Blockchains are well-suited for tokenizing, trading, and retiring voluntary carbon credits. However, tokenized carbon credits are a heterogeneous body of tokens on the blockchain, which hampers some key goals of the industry. We give a detailed exposition of the current state of tokenized carbon credits and the surrounding blockchain-based ecosystem, with the goal of clarifying current impediments to token interoperability and trading with high liquidity.
{"title":"Tokenized Carbon Credits","authors":"Derek Sorensen","doi":"10.5195/ledger.2023.294","DOIUrl":"https://doi.org/10.5195/ledger.2023.294","url":null,"abstract":"Blockchains are well-suited for tokenizing, trading, and retiring voluntary carbon credits. However, tokenized carbon credits are a heterogeneous body of tokens on the blockchain, which hampers some key goals of the industry. We give a detailed exposition of the current state of tokenized carbon credits and the surrounding blockchain-based ecosystem, with the goal of clarifying current impediments to token interoperability and trading with high liquidity.","PeriodicalId":36240,"journal":{"name":"Ledger","volume":"2 18","pages":""},"PeriodicalIF":0.7,"publicationDate":"2023-12-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138959784","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Bitcoin’s layer 2 (L2) solution is a payment channel network (PCN) that has an internal market of its own. Businesses (node operators) compete on a cost basis to maximize use of their locked liquidity by minimizing channel fees. From an economic perspective this is a standard profit maximization problem, however as described in Béres, Seres, and Benczúr (2021), profit on node operation is so low that it is economically irrational. Despite this, the number of nodes continues to grow, even as the price of Bitcoin declines. Many node businesses likely operate at a net USD loss, especially when factors such as labor and loss of access to capital are considered. This paper is an economist’s account of entering into an apparently irrational market. Due to difficulties with surveying node operators, the primary objective of the paper, uncovering the reason for financial loss making activity, was not discovered, however this paper is the first to: describe the internal L2 market for routing; provide basic business balance sheet items for a median scale node; describe the on-boarding process of node operation; and identify the need for differentiation of personal/routing/hybrid nodes.The market for routing is near-perfect in terms of internal competition, but sub-optimally arranged. Operating losses that many node operators face appear to be rationalized as a “fiat only” loss, node operators exist within a Bitcoin-only profit paradigm. Computing the actual fiat profit margin is not possible, due to insufficient data regarding the average fiat cost of the bitcoin deposited to provide routing liquidity.
比特币的第二层(L2)解决方案是一个拥有自己内部市场的支付渠道网络(PCN)。企业(节点运营商)在成本基础上竞争，通过最小化渠道费用来最大限度地利用其锁定的流动性。从经济学的角度来看，这是一个标准的利润最大化问题，然而正如bsamures, Seres, and Benczúr(2021)所描述的那样，节点运营的利润太低，在经济上是不合理的。尽管如此，即使比特币的价格下降，节点的数量仍在继续增长。许多节点业务可能以美元净亏损的方式运营，特别是考虑到劳动力和资本损失等因素。本文是一位经济学家对进入一个显然非理性的市场的描述。由于调查节点运营商的困难，本文的主要目标是揭示财务亏损活动的原因，并没有发现，但本文是第一个:描述内部L2市场的路由;为中等规模节点提供基本的业务资产负债表项目;描述节点操作的入职过程;并确定个人/路由/混合节点的差异化需求。就内部竞争而言，路由市场近乎完美，但布局不够理想。许多节点运营商面临的运营亏损似乎被合理化为“仅限法币”亏损，节点运营商存在于仅限比特币的盈利模式中。由于提供路由流动性的比特币的平均法币成本数据不足，计算实际的法币利润率是不可能的。
