BMS COLLEGE OF ENGINEERING, BANGALORE – 560019

(Autonomous Institute, Affiliated to VTU)

A report on

Seminar based on Summer / Winter Internship

“Ethereum Blockchain”

Submitted by:

Anil Kumar Sharma (1BM19IS055)

Under the guidance of

Nalina V

Associate Professor

Department of Information Science and Engineering

2021-22 (Even Semester)

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 B.M.S. COLLEGE OF ENGINEERING
(Autonomous College under VTU)
Bull Temple Road, Basavanagudi, Bangalore – 560019

CERTIFICATE

Certified that the Technical Seminar has been successfully presented at B.M.S. College Of
Engineering by Anil Kumar Sharma bearing USN: 1BM19IS022 in partial fulfillment of the
requirements for the VI Semester degree in Bachelor of Engineering in Information Science &
Engineering of Visvesvaraya Technological University, Belagavi as a part of for the course
Seminar Based on Summer/Winter Internship Course Code – 20IS6SRITR during academic
year 2021-2022

Faculty Name : Nalina V

Designation : Associate Professor

Signature :

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 CONTENTS
S. NO TITLE PAGE NO.

1. ABSTRACT 4

2. RELEVANCE OF THE TOPIC 5

3. DOMAIN KNOWLEDGE 6

4. APPLICATION OF THE DOMAIN- PROS AND CONS 10

5. LITERATURE SURVEY 11

6. CONCLUSION 18

7. HANDOUTS OF PPT 19

8. REFERENCES 26

Course: Seminar Based on Summer/Winter Internship

Course code: 20IS6SRITR

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 ABSTRACT

At its core, Ethereum is a decentralized global software platform powered by blockchain technology.
It is most commonly known for its native cryptocurrency, ether, or ETH.Ethereum can be used by
anyone to create any secured digital technology. It has a token designed for use in the blockchain
network, but it can also be used by participants as a method to pay for work done on the blockchain.
Ethereum is designed to be scalable, programmable, secure, and decentralized. It is the blockchain
of choice for developers and enterprises that are creating technology based upon it to change the
way many industries operate and how we go about our daily lives.It natively supports smart
contracts, the essential tool behind decentralized applications. Many decentralized finance (DeFi)
and other applications use smart contracts in conjunction with blockchain technology.

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 RELEVANCE OF THE TOPIC

Vitalik Buterin, credited with conceiving of Ethereum, published a white paper to introduce it in
2014.3 The Ethereum platform was launched in 2015 by Buterin and Joe Lubin, founder of the
blockchain software company ConsenSys.The founders of Ethereum were among the first to
consider the full potential of blockchain technology beyond just enabling the secure virtual payment
method.Since the launch of Ethereum, ether as a cryptocurrency has risen to become the
second-largest cryptocurrency by market value. It is outranked only by Bitcoin.

Blockchain TechnologyEthereum, like other cryptocurrencies, involves blockchain technology.

Imagine a very long chain of blocks. All of the information contained in each block is added to
every newly-created block with new data. Throughout the network, an identical copy of the
blockchain is distributed.This blockchain is validated by a network of automated programs that
reach a consensus on the validity of transaction information. No changes can be made to the
blockchain unless the network reaches a consensus. This makes it very secure.Consensus is reached
using a protocol referred to as a consensus mechanism. Ethereum uses the proof-of-work protocol,
where a network of participants runs software that attempts to prove that an encrypted number is
valid.This is called mining. The first miner to prove the validity of the number is rewarded in ether.
A new block is opened on the blockchain, information from the previous block is encrypted and
placed into the new block along with new data, and the mining process begins again.

● Ethereum is a blockchain-based platform best known for its cryptocurrency, ETH.

● The blockchain technology that powers Ethereum enables secure digital ledgers to be
publicly created and maintained.
● Bitcoin and Ethereum have many similarities but different long-term visions and limitations.
● Ethereum is transitioning to an operational protocol that offers incentives to process
transactions to those who stake their ETH.
● Ethereum is the foundation for many emerging technological advances.

