Research Guide for Blockchain Resource Fairness Systems

Research Guide for Blockchain Resource Fairness Systems

Glossary

Term Definitions Blockchain A continuously growing list of records, often using cryptographic techniques, such as storing cryptographic hashes related to other blocks. Distributed Ledger A ledger that is replicated in whole or in part across multiple computers. Cryptographic Distributed Ledger (CDL) A ledger that has one or more of the following properties: Irreversibility (transactions cannot be invalidated once recorded), Accessibility (any stakeholder can access the CDL in whole or in part), Timestamping (all stakeholders know when a transaction was added to the ledger), Consensus-based (transactions are added only when stakeholders on the network generally agree), Verifiability (all transactions can be verified cryptographically). Permissioned Blockchain A private blockchain network or a blockchain network that requires permission to join and participate. Validator A node responsible for verifying transactions and adding them to the blockchain. Incentives A system that encourages nodes to participate in a blockchain network and function as intended. Bid The amount of money submitted by a validator for the right to validate a transaction. Transaction parameters Values ​​calculated by the incentive management function based on bids submitted by validators, such as transaction price and number of transactions per node. Transaction Fee A fee paid by a user for processing a transaction on a blockchain. The amount paid back to a validator to compensate it for validating a transaction. Smart contracts are program codes stored on the blockchain that are automatically executed when the relevant conditions are met. Short Answer Questions

What is a distributed ledger and how is it different from a traditional ledger?

A distributed ledger is a ledger that is replicated in whole or in part on multiple computers, while traditional ledgers are usually centrally controlled by a single entity. Distributed ledgers have higher transparency, security, and tamper-proof capabilities than traditional ledgers.

Explain the difference between permissioned blockchains and public blockchains.

Permissioned blockchains are private blockchain networks or blockchain networks that require permission to join and participate, while public blockchain networks allow anyone to join and participate. Permissioned blockchains are often used in enterprise environments, while public blockchains are more decentralized.

What role do validators play in a blockchain network?

Validators are responsible for verifying transactions and adding them to the blockchain. They reach agreement by running a consensus algorithm to ensure that all nodes agree on the state of the blockchain.

Describe the Proof of Work (PoW) consensus mechanism.

Proof of Work (PoW) is a consensus mechanism that requires nodes to perform complex calculations to solve mathematical problems in order to gain the right to add a new block to the blockchain. The first node to solve the problem receives a block reward and its block is added to the blockchain.

How is Proof of Stake (PoS) different from Proof of Work?

Unlike Proof of Work (PoW), Proof of Stake (PoS) does not require nodes to perform complex calculations. Instead, nodes gain the right to verify blocks based on the amount and time of cryptocurrency they hold.

What is a smart contract and how does it work on the blockchain?

Smart contracts are program codes stored on the blockchain that are automatically executed when predefined conditions are met. They allow for trustworthy transactions without a third party.

Explain how the incentive mechanism proposed in this paper solves the problem of resource fairness.

The incentive mechanism proposed in this paper solves the problem of resource fairness by introducing a bid and return mechanism. Nodes can express their willingness to verify transactions by submitting bids and receive returns based on their bid ratio.

How are transaction parameters calculated and what role do they play in the incentive mechanism?

Transaction parameters, such as transaction price and number of transactions per node, are calculated by the incentive management function based on the bids submitted by validators. They determine the cost of transactions and the rebates received by nodes.

Describe how rebates are distributed to validators.

Rebates are distributed to validators by updating the fee ledger. The fee ledger records the bids and rebates of each node. Rebates are distributed to nodes at predetermined intervals.

In addition to transaction fees, what other methods can be used to fund nodes in a blockchain network?

In addition to transaction fees, nodes in a blockchain network can also be funded through the following methods: token issuance, service fees, sponsorship, and donations.

Paper title

Analyze and compare the incentive mechanism proposed in this paper with other existing blockchain incentive mechanisms (such as PoW and PoS).

Explore the applicability and limitations of the incentive mechanism in different types of blockchain networks (such as public chains, private chains, and consortium chains).

Evaluate the impact of the incentive mechanism on the performance of blockchain networks (such as throughput, latency, and security).

Analyze how the incentive mechanism affects the behavior of nodes and how to prevent potential attacks or manipulation.

Explore the possibility of applying the incentive mechanism to other distributed systems that require resource fairness.