{"title":"Irrational Economic Action: Running a Bitcoin Lightning Node for Negative Profit","authors":"Edward Gotham","doi":"10.5195/ledger.2023.289","DOIUrl":"https://doi.org/10.5195/ledger.2023.289","url":null,"abstract":"Bitcoin’s layer 2 (L2) solution is a payment channel network (PCN) that has an internal market of its own. Businesses (node operators) compete on a cost basis to maximize use of their locked liquidity by minimizing channel fees. From an economic perspective this is a standard profit maximization problem, however as described in Béres, Seres, and Benczúr (2021), profit on node operation is so low that it is economically irrational. Despite this, the number of nodes continues to grow, even as the price of Bitcoin declines. Many node businesses likely operate at a net USD loss, especially when factors such as labor and loss of access to capital are considered. This paper is an economist’s account of entering into an apparently irrational market. Due to difficulties with surveying node operators, the primary objective of the paper, uncovering the reason for financial loss making activity, was not discovered, however this paper is the first to: describe the internal L2 market for routing; provide basic business balance sheet items for a median scale node; describe the on-boarding process of node operation; and identify the need for differentiation of personal/routing/hybrid nodes.The market for routing is near-perfect in terms of internal competition, but sub-optimally arranged. Operating losses that many node operators face appear to be rationalized as a “fiat only” loss, node operators exist within a Bitcoin-only profit paradigm. Computing the actual fiat profit margin is not possible, due to insufficient data regarding the average fiat cost of the bitcoin deposited to provide routing liquidity.","PeriodicalId":36240,"journal":{"name":"Ledger","volume":"64 34","pages":""},"PeriodicalIF":0.7,"publicationDate":"2023-12-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138594903","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Muhammad Imran Sarwar, Kashif Nisar, Imran Khan, Danish Shehzad
A blockchain is a distributed ledger (DL) that records and tracks of transactions on a P2P network. It was originally designed for cryptocurrencies, but it is now used in healthcare, supply chain management, finance, and many more fields due to its security and trustworthiness. Trust and security are critical factors in any business, and the B2B model is no exception. In businesses, trust becomes more critical when the stakes are higher and the relationships are more complex. Centuries-old Double-Entry Accounting (DEA) is still used as an underlying accounting practice, and its reliability and efficiency are beyond question. But a critical review of DEA reveals that it lacks support for B2B transactions, as the two parties maintain their accounting books without cross-checks and verifications that may lead to an implausible situation. Triple-Entry Accounting (TEA) is an emerging accounting practice introduced in the recent past to overcome the limitations of DEA. It only applies if an outside person or business is involved in a transaction and is not meant to record any internal business transactions. Recording transactions on a blockchain and entering the third transaction via TEA are conceptually the same. The potential of blockchain-based TEA can address the challenges of the B2B business model and overcome some specific limitations of DEA. This study aims to survey the current state of the adaptation of blockchains and TEA in B2B transactions. The methodology used in this study can be classified as exploratory qualitative research and is based on the latest literature on the topics. The findings of this study would deepen our understanding of blockchains and TEA for B2B transactions as they highlight new opportunities and challenges.