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 DOMAIN KNOWLEDGE

Attributes of a blockchain:-
Attribu Explanation
tes

Immuta It is also known as irreversibility. The data can hardly be modified

ble or deleted after the data has been approved by all nodes in the
blockchain.

Decentr Blockchain is a decentralized management

alized technique of Bitcoin,Ehtereum. There is no central storage. This
may minimize the disruption risks. It supports decentralized
decision-making.

Trust The trust is different from conventional trust. Blockchain creates

trustless networks by using sophisticated math. Business partners
can trade together without knowing each other.

Tran The data is almost simultaneously validated and broadcasted to all

spare nodes in blockchains. The transactions or records cannot be hidden
ncy so this creates more trust and adds value to the business system.
and
Visib Advanced computational logic, cryptographic technology and a
ility distributed decentralized network offer a secure environment.
Moreover, it provides not only confidentiality, but also authenticity
and nonrepudiation to all activities.
Security

Global Blockchain technologies rely on shared information. It can be

Networ extended globally. It is a standardized global network.
k

Immutable
In a blockchain, all the transactions or records are sorted by hashing function into a series of
blocks, and each block is chained. Hashing and cryptography are used to create data stored in
blockchain which is almost immutable due to the tremendous amount of computing power that
would be required to manipulate the original state of the block. This does not only allow different
parties in the networks to transfer value or assets, but also creates a trustless network by using
sophisticated math. Although immutable may be considered as a dimension of security, this

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unique attribute can have important practical implications in the business world

Trust
Blockchain provides a new trust mechanism, which relies on cryptographic technology and a
distributed decentralized network. Moreover, blockchain does not require trust in a third party. A
good relationship based on mutual trust plays a vital role for the supply chain. Blockchain system
is running without trust concerns, making a transaction trust free. This attribute of blockchain
enables different business partners to work together without the conventional trust. In addition, a
blockchain network facilitates information sharing among the supply chain partners. The trustless
network definitely enhances the relationships among different users of the blockchain.

Decentralization
A blockchain is a peer-to-peer network. It changes the way to store and share data. Each member
keeps their own copy of the ledger in a blockchain network. In a decentralized system, data is no
longer stored in a centralized database, and the data is immutable and transparent to all members
in a blockchain. There is no third party to validate a block of transactions. The blockchain
technology enables a digital transition from centrally controlled platforms to decentralized
platform control in the era of Industry 4.0. It also supports distributed manufacturing and
decentralized decision-making, which provide a more flexible environment to all users. For
example, in the automotive manufacturing industry, the manufacturer’s suppliers could change the
delivery schedule due to unexpected issues. Fortunately, all other businesses across the supply
chain will receive this update immediately.Decentralization also adds more security as the data
stored on one node must be validated and broadcasted to all nodes in the network. In other words,
other nodes can back up and prevent a disruption in the event of a node failure. This is an
important attribute to prevent a supply chain disruption due to a centralized information network
failure.

Transparency and Visibility

Transparency and visibility is another important attribute of blockchain. Because blockchain is a
highly decentralized network, which is different from traditional
centralized databases, all the different users can almost simultaneously receive update information
in the network. In supply chains, many business problems and uncertainty can be solved by
sharing real-time information. During the supply chain process, if component modification is to be
updated in the system, and all businesses to be notified, blockchain could effectively update all
relevant users and stakeholders at the same time. For instance, a production ID replacement will
introduce a significant impact on the whole process, hence delivery companies, manufactory and
stock management departments should be aware of this change immediately. Blockchain
technology, in this case, facilitates transparency and visibility in a network.

Security
Security is a multidimensional concept in a blockchain. Security refers to the following aspects.
Firstly, blockchain provides a mechanism to allow all nodes to validate and store the data without
a third party. Secondly, the data stored on blockchains is almost immutable, in other words, it is

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almost impossible to modify, delete or change information or blocks without being detected by
other users. Thirdly, it is almost impossible to hack a blockchain, as mentioned before, a
decentralized network can retrieve and validate the information through the network.

