Improvement of Market Economy Management Measures for Innovative Enterprises under Block Chain Technology

In order to solve the financing difficulties of innovative Small and Medium Enterprise (SMEs) in the financial and economic field, this research proposes a market economy management measure for innovative enterprises, namely the enterprise credit information sharing model based on block chain technology. Firstly, the problems existing in the sharing model based on block chain technology are analyzed, and the basic model framework of block chain is adopted to improve the sharing model. Secondly, according to the improved Practical Byzantine Fault Tolerance (PBFT) consensus mechanism, the simulation experiment design of the credit information sharing model of enterprise market economy management measures is carried out. Finally, the improved sharing model proposed in this research is evaluated in terms of fault tolerance and throughput. The results show that the improved market economy management measures based on block chain technology in this research can meet certain fault tolerance rate, and the throughput is relatively stable. To some extent, it can meet the needs of credit information trading and sharing, and solve the difficulties of enterprise information sharing and low efficiency of data exchange

Enhanced PBFT Blockchain based on a Combination of Ripple and PBFT (R-PBFT) to Cryptospatial Coordinate

In this research, we introduce the combination of two Blockchain methods. Ripple Protocol Consensus Algorithm (RPCA) and Practical Byzantine Fault Tolerance (PBFT) are applied to cryptospatial coordinates to support cultural heritage tourism. The PBFT process is still used until the preparation process to ensure a maximum error of 33%, and every node would add a new chain in all nodes, so PBFT has a slower processing speed than other methods. This research cuts the PBFT process. After the preparation process in PBFT, the data was entered into the RPCA node and was calculated using an equation to minimize errors with a maximum limit of 20%. After this process, the was were sent to the commit process to store the data in all connected nodes in the Blockchain network; we call this combination of two methods R-PBFT. Combining the two methods can enhance data processing security and speed because it still uses the PBFT work combined with the speed of RPCA. Furthermore, this method uses a fault tolerance value from the RPCA of 20% to enhance data processing security and speed

A Consensus Algorithm Based on Risk Assessment Model for Permissioned Blockchain

Blockchain technology enables stakeholders to conduct trusted data sharing and exchange without a trusted centralized institution. These features make blockchain applications attractive to enhance trustworthiness in very different contexts. Due to unique design concepts and outstanding performance, blockchain has become a popular research topic in industry and academia in recent years. Every participant is anonymous in a permissionless blockchain represented by cryptocurrency applications such as Bitcoin. In this situation, some special incentive mechanisms are applied to permissionless blockchain, such as mined native cryptocurrency to solve the trust issues of permissionless blockchain. In many use cases, permissionless blockchain has bottlenecks in transaction throughput performance, which restricts further application in the real world. A permissioned blockchain can reach a consensus among a group of entities that do not establish an entire trust relationship. Unlike permissionless blockchains, the participants must be identified in permissioned blockchains. By relying on the traditional crash fault-tolerant consensus protocols, permissioned blockchains can achieve high transaction throughput and low latency without sacrificing security. However, how to balance the security and consensus efficiency is still the issue that needs to be solved urgently in permissioned blockchains. As the core module of blockchain technology, the consensus algorithm plays a vital role in the performance of the blockchain system. Thus, this paper proposes a new consensus algorithm for permissioned blockchain, the Risk Assessment-based Consensus protocol (RAC), combined with the decentralized design concept and the risk-node assessment mechanism to address the unbalance issues of performance in speed, scalability, and security.Comment: 32 pages, 11 figure

A Survey on Consortium Blockchain Consensus Mechanisms

Blockchain is a distributed ledger that is decentralized, immutable, and transparent, which maintains a continuously growing list of transaction records ordered into blocks. As the core of blockchain, the consensus algorithm is an agreement to validate the correctness of blockchain transactions. For example, Bitcoin is a public blockchain where each node in Bitcoin uses the Proof of Work (PoW) algorithm to reach a consensus by competing to solve a puzzle. Unlike a public blockchain, a consortium blockchain is an enterprise-level blockchain that does not contend with the issues of creating a resource-saving global consensus protocol. This paper highilights several state-of-the art solutions in consensus algorithms for enterprise blockchain. For example, the HyperLedger by Linux Foundation includes implementing Practical Byzantine Fault Tolerance (PBFT) as the consensus algorithm. PBFT can tolerate a range of malicious nodes and reach consensus with quadratic complexity. Another consensus algorithm, HotStuff, implemented by Facebook Libra project, has achieved linear complexity of the authenticator. This paper presents the operational mechanisms of these and other consensus protocols, and analyzes and compares their advantages and drawbacks.Comment: under submissio

