A decision-making model to guide securing blockchain deployments
- Authors: Cronje, Gerhard Roets
- Date: 2021-10-29
- Subjects: Blockchains (Databases) , Bitcoin , Cryptocurrencies , Distributed databases , Computer networks Security measures , Computer networks Security measures Decision making , Ethereum
- Language: English
- Type: Masters theses , text
- Identifier: http://hdl.handle.net/10962/188865 , vital:44793
- Description: Satoshi Nakamoto, the pseudo-identity accredit with the paper that sparked the implementation of Bitcoin, is famously quoted as remarking, electronically of course, that “If you don’t believe it or don’t get it, I don’t have time to try and convince you, sorry” (Tsapis, 2019, p. 1). What is noticeable, 12 years after the famed Satoshi paper that initiated Bitcoin (Nakamoto, 2008), is that blockchain at the very least has staying power and potentially wide application. A lesser known figure Marc Kenisberg, founder of Bitcoin Chaser which is one of the many companies formed around the Bitcoin ecosystem, summarised it well saying “…Blockchain is the tech - Bitcoin is merely the first mainstream manifestation of its potential” (Tsapis, 2019, p. 1). With blockchain still trying to reach its potential and still maturing on its way towards a mainstream technology the main question that arises for security professionals is how do I ensure we do it securely? This research seeks to address that question by proposing a decision-making model that can be used by a security professional to guide them through ensuring appropriate security for blockchain deployments. This research is certainly not the first attempt at discussing the security of the blockchain and will not be the last, as the technology around blockchain and distributed ledger technology is still rapidly evolving. What this research does try to achieve is not to delve into extremely specific areas of blockchain security, or get bogged down in technical details, but to provide a reference framework that aims to cover all the major areas to be considered. The approach followed was to review the literature regarding blockchain and to identify the main security areas to be addressed. It then proposes a decision-making model and tests the model against a fictitious but relevant real-world example. It concludes with learnings from this research. The reader can be the judge, but the model aims to be a practical valuable resource to be used by any security professional, to navigate the security aspects logically and understandably when being involved in a blockchain deployment. In contrast to the Satoshi quote, this research tries to convince the reader and assist him/her in understanding the security choices related to every blockchain deployment. , Thesis (MSc) -- Faculty of Science, Computer Science, 2021
- Full Text:
- Authors: Cronje, Gerhard Roets
- Date: 2021-10-29
- Subjects: Blockchains (Databases) , Bitcoin , Cryptocurrencies , Distributed databases , Computer networks Security measures , Computer networks Security measures Decision making , Ethereum
- Language: English
- Type: Masters theses , text
- Identifier: http://hdl.handle.net/10962/188865 , vital:44793
- Description: Satoshi Nakamoto, the pseudo-identity accredit with the paper that sparked the implementation of Bitcoin, is famously quoted as remarking, electronically of course, that “If you don’t believe it or don’t get it, I don’t have time to try and convince you, sorry” (Tsapis, 2019, p. 1). What is noticeable, 12 years after the famed Satoshi paper that initiated Bitcoin (Nakamoto, 2008), is that blockchain at the very least has staying power and potentially wide application. A lesser known figure Marc Kenisberg, founder of Bitcoin Chaser which is one of the many companies formed around the Bitcoin ecosystem, summarised it well saying “…Blockchain is the tech - Bitcoin is merely the first mainstream manifestation of its potential” (Tsapis, 2019, p. 1). With blockchain still trying to reach its potential and still maturing on its way towards a mainstream technology the main question that arises for security professionals is how do I ensure we do it securely? This research seeks to address that question by proposing a decision-making model that can be used by a security professional to guide them through ensuring appropriate security for blockchain deployments. This research is certainly not the first attempt at discussing the security of the blockchain and will not be the last, as the technology around blockchain and distributed ledger technology is still rapidly evolving. What this research does try to achieve is not to delve into extremely specific areas of blockchain security, or get bogged down in technical details, but to provide a reference framework that aims to cover all the major areas to be considered. The approach followed was to review the literature regarding blockchain and to identify the main security areas to be addressed. It then proposes a decision-making model and tests the model against a fictitious but relevant real-world example. It concludes with learnings from this research. The reader can be the judge, but the model aims to be a practical valuable resource to be used by any security professional, to navigate the security aspects logically and understandably when being involved in a blockchain deployment. In contrast to the Satoshi quote, this research tries to convince the reader and assist him/her in understanding the security choices related to every blockchain deployment. , Thesis (MSc) -- Faculty of Science, Computer Science, 2021
