Distributed Computing: Blockchain Technology
You have to write a research paper based on the project proposal you have provided.
Make sure to use IEEE paper formatting.
The paper should have following sections:
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Abstract: Summary of contributions and/or results you have observed.
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Introduction: Provide background of the topic and tell briefly what you did based on the content you have listed in later sections.
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Background or Literature review: List the sources you have used and what are the key things you have observed. Also list how it relates to what you are doing and how your approach is different (Not needed for a survey paper).
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Problem Statement: Briefly describe the problem that you want to work on.
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Proposed work: (Can be done in one or multiple sections) Write about your contributions, advantages, disadvantages, experiments if you have done any.
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Conclusion: Write a brief summary of what has been presented.
Presentation: You have to present your work in the class. Each group will have 10 minutes to present their work.
Abstract— The information technology sector has been growing exponentially over the last few decades with data gained form the sector not only becoming greatly complex but also large. Certain tasks remain to be unsuitable for distributed computing. At the same time, these complicated tasks may require to be done in a single larger step and as such, there comes to be a very hard time for an entity to divide the tasks into a variety of smaller manageable functions. It is important to note the some computational work on a large project may not be able to be performed singularly but may require a systemic approach into a task. In such cases difficult to distribute tasks see intermediate step require the result from previous step. The telecommunication sector is one of the more important regions where distributed computing has played a crucial role in allowing telecommunication, cryptocurrency, and cloud computing among others to be achieved across the world. Using scalability and parallelism information that would be otherwise very hard to process have become achievable in just a short amount of time.
Keywords distributed computing, distributed computing, cryptocurrency, blockchain
I. INTRODUCTION
The processing power of single standalone computers are usually limited relative to the amount of computing tasks that they may be required to perform. In cases where an entity needs to perform computation of a large task, the processing power of a single computer may actually be limiting and as such, in the case of large scale projects, an entity may need to apply the use of larger computer networks [1]. The idea behind distributed computing considers this function and evaluates that a single computer may be unable to perform larger tasks as such, it may requires the help of other computers to perform a larger scale task collectively, by distributing the task into smaller manageable units per computer. Distributed computing is the basis for a distributed system and in the modern day computing space, these systems are present in virtually all aspects of large scale computational functions. A distributed computing system allows for resource sharing (software and hardware) bringing down the costs that may be incurred by an entity wishing to perform large computational functions. Common example of distributed systems include Intranets, world wide web, emails, telecommunication, internet, and networks [2]. The growth in volume and complexity of information in the field of cryptocurrency across the last few decades has resulted in the manifestation of dynamic computational task relative to the computing powers available in the modern computer [3 Misik Cela and Bradac]. Distributed computing has come to be very beneficial in allowing larger transactional dataset be processed to their end users in short amounts of time
II. BACKGROUND
Cryptocurrency are a form of digital currency wherein transactions are verified and recorded on a decentralized platform using cryptography. Cryptocurrency such as the Bitcoin are full digital currency with no banks to record the transaction and no central authority to issue the currency. Researchers identify that this is a peer to peer electronic cash that allows for payment without a financial institution backing its value, but the users. In Bitcoin: A Peer-to-Peer Electronic Cash System Digital signatures provide for the currencies virility but there is a need for a third party to verify the digital signature without creating double entries into a unique digital signature [4]. The popularity of cryptocurrency is based of the fact that there is not central authorities who regulate the currencies as such, greater emphasis is placed on the currency’s ability to be secure and all pertinent information be verifiable and decentralized providing a greater level of equality for all its users. With large amounts of transactions being made every single time and the platform being decentralized (happening simultaneously across a variety of systems), there is a greater need for the transitions to be recorded and at the same time remain verifiable. The distributed computing system comes to provide a great solution to these unique problem. Researchers in the book Cyber Security in Parallel and Distributed Computing identify that blockchains are created where all information that is produced from a single transaction in a single moment is recorded and distributed across all ledger accounts which may be million of computers and users of blockchain technology (that record the information of transaction for accountability) in a manner that the previous step is recognized as well as the next transaction without double entry even if multiple transactions were taking place at the same time [1]. This requires larger computing power and with the availability of the internet, distributed computing allows for cryptocurrency to exist and all transactions become recorded and verifiable.