Evaluating Byzantine-Based Blockchain Consensus Algorithms for Sarawak’s Digitalized Pepper Value Chain

A chosen network structure of Practical Byzantine Fault Tolerance (PBFT), a Byzantine-based consensus algorithm, is proposed to minimize some of the identified pain points faced by the pepper stakeholders. Byzantine-based consensus algorithms are used to achieve the same agreement on a single data value, including transactions and block state, and to maintain system continuity even when several nodes have failed to respond or transmit inconsistent messages in the blockchain network

On security and privacy of consensus-based protocols in blockchain and smart grid

In recent times, distributed consensus protocols have received widespread attention in the area of blockchain and smart grid. Consensus algorithms aim to solve an agreement problem among a set of nodes in a distributed environment. Participants in a blockchain use consensus algorithms to agree on data blocks containing an ordered set of transactions. Similarly, agents in the smart grid employ consensus to agree on specific values (e.g., energy output, market-clearing price, control parameters) in distributed energy management protocols. This thesis focuses on the security and privacy aspects of a few popular consensus-based protocols in blockchain and smart grid. In the blockchain area, we analyze the consensus protocol of one of the most popular payment systems: Ripple. We show how the parameters chosen by the Ripple designers do not prevent the occurrence of forks in the system. Furthermore, we provide the conditions to prevent any fork in the Ripple network. In the smart grid area, we discuss the privacy issues in the Economic Dispatch (ED) optimization problem and some of its recent solutions using distributed consensus-based approaches. We analyze two state of the art consensus-based ED protocols from Yang et al. (2013) and Binetti et al. (2014). We show how these protocols leak private information about the participants. We propose privacy-preserving versions of these consensus-based ED protocols. In some cases, we also improve upon the communication cost

When energy trading meets blockchain in electrical power system: The state of the art

With the rapid growth of renewable energy resources, energy trading has been shifting from the centralized manner to distributed manner. Blockchain, as a distributed public ledger technology, has been widely adopted in the design of new energy trading schemes. However, there are many challenging issues in blockchain-based energy trading, e.g., low efficiency, high transaction cost, and security and privacy issues. To tackle these challenges, many solutions have been proposed. In this survey, the blockchain-based energy trading in the electrical power system is thoroughly investigated. Firstly, the challenges in blockchain-based energy trading are identified and summarized. Then, the existing energy trading schemes are studied and classified into three categories based on their main focuses: energy transaction, consensus mechanism, and system optimization. Blockchain-based energy trading has been a popular research topic, new blockchain architectures, models and products are continually emerging to overcome the limitations of existing solutions, forming a virtuous circle. The internal combination of different blockchain types and the combination of blockchain with other technologies improve the blockchain-based energy trading system to better satisfy the practical requirements of modern power systems. However, there are still some problems to be solved, for example, the lack of regulatory system, environmental challenges and so on. In the future, we will strive for a better optimized structure and establish a comprehensive security assessment model for blockchain-based energy trading system.This research was funded by Beijing Natural Science Foundation (grant number 4182060).Scopu

A Design of Electronic Medical Record System based on Permissioned Blockchain

Blockchain, due to its decentralized, verifiable, and security features, is increasingly used in more and more scenarios, but the original public chain cannot meet the needs of some enterprise or group financial scenarios or medical scenarios, and these more segmented special application scenarios have added many requirements for security, identity and role definition to the blockchain system, so people have launched a lot of research on permissioned blockchain. However, the Practical Byzantine Fault-Tolerant (PBFT) based permissioned chain is no longer able to meet the increasing demand of nodes in today's healthcare system due to the shortcomings such as high communication volume and poor scalability. In this thesis, we will explore the application of permissioned blockchain in medical scenario, and try to optimize the communication volume of PBFT by cascading network, optimize its communication complexity from O(n^2) to O(n), and add credit mechanism to reduce the probability of key nodes becoming Byzantine nodes. We also add a series of scalability mechanisms and new node verification addition and removal mechanisms to compensate for the disadvantage of non-dynamic number of nodes in the original PBFT