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This Week in Blockchain Research Issue #114
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Paper of the Week:
Paper Title: Blockchain Oracle Design Patterns.
Blockchain is a form of distributed ledger technology (DLT) where data is shared among users connected over the internet. Transactions are data state changes on the blockchain that are permanently recorded in a secure and transparent way without the need of a third party.
Besides, the introduction of smart contracts to the blockchain has added programmability to the blockchain and revolutionized the software ecosystem leading toward decentralized applications (DApps) attracting businesses and organizations to employ this technology.
Although promising, blockchains and smart contracts have no access to the external systems (i.e., off-chain) where real-world data and events resides; consequently, the usability of smart contracts in terms of performance and programmability would be limited to the on-chain data.
Hence, blockchain oracles are introduced to mitigate the issue and are defined as trusted third-party services that send and verify the external information (i.e., feedback) and submit it to smart contracts for triggering state changes in the blockchain.
This paper studies and analyzes blockchain oracles with regard to how they provide feedback to the blockchain and smart contracts.
It classifies the blockchain oracle techniques into two major groups such as voting-based strategies and reputation-based ones.
The former mainly relies on participants’ stakes for outcome finalization while the latter considers reputation in conjunction with authenticity proof mechanisms for data correctness and integrity.
Then it provides a structured description of patterns in detail for each classification and discuss research directions in the end.
Summary: This paper introduces a protocol based upon multiparty computation that allows for the creation of API keys and security policies that can be applied to any existing decentralized exchange.
Affiliations: * Nash Exchange.
Summary: A middleware system running on top of an operational Ethereum network to enable secure batching of smart-contract invocations against an untrusted relay server off-chain.
Affiliations: * Syracuse University, † Hong Kong Polytechnic University, and ‡ University of Electronic Science and Technology of China Chengdu.
3. Paper Title: Flash Crash for Cash: Cyber Threats in Decentralized Finance.
Summary: The first overview of in-the-wild DeFi security incidents.
Authors: Kris Oosthoek*,
Affiliations: * Delft University of Technology.
Summary: Three authentication protocols such that the users can authenticate themselves in an anonymous P2P network, without revealing their identities.
Affiliations: * University of Peradeniya.
1. Paper Title: An Analysis of Transaction Handling in Bitcoin.
Summary: A predictability analysis intended to provide insights on transaction handling such as (i) transaction confirmation time, (ii) block attributes, and (iii) who has created the block.
Affiliations: * Norwegian University of Science and Technology.
1. Paper Title: Stochastic modelling of blockchain consensus.
Summary: By leveraging on random-walk theory, this work models block propagation delay on different network topologies and provides a classification of blockchain systems in terms of two emergent properties.
Authors: Claudio J. Tessone*†, Paolo Tasca‡, and Flavio Iannelli†,
Summary: The analysis of economic ideas behind issuing hybrid tokens that have features of both ICOs and STOs.
Authors: Anton Miglo*,
Affiliations: * University of Salford.
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