Different blockchain protocols
Let's Talk! By: William Dawsey. Protocols are crucial components of Blockchain technologies that enable information to be shared automatically across cryptocurrency networks securely and reliably. In the field of computing, protocols are essentially rules that define how data is allowed to be transferred between different computer systems.
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Different blockchain protocols
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Content:
- Blockchain and Interoperability: key to mass adoption
- SoK: Layer-Two Blockchain Protocols
- 5 Key Blockchain Protocols You Need to Know
- Understanding Protocol Wars and What They Mean for Blockchain
- How to get blockchains to talk to each other
- On-Chain Governance
- Who is involved in the blockchain network?
- Find the right protocol
Blockchain and Interoperability: key to mass adoption
Please click on the link to register and connect you to the online PhD defense. Please note that the public part of the defense starts at 5. Bitcoin is the first digital currency without a trusted third party.
This revolutionary protocol inspired multiple alternative projects that aim to address its limitations such as scalability and privacy. This new area of research at the intersection of computer science and economics is often characterized by the term blockchain.
This thesis explores the security and privacy of blockchain systems. A cryptocurrency is based on a peer-to-peer network. Performance, resilience, and privacy of the P2P layer are important for the protocol as a whole. In Part 1, we study the P2P networks of Bitcoin and selected privacy-focused cryptocurrencies.
We introduce a new attack on privacy that allows an attacker to link transactions issued by the same node. We test the efficiency of the attack in real networks, successfully linking our own transactions. We provide a separate study of the privacy characteristics of mobile cryptocurrency wallets. We discover that very few wallets follow the best practices regarding their users' privacy.
The architecture of Bitcoin and similar cryptocurrencies emphasizes security but severely limits the transaction throughput. Off-chain protocols address this issue. Lightning performs transactions off-chain but allows for on-chain dispute resolution. This ensures low latency while inheriting most of Bitcoin's security guarantees.
We introduce a probing attack that allows to quickly discover user balances in the LN. We analyze the likelihood of various privacy attacks on the LN depending on a number of parameters.
We describe a limitation on the number of concurrent LN payments and quantify its effects on the transaction throughput. Bitcoin allows only a limited means to define how coins can be spent. Ethereum is a blockchain network with a focus on programmability. It allows writing programs in a Turing-complete language and permanently store them on-chain.
Such programs are called smart contracts and are usually written in a high-level language Solidity. Part 3 explores the security and privacy of smart contracts in Ethereum. We propose Findel — a Solidity-based declarative domain-specific language for financial contracts.
We classify the vulnerabilities in real-world Ethereum contracts. We present SmartCheck — a static analysis tool for bug detection in Solidity. We describe an Ethereum-based cryptographic protocol for more privacy-preserving regulation compliance. Documents officiels. Data Protection. Luxembourg Learning Centre. Centre de Langues. High Performance Computing. Accords interuniversitaires.
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SoK: Layer-Two Blockchain Protocols
First published in Inside Arbitration, Issue 5. Blockchain is seen by many as the most significant technological breakthrough since the advent of the internet. Digital currencies based on blockchain technology have monopolised many of the headlines, notably with the huge price volatility of Bitcoin in recent months. However, blockchain has far wider-reaching potential and new applications are capable of fundamentally disrupting business practices across many sectors. Indeed, blockchain could have a similarly disruptive and revolutionary effect as did the internet on the way that business is conducted across the globe, having the potential to radically improve efficiency and eliminate centralised trust dependency models.
5 Key Blockchain Protocols You Need to Know
As blockchains are being rolled out in an increasing number of pilot programs for everything from cross-border financial transactions to supply chain management, one persistent issue remains: a lack of scalability. As more computers join the peer-to-peer network, the efficiency of the whole system typically degrades. Scalability has already been identified as an issue with cryptocurrencies such as bitcoin and Ethereum's Ether. If a distributed ledger is to achieve adoption by financial technology FinTech companies and compete with payment networks hundreds of times faster, it must find a way to boost scalability and throughput and address latency problems. Enter " sharding. Sharding is one of several popular methods being explored by developers to increase transactional throughput. Simply stated, sharding is a way of partitioning to spread out the computational and storage workload across a peer-to-peer P2P network so that each node isn't responsible for processing the entire network's transactional load. Instead, each node only maintains information related to its partition, or shard. The information contained in a shard can still be shared among other nodes, which keeps the ledger decentralized and secure because everyone can still see all the ledger entries; they simply don't process and store all the information.
Understanding Protocol Wars and What They Mean for Blockchain
Blockchain boosters love to compare the technology to the early days of the internet. This piece first appeared in our twice-weekly newsletter, Chain Letter, which covers the world of blockchain and cryptocurrencies. As new blockchains and other distributed ledger systems proliferate, the result is kind of like a petri dish full of bacteria. Like then, he says, the key to moving things forward lies in figuring out how to make these individual systems work together.
How to get blockchains to talk to each other
As the market developed, we learned that investing in applications produced high returns whereas investing directly in protocol technologies generally produced low returns. This relationship between protocols and applications is reversed in the blockchain application stack. Value concentrates at the shared protocol layer and only a fraction of that value is distributed along at the applications layer. We see this very clearly in the two dominant blockchain networks, Bitcoin and Ethereum. I wrote about the shared data layer about a year ago.
On-Chain Governance
Blockchain technology can enhance the basic services that are essential in trade finance. At its core, blockchain relies on a decentralised, digitalised and distributed ledger model. By its nature, this is more robust and secure than the proprietary, centralised models which are currently used in the trade ecosystem. Blockchain technology creates a viable, decentralised record of transactions — the distributed ledger — which allows the substitution of a single master database. It keeps an immutable record of all transactions, back to the originating point of a transaction. This is also known as the provenance, which is essential in trade finance, allowing financial institutions to review all transaction steps and reduce the risk of fraud.
Who is involved in the blockchain network?
The Lightning Network LN is a rapidly growing second-layer payment protocol that works on top of Bitcoin to provide near-instantaneous transactions between two parties. With this practical guide, authors Andreas M. Antonopoulos, Olaoluwa Osuntokun, and Rene Pickhardt explain how this advancement will enable the next level of scale for Bitcoin, increasing speed and privacy while reducing fees. Ideal for developers, systems architects, investors, and entrepreneurs looking to gain a better understanding of LN, this book demonstrates why experts consider LN a critical solution to Bitcoin's scalability problem.
Find the right protocol
In the past 18 months since the beginning of , enterprise blockchain adoption has been progressing steadily. Companies and governments alike are all trying to use this technology to solve some of the most difficult problems in the world of transactions. Businesses and regulations have strong requirements on identities and permissioning, which tend to lead them towards a permissioned over a permissionless a. For these permissioned chains, three blockchain protocols have emerged as the top choices: Hyperledger Fabric , Enterprise Ethereum and R3 Corda. Both Fabric and Enterprise Ethereum are general purpose tools for any industry, while Corda is custom-designed for the financial industry.
A blockchain DLT technology is usually the beating heart of a multi-party system, critical to the new trust and privacy models being established. You can think of these a little like the core CRUD interfaces of a traditional database technology. They are the foundation actions that any developer needs to build a multi-party system, without necessarily being a blockchain specialist. For fully custom smart contract logic outside of these foundation constructs, FireFly provides a passthrough mechanism. This means your applications can use the FireFly API and reliable events for simple access to the blockchain technology, while interacting with rich on-chain logic. So application developers get REST APIs that still abstract away the mechanics of how transaction submission and events work in the low level RPC interfaces of the blockchain technologies.
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