Novel Architecture to Create and Maintain Personal Blockchains

• URL: http://arxiv.org/abs/2212.14671v1
• Date: Mon, 12 Dec 2022 02:05:59 GMT
• Title: Novel Architecture to Create and Maintain Personal Blockchains
• Authors: Collin Connors and Dilip Sarkar
• Abstract summary: We outline a potential blockchain use case for tracking financial transactions across multiple financial institutions. We show the downsides of traditional centralized approaches and that blockchain approaches fail to give all the privacy and accessibility required for this use case. This novel architecture combines the ease of use of public blockchains with the privacy of private blockchains by allowing users to create personal blockchains.
• Score: 0.685316573653194
• License: http://creativecommons.org/licenses/by/4.0/
• Abstract: Blockchain has been touted as a revolutionary technology. However, despite the excitement, blockchain has not been adopted in many fields. Many are hesitant to adopt blockchain technology due to privacy concerns, barriers to use, or lack of practical use cases. In this work, we outline a potential blockchain use case for tracking financial transactions across multiple financial institutions. We show the downsides of traditional centralized approaches and that blockchain approaches fail to give all the privacy and accessibility required for this use case. Thus we propose a novel blockchain architecture to support our use case. This novel architecture combines the ease of use of public blockchains with the privacy of private blockchains by allowing users to create personal blockchains. We believe this novel personal blockchain architecture will lead to more blockchain adoption, particularly in use cases handling private data.

Related papers

• BlockFound: Customized blockchain foundation model for anomaly detection [47.04595143348698]
  BlockFound is a customized foundation model for anomaly blockchain transaction detection. We introduce a series of customized designs to model the unique data structure of blockchain transactions. BlockFound is the only method that successfully detects anomalous transactions on Solana with high accuracy.
  arXiv  Detail & Related papers  (2024-10-05T05:11:34Z)
• Towards the Blockchain Massive Adoption with Permissionless Storage [0.0]
  In my thesis, new approaches are applied to solve the issues above. The key contribution is the discovery of the useful PoW. Based on this theory, a permissionless storage network is proposed as the new security engine for the blockchain.
  arXiv  Detail & Related papers  (2024-07-25T04:28:52Z)
• The Latency Price of Threshold Cryptosystem in Blockchains [52.359230560289745]
  We study the interplay between threshold cryptography and a class of blockchains that use Byzantine-fault tolerant (BFT) consensus protocols. Existing approaches for threshold cryptosystems introduce a latency overhead of at least one message delay for running the threshold cryptographic protocol. We propose a mechanism to eliminate this overhead for blockchain-native threshold cryptosystems with tight thresholds.
  arXiv  Detail & Related papers  (2024-07-16T20:53:04Z)
• Enhancing Trust and Privacy in Distributed Networks: A Comprehensive Survey on Blockchain-based Federated Learning [51.13534069758711]
  Decentralized approaches like blockchain offer a compelling solution by implementing a consensus mechanism among multiple entities. Federated Learning (FL) enables participants to collaboratively train models while safeguarding data privacy. This paper investigates the synergy between blockchain's security features and FL's privacy-preserving model training capabilities.
  arXiv  Detail & Related papers  (2024-03-28T07:08:26Z)
• Generative AI-enabled Blockchain Networks: Fundamentals, Applications, and Case Study [73.87110604150315]
  Generative Artificial Intelligence (GAI) has emerged as a promising solution to address challenges of blockchain technology. In this paper, we first introduce GAI techniques, outline their applications, and discuss existing solutions for integrating GAI into blockchains.
  arXiv  Detail & Related papers  (2024-01-28T10:46:17Z)
• BlockChain I/O: Enabling Cross-Chain Commerce [2.391161450948918]
  We present BlockChain I/O, a framework for cross-chain commerce. We show how to use BlockChain I/O to implement a cross-chain marketplace. We also discuss how its desirable properties continue to hold in the end-to-end system.
  arXiv  Detail & Related papers  (2023-08-04T06:51:50Z)
• PBL: System for Creating and Maintaining Personal Blockchain Ledgers [3.5897534810405403]
  This work presents a novel architecture for creating and maintaining personal blockchain ledgers. Our system utilizes independent modular services, enabling individuals to securely store their data in a personal blockchain ledger. Using rigorous mathematical methods, we prove that our system produces append-only, immutable, tamper-evident, tamper-resistant ledgers.
  arXiv  Detail & Related papers  (2023-05-08T14:17:27Z)
• Analysis of Arbitrary Content on Blockchain-Based Systems using BigQuery [0.0]
  We develop and apply a cloud-based approach for quickly discovering and classifying content on public blockchains. Our method can be adapted to different blockchain systems and offers insights into content-related usage patterns and potential cases of abuse. To the best of our knowledge, the presented study is the first to systematically analyze non-financial content stored on the blockchain.
  arXiv  Detail & Related papers  (2022-03-17T15:12:38Z)
• Quantum-resistance in blockchain networks [46.63333997460008]
  This paper describes the work carried out by the Inter-American Development Bank, the IDB Lab, LACChain, Quantum Computing (CQC), and Tecnologico de Monterrey to identify and eliminate quantum threats in blockchain networks. The advent of quantum computing threatens internet protocols and blockchain networks because they utilize non-quantum resistant cryptographic algorithms.
  arXiv  Detail & Related papers  (2021-06-11T23:39:25Z)
• Selective Deletion in a Blockchain [0.0]
  We present the first concept for the selective deletion of single entries in a blockchain. The general consensus algorithm is extended by the functionality of regularly creating summary blocks. With a shifting marker of the Genesis Block, data can be deleted from the beginning of a blockchain.
  arXiv  Detail & Related papers  (2021-01-14T08:06:37Z)
• Quantum Multi-Solution Bernoulli Search with Applications to Bitcoin's Post-Quantum Security [67.06003361150228]
  A proof of work (PoW) is an important cryptographic construct enabling a party to convince others that they invested some effort in solving a computational task. In this work, we examine the hardness of finding such chain of PoWs against quantum strategies. We prove that the chain of PoWs problem reduces to a problem we call multi-solution Bernoulli search, for which we establish its quantum query complexity.
  arXiv  Detail & Related papers  (2020-12-30T18:03:56Z)

This list is automatically generated from the titles and abstracts of the papers in this site.

This site does not guarantee the quality of this site (including all information) and is not responsible for any consequences.