• Journal of Internet Computing and Services
• /
• v.20 no.6
• /
• pp.105-117
• /
• 2019

Bitcoin, which can be classified as a cryptocurrency, has attracted attention from various industries because it is an innovative digital currency and the beginning of a Blockchain system. However, as the research on Bitcoin progressed, several security vulnerabilities and possible attacks were analyzed. Among them, the security problem caused by the transparency of the Blockchain database prevents the Blockchain system from being applied to various fields. This vulnerability is further classified as the weak anonymity of participating nodes and privacy problem due to disclosure of transaction details. In recent years, several countermeasures have been developed against these vulnerabilities. In this paper, we first describe the main features of the public and private Blockchain, and explain privacy, unlinkability and anonymity. And, three public Blockchain platforms, Dash, Zcash and Monero which are derived from Bitcoin, and Hyperledger Fabric which is a private Blockchain platform, are examined. And we analyze the operating principles of the protocols applied on each platform. In addition, we classify the applied technologies into anonymity and privacy protection in detail, analyze the advantages and disadvantages, and compare the features and relative performance of the platforms based on the computational speed of the applied cryptographic mechanisms.

• Management & Information Systems Review
• /
• v.38 no.1
• /
• pp.83-101
• /
• 2019

Blockchain is considered as an innovative technology along with Artificial Intelligence, Big Data, and Internet of Things. However, since the inception of the genesis of blockchain technology, the cryptocurrency Bitcoin, the technology is not utilized widely, not let alone disruptive applications. Most of the blockchain research deals with the cryptocurrency, general descriptions of the technology such as trend, outlook of the technology, explanation of component technology, and so on. There are no killer applications like Facebook or Google, of course. Reflecting on the slow adoption by businesses, we wanted know about the current status of the research on blockchain in Korea. The main purpose of this paper is to help business practitioners to identify the application of blockchain to enhance the competitiveness of their organization. To do that, we first use the framework by Iansiti et al (2017) and categorize the blockchain related articles published in Korea according to the framework. This is to provide a benchmark or cases of other organizations' adoption of blockchain technology. Second, based on the value proposition of blockchain applications, we suggest evolutionary paths for adopting them. Third, from the demand pull perspective of technology adoption for innovation, we propose applicable areas where blockchain applications can be introduced. Fourth, we use the value chain model to find out the appropriate domains of blockchain applications in the corporate value chains. And the five competitive forces models is adopted to find ways of lowering the power of forces by incorporating blockchain technology.

• Knowledge Management Research
• /
• v.22 no.2
• /
• pp.1-17
• /
• 2021

In this study, we predicted the bitcoin prices of Bithum and Coinbase, a leading exchange in Korea and USA, using ARIMA and Recurrent Neural Networks(RNNs). And we used news articles from each country to suggest a separated RNN model. The suggested model identifies the datasets based on the changing trend of prices in the training data, and then applies time series prediction technique(RNNs) to create multiple models. Then we used daily news data to create a term-based dictionary for each trend change point. We explored trend change points in the test data using the daily news keyword data of testset and term-based dictionary, and apply a matching model to produce prediction results. With this approach we obtained higher accuracy than the model which predicted price by applying just time series prediction technique. This study presents that the limitations of the time series prediction techniques could be overcome by exploring trend change points using news data and various time series prediction techniques with text mining techniques could be applied to improve the performance of the model in the further research.

• Journal of the Korea Convergence Society
• /
• v.9 no.9
• /
• pp.83-88
• /
• 2018

The blockchain is the technique which is used in decentralized system instead of centralized system. Its characteristics are anonymous and transparency. However, there are still some traditional attacks. In this paper, we introduced some of the famous consensus algorithm with blockchain: Bitcoin, Algorand, and IOTA. Also, this paper talked about how each consensus algorithm tried to solve those traditional attacks such as double spending attack or sybil attack. Furthermore, if the consensus algorithm does not consider those attacks yet, then the author would introduce additional methods to solve those attacks. Furthermore, this paper proposed the new scenario that can make classical attacks be happened.

• Journal of Information Technology Services
• /
• v.16 no.2
• /
• pp.1-20
• /
• 2017

A bitcoin-based technology named blockchain is garnering attention in various industries as a cost-effective measure in strengthening security and a reliable technology medium. Blockchain technology will play a critical role in the Fourth Industrial Revolution, and IT technology is expected to bring fundamental changes. This study focuses on the characteristics of blockchain technology and the effects of the intention to accept its technology in an empirical manner. The aspects of the technology are organized by researching blockchain technology and theories of technology acceptability and previous studies were used as guidelines to create the research model and propose the hypothesis. The research model is based on UTAUT with a set-up of 5 factors for performance expectancy and effort expectancy. For empirical analysis, a survey was conducted on 283 IT workers in Korea, To examine the hypothesis structural equation modeling was used performance expectancy was influenced by security, reliability, diversity, and economic efficiency while effort expectancy was influenced by reliability and economic efficiency. Performance expectancy, social influence, facilitating conditions affect the intention to accept. Innovativeness of an organization and control effects are influenced as well. The present study aims to provide practical guidance as supplementary research in utilizing blockchain technology, and the limitations of the study and future research possibilities are discussed as well.

