Fig 6 - uploaded by Suman Ghimire
Content may be subject to copyright.
Source publication
Context in source publication
Similar publications
Most college celebrities may not be very familiar with blockchain, except maybe for a few people who follow the financial cycle of a cryptocurrency called Bitcoin. Blockchain is a security technology that can replace traditional academic transcripts and provide a new model for sharing scientific information. This makes blockchain a useful learning...
Blockchain technology has completely changed the area of cryptocurrency with a Peer-to-Peer system named Bitcoin. It can provide a distributed, transparent and highly confidential database by recording immutable transactions. Currently, the technique has obtained great research interest on other areas, including the Internet of vehicles (IoVs). In...
This report presents the outcomes of the first and largest research regarding the consumer use of Bitcoin and other cryptocurrencies for retail shopping and associated payments. What the research reveals includes the demographics of crypto-consumers, their current experiences, their perception of crypto-shopping, and the market-wise adoption of cry...
Debido al alto atractivo de las criptomonedas, los inversionistas y los investigadores han prestado mayor atención en la previsión de los precios de las criptomonedas. Con el desarrollo metodológico del Deep Learning, la previsión de las criptomonedas ha tenido mayor importancia en los últimos años. En este artículo, se evalúan cuatro modelos de De...
Adoption of Cryptocurrency has grown significantly over the time and becoming more
popular among young generation. People are calling it currency of new digital era. In this research
work we are reviewing the dominant Cryptocurrency systems and its underlying disruptive
Innovations and Technologies.
Keywords: Cryptocurrency, Blockchain, Digital Cur...
Citations
... Bitcoin serves as an illustration of this, as each block comprises the following necessary components: the block size, block header, transaction counter, and transactions [55]. A cryptographic hash technique is applied to the block header in order to create a block hash, which is used to guarantee the unique identification of every block in the [1], [53], [59]. The SHA256 hash algorithm is used in the instance of Bitcoin. ...
... The blockchain is extremely resistant to tampering since any attempt to change the content of a single block will result in an inconsistent chain. These characteristics offer a solid foundation for safe, decentralized data management systems [59]. ...
... To create new blocks for the blockchain, it uses the computational competition principle. In Proof of Work (PoW), miners perform calculations to yield a value, and the winner is the miner who is able to create a value that is less than the network's predetermined threshold [59], [60]. Proposals have been made for Proof of Weight, Proof of Reputation, Proof of Space, Proof of History, and Proof of Burn as variations of Proof of Work. ...
Verifying the authenticity of documents, whether digital or physical, is a complex and crucial challenge faced by a variety of entities, including governments, regulators, financial institutions, educational establishments, and healthcare services. Rapid advances in technology have facilitated the creation of falsified or fraudulent documents, calling into question the credibility and authenticity of academic records. Most existing blockchain-based verification methods and systems focus primarily on verifying the integrity of a document, paying less attention to examining the authenticity of the document’s actual content before it is validated and registered in the system, thus opening loopholes for clever forgeries or falsifications. This paper details the design and implementation of a proof-of-concept system that combines GPT-3.5’s natural language processing prowess with the Ethereum blockchain and the InterPlanetary File System (IPFS) for storing and verifying documents. It explains how a Large Language Model like GPT-3.5 extracts essential information from academic documents and encrypts it before storing it in the blockchain ensuring document integrity and authenticity. The system is tested for its efficiency in handling both digital and physical documents, demonstrating increased security and reliability in academic document verification.
... The previous block hash makes the blockchain data structure an ordered and back-linked immutable list of blocks. Difficulty and nonce are used by miners to compute a block hash when creating new blocks [32,62,83]. ...
Blockchain offers immutability, transparency, and security in a decentralised way for many applications, including finance, supply chain, and the Internet of Things (IoT). Due to its popularity and widespread adoption, it has started to process an enormous number of transactions, placing an ever-growing demand for storage. As the technology gains more popularity, the storage requirements of blockchain will increase, necessitating storage optimisation solutions. Proposed solutions for blockchain storage efficiency range from reducing the degree of data replication to redacting or compressing data. Each of these storage optimisation categories involves a complex interplay with the timing of blockchain data processing and mining, yet no existing survey analyses these dimensions. This paper surveys the state-of-the-art blockchain storage optimisations and categorises them into replication-based, redaction-based, and content-based optimisations. Replication-based optimisations focus on reducing duplication of blockchain data shared among participants after committing data on the blockchain ledger. Redaction-based optimisations allow users to modify or delete data already committed on the ledger in various ways, while content-based optimisations compress data before or after committing it to the ledger. We analyse and evaluate these solutions in the aspects of security, decentralisation and scalability. We present the advantages and disadvantages of the existing blockchain storage optimisations and comprehensively compare them. Additionally, we discuss the opportunities and challenges for future work to optimise blockchain storage.
