Modeling and Simulation Analysis of Blockchain System

A special issue of Mathematics (ISSN 2227-7390). This special issue belongs to the section "Mathematics and Computer Science".

Deadline for manuscript submissions: 30 June 2024 | Viewed by 3346

Special Issue Editors


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Guest Editor
Austria Blockchain Center (ABC) Research, 111 Favoritenstrasse, 1100 Vienna, Austria
Interests: requirement engineering; software modelling; blockchain systems; data analyses

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Guest Editor
Software Engineering Department, University of Tartu, Ulikooli 18, 51014 Tartu, Estonia
Interests: blockchain systems; smart contracts; decentralized autonomous

Special Issue Information

Dear Colleagues,

The development of blockchain applications and systems usually involves interactions between different systems and components. Hence, modelling and simulation are important aspects of blockchain software development. Modelling may involve the elicitation of system requirements and description of architecture and components that are part of blockchain systems. Simulation helps in understanding the dynamic behaviour of a software application. Due to the complexity of blockchain applications and systems, it has become increasingly important to apply formal methods in their development. This will help in achieving consistency and correctness of the static and dynamic properties that define the developed software artefact.

Formal methods for modelling and simulating blockchain systems may include Set theories, Game theories, Algebraic equations, Differential equations, Formalized pseudocode algorithms, Petri nets, etc. Applying any of these methods in software development demonstrates rigour and improves the verifiability of a software artefact.

This Special Issue seeks to collect articles that apply any of the listed (not limited to) above formal approaches in the development of blockchain applications. In addition, there is a special consideration for authors that applied formal methods in requirement analyses of blockchain systems and applications.

Dr. Chibuzor Udokwu
Dr. Vimal Dwivedi
Guest Editors

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Keywords

  • modelling
  • simulation
  • requirement analyses
  • blockchain systems
  • blockchain applications
  • formal methods

Published Papers (3 papers)

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Research

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19 pages, 4037 KiB  
Article
Blockchain-Enabled Utility Optimization for Supply Chain Finance: An Evolutionary Game and Smart Contract Based Approach
by Shenghua Wang, Mengjie Zhou and Sunan Xiang
Mathematics 2024, 12(8), 1243; https://doi.org/10.3390/math12081243 - 19 Apr 2024
Viewed by 807
Abstract
In recent years, blockchain technology has attracted substantial interest for its capability to transform supply chain management and finance. This paper employs evolutionary game theory to investigate the application of blockchain in mitigating financial risks within supply chains, taking into account the technology’s [...] Read more.
In recent years, blockchain technology has attracted substantial interest for its capability to transform supply chain management and finance. This paper employs evolutionary game theory to investigate the application of blockchain in mitigating financial risks within supply chains, taking into account the technology’s maturity and the risk preferences of financial institutions. By modeling interactions among financial institutions, small and medium enterprises (SMEs), and core enterprises within the accounts receivable financing framework, this study evaluates blockchain’s impact on their decision-making and its efficacy in risk reduction. Our findings suggest the transformative potential of blockchain in mitigating financial risks, solving information asymmetry, and enhancing collaboration between financial entities and SMEs. Additionally, we integrate smart contracts into supply chain finance, proposing pragmatic procedures for their deployment in real-world contexts. Via a detailed examination of blockchain’s maturity and financial institutions’ risk preferences, this research demonstrates the primary determinants of strategic decisions in supply chain finance and underscores how blockchain technology fosters system stability using risk mitigation. Our innovative contribution lies in the design of smart contracts for the ARF process, rooted in blockchain’s core attributes of security, transparency, and immutability, thereby ensuring efficient operation and cost reduction in supply chain finance. Full article
(This article belongs to the Special Issue Modeling and Simulation Analysis of Blockchain System)
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19 pages, 295 KiB  
Article
The Economic Value of Dual-Token Blockchains
by Nicola Dimitri
Mathematics 2023, 11(17), 3757; https://doi.org/10.3390/math11173757 - 31 Aug 2023
Viewed by 892
Abstract
It is standard for blockchain platforms to issue native tokens, or crytpocurrencies, that users must own to operate within the platform. Some blockchains, however, decided to issue two tokens, establishing a dual system, with one token typically for governance and the other for [...] Read more.
It is standard for blockchain platforms to issue native tokens, or crytpocurrencies, that users must own to operate within the platform. Some blockchains, however, decided to issue two tokens, establishing a dual system, with one token typically for governance and the other for implementing functions on the blockchain, such as executing transactions or smart contracts. Therefore, the two tokens are used for different activities. Typically, owning the governance tokens gives the right to receive the other token for free, as a reward for participating in the blockchain decision-making and voting processes. However, both tokens can also be traded on some exchange nodes, which means that platform functions could be implemented even without owning governance tokens. In this paper, we discuss some economic fundamentals of dual-token blockchain platforms—in particular, how to establish their economic value and the market relative attractiveness of the two tokens. We do so by introducing some simple numerical indicators, based on prices, and traded circulating monetary quantities. Such indicators, which are meant to reflect the platform’s view on the tokens’ market desirability, could be computed in real time and used to support the platform’s policy making. Full article
(This article belongs to the Special Issue Modeling and Simulation Analysis of Blockchain System)

Review

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45 pages, 3557 KiB  
Review
Application of Graph Theory for Blockchain Technologies
by Guruprakash Jayabalasamy, Cyril Pujol and Krithika Latha Bhaskaran
Mathematics 2024, 12(8), 1133; https://doi.org/10.3390/math12081133 - 10 Apr 2024
Cited by 1 | Viewed by 1110
Abstract
Blockchain technology, serving as the backbone for decentralized systems, facilitates secure and transparent transactional data storage across a distributed network of nodes. Blockchain platforms rely on distributed ledgers to enable secure peer-to-peer transactions without central oversight. As these systems grow in complexity, analyzing [...] Read more.
Blockchain technology, serving as the backbone for decentralized systems, facilitates secure and transparent transactional data storage across a distributed network of nodes. Blockchain platforms rely on distributed ledgers to enable secure peer-to-peer transactions without central oversight. As these systems grow in complexity, analyzing their topological structure and vulnerabilities requires robust mathematical frameworks. This paper explores applications of graph theory for modeling blockchain networks to evaluate decentralization, security, privacy, scalability and NFT Mapping. We use graph metrics like degree distribution and betweenness centrality to quantify node connectivity, identify network bottlenecks, trace asset flows and detect communities. Attack vectors are assessed by simulating adversarial scenarios within graph models of blockchain systems. Overall, translating blockchain ecosystems into graph representations allows comprehensive analytical insights to guide the development of efficient, resilient decentralized infrastructures. Full article
(This article belongs to the Special Issue Modeling and Simulation Analysis of Blockchain System)
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