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... consensus algorithms are also proposed. Figure 3 depicts the generic architecture and categorization of consensus mechanisms in distributed systems. Apart from the general categorization of consensus algorithms in distributed environment, the categorization can be done with regard to blockchain. ...

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Blockchain being a leading technology in the 21st century is revolutionizing each sector of life. Services are being provided and upgraded using its salient features and fruitful characteristics. Businesses are being enhanced by using this technology. Countries are shifting towards digital currencies i.e., an initial application of blockchain appli...

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...  Trustworthiness ( 5 ( ) )  In BPs, trustworthiness denotes the trust in a system by users exploiting the network, participants, and external stakeholders collaborating with the network, but not directly involved in it [47]. Trustworthiness is contingent upon numerous factors constituting the network. ...
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Digital projects aspiring to reach target audiences are executed through decentralized and trustworthy blockchain platforms (BPs). Once the objectives and target audience of a digital project are defined, the selection of suitable BPs is undertaken. The primary objective of this research is to develop a decision support system that aids in the selection of BPs for transferring digital data and assets. Numerous quantitative parameters determine the performance of BPs, alongside qualitative parameters indicating their performance. In this study, the aim is to determine the performance of BPs based on both qualitative and quantitative parameters. Within this scope, a multi-criteria decision-making approach and interval-valued spherical fuzzy (IVSF) sets are adopted. IVSF sets are utilized to determine expert importance levels. The IVSF-criteria importance assessment (CIMAS) method is introduced for the weighting of criteria. IVSF-CIMAS enables the determination of reliability levels in calculating criterion weights. The IVSF-simple weighted sum product (WISP) method is formulated to obtain the performance ranking of BPs. Thus, in this research, the IVSF-CIMAS-WISP hybrid model is developed, and an algorithm for this novel decision-analytic model is presented. A case study is developed focusing on BP selection for a digital project to demonstrate the applicability of the proposed hybrid model. The robustness of IVSF-CIMAS-WISP is tested through extensive sensitivity analysis scenarios. According to the research results, the applicability of the IVSF-CIMAS-WISP hybrid method is supported and its robustness is confirmed. The research findings provide numerous insights for project managers and practitioners.
... Nevertheless, in a distributed network such as blockchain, partial trust between peers exists, and consensus protocols are established to agree on a single copy of the ledger, whereas, in the case of the participation of multiple nodes, there must be agreement on a standard value [118,141]. Distribution, immutability, and decentralization are the fundamental principles of blockchain, enhancing fault tolerance due to the participants' contribution to the system [142]. Also, fundamental features (characteristics) of blockchain, such as transparency, tamper-proofing, and security, make it a high-potential and innovative technology, capable of being combined with other emerging technologies [143]. ...
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... It is noteworthy that IDS operates as an architecture, not a platform, enabling seamless integration with other systems to universally implement the concept of data spaces across various domains 9 . To establish formal trust within this architecture, The IDSA has developed a certification concept for IDS components and participants' operational environments. ...
... Toward addressing challenge 4. To address the challenge of technical efficiency and scalability, a promising research direction involves optimizing distributed computing. This involves a multifaceted approach, including the investigation of customized consensus algorithms tailored to the unique requirements of data marketplaces such algorithms can enhance data transaction speeds, reduce latency, and ensure data integrity, particularly in large-scale data trading scenarios [9,24]. Additionally, exploring edge and fog computing solutions for localized data processing can alleviate the strain on centralized servers [43], improving overall system efficiency. ...
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... It becomes extremely difficult to make any changes unethically since these kinds of changes will automatically get rejected by the Blockchain before being included. Every time a new change is made to the data, it cannot be included in the Blockchain unless it is validated by the peer nodes [30,31]. There may be times when the number of metadata items in the NFT is large due to product images or videos in the details section. ...
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... In the comparative study of recently proposed algorithms [55,56] For example, PoW, commonly associated with public blockchains, showcases medium to high transaction rates but exhibits moderate scalability. Despite resilience to Sybil attacks, PoW is susceptible to 51% attacks, requiring substantial computational power and resulting in moderate latency and throughput with elevated bandwidth requirements. ...
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... Smart contracts [42] are another vital part of blockchain, which is important for our system. Anonymity and privacy are the inherited challenges in the blockchain system [43]. Anonymity means that the original sender remains innominate. ...
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... Blockchain networks' consensus algorithms control how transactions are verified and added to the blockchain. Proof-of-Work (PoW) is a common consensus mechanism, but it can be resource-intensive and have high latency [180] [184]. Long confirmation times and significant energy use may not be practical in an IoT context where real-time responsiveness is essential. ...