{"title":"Blockchains and Triple-Entry Accounting for B2B Business Models","authors":"Muhammad Imran Sarwar, Kashif Nisar, Imran Khan, Danish Shehzad","doi":"10.5195/ledger.2023.288","DOIUrl":"https://doi.org/10.5195/ledger.2023.288","url":null,"abstract":"A blockchain is a distributed ledger (DL) that records and tracks of transactions on a P2P network. It was originally designed for cryptocurrencies, but it is now used in healthcare, supply chain management, finance, and many more fields due to its security and trustworthiness. Trust and security are critical factors in any business, and the B2B model is no exception. In businesses, trust becomes more critical when the stakes are higher and the relationships are more complex. Centuries-old Double-Entry Accounting (DEA) is still used as an underlying accounting practice, and its reliability and efficiency are beyond question. But a critical review of DEA reveals that it lacks support for B2B transactions, as the two parties maintain their accounting books without cross-checks and verifications that may lead to an implausible situation. Triple-Entry Accounting (TEA) is an emerging accounting practice introduced in the recent past to overcome the limitations of DEA. It only applies if an outside person or business is involved in a transaction and is not meant to record any internal business transactions. Recording transactions on a blockchain and entering the third transaction via TEA are conceptually the same. The potential of blockchain-based TEA can address the challenges of the B2B business model and overcome some specific limitations of DEA. This study aims to survey the current state of the adaptation of blockchains and TEA in B2B transactions. The methodology used in this study can be classified as exploratory qualitative research and is based on the latest literature on the topics. The findings of this study would deepen our understanding of blockchains and TEA for B2B transactions as they highlight new opportunities and challenges.","PeriodicalId":36240,"journal":{"name":"Ledger","volume":" ","pages":""},"PeriodicalIF":0.7,"publicationDate":"2023-07-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48971533","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The collapse of Terra's algorithmic stablecoin UST shocked the cryptocurrency market. This study investigates the underlying causes of the de-pegging event through an in- depth analysis of the token economics of the Terra blockchain. Using on-chain data, this study identifies a misalignment in the economic incentive structure of the blockchain protocol as a key contributor to the de-pegging. It is found that an undercompensation of UST when it was redeemed played a significant role in the de-pegging event, with the UST price on cryptocurrency exchanges following the redeemed value of UST that users could obtain by swapping UST for LUNA and selling it on the market. The results highlight the importance of properly designing the incentive structure of blockchain protocols to ensure their sustainability and security.
{"title":"A Token Economics Explanation for the De-Pegging of the Algorithmic Stablecoin: Analysis of the Case of Terra","authors":"Jae-Hwi Cho","doi":"10.5195/ledger.2023.283","DOIUrl":"https://doi.org/10.5195/ledger.2023.283","url":null,"abstract":"\u0000\u0000\u0000The collapse of Terra's algorithmic stablecoin UST shocked the cryptocurrency market. This study investigates the underlying causes of the de-pegging event through an in- depth analysis of the token economics of the Terra blockchain. Using on-chain data, this study identifies a misalignment in the economic incentive structure of the blockchain protocol as a key contributor to the de-pegging. It is found that an undercompensation of UST when it was redeemed played a significant role in the de-pegging event, with the UST price on cryptocurrency exchanges following the redeemed value of UST that users could obtain by swapping UST for LUNA and selling it on the market. The results highlight the importance of properly designing the incentive structure of blockchain protocols to ensure their sustainability and security.\u0000\u0000\u0000","PeriodicalId":36240,"journal":{"name":"Ledger","volume":" ","pages":""},"PeriodicalIF":0.7,"publicationDate":"2023-04-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48581027","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Matthew Tiger McDonald, K. S. Hayibo, Finn Hafting, J. Pearce
Solar photovoltaic (PV) technology offers a promising means to alleviate environmental and electricity costs challenges for cryptocurrency miners. To analyze this promise, this study investigated the feasibility of using electricity from individually optimized PV systems to power: 1) an individual Bitcoin miner, 2) a DIY intermodal shipping container holding 50 miners, and 3) a commercial mining farm container holding 408 miners. In a controlled lab environment, miners were monitored for electricity use. Then using these values, numerical simulations of both the PV system yield and sensitivity ranges based on the Bitcoin price, Bitcoin halving events, and miner hardware were investigated for informed financial planning. In addition, sensitivity for geographic locations in North America, utility electric rates and PV capital costs were analyzed. The profitability and return on investment (ROI) varied by location primarily because of the geographic distribution of solar flux and utility rates. The ROI for using PV with Bitcoin mining was found to be negative for Toronto and Montreal because of low-cost electricity, while it was 8% for Calgary. In the U.S. cities evaluated, the ROIs were substantial and ranged from 34% in New York, to 64% in Boulder, and up to 104% in Los Angeles. Although the study is based in North America regarding energy rates, climate, and energy laws, the analysis methodology is generalizable globally and grants the average cryptocurrency business the knowledge to make an informed decision on whether to pursue this venture from a financial and environmental perspective. This study contributes to the body of knowledge in cryptocurrency mining by providing an economic means of environmental preservation by powering cryptocurrency miners with renewable solar energy.
