Consensus Algorithms of Distributed Ledger Technology -- A Comprehensive Analysis

The most essential component of every Distributed Ledger Technology (DLT) is the Consensus Algorithm (CA), which enables users to reach a consensus in a decentralized and distributed manner. Numerous CA exist, but their viability for particular applications varies, making their trade-offs a crucial factor to consider when implementing DLT in a specific field. This article provided a comprehensive analysis of the various consensus algorithms used in distributed ledger technologies (DLT) and blockchain networks. We cover an extensive array of thirty consensus algorithms. Eleven attributes including hardware requirements, pre-trust level, tolerance level, and more, were used to generate a series of comparison tables evaluating these consensus algorithms. In addition, we discuss DLT classifications, the categories of certain consensus algorithms, and provide examples of authentication-focused and data-storage-focused DLTs. In addition, we analyze the pros and cons of particular consensus algorithms, such as Nominated Proof of Stake (NPoS), Bonded Proof of Stake (BPoS), and Avalanche. In conclusion, we discuss the applicability of these consensus algorithms to various Cyber Physical System (CPS) use cases, including supply chain management, intelligent transportation systems, and smart healthcare.Comment: 50 pages, 20 figure

The Foundation of Distributed Ledger Technology for Supply Chain Management

Distributed ledger technology (DLT) appears to be one of the most promising technologies in the field of supply chain management (SCM). However, as the technology is still evolving, only limited empirical evidence has been analyzed, managers and scientific scholars alike seek to understand how DLT can help improving SCM. This study aims to shed light into the current DLT applications in SCM to identify the foundation of the technology for SCM and uncover what DLT brings to the table. It develops seven foundational characteristics of DLT in SCM that describe both the nature of DLT and its characteristics for SCM. The study reveals that DLTs are interorganizational information systems that are diverse in their realizations and enable modular platform ecosystems. Nowadays application in SCM build on steady data availability, selective transparency, high authenticity and a source of mutual trust

Distributed Ledger Technology: Applications and its Convergence in Industrial Revolution 4.0

Distributed ledger technology (DLT) has garnered a tremendous amount of attention in recent years due to the popularity of blockchain-related cryptocurrencies. However, layperson will have difficulty cutting through the hype and being objective enough to evaluate the benefits and shortcomings of this technology. This study attempts to provide answer to the following questions: 1) what is DLT, and the difference of its two popular specializations: blockchain and directed acyclic graph (DAG)? 2) how far have the society achieved through DLT applications in the field of healthcare, identity management as well as copyright and intellectual property? 3) how does the general public view the convergence of DLT applications in Industrial Revolution 4.0? Through rightly education and understanding of DLT, the society will value the technology better of its application in different sectors

Enabling interoperable distributed ledger technology with legacy platforms for enterprise digitalization

Presently to achieve enterprise digitalization technologies such as Distributed Ledger Technologies (DLT) has now been deployed to support digital services provided by enterprises. But several challenges in DLTs remain to be addressed, including the interoperability, standardization, and integration. Therefore, this study provides theoretical and practical understanding of DLT interoperability and identified the factors that influence the interoperability of DLTs. Also, an architecture is designed to shows how interoperability can be achieved in DLTs and legacy systems supported by Application Programming Interface (API). A case study is presented to illustrate the applicability of the architecture to support a digital energy marketplace.acceptedVersio

Veritaa: A distributed public key infrastructure with signature store

Today, the integrity and authenticity of digital documents and data are often hard to verify. Existing public key infrastructures (PKIs) are capable of certifying digital identities but do not provide solutions to store signatures immutably, and the process of certification is often not transparent. We propose Veritaa, a distributed public key infrastructure with an integrated signature store (DPKISS). The central part of Veritaa is the Graph of Trust that manages identity claims and singed declarations between identity claims and document identifiers. An application-specific distributed ledger is used to store the transactions that form the Graph of Trust immutably. For the distributed certification of identity claims, a reputation system based on signed trust declarations and domain vetting is used. In this work, we have designed and implemented the proposed architecture of Veritaa, created a testbed, and performed several experiments. The experiments show the benefits and the high performance of Veritaa

On M2M Micropayments : A Case Study of Electric Autonomous Vehicles

The proliferation of electric vehicles has spurred the research interest in technologies associated with it, for instance, batteries, and charging mechanisms. Moreover, the recent advancements in autonomous cars also encourage the enabling technologies to integrate and provide holistic applications. To this end, one key requirement for electric vehicles is to have an efficient, secure, and scalable infrastructure and framework for charging, billing, and auditing. However, the current manual charging systems for EVs may not be applicable to the autonomous cars that demand new, automatic, secure, efficient, and scalable billing and auditing mechanism. Owing to the distributed systems such as blockchain technology, in this paper, we propose a new charging and billing mechanism for electric vehicles that charge their batteries in a charging-on-the-move fashion. To meet the requirements of billing in electric vehicles, we leverage distributed ledger technology (DLT), a distributed peer-to-peer technology for micro-transactions. Our proof-of-concept implementation of the billing framework demonstrates the feasibility of such system in electric vehicles. It is also worth noting that the solution can easily be extended to the electric autonomous cars (EACs)