... This typically involves fixed hardware 4 acquisition costs and variable operational costs during the attack 5 . The increasing popularity of hash rate markets, such as cloud mining, has made it possible to rent certain amounts of hash rate instead of owning and maintaining expensive hardware (Bhaskar et al., 2015;Ghimire et al., 2018;Khairuddin et al., 2019). ...
... Miners who contribute to the verification of transactions in the blockchai given incentives. The verification is achieved by continuously assigning nonce only used once) to a hash function, repeating the operation, and looking for a where the resulting hash is equal to or less than a given target value [25]. O'Dw Malone use the following equation to describe the task of finding the nonce [26] ( . ) < where represents the previous transaction, is the nonce value, is the ta . is the concatenation operator. ...
... Miners who contribute to the verification of transactions in the blockchain will be given incentives. The verification is achieved by continuously assigning nonce (number only used once) to a hash function, repeating the operation, and looking for a number where the resulting hash is equal to or less than a given target value [25]. O'Dwyer and Malone use the following equation to describe the task of finding the nonce [26]. ...
Bitcoin, the most valuable and energy-consuming cryptocurrency, has recently been at the center of a heated debate over its environmental impact. This controversy has caught the public’s attention, prompting us to investigate the energy consumption of Bitcoin. In this paper, we have conducted a review of the literature on various aspects of Bitcoin mining, including its mechanisms, energy consumption, mining sites, and the potential for renewable energy use. Our findings reveal that the power consumption of Bitcoin is bound to increase with the continued adoption of the proof-of-work (PoW) consensus algorithm. Nonetheless, the growing availability of affordable renewable energy sources worldwide brings hope that Bitcoin mining will shift towards cleaner energy in the near future.
... We can trace it back to the genesis block from any single block in a blockchain because it is linked to the prior block. Tampering with the blocks in a blockchain is impossible because fiddling with one block introduces mistakes in the next, and so on [3]. ...
Cryptocurrencies have become extremely popular as a form of payment in recent years. They are supported by blockchain, a cutting-edge advanced technology that makes extensive use of cryptographic mechanisms and other sophisticated distributed computing techniques. On these grounds, cryptocurrencies have been a target of several attacks. Cyber-attacks, for example, are exogenous events that can robustly affect cryptocurrencies by influencing their stabilization of price and market valuation. This study describes an overview of cybercriminals’ activities on cryptocurrencies. It provides a detailed discussion on the most popular types of attacks on the cryptocurrency ecosystem. Moreover, it provides possible countermeasures to these attacks. Finally, it produces insights into the most impactful attacks on cryptocurrencies and the best methods that have been proposed for detecting cryptocurrency attacks. The main goal of this survey is to obtain a thorough understanding of cryptocurrency attacks, which have been the subject of major studies concerning financial risks on cryptocurrency. A large number of existing publications have reviewed and assessed various forms of attacks to achieve this goal. However, these works have considerably flawed. To the best of our knowledge, the present survey sheds light on future research directions.
... From a technical standpoint, the primary innovation is the strategy for enforcing trust and security in a trustless environment [3]. The transactions issued by peers are aggregated by miners in blocks added to the blockchain through cryptographic hashes, making transaction modification practically impossible [4]. A pair of public-private keys are associated with a wallet and used by the peer node to generate secured transactions by signing them with the private key [5]. ...
Blockchain and tokens are relatively new research areas insufficiently explored from both technical and economic perspectives. Even though tokens provide benefits such as easier market access, increased liquidity, lower transaction costs, and automated transactional process, their valuation and price determination are still challenging due to factors such as a lack of intrinsic value, volatility, and regulation making trading risky. In this paper, we address this knowledge gap by reviewing the existing literature on token creation and valuation to identify and document the factors affecting their valuation, investment, and founding, as well as the most promising domains of applicability. The study follows the PRISMA methodology and uses the Web of Science database, defining clear research questions and objective inclusion criteria for the articles. We discuss token technical development, including creating, issuing, and managing tokens on an Ethereum blockchain using smart contracts. The study revealed several key factors that significantly impact the field of tokenomics: demand and supply, social incentives, market conditions, macroeconomics, collective behavior, speculation, and inclusion in index funds. The most relevant use cases of blockchain and tokens are related to the digitization of virtual and physical assets, accountability, and traceability usual in smart grids or supply chains management, social governance, and art and gamification including metaverse.