Global Network
The blockchain is still in its infancy. With the development of information technology, blockchain
networks can quickly grow in different areas beyond bitcoin. Consider blockchain as a connecting
mechanism to connect data processing technologies. The attributes of blockchain can be
implemented in different contexts. The blockchain network is based on a peer-to-peer network, as
a result, businesses may no longer need a third party / intermediary to sell the products and/or
services. Blockchains are smart networks, which can interact with different technologies e.g. smart
contracts, Artificial Intelligence (AI), internet of things (IoT), 3-D printing, etc. to totally change
the traditional seller-buyer relationship globally. It may be considered as a disruptive innovation
later. We consider the use of blockchain for supply chain collaboration and integration because it
provides a conceptual idea to collaborate with different nodes/parties/people, and integrates
finance, information, and goods flows and technologies.

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PROS OF ETHEREUM BLOCKCHAIN

Decentralization:The decentralized design of Ethereum effectively distributes knowledge and trust

among network members, removing the need for a central body to run the system and mediate
transactions.

Rapid deployment:Instead of building a blockchain implementation from scratch,

organizations can quickly create and administer private blockchain networks using an all-in-one
SaaS platform like Hyperledger Besu.

Permissioned network:There are many open-source protocol layers that allow enterprises to
build on public or private Ethereum networks, guaranteeing that their solution meets all regulatory
and security standards.

Network size:The Ethereum mainnet demonstrates that a network with hundreds of nodes and
millions of users can function. Most business blockchain competitors run networks with less than ten
nodes and have no precedent for a large and successful network. For corporate collaborations that
are bound to outgrow a few nodes, network scale is important.

Private transactions:In Ethereum, businesses may obtain privacy granularity by joining private
partnerships with private transaction layers. Private information is encrypted and only shared with
those who need to know.

Scalability and performance:Consortium networks created on Ethereum may outperform the

public mainnet and grow up to hundreds of transactions per second or more depending on network
setup, thanks to Proof of Authority consensus and bespoke block time and gas limits. Ethereum will
be able to boost its throughput in the near future thanks to protocol-level solutions like sharding and
off-chain, as well as layer 2 scaling solutions like Plasma and state channels.

Finality:The consensus method of a blockchain ensures that the transaction record is tamper-proof
and canonical. For different enterprise network instances, Ethereum offers customizable consensus
mechanisms such as RAFT and IBFT, ensuring immediate transaction finality and reducing the

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required infrastructure that the Proof of Work algorithm requires.

Tokenization:Any item that has been registered in a digital format can be tokenized on Ethereum.
Organizations may fractionalize formerly monolithic assets (real estate), broaden their product line
(provably rare art), and open new incentive models by tokenizing assets (crowdsourced data
management).

Interoperability and open source:On Ethereum, consortiums are not bound by a single vendor's IT
environment. Customers of Amazon Web Services, for example, can use Kaleido's Blockchain
Business Cloud to run private networks. The Ethereum ecosystem, like the Java community,
encourages contributions to the codebase through Ethereum Improvement Proposals (EIPs).

CONS OF ETHEREUM BLOCKCHAIN

Uses a Complicated Programming Language:While Ethereum is Turing complete and uses a

programming language similar to C++, Python, and Java, learning Solidity, the native language of
Ethereum, may be challenging. One of the most significant concerns is the scarcity of
beginner-friendly classes.

Issues with Scaling:Unlike Bitcoin, which has a singular purpose, Ethereum has a ledger, a platform
for smart contracts, and so on, all of which may lead to errors, malfunctions, and hacks.

Ethereum Investing Can Be Risky: Ethereum investing, like any other cryptocurrency, can be
risky. Cryptocurrencies are very volatile, resulting in significant gains as well as significant losses.
The price of Ether has changed significantly in the past, which might be a significant disadvantage
for certain investors, particularly newbies. In addition, Ethereum's fees change, which is
inconvenient.

