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Cryptographic and Consensus Techniques Supporting Privacy and Security Management of Cryptocurrency Transactions
Published in Rajdeep Chakraborty, Anupam Ghosh, Valentina Emilia Bălaş, Ahmed A Elngar, Blockchain, 2023
A cryptocurrency, also known as digital currency, is a digital financial asset considered to serve as a type of exchange medium in which individual records of coin ownership are kept in a ledger, that is a kind of distributed electronic database which utilizes powerful cryptographic techniques to make transaction records secure, manage the formation of new coins, and verify the transfer of coin ownership. It is usually not available in tangible form, such as money notes, and it is not dispensed by a central authority. Cryptocurrencies, in contrast to centralized digital money and central banking systems, generally rely on decentralized power. Every cryptocurrency is driven by a blockchain, a distributed ledger technology that acts as a database of public financial transactions.
Electricity and Hardware Resource Consumption in Cryptocurrency Mining
Published in Sarvesh Tanwar, Sumit Badotra, Ajay Rana, Machine Learning, Blockchain, and Cyber Security in Smart Environments, 2023
Lokesh Gundaboina, Sumit Badotra, Gaurav Malik, Vishal Jain
The use of cryptocurrency has been growing in recent years, leading to an expansion of interest in cryptocurrency mining. Cryptocurrency mining is a technique that validates transactions for various sorts of cryptocurrencies and adds them to a digital blockchain ledger. It is also known as crypto-coin mining, altcoin mining, or bitcoin mining [1]. Cryptocurrency miners compete with one another to unravel complex math problems using high-performance computer systems and a variety of algorithms [2]. In addition to transaction processing charges in exchange for their services, miners obtain newly generated cryptocurrencies [3]. Not all cryptocurrencies are mineable; bitcoin is the most established and best-known example of a mineable cryptocurrency.
Test-Driven Development Based on Your Own Blockchain Creation Using Javascript
Published in Neeraj Kumar, N. Gayathri, Md. Arafatur Rahman, B. Balamurugan, Blockchain, Big Data and Machine Learning, 2020
P. Balakrishnan, L. Ramanathan
A wallet in cryptocurrency may be a hardware device, medium, software or a service that stocks the key pairs that will be used to verify the rights, credit or debit the cryptocurrencies. Here, the public key of a wallet may be used to credit the cryptocurrencies from any other wallet whereas the private key is used to debit cryptocurrency from this wallet to any other wallet. The code and test-case for transactions using a wallet is given in Listing 10.17 and Listing 10.18, respectively.
Bi-Directional CNN-RNN Architecture with Group-Wise Enhancement and Attention Mechanisms for Cryptocurrency Sentiment Analysis
Published in Applied Artificial Intelligence, 2022
Gül Cihan Habek, Mansur Alp Toçoğlu, Aytuğ Onan
The popularity of trading cryptocurrency coins in trading platforms has increased exponentially in recent years. Cryptocurrency is a blockchain-based digital asset which is used as peer to peer digital exchange units in online payments. This digital currency is basically based on two encryption algorithms, which are elliptic curve encryption and public-private key pairs. Besides, in order to secure online payments, hashing functions are used to provide legitimate and unique transactions (Aslam et al. 2022). Bitcoin is the first cryptocurrency coin which is introduced in 2009. It is designed to be an independent digital asset against the currency tracking systems of governments and banks by hiding the information of the sender and the receiver in a payment process (Di Pierro 2017). There are well-known cryptocurrencies in the market. Ethereum is one of them which was introduced in 2015 by Vitalik Buterin (Tikhomirov et al. 2018). Ethereum enables its users to create smart contracts of their own (Wöhrer and Zdun 2018).
Making smart manufacturing smarter – a survey on blockchain technology in Industry 4.0
Published in Enterprise Information Systems, 2021
An entity (or participant) in a blockchain system is any actor involved in a transaction. It can be a user, an organisation, a smart device, an IIoT gateway, a value chain participant, or a software agent. Validating and recording transactions are called mining. The entity which conducts mining is called a miner. Depending on the particular consensus protocol used, the miners compete to validate and record transactions for a financial reward, usually in a form of cryptocurrency such as Bitcoin or Ether. To add a block to the blockchain, the majority of the entities in the blockchain network must agree with the validity of the transactions in that block. This is achieved through a consensus process. There are various consensus protocols in the current implementations of blockchains including Proof of Work (Nakamoto 2009), Proof of Stack (Vasin 2014), Proof of Authority (POA 2017), Proof of Activity (Bentov et al. 2014), Practical Byzantine Fault Tolerance (Castro and Liskov et al. 1999), Tendermint (Kwon 2014), Federated Byzantine Fault Tolerance (Schwartz, Youngs, and Britto 2014), Measure of Trust (Zyskind, Nathan, and Pentland 2015), just to name a few.
Cryptocurrency valuation and ethics: a text analytic approach
Published in Journal of Management Analytics, 2020
James R. Barth, Hemantha S. B. Herath, Tejaswini C. Herath, Pei Xu
“Cryptocurrency” is a generic term for a virtual or digital currency that takes the form of coins or tokens. Cryptocurrencies use a blockchain technology. Blockchain was introduced as the underlying structure and mechanism of digital cryptocurrencies (Al-Saqaf & Seidler, 2017). Blockchain technology is not limited to cryptocurrencies. Indeed, it has shown promise in many other areas, such as digital supply chains, internet of things (IoT) systems, vehicular systems, surveillance systems, and even the creation of new business models like a sharing economy, local energy trading, smart cities, among others (Lu, 2019; Viriyasitavat, Anuphaptrirong, & Hoonsopon, 2019). Considering the potential of blockchains, recent research on them has accelerated and even led to review papers (Demirkan, Demirkan, & McKee, 2020; Lu, 2018, 2019; Viriyasitavat & Hoonsopon, 2019; Xu & Viriyasitavat, 2019; Zhang & Chen, 2020) that discuss the opportunities and challenges of blockchain technologies.