... Blockchain is a distributed ledger introduced in the famous 2008 White Paper [14] by the mysterious Satoshi Nakamoto (whose identity remains unknown) and which Nakamoto had aimed at founding the first cryptocurrency in world: Bitcoin. Thanks to this revolutionary technology, blockchain participants can transact with each other directly in a secure, immutable, and chronological manner without the need for any intermediary [15]. Blockchains are therefore nothing more than chains of digital information, distributed across multiple nodes located anywhere in the world. ...
... There is considerable literature about cryptocurrency, and researchers have published several surveys reviewing and exploring the topic from different perspectives and application areas. Those include reviews on cryptocurrency trading systems, 16 and mining systems, 17,18 reviews on specific modeling tasks concerning cryptocurrency transactions such as knowledge discovery 19 and cryptocurrency price prediction. [20][21][22] A few of these studies review the cryptocurrency price prediction models from the perspective of modeling paradigms. ...
This study aims to comprehensively review a recently emerging multidisciplinary area related to the application of deep learning methods in cryptocurrency research. We first review popular deep learning models employed in multiple financial application scenarios, including convolutional neural networks, recurrent neural networks, deep belief networks, and deep reinforcement learning. We also give an overview of cryptocurrencies by outlining the cryptocurrency history and discussing primary representative currencies. Based on the reviewed deep learning methods and cryptocurrencies, we conduct a literature review on deep learning methods in cryptocurrency research across various modeling tasks, including price prediction, portfolio construction, bubble analysis, abnormal trading, trading regulations and initial coin offering in cryptocurrency. Moreover, we discuss and evaluate the reviewed studies from perspectives of modeling approaches, empirical data, experiment results and specific innovations. Finally, we conclude this literature review by informing future research directions and foci for deep learning in cryptocurrency.
... The initial utilization of blockchain technology commenced with Bitcoin. Bitcoin, the pioneering blockchain, was introduced in 2008 by an anonymous individual or group using the pseudonym Satoshi Nakamoto [1]. Nakamoto delineated Bitcoin as a "P2P electronic cash system." ...
With the rise of digitalization and increased internet usage, digital certificates' security issues have gained significant importance. The utilization of counterfeit certificates can lead to deceptive identity and capability verifications, allowing untrustworthy individuals to assume misleading positions. Simultaneously, factors such as data leaks and technical glitches can jeopardize the security of certificates. These challenges can complicate talent verification processes and result in unsuitable individuals being placed in incorrect roles. The proposed work aims to thwart forged certificates and ensure their verifiability within this context. The methodology employed in the study strives to mitigate potential data loss or accessibility problems by adopting a decentralized storage structure. The primary objective is to establish certificates that are reliable, traceable, and capable of being verified. A rapid and efficient user interface was developed using React.js to achieve this aim. Smart contracts were scripted on the Ethereum blockchain using Solidity, and data, including user information and certificate details, were stored within components like MongoDB. In the phase of practical implementation, diverse scenarios have been designed to facilitate the generation, verification, and monitoring of certificates. The proposed approach is geared towards deterring forgery and enhancing the credibility of certificates. Through this system, users and organizations can authenticate certificates and prevent the proliferation of counterfeit ones. Furthermore, the enhanced security and ease of sharing certificates on digital platforms offer substantial advantages to certificate holders. In summary, this study strives to enhance the safeguarding and dependability of certificates by addressing the security concerns posed by the era of digitalization.
... In order for the mining process to take place and for the production of cryptocurrency, mining computers need to solve a very complex mathematical problem, which is why the excellent hardware features of the computers used to appear as an element that accelerates the process (Mohsin, 2021;Rüth et al., 2018). Over the years, the difficulty level of cryptocurrency mining has also increased (Ghimire & Selvaraj, 2018), and as time progresses, the need to update the devices used arises. However, there are also critical approaches from the sustainability perspective toward the high amount of energy consumed in cryptocurrency mining (Fadeyi et al., 2019;Goodkind et al., 2020;J. ...
Cryptocurrencies have met with a great deal of interest since they first appeared. It is not just because it is a new technology. At the same time, the fact that these instruments provide very high returns in specific periods has made them attractive as an investment tool. This research questioned whether there is a different message that individuals who buy cryptocurrencies want to give to their social environment under this behavior. In other words, this study aims to develop a scale to measure the tendency of individuals to buy cryptocurrencies for conspicuous reasons. In order to reach the goal, the quantitative method was preferred, and data were collected from 400 people. As a result, a valid and reliable scale consisting of fourteen items and three dimensions was obtained. This scale will likely be used by researchers who want to investigate the purchasing behavior of cryptocurrencies in more detail in different studies in the future.
