The potential of blockchain exceeds the financial database because it is proven to be consistent with every party involved in the partnership. This consistency is transparent, and its contents are verifiable by all participants. This article will describe the conceptual model of the blockchain-based framework, which shares computational resources among a limited local population. This can be seen as a group of users who join together and form a resource syndicate to share the cost of computational resources. This resource syndicate may be presented in various applications such as shared access of network-attached storage (NAS) and shared printer access or closed-circuit television footage among local residents. In all such applications, blockchain can act as a peer-to-peer communication agent to ensure legitimate access control. The functionality of a blockchain-based syndicate is subject to two conditions: 1) every device function should be completed via blockchain, and 2) interactions between devices should not be effective without blockchain regulations. To satisfy these two conditions, this framework utilizes the concept of broadcast encryption (BE).
Abstract:
Blockchain was introduced as an incorruptible distributed data structure for financial transactions. Its contents are intrinsically verifiable, it sustains its state over...Show MoreMetadata
Abstract:
Blockchain was introduced as an incorruptible distributed data structure for financial transactions. Its contents are intrinsically verifiable, it sustains its state over multiple nodes, and its property of consistent replication can be used to build an automated structure to control computational resources.