{"title":"Economics of Open-Source Solar Photovoltaic Powered Cryptocurrency Mining","authors":"Matthew Tiger McDonald, K. S. Hayibo, Finn Hafting, J. Pearce","doi":"10.2139/ssrn.4205879","DOIUrl":"https://doi.org/10.2139/ssrn.4205879","url":null,"abstract":"Solar photovoltaic (PV) technology offers a promising means to alleviate environmental and electricity costs challenges for cryptocurrency miners. To analyze this promise, this study investigated the feasibility of using electricity from individually optimized PV systems to power: 1) an individual Bitcoin miner, 2) a DIY intermodal shipping container holding 50 miners, and 3) a commercial mining farm container holding 408 miners. In a controlled lab environment, miners were monitored for electricity use. Then using these values, numerical simulations of both the PV system yield and sensitivity ranges based on the Bitcoin price, Bitcoin halving events, and miner hardware were investigated for informed financial planning. In addition, sensitivity for geographic locations in North America, utility electric rates and PV capital costs were analyzed. The profitability and return on investment (ROI) varied by location primarily because of the geographic distribution of solar flux and utility rates. The ROI for using PV with Bitcoin mining was found to be negative for Toronto and Montreal because of low-cost electricity, while it was 8% for Calgary. In the U.S. cities evaluated, the ROIs were substantial and ranged from 34% in New York, to 64% in Boulder, and up to 104% in Los Angeles. Although the study is based in North America regarding energy rates, climate, and energy laws, the analysis methodology is generalizable globally and grants the average cryptocurrency business the knowledge to make an informed decision on whether to pursue this venture from a financial and environmental perspective. This study contributes to the body of knowledge in cryptocurrency mining by providing an economic means of environmental preservation by powering cryptocurrency miners with renewable solar energy.","PeriodicalId":36240,"journal":{"name":"Ledger","volume":"8 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2023-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48160301","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Matthew Tiger McDonald, Koami Soulemane Hayibo, Finn Hafting, Joshua Pearce
Solar photovoltaic (PV) technology offers a promising means to alleviate environmental and electricity costs challenges for cryptocurrency miners. To analyze this promise, this study investigated the feasibility of using electricity from individually optimized PV systems to power: 1) an individual Bitcoin miner, 2) a DIY intermodal shipping container holding 50 miners, and 3) a commercial mining farm container holding 408 miners. In a controlled lab environment, miners were monitored for electricity use. Then using these values, numerical simulations of both the PV system yield and sensitivity ranges based on the Bitcoin price, Bitcoin halving events, and miner hardware were investigated for informed financial planning. In addition, sensitivity for geographic locations in North America, utility electric rates and PV capital costs were analyzed. The profitability and return on investment (ROI) varied by location primarily because of the geographic distribution of solar flux and utility rates. The ROI for using PV with Bitcoin mining was found to be negative for Toronto and Montreal because of low-cost electricity, while it was 8% for Calgary. In the U.S. cities evaluated, the ROIs were substantial and ranged from 34% in New York, to 64% in Boulder, and up to 104% in Los Angeles. Although the study is based in North America regarding energy rates, climate, and energy laws, the analysis methodology is generalizable globally and grants the average cryptocurrency business the knowledge to make an informed decision on whether to pursue this venture from a financial and environmental perspective. This study contributes to the body of knowledge in cryptocurrency mining by providing an economic means of environmental preservation by powering cryptocurrency miners with renewable solar energy.