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Internet of Things (IoT) plays an essential contribution in connecting devices and enabling seamless data exchange, leading to increased efficiency and convenience. However, security concerns in IoT systems are significant, as compromised devices can lead to data breaches and privacy violations. Blockchain technology can enhance IoT security by providing decentralized consensus, immutability, and transparent transaction records, ensuring secure and trustworthy communication and data integrity. This review article gives a succinct but thorough understanding of blockchain technology, covering architecture of blockchain, working principles, types, applications, platforms, and its role in the IoT environment. The study highlights potential benefits of blockchain like enhanced security and privacy, and explores its integration with IoT. Additionally, the study discusses various real-world applications, examines blockchain platforms, and addresses the limitations and challenges associated with blockchain technology. This review serves as a valuable resource for researchers and practitioners seeking a deeper understanding of blockchain’s potential and its implications in the IoT landscape.
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... Each member participating in the hash target search competition uses computing power individually. Thus, each member does mining, and only one member is considered the winner, which makes PoW consume much energy [30,31]. The workflow example of performance-based blockchain consensus is shown in Fig. 2. Another performance-based consensus proposed is PoSe (Proof-of-Search). ...
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This research presents a reputation-based blockchain consensus mechanism called Proof of Intelligent Reputation (PoIR) as an alternative to traditional Proof of Work (PoW). PoIR addresses the limitations of existing reputation-based consensus mechanisms by proposing a more decentralized and fair node selection process. The proposed PoIR consensus combines Bidirectional Long Short-Term Memory (BiLSTM) with the Network Entity Reputation Database (NERD) to generate reputation scores for network entities and select authoritative nodes. NERD records network entity profiles based on various sources, i.e., Warden, Blacklists, DShield, AlienVault Open Threat Exchange (OTX), and MISP (Malware Information Sharing Platform). It summarizes these profile records into a reputation score value. The PoIR consensus mechanism utilizes these reputation scores to select authoritative nodes. The evaluation demonstrates that PoIR exhibits higher centralization resistance than PoS and PoW. Authoritative nodes were selected fairly during the 1000-block proposal round, ensuring a more decentralized blockchain ecosystem. In contrast, malicious nodes successfully monopolized 58% and 32% of transaction processes in PoS and PoW, respectively, but failed to do so in PoIR. The findings also indicate that PoIR offers efficient transaction times of 12 s, outperforms reputation-based consensus such as PoW, and is comparable to reputation-based consensus such as PoS. Furthermore, the model evaluation shows that BiLSTM outperforms other Recurrent Neural Network models, i.e., BiGRU (Bidirectional Gated Recurrent Unit), UniLSTM (Unidirectional Long Short-Term Memory), and UniGRU (Unidirectional Gated Recurrent Unit) with 0.022 Root Mean Squared Error (RMSE). This study concludes that the PoIR consensus mechanism is more resistant to centralization than PoS and PoW. Integrating BiLSTM and NERD enhances the fairness and efficiency of blockchain applications.
... Consensus algorithms that require that all the participants are known are not applicable. These so-called private or consortium blockchain systems [13] use Byzantine Fault Tolerant type consensus [14]. ...
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Bitcoin is one of the most prominent blockchain systems but is infamous for its massive energy consumption. The proof-of-work (PoW) consensus algorithm used for appending transactions to the Bitcoin ledger (also known as Bitcoin mining) incurs substantial energy expenditure due to the energy-intensive nature of PoW. The root of this inefficiency lies in the current implementation of the PoW algorithm. PoW establishes a linear relationship between a miner's computational power and their probability of successfully mining a block by assigning an identical cryptographic puzzle to all miners. This paper investigates the energy inefficiency inherent in PoW mining by exploring the potential benefits of introducing a nonlinear probability of success based on a miner's computational power. This nonlinear proof-of-work (nlPoW) algorithm reduces energy consumption without compromising the decentralised nature of Bitcoin. This study formulates four distinct nlPoW algorithms through a meticulous design science approach by deducing requisite algorithmic specifications and structures. Rigorous statistical simulations are employed to assess the performance of nlPoW against conventional PoW within the Bitcoin mining process. Preliminary outcomes obtained from simulating a sizable network of miners, each possessing equivalent computational power, demonstrate that nlPoW effectively curtails the hash computations required during Bitcoin mining. nlPoW achieves energy efficiency enhancements without compromising the decentralised consensus model or substituting energy consumption with alternate resources, a trade-off often observed in prior attempts to mitigate the energy challenge associated with PoW.