-to-peer trust. The study contributes by providing insights into “how” blockchain-based technologies in supply chains can lead to social and environmental impacts. The study also furthers the discussion on blockchain technology’s role in supply chain implementation and addresses the yet unresolved problem of measuring the impact of such blockchain-enabled systems.","PeriodicalId":426570,"journal":{"name":"Frontiers in Blockchain","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-11-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127380100","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}