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 LITERATURE SURVEY

1.Towards Secure E-Voting Using Ethereum Blockchain​

What makes it a powerful tool for digitizing everyday services is the introduction of smart
contracts, as in the Ethereum platform.​The blockchain with the smart contracts, emerges as a good
candidate to use in developments of safer, cheaper, more secure, more transparent, and
easier-to-use e-voting systems.​In this work, we have implemented and tested a sample e-voting
application as a smart contract for the Ethereum network using the Ethereum wallets and the
Solidity language.​Android platform is also considered to allow voting for people who do not have
an Ethereum wallet.​In addition to a broad discussion about reliability and efficiency of the
blockchain-based e-voting systems, our application and its test results are presented in this paper,
too.​By building this proposed smart contract of ours, we have succeeded in moving e-voting to the
blockchain platform and we addressed some of the fundamental issues that legacy e-voting
systems have, by using the power of the Ethereum network and the blockchain structure.​
​As a result of our trials, the concept of blockchain and the security methodology which it uses,
namely immutable hash chains, has become adaptable to polls and elections.​
This achievement may even pave the way for other blockchain applications that have impact on
every aspect of human life.​E-voting is still a controversial topic within both political and scientific
circles.​On the contrary, blockchain-based e-voting solutions, including the one we have
implemented using the smart contracts and the Ethereum network, address (or may address with
relevant modifications) almost all of the security concerns, like privacy of voters, integrity,
verification and non-repudiation of votes, and transparency of counting.​

2.IoT Public Fog Nodes Reputation System: A Decentralized Solution Using Ethereum
Blockchain​
Public fog nodes extend cloud services for the Internet of Things (IoT) clients and smart devices
to provide additional computation capabilities, storage space, and reduce latency and response
time.​However, these trust models enforce centralized governance policies across the system which
leads towards the single-point-of-failure and single-point-of-compromise over IoT devices' and
users' personal data.​This paper proposes a decentralized trust model in order to maintain the
reputation of publicly available fog nodes.​
The proposed trust model is designed using public Ethereum blockchain and smart contract
technologies in order to enable decentralized trustworthy service provisioning between IoT
devices and public fog nodes.​The results show that using blockchain for decentralized reputation
management could become more advantageous when compared to the existing centralized trust
models​
​
3.A Delay-Tolerant Payment Scheme Based on the Ethereum Blockchain​
Digital banking as an essential service can be hard to access in remote, rural regions where the
network connectivity is unavailable or intermittent.​
We propose a blockchain-based digital payment scheme that can deliver reliable services on top of
unreliable networks in remote regions.​In the proposed system, payment operators deploy multiple
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proxy nodes that are intermittently connected to the remote communities where the local
blockchain networks, such as Ethereum are composed of miners, vendors, and regular users.​
Finally, we demonstrate the practical feasibility of the proposed system by developing Near Field
Communication (NFC)-enabled payment gateways on Raspberry-Pis, a mobile wallet application
and mining nodes on off-the-shelf computers.​We proposed a blockchain-based payment scheme
for intermittently connected regions.​As a result, we have achieved this through a novel use of
smart contracts and a token-based admission control, account management, and mining rewards
distribution.​
Finally, through a comprehensive study of the local blockchain operation, we showed the system
stability under network disturbances and demonstrated the whole system operates well in
resource-constrained, dynamic, intermittently connected environments.​

