Secured iota enabled micropayment transaction crypto-platform with discretionary mining capabilities and miner nomination based on first-price sealed bid auction theory

This thesis is submitted in partial fulfillment of the requirements for the degree of Bachelor of Science in Computer Science and Engineering, 2019.

Detalles Bibliográficos
Main Authors:	Amin, H.M Sadman, Raﬁ, Nakhla, Suﬁyan, Zahin, Anjum, Syeda Afrida
Outros autores:	Alam, Golam Rabiul
Formato:	Thesis
Idioma:	en_US
Publicado:	Brac University 2021
Subjects:	Crypto-Platform Micropayment Minerless Discretionary Mining IOTA Tangle Distributive computing
Acceso en liña:	http://hdl.handle.net/10361/14344

id	10361-14344
record_format	dspace
spelling	10361-143442022-01-26T10:04:51Z Secured iota enabled micropayment transaction crypto-platform with discretionary mining capabilities and miner nomination based on first-price sealed bid auction theory Amin, H.M Sadman Raﬁ, Nakhla Suﬁyan, Zahin Anjum, Syeda Afrida Alam, Golam Rabiul Department of Computer Science and Engineering, Brac University Crypto-Platform Micropayment Minerless Discretionary Mining IOTA Tangle Distributive computing This thesis is submitted in partial fulfillment of the requirements for the degree of Bachelor of Science in Computer Science and Engineering, 2019. Cataloged from PDF version of thesis. Includes bibliographical references (pages 37-39). The commercial utilization of cryptocurrency as a digital asset in being more and more sought-after on each successive year. Most of the well renowned cryptoplatforms now-a-days are devised based on the premise of the concept of blockchain. These cryptocurrencies work as an alternative medium of exchange using cryptography to secure the transactions on a distributed ledger. For validating a rationally substantial transaction, all of the blockchain-based cryptocurrencies requires a miner who will execute the proof-of-work to secure network consensus even in the presence of malicious nodes. After solving the cryptographic hash puzzles, the mining nodes are then compensated with a block reward and a mining/transaction fee for their services. When using regular blockchain-based digital cryptocurrency such as bitcoin, ripple, etherium etc. most of the time the respected crypto-platforms discourages low valued transactions from being executed. Because often, the transaction fee may exceed the value of the product or service that are being purchased. As a result, for this particular reason, micropayment systems using digital crypto-platforms remains largely under developed. To solve this complication our thesis model was emanated from the notion of IOTA, which is considered as a minerless cypto-platform where the requisition of miners are disregarded thus enabling users to relish the advantages of microtransactions, however with the inclusion of “Discretionary mining”. “Discretionary Mining” refers to the hypothesis of availability of mining capabilities at the discretion of the users. While using IOTA, the eﬃciency of the Tangle network largely depends on the computational power of nodes. Moreover, unconﬁrmed transaction node also known as “Tips” with low computational capability may not be able to validate it’s previous two transactions in time which will result in the degradation of the entire Tangle. Hence, our research of Discretionary Mining was derived from the postulation of distributive computing where a low powered smart device can outsource complex computations while validating transactions such as solving cryptographic puzzle (Hashcash) which they cannot execute on their own. Thus enabling users to reap the beneﬁts of microtransactions without the network being completely minerless. H.M Sadman Amin Nakhla Raﬁ Zahin Suﬁyan Syeda Afrida Anjum B. Computer Science 2021-03-14T09:07:48Z 2021-03-14T09:07:48Z 2019 2019-12 Thesis ID: 16101008 ID: 16101197 ID: 17201033 ID: 16101059 http://hdl.handle.net/10361/14344 en_US Brac University theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. 39 pages application/pdf Brac University
institution	Brac University
collection	Institutional Repository
language	en_US
topic	Crypto-Platform Micropayment Minerless Discretionary Mining IOTA Tangle Distributive computing
spellingShingle	Crypto-Platform Micropayment Minerless Discretionary Mining IOTA Tangle Distributive computing Amin, H.M Sadman Raﬁ, Nakhla Suﬁyan, Zahin Anjum, Syeda Afrida Secured iota enabled micropayment transaction crypto-platform with discretionary mining capabilities and miner nomination based on first-price sealed bid auction theory
description	This thesis is submitted in partial fulfillment of the requirements for the degree of Bachelor of Science in Computer Science and Engineering, 2019.
author2	Alam, Golam Rabiul
author_facet	Alam, Golam Rabiul Amin, H.M Sadman Raﬁ, Nakhla Suﬁyan, Zahin Anjum, Syeda Afrida
format	Thesis
author	Amin, H.M Sadman Raﬁ, Nakhla Suﬁyan, Zahin Anjum, Syeda Afrida
author_sort	Amin, H.M Sadman
title	Secured iota enabled micropayment transaction crypto-platform with discretionary mining capabilities and miner nomination based on first-price sealed bid auction theory
title_short	Secured iota enabled micropayment transaction crypto-platform with discretionary mining capabilities and miner nomination based on first-price sealed bid auction theory
title_full	Secured iota enabled micropayment transaction crypto-platform with discretionary mining capabilities and miner nomination based on first-price sealed bid auction theory
title_fullStr	Secured iota enabled micropayment transaction crypto-platform with discretionary mining capabilities and miner nomination based on first-price sealed bid auction theory
title_full_unstemmed	Secured iota enabled micropayment transaction crypto-platform with discretionary mining capabilities and miner nomination based on first-price sealed bid auction theory
title_sort	secured iota enabled micropayment transaction crypto-platform with discretionary mining capabilities and miner nomination based on first-price sealed bid auction theory
publisher	Brac University
publishDate	2021
url	http://hdl.handle.net/10361/14344
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Secured iota enabled micropayment transaction crypto-platform with discretionary mining capabilities and miner nomination based on first-price sealed bid auction theory

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