III. PROBLEM STATEMENT
The following research seeks to highlight blockchain as a distributed ledger. The research will highlight ow the ledger is spread across the network among all nodes (computers) in a network and how every node has a copy of the blockchain and once a block reaches certain number of approved transactional values a new block is added to the block chain.
IV. PROPOSED WORKS
Research into blockchain technology indicates that each transaction may happen from a different computer from different regions of the world, and all taking place at the same time, as such precedence is given to the most recent transaction which is identified and stored within the decentralized system in a unique manner as each transaction in real time can be seen by a variety of computers and assigned a unique digital signature. Research indicates that blockchains are public registers such that all transaction are recorded in a list of block where blocks keep being added on and there manifest a chain like formation [5 Conway 2020]. Blockchains are copied and spread across a wide range of computers and in the event that a block (signifying a transaction is added into the chain) every computer in the network gets an update and the changes become reflected in the manifested chain.
Researchers reinstate that “When data is accessed and updated, any change made is recorded and verified. Thereafter, it is encrypted so that further changes cannot be made. These changes are then updated into the main records. It is a repetitive process and every time a change is made, the information is preserved in a new block.” [6]. As such larger sums of data simultaneously appear in the end users, as well as ledger appear in blockchain users all with a unique set of information relative to the function of the block created. The technology works by spreading information transacted from one computer to a wide range of computers rather than keeping it in a central location. This is important in making the system fool proof. In the event that a single copy of the blockchain is compromised the whole system does not fall but rather that singular system. Encryption technique within the distributed system obscure content allowing a larger number of computer to gain the transaction details but maintain integrity of the information for its intended users [6].
V. CONCLUSIONS
Distributed computing networks allow blockchain not only to exist but become propagated to a larger number of people, at the same time, and remain dependable. The system provide security and equality of its users. Large computational tasks such as recording transactions as well as creating new digital signature when users mine new digital currency (which create unique digital signatures) allow for the verification of the data across a wide range of users.
REFERENCES
[1] Priyadarshini. “Chapter 6: Introduction to Blockchain Technology” Dac-Nhuong Le et al. (eds.), in Cyber Security in Parallel and Distributed Computing, (93–262) © 2019 Scrivener Publishing LLC
[2] H. Oliver, C. Edwards and D. Hutchison, “The role of distributed computing in telecommunications: experiences and analyses,” 6th IEE Conference on Telecommunications 1998 (Conf. Publ. No. 451), 1998, pp. 106-110, doi: 10.1049/cp:19980022.
[3]S. Misik, A. Cela and Z. Bradac, “Distributed Systems – A brief review of theory and practice”, IFAC-PapersOnLine, vol. 49, no. 25, pp. 318-323, 2016. Available: 10.1016/j.ifacol.2016.12.057 [Accessed 26 May 2021].
[4]Nakamoto, “Bitcoin: A Peer-to-Peer Electronic Cash System”, SSRN Electronic Journal, 2008. Available: 10.2139/ssrn.3440802.
[5]Conway, “Blockchain Explained”, Investopedia, 2017. [Online]. Available: https://www.investopedia.com/terms/b/blockchain.asp#:~:text=Blockchain%20does%20not%20store%20any,blockchain%20to%20reflect%20the%20change. [Accessed: 26- May- 2021].
[6]F. Cosik, T. Dasaklis and C. Patsakis, “A systematic literature review of blockchain-based applications: Current status, classification and open issues”, Telematics and Informatics, vol. 36, pp. 55-81, 2019. Available: 10.1016/j.tele.2018.11.006 [Accessed 26 May 2021].