{"title":"Economics of Open-Source Solar Photovoltaic Powered Cryptocurrency Mining","authors":"Matthew Tiger McDonald, Koami Soulemane Hayibo, Finn Hafting, Joshua Pearce","doi":"10.5195/ledger.2023.278","DOIUrl":"https://doi.org/10.5195/ledger.2023.278","url":null,"abstract":"Solar photovoltaic (PV) technology offers a promising means to alleviate environmental and electricity costs challenges for cryptocurrency miners. To analyze this promise, this study investigated the feasibility of using electricity from individually optimized PV systems to power: 1) an individual Bitcoin miner, 2) a DIY intermodal shipping container holding 50 miners, and 3) a commercial mining farm container holding 408 miners. In a controlled lab environment, miners were monitored for electricity use. Then using these values, numerical simulations of both the PV system yield and sensitivity ranges based on the Bitcoin price, Bitcoin halving events, and miner hardware were investigated for informed financial planning. In addition, sensitivity for geographic locations in North America, utility electric rates and PV capital costs were analyzed. The profitability and return on investment (ROI) varied by location primarily because of the geographic distribution of solar flux and utility rates. The ROI for using PV with Bitcoin mining was found to be negative for Toronto and Montreal because of low-cost electricity, while it was 8% for Calgary. In the U.S. cities evaluated, the ROIs were substantial and ranged from 34% in New York, to 64% in Boulder, and up to 104% in Los Angeles. Although the study is based in North America regarding energy rates, climate, and energy laws, the analysis methodology is generalizable globally and grants the average cryptocurrency business the knowledge to make an informed decision on whether to pursue this venture from a financial and environmental perspective. This study contributes to the body of knowledge in cryptocurrency mining by providing an economic means of environmental preservation by powering cryptocurrency miners with renewable solar energy.","PeriodicalId":36240,"journal":{"name":"Ledger","volume":"61 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135891771","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Note from the Editors","authors":"Richard Ford Burley","doi":"10.5195/ledger.2022.296","DOIUrl":"https://doi.org/10.5195/ledger.2022.296","url":null,"abstract":"","PeriodicalId":36240,"journal":{"name":"Ledger","volume":"1 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2023-02-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43588088","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Unlinkability is a crucial property of cryptocurrencies that protects users from deanonymization attacks. However, currently, even anonymous cryptocurrencies do not necessarily attain unlinkability under specific conditions. For example, Mimblewimble, which is considered to attain coin unlinkability using its transaction kernel offset technique, is vulnerable under the assumption that privacy adversaries can send their coins to or receive coins from the challengers. This paper first illustrates the privacy issue in Mimblewimble that could allow two colluded adversaries to merge a person’s two independent chunks of personally identifiable information (PII) into a single PII. To analyze the privacy issue, we formulate unlinkability between two sets of objects and a privacy adversary model in cryptocurrencies called the counterparty adversary model. On these theoretical bases, we define an abstract model of blockchain-based cryptocurrency transaction protocols called the coin transfer system, and unlinkability over it called coin transfer unlinkability (CT-unlinkability). Furthermore, we introduce zero-knowledgeness for the coin transfer systems to propose a method to easily prove the CT-unlinkability of cryptocurrency transaction protocols. Finally, we prove that Zerocash is CT-unlinkable by using our proving method to demonstrate its effectiveness.
