Fault Tolerant Distributed Transactions On Blockchain

Since the introduction of Bitcoin—the first widespread application driven by blockchain—the interest of the public and private sectors in blockchain has skyrocketed. In recent years, blockchain-based fabrics have been used to address challenges in diverse fields such as trade, food production, property rights, identity-management, aid delivery, health care, and fraud prevention. This widespread interest follows from fundamental concepts on which blockchains are built that together embed the notion of trust, upon which blockchains are built. 1. Blockchains provide data transparancy. Data in a blockchain is stored in the form of a ledger, which contains an ordered history of all the transactions. This facilitates oversight and auditing. 2. Blockchains ensure data integrity by using strong cryptographic primitives. This guarantees that transactions accepted by the blockchain are authenticated by its issuer, are immutable, and cannot be repudiated by the issuer. This ensures accountability. 3. Blockchains are decentralized, democratic, and resilient. They use consensus-based replication to decentralize the ledger among many independent participants. Thus, it can operate completely decentralized and does not require trust in a single authority. Additions to the chain are performed by consensus, in which all participants have a democratic voice in maintaining the integrity of the blockchain. Due to the usage of replication and consensus, blockchains are also highly resilient to malicious attacks even when a significant portion of the participants are malicious. It further increases the opportunity for fairness and equity through democratization. These fundamental concepts and the technologies behind them—a generic ledger-based data model, cryptographically ensured data integrity, and consensus-based replication—prove to be a powerful and inspiring combination, a catalyst to promote computational trust. In this book, we present an in-depth study of blockchain, unraveling its revolutionary promise to instill computational trust in society, all carefully tailored to a broad audience including students, researchers, and practitioners. We offer a comprehensive overview of theoretical limitations and practical usability of consensus protocols while examining the diverse landscape of how blockchains are manifested in their permissioned and permissionless forms.

Since the introduction of Bitcoin-the first widespread application driven by blockchain-the interest of the public and private sectors in blockchain has skyrocketed. In recent years, blockchain-based fabrics have been used to address challenges in diverse fields such as trade, food production, property rights, identity-management, aid delivery, health care, and fraud prevention. This widespread interest follows from fundamental concepts on which blockchains are built that together embed the notion of trust, upon which blockchains are built. 1. Blockchains provide data transparancy. Data in a blockchain is stored in the form of a ledger, which contains an ordered history of all the transactions. This facilitates oversight and auditing. 2. Blockchains ensure data integrity by using strong cryptographic primitives. This guarantees that transactions accepted by the blockchain are authenticated by its issuer, are immutable, and cannot be repudiated by the issuer. This ensures accountability. 3. Blockchains are decentralized, democratic, and resilient. They use consensus-based replication to decentralize the ledger among many independent participants. Thus, it can operate completely decentralized and does not require trust in a single authority. Additions to the chain are performed by consensus, in which all participants have a democratic voice in maintaining the integrity of the blockchain. Due to the usage of replication and consensus, blockchains are also highly resilient to malicious attacks even when a significant portion of the participants are malicious. It further increases the opportunity for fairness and equity through democratization. These fundamental concepts and the technologies behind them-a generic ledger-based data model, cryptographically ensured data integrity, and consensus-based replication-prove to be a powerful and inspiring combination, a catalyst to promote computational trust. In this book, we present an in-depth study of blockchain, unraveling its revolutionary promise to instill computational trust in society, all carefully tailored to a broad audience including students, researchers, and practitioners. We offer a comprehensive overview of theoretical limitations and practical usability of consensus protocols while examining the diverse landscape of how blockchains are manifested in their permissioned and permissionless forms.

This book is the first to present the state of the art and provide technical focus on the latest advances in the foundations of blockchain systems. It is a collaborative work between specialists in cryptography, distributed systems, formal languages, and economics, and addresses hot topics in blockchains from a theoretical perspective: cryptographic primitives, consensus, formalization of blockchain properties, game theory applied to blockchains, and economical issues. This book reflects the expertise of the various authors, and is intended to benefit researchers, students, and engineers who seek an understanding of the theoretical foundations of blockchains.

