Selective transparency in distributed transaction processing

PhD ThesisObject-oriented programming languages provide a powerful interface for programmers to access the mechanisms necessary for reliable distributed computing. Using inheritance and polymorphism provided by the object model, it is possible to develop a hierarchy of classes to capture the semantics and inter-relationships of various levels of functionality required for distributed transaction processing. Using multiple inheritance, application developers can selectively apply transaction properties to suit the requirements of the application objects. In addition to the specific problems of (distributed) transaction processing in an environment of persistent objects, there is a need for a unified framework, or architecture in which to place this system. To be truly effective, not only the transaction manager, but the entire transaction support environment must be described, designed and implemented in terms of objects. This thesis presents an architecture for reliable distributed processing in which the management of persistence, provision of transaction properties (e.g., concurrency control), and organisation of support services (e.g., RPC) are all gathered into a unified design based on the object model.UK Science and Engineering Council: ESPRIT project

Issues in designing transport layer multicast facilities

Multicasting denotes a facility in a communications system for providing efficient delivery from a message's source to some well-defined set of locations using a single logical address. While modem network hardware supports multidestination delivery, first generation Transport Layer protocols (e.g., the DoD Transmission Control Protocol (TCP) (15) and ISO TP-4 (41)) did not anticipate the changes over the past decade in underlying network hardware, transmission speeds, and communication patterns that have enabled and driven the interest in reliable multicast. Much recent research has focused on integrating the underlying hardware multicast capability with the reliable services of Transport Layer protocols. Here, we explore the communication issues surrounding the design of such a reliable multicast mechanism. Approaches and solutions from the literature are discussed, and four experimental Transport Layer protocols that incorporate reliable multicast are examined

The Voluntary Reporting System's Ability to Provide Price Transparency in the Cash Market for Dressed Steers: Evidence from South Dakota

The informational value of USDA's former voluntary price reporting system is investigated for dressed-weight slaughter steers sold by South Dakota producers. The ability of the former system to promote price transparency in the cash market is evaluated using state-level mandatory price reporting data collected from September 1999 to April 2001. The empirical framework examines the informational value of public price reports according to the criteria established in the market integration literature. The empirical results indicate that in the South Dakota cash market for dressed weight steers, the voluntary price reporting system fostered price transparency, and thus contributed to the price discovery process. Empirical evidence is also presented suggesting that strategic price reporting by market participants to influence the voluntary price reporting system was not detected during the period covered in this study.cointegration, competitive spatial equilibrium, error correction model, mandatory price reporting, marketing integration, price transparency, slaughter cattle spot market, voluntary price reporting, Demand and Price Analysis,

The Evolution of Embedding Metadata in Blockchain Transactions

The use of blockchains is growing every day, and their utility has greatly expanded from sending and receiving crypto-coins to smart-contracts and decentralized autonomous organizations. Modern blockchains underpin a variety of applications: from designing a global identity to improving satellite connectivity. In our research we look at the ability of blockchains to store metadata in an increasing volume of transactions and with evolving focus of utilization. We further show that basic approaches to improving blockchain privacy also rely on embedding metadata. This paper identifies and classifies real-life blockchain transactions embedding metadata of a number of major protocols running essentially over the bitcoin blockchain. The empirical analysis here presents the evolution of metadata utilization in the recent years, and the discussion suggests steps towards preventing criminal use. Metadata are relevant to any blockchain, and our analysis considers primarily bitcoin as a case study. The paper concludes that simultaneously with both expanding legitimate utilization of embedded metadata and expanding blockchain functionality, the applied research on improving anonymity and security must also attempt to protect against blockchain abuse.Comment: 9 pages, 6 figures, 1 table, 2018 International Joint Conference on Neural Network

Discovering the best: Informational efficiency and liquidity of alternative trading mechanisms in experimental asset markets

This paper reports the results of 18 experimental asset markets with 262 subjects that explore the effects of liquidity and aggregation of information. The main focus lies on the comparison of different trading mechanisms of stock exchanges. Compared to most of financial markets experiments, reality is met by introducing long-living assets and integrating all subjects in a multi-period decision-making process. In accordance with the evidence from the empirical research in real financial markets, our results show that the continuous auction achieves the highest informational efficiency. Dealer markets do the worst; call markets (batch trading) reach an intermediate position. A comparable result is achieved regarding the liquidity of the trading mechanisms. For both success factors of real stock exchanges our results show a strong tendency that continuous trading outperforms the other market structures, at least in the framework of the present measurement and on the chosen abstraction level. This does not exclude for the practice to offer a combination with call markets in certain titles and at certain times, particularly, if the here met assumptions of an open market access and information symmetry between the investors do not apply in full extent. --Market Microstructure,Experimental Asset Markets,Market Efficiency,Informational Efficiency,Liquidity,Call Markets,Continuous Auction