Web3 Technologies for Digital Innovation and Transformation

Permanent URI for this collectionhttps://hdl.handle.net/10125/107527

Browse

Now showing 1 - 7 of 7

sigBridge: A Cross-chain Bridge for Permissioned Blockchains and its application to decentralized access control
(2024-01-03) Nabi, Mahmudun; Avizheh, Sepideh; Haffey, Preston; Safavi-Naini, Reihaneh; Kneppers, Marc
With the rise of decentralized systems and applications that run over multiple blockchains, there is a growing need for architectures and bridges that ensure the trusted transfer of data and assets between the chains. zkBridge (ACM CCS'22) is a cross-chain bridge protocol that was proposed for non-permissioned blockchain and uses a network of relays, each working (for example as a light node) on a blockchain. A relay communicates with a corresponding smart contract on another chain to transfer data from the first chain to the second, and the smart contract on the second chain is used to verify the correctness of the received data from the first chain. zkBridge designs and implements optimized zero-knowledge proofs, that minimize the work of the smart contract on the second chain to verify the correctness of the received data. In this paper, we consider applications that work across two or more permissioned blockchains. We propose sigBridge that uses the framework of zkBridge but replaces the costly zero-knowledge proof computation with a pair of algorithms based on the consensus algorithm of the first chain. The algorithms will be run by a relay node on the first chain and a smart contract on the second chain and provide verifiability of data and asset transfer from the first chain to the second. The pair of algorithms are significantly more efficient compared to generating zero-knowledge proofs, verifying them, or running the full consensus algorithm of the first blockchain. We then show how a decentralized user-centric resource-sharing application will work over this architecture. We give a proof-of-concept implementation of an attribute-based access control system for a resource-sharing application that runs over two private Ethereum blockchains, and report the computation costs of the protocol.
User Welfare in Cryptocurrency Transaction Markets: An Empirical Study on EIP-1559
(2024-01-03) Ai, Peilin; Wu, Zhichao; Shang, Guangzhi; Zhao, Xi
Guaranteed by the novel technical design, blockchain-based platforms can ensure the authenticity and transparency of transactions. However, compared with traditional ways of trading, the transaction throughput is usually restricted in blockchain networks, and users have to compete for limited block space. On Ethereum, a featured permissionless blockchain-based platform, users conducted various activities in a name-your-own-price way. Users faced uncertainty about how to bid appropriately and were prone to severe overpaying problems. Taking advantage of the upgrade of the Ethereum transaction fee mechanism on August 5, 2021, we describe the logic of user bidding and analyze whether the new transaction fee mechanism introduced by EIP-1559 helps increase user welfare. Through empirical analysis, we revealed that EIP-1559 could alleviate user overpayment, especially among addresses with lower transaction values. In addition, observations of bidding performance with EIP-1559 across time proved the existence of learning effects.
Assessing Data Layouts to Bring Storage Engine Functionality to Blockchain Technology
(2024-01-03) Przytarski, Dennis; Stach, Christoph; Mitschang, Bernhard
Nowdays, modern applications often use blockchains as a secure data store. However, querying blockchain data is more challenging than querying conventional databases due to blockchains being primarily designed for the logging of asset transfers, such as cryptocurrencies, rather than storing and reading generic data. To improve the experience of querying blockchain data and make it comparable to querying conventional databases, new design approaches of the storage engine for blockchain technology are required. An important aspect is the data layout of a block, as it plays a crucial role in facilitating reading of blockchain data. In this paper, we identify a suitable data layout that provides the required query capabilities while preserving the key properties of blockchain technology. Our goal is to overcome the limitations of current data access models in blockchains, such as the reliance on auxiliary data storages and error-prone smart contracts. To this end, we compare four promising data layouts with data models derived from document, row, column, and triple stores in terms of schema flexibility, read pattern generality, and relational algebra suitability. We then assess the most suitable data layout for blockchain technology.
SUSTAINABLE DISRUPTION OF ORGANIZATIONAL KNOWLEDGE: A CASE STUDY ON CHANGING EPISTEMIC STANCES IN DIGITAL TRANSFORMATION
(2024-01-03) Wang, Wenshuo; Hummel, Jochem; Nandhakumar, Joe
Web 2.0 and 3.0 digital technologies have been inducing a profound transformation of the structures and processes of companies. There is a rich literature on how digital transformation happens in organizations, however, limited insight into the role of knowledge has been provided, particularly about how firms deal with the conundrum that during digital transformation they are likely to disrupt the foundational knowledge on which their structure and processes are built. How do firms realize digital transformation when this very process disrupts the foundational knowledge upon which their structures and processes rely? In an extensive single case study of a large regional Chinese Media Company, we empirically explore the changing patterns of knowledge, namely the organizational epistemic stances, that were continuously disrupted by the process of digital transformation. We identify a dynamic process including four phases of epistemic stance that the firm went through during the digital transformation. Through adopting a knowledge-based perspective, this study extends the understanding of how digital transformation changes organizations’ knowledge-generating inherently and how organizations deal with the changes.
Elevating Business Models to the Ecosystem Level: Evidence from Web3 and Beyond
(2024-01-03) Bengts, Annika; Eloranta, Ville; Hakanen, Esko; Turunen, Taija; Tullney, Valeska
Business models integrate activities for value creation and capture. While ecosystems have emerged as potent catalysts for value creation through collaborative innovation, the common understanding is that value capture occurs within individual firms. This paper challenges this dichotomy. In an empirical study using a polar types case approach, we first illustrate how two ecosystems employ decentralization technology, specifically blockchain-based Web3 platforms, to elevate value capture to the ecosystem level. We then outline the implications beyond the blockchain domain using two non-Web3 cases. Specifically, we show—from the perspectives of value proposition, value constellation, and profit equation—how business models can rise to the ecosystem level.
Sustaining the Crypto Commons: A Configurational Systems Perspective on Blockchain and Cryptocurrency Governance
(2024-01-03) Ciriello, Raffaele; Mindel, Vitali; Mathiassen, Lars
In the face of dramatic technological evolution, blockchain and cryptocurrencies stand out as captivating, yet contentious, game-changers. Amid their notorious uncertainty and myriad debates surrounding their sustainability, we present a configurational systems perspective on the crypto commons as a novel concept that encompasses infrastructures and superstructures at the micro and macro levels of blockchain and cryptocurrency governance. We illuminate critical knowledge gaps and unearth transformative research opportunities. Our journey through the dualities of crypto commons presents a novel theoretical perspective, pushing our understanding of their sustainability a leap further.
Introduction to the Minitrack on Web3 Technologies for Digital Innovation and Transformation
(2024-01-03) Yoo, Youngjin; Gregory, Robert; Henfridsson , Ola

Browse

Recent Submissions