This book covers the most essential techniques for designing and building dependable distributed systems, from traditional fault tolerance to the blockchain technology. Topics include checkpointing and logging, recovery-orientated computing, replication, distributed consensus, Byzantine fault tolerance, as well as blockchain. This book intentionally includes traditional fault tolerance techniques so that readers can appreciate better the huge benefits brought by the blockchain technology and why it has been touted as a disruptive technology, some even regard it at the same level of the Internet. This book also expresses a grave concern on using traditional consensus algorithms in blockchain because with the limited scalability of such algorithms, the primary benefits of using blockchain in the first place, such as decentralization and immutability, could be easily lost under cyberattacks.

Blockchain is an emerging technology platform for developing decentralized applications and data storage, over and beyond its role as the technology underlying the cryptocurrencies. The basic tenet of this platform is that it allows one to create a distributed and replicated ledger of events, transactions, and data generated through various IT processes with strong cryptographic guarantees of tamper resistance, immutability, and verifiability. Public blockchain platforms allow us to guarantee these properties with overwhelming probabilities even when untrusted users are participants of distributed applications with the ability to transact on the platform. Even though, blockchain technology has become popularly known because of its use in the implementation of cryptocurrencies such as BitCoin, Ethereum, etc.; the technology itself holds much more promise in various areas such as time stamping, logging of critical events in a system, recording of transactions, trustworthy e-governance, etc. It introduces theoretical and practical aspects of blockchain technology. The book includes an in-depth insight into the need for decentralization, smart contracts, consensus both permissioned and permissionless, and various blockchain development frameworks, tools, and platforms. It can be used as a learning resource for various examinations and certifications related to cryptocurrency and blockchain technology. This book explained the nuts and bolts of blockchain technology in lucid language to make students more familiar with the implementation perspective of this much-needed technology.

Exploring many aspects of blockchain technologies and providing an overview of the latest cuttingedge developments along with their diversified business applications, this volume addresses the challenges, emerging issues, and problems in classical centralized architecture and covers how blockchain platforms provide almost magical solutions and novel services for improving business processes. Focusing on blockchain technology-based distributed transactions for industrial use, the chapters address applications in sectors such as healthcare, pharmaceutical drug supply, finance and banking, agriculture and farming, semantic web services, etc. The book explores blockchain applications associated with security issues, cryptocurrencies, cloud computing, Internet of Things, estimating intelligence (of crows, as an example) using artificial intelligence, and more. The chapters discuss deployment, feasibility studies, and the many diverse services offered by blockchain technology

This book constitutes the refereed proceedings of the 12th International Symposium on Foundations of Information and Knowledge Systems, FoIKS 2022, held in Helsinki, Finland, in June 2022. The 13 full papers presented were carefully reviewed and selected from 21 submissions. The papers address various topics such as information and knowledge systems, including submissions that apply ideas, theories or methods from specific disciplines to information and knowledge systems. Examples of such disciplines are discrete mathematics, logic and algebra, model theory, databases, information theory, complexity theory, algorithmics and computation, statistics and optimization.

This book takes readers through the sensational history of blockchains and their potential to revolutionize database systems of the future. In order to demystify blockchains, the book capitalizes on decades of research and field testing of existing database and distributed systems and applies these familiar concepts to the novel blockchain system. It then utilizes this framework to explore the essential block platform underpinning blockchains, which is often misunderstood as a specific attribute of cryptocurrencies rather than the core of the decentralized system independent of application. The book explores the nature of these decentralized systems, which have no single owner and build robustness through a multitude of stakeholder contributions. In this way, blockchains can build trust into existing systems and thus present attractive solutions for various domains across both academia and industry. Despite this, high-impact and real-world applications of blockchain have yet to be realized outside of cryptocurrencies like Bitcoin. The book establishes how this new data system, if properly applied, can disrupt the sector in much the same way databases did so many years ago. The book explores the fundamental technical limitations that may be preventing blockchain from realizing this potential and how to overcome or mitigate them. Readers who are completely new to blockchains will find this book to be a comprehensive survey of the state of the art in blockchain technology. Readers with some experience of blockchains, for example through developing cryptocurrencies, will likely find the book’s database perspective enlightening. Finally, researchers already working with blockchain will learn to identify existing gaps in the design space and explore potential solutions for creating the next generation of blockchain systems.