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The Role Of Blockchain In Montpellier’s Energy Market: Transparency And Profitability

The Role Of Blockchain In Montpellier's Energy Market: Transparency And Profitability

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What Is Blockchain As A Service, And How Can We Use It?

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Hector Roussille by Hector Roussille Skillit

Blockchain Facts: What Is It, How It Works, And How It Can Be Used

Received: 17 November 2021 / Revised: 3 December 2021 / Accepted: 15 December 2021 / Published: 21 December 2021

Blockchain is a very attractive technology because it maintains public, append-only, immutable and ordered transactions that guarantee an auditable ledger accessible by anyone. Blockchain systems are inherently interdisciplinary as they combine fields as diverse as cryptography, multi-agent systems, distributed systems, social systems, economy and finance. In addition, they have a very active and dynamic ecosystem where new blockchain platforms and algorithms are constantly being developed due to people’s and industry’s interest in the technology. Consequently, we anticipate a challenging and interdisciplinary research agenda in blockchain systems, built on a methodology that seeks to capture the rich process resulting from the interplay between the behavior of agents and the dynamic interactions between them. To be effective, however, modeling studies that provide insight into blockchain systems, and a proper description of the agents involved with a common understanding of their components, are required. Such studies will create a more unified field of blockchain systems that will further our understanding and lead to further insights. According to this perspective, in this study, we propose to use a general multi-agent organizational modeling, namely AGR4BS, to study blockchain systems. Concretely, we use the Agent/Group/Role (AGR) organizational modeling approach to identify and represent generic entities that are common to blockchain systems. We show through four real case studies how this general model can be used to model different blockchain systems. We briefly show how it can be used to model three well-known attacks on blockchain systems.

Blockchain is a very attractive technology because it maintains public, append-only, immutable and ordered transactions that guarantee an auditable ledger accessible by anyone. Blockchain was originally created in 2008 under the Bitcoin [1] cryptocurrency, and since then the blockchain ecosystem has become very large. Today, many types of blockchain exist based on different algorithms and permissions.

The Role Of Blockchain In Montpellier's Energy Market: Transparency And Profitability

In general, a blockchain system allows its participants to create a collectively distributed economic, social, and technological system where participants perform verified transactions without fully trusting each other, relying on a trusted third party, nor having a global view of the system. ]. They do so by seeking out peers and engaging with them based on implementation-based selection strategies; The propagation of information through that network shares some similarities with co-evolving knowledge networks [3] as the agent’s view of both the blockchain and the network topology may change over time. More precisely, when some participants use blockchain as a transactional service, other participants are encouraged to contribute and provide this service. This difference in the nature of participants and the way they use the system, with fundamentally different but interdependent objectives within the same system, leads to their symbiosis. However, in the presence of strong economic incentives, divergent behavior can arise and possibly endanger the entire system in the pursuit of individual wealth. Therefore, carefully designing objectives and participant behaviors is paramount.

The Environmental Consequences Of Blockchain Technology: A Bayesian Quantile Cointegration Analysis For Bitcoin

Blockchain systems are environments that are too complex for humans to predetermine appropriate behaviors using hand-crafted solutions to problems such as incentive compatibility, behavioral deviations, or general blockchain regulation. Furthermore, little or no consensus exists on the modeling used to build/analyze blockchain systems, and most approaches make sense only for a subset of existing blockchains.

Existing studies focus on a relatively small set of problems of specific blockchain systems and thus eliminate some inherent properties of such systems. Those abstractions may be related to either network latency, non-stationarity or neglect of the long-term stability of the system. Those approaches, while providing interesting results, have serious biases in the way they model the blockchain and oversimplify many of the interactions that occur within it.

Consequently, there is a need for a realistic and highly flexible model capable of representing a wide range of existing and future blockchain systems that may have widely different architectures and objectives. Based on this observation, in this paper, we propose a general organizational model for blockchain systems called AGR4BS. Specifically, the contributions of this study are as follows:

The organization of this paper is as follows. The next section provides an overview of blockchain systems. Section 3 provides a review of existing approaches in modeling blockchain systems. In Section 4, we provide our motivation for using institutional-centric multi-agent modeling. Then, in Section 5, we propose a general organizational model for blockchain systems. We show the applicability and effectiveness of this model on four real case studies in Section 6. In Section 7 we briefly show how general models can be used for modeling attacks on blockchain systems. Section 8 further discusses the strengths and limitations of the proposed approach, and Section 9 concludes the paper.

View Of Blockchain Technology For A Safe And Transparent Covid 19 Vaccination

This section follows a bottom-up approach: first, a formal model of the blockchain data structure is given (Section 2.1), then the basic principles of blockchain systems are presented (Section 2.2) and decentralized applications and organizations are described (Section 2.3). Then comes the concept of an oracle (Section 2.4). Finally, we discuss general characteristics of blockchain systems (Section 2.5).

The data structure of a blockchain maintained by a single participant can be modeled as a dynamic append-only tree, where each block

. A chain is then selected as the main chain according to the blockchain protocol used. All chains other than the main chain are called side chains. If, at any time, more than one main chain candidate exists (i.e., there are multiple heads), the blockchain is said to be inconsistent. This condition disappears when a new block extends one of these side chains. Blocks on other branches are discarded and are known as stale blocks.

The Role Of Blockchain In Montpellier's Energy Market: Transparency And Profitability

Technically speaking, all participants store unconfirmed transactions in their own memory pool and confirmed transactions in their local blockchain (Figure 2).

What Is Blockchain (distributed Ledger Technology)?

Basically, there are two main types of participants for all types of blockchain systems: users and block proponents. Users create transactions with fees and then propose them by spreading them across the blockchain network for confirmation (i.e., fully ordered and cryptographically linked to the blockchain). Each participant receives the proposed transaction, validates it and forwards it to its own neighbors. After receiving a certain number of transactions, block proponents select transactions to confirm and order by creating a dedicated block through a blockchain consensus mechanism, e.g., Proof-of-Work (PoW), Proof-of-Stake (PoS). , Delegated Proof-of-Stake (DPOS), Byzantine Fault-Tolerance (BFT); For reviews see [4, 5]. Depending on the mechanism and blockchain technology used, block proposers are respectively known as miners [1], validators [6], backers [7], orderers [8], committee members [9], etc. A successful block proposer diffuses its block into the network to connect it to the local blockchain. Each participant receiving a proposed block validates it against its local blockchain and propagates it to its own neighbors. Upon inclusion of its block by all participants, the corresponding successful block proposer is rewarded

Block i contains the total amount of transaction fees. In this way, user and block proposer participants together maintain a shared data structure known as blockchain.

To improve their block creation capabilities, block proponents can invest in hardware, capital, or other agents depending on the consensus method used. For example, in a PoW blockchain they can invest in new hardware because the more computational power they have, the easier it is.

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