4.Security Properties of Light Clients on the Ethereum Blockchain​

To overcome this drawback Ethereum defines a light client protocol where the light client fetches
the blockchain state from a node operating as a light protocol server.​
Thus they rely on the light server for full block validation and to provide the updated blockchain
state.​
Ethereum light clients are known to suffer from a probabilistic security model, but they are widely
assumed to be secure under normal operating conditions.​
In fact, the implicit security assumptions of light clients have not been formally characterized in
the literature.​We present and analyses the probabilistic security guarantees under three different
adversarial scenarios.​The results show that for any adversary that is able to manipulate the
network, the security assurances provided by the light protocol are severely impacted, and in some
cases entirely lost.​These results clearly demonstrate that the assumption of normal operating
conditions is insufficient to justify the security assumptions of light clients.​
Our work also provides insight to the security of light clients under different security parameters,
allowing light client implementers to more accurately understand the potential security trade-offs​
​
5.DecAuth: Decentralized Authentication Scheme for IoT Device Using Ethereum
Blockchain​
Internet of Things (IoT) has lots of attention in the last decade.​There exists some security and
privacy challenges in IoT system.​The device identification is one of the challenges in any IoT
application.​In this paper, we have proposed a distributed authentication system using the
Blockchain technology The implementation of the proposed authentication is done on Ethereum
platform for its better results in order to justify it as a superior scheme.​Internet of Things is one of
the most emerging technology.​The use of IoT in different application improved the living standard
of the human being in different applications like smart home, smart city, smart transportation,
smart healthcare systems.​In this paper, a DecAuth(Decentralized Authentication) scheme is
proposed using the Blockchain concept in ethereum platform for its efficacy.​
The experimental results show that the authentication of the IoTdevice can be done in
decentralized way.​
​
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6.An exploratory study of smart contracts in the Ethereum blockchain platform​
Ethereum is a blockchain platform .​The Ethereum platform was crowdfunded in the second
semester of 2014 and raised approximately US$15.6 million.1 As of August 2018, the Ethereum
platform has achieved an impressive market capitalization of US$42.3 billion.2 The Ethereum
platform is slowly gaining more and more attention from the media, with articles about it in
traditional media outlets such as The Economist (2018) and The New York Times (2017).​
Enterprise versions of the Ethereum platform are also already being conceived with the support of
industry leading companies such as Intel, Microsoft, J.P. Morgan, and Accenture.3 At the heart of
the Ethereum platform are smart contracts (Szabo 1994).​A smart contract is simply a
non-modifiable general purpose computer program.​Different from app stores, Ethereum not only
hosts smart contracts, but also executes them.​Smart contracts have been successfully used to
implement crowdfunding initiatives for startup companies.​
​What is the activity level of smart contracts? Activity is concentrated on a very small subset of the
contracts. More specifically, only 0.05% of the smart contracts are the target of 80% of the
transactions that are sent to contracts. The source code is available for 73.1% of these
high-activity contracts​What are the categories of high-activity smart contracts? Despite the hype
around blockchain-powered applications and their presumable suitability for several use-cases,
our results suggest that at least 41.3% of the high-activity contracts revolve around transferring,
selling, and distributing tokens. In particular, 5 out of the top-10 contracts with highest activity
belong to Currency Exchange ÐApps. H ​ ow complex is the source code of verified smart
contracts? The source code of high-activity verified contracts is small, with at most 211
instructions in 80% of the cases. These contracts also commonly include at least two subcontracts
and libraries in their source code. The comment ratio of these contracts is significantly higher than
that of GitHub top-starred projects written in Java, C++, and C#​
​The growing number of smart contracts being deployed in the Ethereum blockchain platform has
attracted the attention of media outlets, industries, and researchers. Nonetheless, prior research has
focused on particular aspects of smart contracts, such as their security, while rarely putting
findings in a bigger context (e.g., how frequently a smart contract is being used).​
​Relying on cross-linked data collected from Google BigData, Etherscan, State of the ÐApps, and
Coin MarketCap, we conclude that: – Activity level is concentrated on a very small subset of the
contracts and almost three quarters of them are verified. – Despite the hype around
blockchain-powered applications, the main application of smart contracts is still constrained to
token management (e.g., ICOs, Crowdsales, etc). – The source code of high-activity verified
contracts is small, commonly includes at least 2 libraries/subcontracts, and is extensively
documented.​
7.Decentralized document version control using ethereum blockchain and IPFS:​We present a
blockchain-based solution for document version control for digital documents using Ethereum
smart contracts. Our proposed solution eliminates the requirement of a trusted third-party
authenticator between the developers and the approvers. ​We highlight key aspects of our
blockchain solution in terms of the overall system design and architecture, featuring main
interactions among participants. These aspects are generic enough to be extended and applied for
the version control of any form of documents in industries such as healthcare, finance, and land
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registry departments.​We discuss key issues related to the registration of new developers or
approvers, approval of new registrations, logical flow and interactions, implementation and testing
of the overall system functionality. ​We perform the vulnerability and security analysis on the
smart contract code to check for commonly known bugs and vulnerabilities.​