{"title":"Coin Transfer Unlinkability Under the Counterparty Adversary Model","authors":"Takeshi Miyamae, Kanta Matsuura","doi":"10.5195/ledger.2022.260","DOIUrl":"https://doi.org/10.5195/ledger.2022.260","url":null,"abstract":"\u0000\u0000\u0000Unlinkability is a crucial property of cryptocurrencies that protects users from deanonymization attacks. However, currently, even anonymous cryptocurrencies do not necessarily attain unlinkability under specific conditions. For example, Mimblewimble, which is considered to attain coin unlinkability using its transaction kernel offset technique, is vulnerable under the assumption that privacy adversaries can send their coins to or receive coins from the challengers. This paper first illustrates the privacy issue in Mimblewimble that could allow two colluded adversaries to merge a person’s two independent chunks of personally identifiable information (PII) into a single PII. To analyze the privacy issue, we formulate unlinkability between two sets of objects and a privacy adversary model in cryptocurrencies called the counterparty adversary model. On these theoretical bases, we define an abstract model of blockchain-based cryptocurrency transaction protocols called the coin transfer system, and unlinkability over it called coin transfer unlinkability (CT-unlinkability). Furthermore, we introduce zero-knowledgeness for the coin transfer systems to propose a method to easily prove the CT-unlinkability of cryptocurrency transaction protocols. Finally, we prove that Zerocash is CT-unlinkable by using our proving method to demonstrate its effectiveness.\u0000\u0000\u0000","PeriodicalId":36240,"journal":{"name":"Ledger","volume":"1 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2022-08-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42172018","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Achilleas Tzenetopoulos, Dimosthenis Masouros, Nikolaos Kapsoulis, A. Litke, D. Soudris, T. Varvarigou
. In the past several years, there has been an increased usage of smart, always-connected devices at the edge of the network, which provide real-time contextual information with low overhead to optimize processes and improve how companies and individuals interact, work, and live. The efficient management of this huge pool of devices requires runtime monitoring to identify potential performance bottlenecks and physical defects. Typical solutions, where monitoring data are aggregated in a centralized manner, soon become inefficient, as they are unable to handle the increased load and become single points of failure. In addition, the resource-constrained nature of edge devices calls for low-overhead monitoring systems. In this paper, we propose HLF-Kubed , a blockchain-based, highly available framework for monitoring edge devices, leveraging distributed ledger technology. HLF-Kubed builds upon Kubernetes container orchestrator and HyperLedger Fabric frameworks and implements a smart contract through an external chaincode for resource usage storing and querying. Our experimental results show that our proposed setup forms a low-overhead monitoring solution, with an average of 448 MB of memory and 6.8% CPU usage, while introducing 1.1s end-to-end latency for store operation and 0.6s for ledger querying respectively.
{"title":"HLF-Kubed: Blockchain-Based Resource Monitoring for Edge Clusters","authors":"Achilleas Tzenetopoulos, Dimosthenis Masouros, Nikolaos Kapsoulis, A. Litke, D. Soudris, T. Varvarigou","doi":"10.5195/ledger.2022.230","DOIUrl":"https://doi.org/10.5195/ledger.2022.230","url":null,"abstract":". In the past several years, there has been an increased usage of smart, always-connected devices at the edge of the network, which provide real-time contextual information with low overhead to optimize processes and improve how companies and individuals interact, work, and live. The efficient management of this huge pool of devices requires runtime monitoring to identify potential performance bottlenecks and physical defects. Typical solutions, where monitoring data are aggregated in a centralized manner, soon become inefficient, as they are unable to handle the increased load and become single points of failure. In addition, the resource-constrained nature of edge devices calls for low-overhead monitoring systems. In this paper, we propose HLF-Kubed , a blockchain-based, highly available framework for monitoring edge devices, leveraging distributed ledger technology. HLF-Kubed builds upon Kubernetes container orchestrator and HyperLedger Fabric frameworks and implements a smart contract through an external chaincode for resource usage storing and querying. Our experimental results show that our proposed setup forms a low-overhead monitoring solution, with an average of 448 MB of memory and 6.8% CPU usage, while introducing 1.1s end-to-end latency for store operation and 0.6s for ledger querying respectively.","PeriodicalId":36240,"journal":{"name":"Ledger","volume":"7 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70754387","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Note on the Cover Art for Volume 6 (2021)","authors":"Ledger","doi":"10.5195/ledger.2021.259","DOIUrl":"https://doi.org/10.5195/ledger.2021.259","url":null,"abstract":"","PeriodicalId":36240,"journal":{"name":"Ledger","volume":"1 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2021-12-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45337853","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
京公网安备 11010802042870号
京ICP备2023020795号-1
扫码关注我们
求助内容：
应助结果提醒方式：