- Full Text:
Peer-to-peer energy trading system using IoT and a low-computation blockchain network
- Authors: Ncube, Tyron
- Date: 2021-10-29
- Subjects: Blockchains (Databases) , Internet of things , Renewable energy sources , Smart power grids , Peer-to-peer architecture (Computer networks) , Energy trading system
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10962/192119 , vital:45197
- Description: The use of renewable energy is increasing every year as it is seen as a viable and sustain- able long-term alternative to fossil-based sources of power. Emerging technologies are being merged with existing renewable energy systems to address some of the challenges associated with renewable energy, such as reliability and limited storage facilities for the generated energy. The Internet of Things (IoT) has made it possible for consumers to make money by selling off excess energy back to the utility company through smart grids that allow bi-directional communication between the consumer and the utility company. The major drawback of this is that the utility company still plays a central role in this setup as they are the only buyer of this excess energy generated from renewable energy sources. This research intends to use blockchain technology by leveraging its decentralized architecture to enable other individuals to be able to purchase this excess energy. Blockchain technology is first explained in detail, and its main features, such as consensus mechanisms, are examined. This evaluation of blockchain technology gives rise to some design questions that are taken into consideration to create a low-energy, low-computation Ethereum-based blockchain network that is the foundation for a peer-to-peer energy trading system. The peer-to-peer energy trading system makes use of smart meters to collect data about energy usage and gives users a web-based interface where they can transact with each other. A smart contract is also designed to facilitate payments for transactions. Lastly, the system is tested by carrying out transactions and transferring energy from one node in the system to another. , Thesis (MSc) -- Faculty of Science, Computer Science, 2021
- Full Text:
- Authors: Ncube, Tyron
- Date: 2021-10-29
- Subjects: Blockchains (Databases) , Internet of things , Renewable energy sources , Smart power grids , Peer-to-peer architecture (Computer networks) , Energy trading system
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10962/192119 , vital:45197
- Description: The use of renewable energy is increasing every year as it is seen as a viable and sustain- able long-term alternative to fossil-based sources of power. Emerging technologies are being merged with existing renewable energy systems to address some of the challenges associated with renewable energy, such as reliability and limited storage facilities for the generated energy. The Internet of Things (IoT) has made it possible for consumers to make money by selling off excess energy back to the utility company through smart grids that allow bi-directional communication between the consumer and the utility company. The major drawback of this is that the utility company still plays a central role in this setup as they are the only buyer of this excess energy generated from renewable energy sources. This research intends to use blockchain technology by leveraging its decentralized architecture to enable other individuals to be able to purchase this excess energy. Blockchain technology is first explained in detail, and its main features, such as consensus mechanisms, are examined. This evaluation of blockchain technology gives rise to some design questions that are taken into consideration to create a low-energy, low-computation Ethereum-based blockchain network that is the foundation for a peer-to-peer energy trading system. The peer-to-peer energy trading system makes use of smart meters to collect data about energy usage and gives users a web-based interface where they can transact with each other. A smart contract is also designed to facilitate payments for transactions. Lastly, the system is tested by carrying out transactions and transferring energy from one node in the system to another. , Thesis (MSc) -- Faculty of Science, Computer Science, 2021
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