8.Blockchain Technology, Bitcoin, and Ethereum: A Brief Overview​

Blockchain technology is a relatively new approach in the field of information technologies. As
one of its first implementations, bitcoin as a cryptocurrency has gained a lot of attention. Together
with Ethereum, blockchain implementation with focus on smart contracts, they represent the very
core of modern cryptocurrency development.​Bitcoin and blockchain technology have begun to
shape and define new aspects in computer science and information technology. The need for
decentralized money has been exploited more as a theoretical concept, but in the past decade, it
became viable, all thanks to the famous paper of Satoshi Nakamoto in 2008, introducing Bitcoin
and blockchain technology. ​Bitcoin and Ethereum today are the most known and valuable
cryptocurrencies. They are based on blockchain technology that is intended to promote a trust
mechanism in a peer-to-peer network based on the consensus of the majority of the nodes.​In the
past few years, there has been a rapid growth of numerous cryptocurrencies, hashing algorithms,
and consensus agreements in the networks. Some of the cryptocurrencies worth mentioning are
Ripple, Cardano, NEO, Stellar, Litecoin, EOS, IOTA, Dash, Monero, TRON, Qtum, Lisk, Tether,
Stratis, Zcash, Steem, Siacoin, Verge, Electroneum, Nxt, Dogecoin, and many more​

9.Ethna: Analyzing the Underlying Peer-to-Peer Network of Ethereum Blockchain

​First introduced in Bitcoin by Satoshi Nakamoto,blockchain is a secure, verifiable and
tamper-proof distributed ledger for supporting digital asset transactions [1].With the ability to
achieve consensus over a permissionless decentralized network [2, 3], blockchain has become a
disruptive technology in the fields of FinTech [4], Internet of Things (IoT) and supply chains .​
In 2014, Ethereum introduces smart contract to blockchain to fulfill various Turing-complete
computing tasks in a decentralized manner .​The next generation blockchain will further boost the
performance by adopting cutting-edge technologies such as novel consensus protocols,
cross-chain methods, and sharding.​Most nodes in the Ethereum P2P network have degrees less
than 50, the default maximum number of neighbor nodes allowed to connect with the node when
starting the node; there are a few super nodes with very high degrees. The degree distribution of
all the network nodes presents a power-law distribution, which characterizes scale-free networks. ​
The average delay to broadcast a transaction to the whole Ethereum P2P network is around 200
ms. It takes 3-4 hops to broadcast a new block or a new transaction to the whole network,
indicating that the Ethereum P2P network has a certain effect of small world networks.​
​
10.A Decentralized Marketplace Application on The Ethereum Blockchain​ Aside from its
cryptocurrency applications, blockchains can also be used as a platform to build truly
decentralized applications with no central point of failure and no hierarchical ownership of user
data.​This has significant advantages for data security, privacy, and ownership, as well as the
potential to dramatically reduce middle-man costs.​
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The issue of user trust in decentralized applications that run on a blockchain platform is one that
has been studied [3] and developed on recently, and it is now possible to build application that the
user can trust with their money.​A decentralized application on a blockchain would reduce costs
associated with using the platform while giving users more control of their data and information.​
As centralized marketplaces have the ability to compromise and sell user data, blockchain is a
suitable platform to create such a marketplace on.​The ideal platform to develop such an
application is on the Ethereum blockchain, as it has been designed from the ground-up to provide
developers with tools to build decentralized applications on its blockchain​
​
11.Verifiable Sealed-Bid Auction on the Ethereum Blockchain​
In this paper, we tackle this challenge and present a smart contract for a verifiable sealed-bid
auction on the Ethereum blockchain.​Then, according to the auction rules,the auctioneer
determines and claims the winner of the auction.​Finally we utilize interactive zero-knowledge
proof protocols between the smart contract and the auctioneer to verify the correctness of such a
claim.​The underlying protocol of the proposed smart contract is partially privacy preserving.​
We provide an analysis of the proposed protocol and the smart contract design, in addition to the
estimated gas costs associated with the different transactions​
Online auctions have played an important role in the world economy by transferring trillions of
dollars in exchange for goods and services in the recent decades​
​1. First-price sealed-bid auctions (FPSBA). Bidders submit their bids in sealed envelopes and
hand them to the auctioneer. Subsequently, the auctioneer opens the envelopes to determine the
bidder with the highest bid.​
2. Second-price sealed-bid auctions (Vickrey auctions). It is similar to FPSBA with the exception
that the winner pays the second highest bid instead. ​
​3. Open ascending-bid auctions (English auctions). Bidders increasingly submit higher bids and
stop bidding when they are not willing to pay more than the current highest bid. ​
​4. Open descending-bid auctions (Dutch auctions). Auctioneer initially sets a high price, which is
gradually decreased until a bidder decides to pay at the current price​
​In this paper, we presented a smart contract for a verifiable sealed-bid auction on the Ethereum
blockchain.​The auction contract maintains the privacy of bids such that bidders do not learn any
information about the other bids when they commit.​
Additionally, the auction contract also exhibits the public verifiable correctness as it is designed to
verify the proofs claimed by the auctioneer to determine the winner.​
The proposed protocol can be easily modified to support the full privacy of all bids including the
winner's bid if there is a desire to receive the payment of winning bid aside from the blockchain.​

12.XBlock-ETH: Extracting and Exploring Blockchain Data From Ethereum

​However, the absence of well-processed up-to-date blockchain datasets impedes big data analytics
of blockchain data.​To fill this gap, we collect and process the up-to-date on-chain data from
Ethereum, which is one of the most popular permissionless blockchains.​
We name such well-processed Ethereum data as XBlock-ETH, which consists of transactions,
smart contracts, and cryptocurrencies (i.e., tokens).​Furthermore, we also outline the possible
15
research opportunities based on XBlock-ETH, with the data and code released online.​
Among the diverse blockchain systems, substantial efforts have been made on the permissionless
blockchain (or public blockchain)due to its decentralization .​
Ethereum is another most popular permissionless blockchain system that enables Turing-complete
smart contracts.​The proliferation of blockchain systems has lead to the generation of the massive
amount of blockchain data.​In this paper, we focus on the data of Ethereum rather than Bitcoin,
since Ethereum provides richer data types.​
13.Function-Level Bottleneck Analysis of Private Proof-of-Authority Ethereum Blockchain​
In this paper, we perform a deep function-level bottleneck analysis for the private Ethereum
blockchain.​As the Ethereum client application is developed with golang, we leverage pprof, which
is a resource profiling tool for golang, and custom golang functions to measure the time taken by
functions.​To easily configure parameters and conduct our test, we code a shell script that
automates the building process of a private Ethereum blockchain with docker containers.​
In addition, we also found that the multi-threading is not well utilized, meaning that there is much
room for improvement​
The contribution of this paper is three-fold. ​
1) We have developed a series of codes to easily configure parameters and build and test a private
Ethereum blockchain.​
2) We have disclosed the developed toolset at our github repository so that other researchers can
reproduce our results.​
3) We have identified the bottleneck functions in a private Ethereum blockchain by analyzing the
results of our experiments
14.A Blockchain-Based Approach Towards Overcoming Financial Fraud in Public Sector
Services​.
In financial markets it is common for companies and individuals to invest into foreign companies.​
​To avoid the double taxation of investors on dividend payment – both in the country where the
profit is generated as well as the country of residence​Most governments have entered into bilateral
double taxation treaties, whereby investors can claim a tax refund in the country where the profit
is generated.​.Due to easily forgeable documents and insufficient international exchange of
information between tax authorities, investors illegitimately apply for these tax returns causing an
estimated damage of 1.8 billion USD, for example, in Denmark alone.​This paper assesses the
potential of a blockchain database to provide a feasible solution for overcoming this problem
against the backdrop of recent advances in the public sector and the unique set of blockchain
capacities.​Towards this end, we develop and evaluate a blockchain-based prototype system aimed
at eliminating this type of tax fraud and increasing transparency regarding the flow of dividends.​
While the prototype is based on the specific context of the Danish tax authority, we discuss how it
can be generalized for tracking international and interorganizational transactions.​
​
15.Effective Taxation System by Blockchain Technology​
Governments incur costs when collecting taxes. It is, therefore, important for a government to
ensure the efficiency of its tax collection system and to collect taxes in such a way that only
minimal costs are incurred.Providing transparent, controllable, secure, and real-time information
16
is vital in terms of ensuring the effectiveness of a tax collection system.​
Changes and developments in information and communication technologies have prompted the
public sector to identify new ways to collect taxes.​In recent years, discussions regarding the
applicability of blockchain technology (or, more commonly referred to as crypto coins), for the
public sector have emerged.​In this study, the applicability of blockchain technology for use in a
tax system is discussed. The properties and benefits of different blockchain technologies are
analyzed in terms of both data and transparency. It has been concluded that blockchain technology
could be applied in a number of areas to reduce the administrative tax burden and the costs
associated with tax collection.​This study, therefore, attempts to explain the applicability of
blockchain technology in relation to taxation, and it clarifies​
(1) how blockchain technology represents a new approach to taxation,​
(2) how blockchain technology reduces tax expenditure​
(3) how blockchain technology increases both transparency and accountability, (4) how tax
evasion can be reduced using blockchain technology.​
taxes in such a way that only minimal costs are incurred. 2.Providing transparent, controllable,
secure, and real-time information is vital in terms of ensuring the effectiveness of a tax collection
system.3.Changes and developments in information and communication technologies have
prompted the public sector to identify new ways to collect taxes.4.In recent years, discussions
regarding the applicability of blockchain technology (or, more commonly referred to as crypto
coins), for the public sector have emerged.5.In this study, the applicability of blockchain
technology for use in a tax system is discussed. The properties and benefits of different blockchain
technologies are analyzed in terms of both data and transparency. It has been concluded that
blockchain technology could be applied in a number of areas to reduce the administrative tax
burden and the costs associated with tax collection.6.
This study, therefore, attempts to explain the applicability of blockchain technology in relation to
taxation, and it clarifies (1) how blockchain technology represents a new approach to taxation, (2)
how blockchain technology reduces tax expenditure, (3) how blockchain technology increases
both transparency and accountability, (4) how tax evasion can be reduced using blockchain
technology, and (5) how blockchain technology can reduce the administrative tax burden.​

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 Conclusion
Ethereum offers an extremely flexible platform on which to build decentralized applications using
the native Solidity scripting language and Ethereum Virtual Machine. Decentralized application
developers who deploy smart contracts on Ethereum benefit from the rich ecosystem of developer
tooling and established best practices that have come with the maturity of the protocol. This
maturity also extends into the quality of user-experience for the average user of Ethereum
applications, with wallets like MetaMask, Argent, Rainbow and more offering simple interfaces
through which to interact with the Ethereum blockchain and smart contracts deployed there.
Ethereum’s large user base encourages developers to deploy their applications on the network,
which further reinforces Ethereum as the primary home for decentralized applications like DeFi
and NFTs. In the future, the backwards-compatible Ethereum 2.0 protocol, currently under
development, will provide a more scalable network on which to build decentralized applications
that require higher transaction throughput

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