• Journal of Korea Society of Digital Industry and Information Management
• /
• v.13 no.3
• /
• pp.1-9
• /
• 2017

Recently, Bitcoin which is digital currency and cryptocurrency is getting worldwide attention since Bitcoin has an ability to replace legal tender unlike other existing cyber currency. Especially, most Bitcoin trading is done between two traders such as P2P method and it does not require a third-party to make sure reliability and it records every transaction details, so it is more transparent then traditional financial trade, so the number of users is increasing. However, Bitcoin, which has been recognized for transparency, confidentiality and stability among traders has recently been threatened by illegal transactions such as money laundering and the attack on the exchange. These threats to Bitcoin are becoming social problems. At first, it seems that most of the digital currency is difficult to get hacked due to the Blockchain technology. However, threats such as digital money leaks by user account hacking and paralyzing the servers are increasing. In this paper, it will examine the features of the Bitcoin and the threatening elements to secure marketability of digital currency such as Bitcoin and receive more interest from public in domestic. The paper will examine the problems of Blockchain technology on speculative transactions and fraudulent behavior by analyzing the problems of Bitcoin transaction. Lastly, it will propose ways to make transparent and secure digital currency transactions.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.12
• /
• pp.465-471
• /
• 2021

The study investigates the dynamic correlation of cryptocurrencies and equity in Vietnam and tests the safe-haven property of them from the perspective of the stock market in Vietnam during the pandemic crisis by applying the dynamic conditional correlation (DCC) GARCH model and regression with a dummy variable, respectively. This study employs time series data on the daily dataset from September 2014 to September 2021 with the focus on the two most popular cryptocurrencies - Bitcoin and Litecoin. The results show that the dynamic conditional correlations between cryptocurrencies and equity in Vietnam increased during the pandemic, however, in most periods, positive dynamic correlations often dominate. Besides, the regression results also indicate that Bitcoin and Litecoin act as weak safe-haven investments for stocks in Vietnam during the COVID-19 turmoil. They are more suitable for diversification purposes although the dynamic correlations between them and the stock index in Vietnam vary stronger during the pandemic crisis than before. The findings of this study suggest that in the period of pandemic crisis, cryptocurrencies are not concerned as effective safe-haven assets for stock in Vietnam. Instead, cryptocurrencies are only playing a potential role in diversification benefit in this economy.

• Journal of Energy Engineering
• /
• v.27 no.4
• /
• pp.86-91
• /
• 2018

This paper is a review of accounts balancing time in small distributed power trading platform using blockchain technology. First, the national VPP energy management system using the AMI applied to this study is introduced and then the accounts balancing time and process of the cryptocurrency coin payment which based on the power generation of pro-consumer certified by power big data analysis in a test bed environment is discussed. Futhermore the configuration of a power Big Data analysis system with GPU Fast Big Data that applies MapD to current lambda architecture is also introduced.

• KSII Transactions on Internet and Information Systems (TIIS)
• /
• v.13 no.6
• /
• pp.3258-3279
• /
• 2019

Recently, ransomware has earned itself an infamous reputation as a force to reckon with in the cybercrime landscape. However, cybercriminals are adopting other unconventional means to seamlessly attain proceeds of cybercrime with little effort. Cybercriminals are now acquiring cryptocurrencies directly from benign Internet users without the need to extort a ransom from them, as is the case with ransomware. This paper investigates advances in the cryptovirology landscape by examining the state-of-the-art cryptoviral attacks. In our approach, we perform digital autopsy on the malware's source code and execute the different malware variants in a contained sandbox to deduce static and dynamic properties respectively. We examine three cryptoviral attack structures: browser-based crypto mining, memory resident crypto mining and cryptoviral extortion. These attack structures leave a trail of digital forensics evidence when the malware interacts with the file system and generates noise in form of network traffic when communicating with the C2 servers and crypto mining pools. The digital forensics evidence, which essentially are IOCs include network artifacts such as C2 server domains, IPs and cryptographic hash values of the downloaded files apart from the malware hash values. Such evidence can be used as seed into intrusion detection systems for mitigation purposes.

• Journal of Multimedia Information System
• /
• v.6 no.3
• /
• pp.139-146
• /
• 2019

This paper, wireless internet such as Wi-Fi has a vulnerability to security. Blockchain also means a 'Ledger' in which transaction information that occurs on a public or private network is encrypted and shared among the network participants. Blockchain maintains information integrity by making it impossible for a particular node to tamper with information arbitrarily, a feature that would result in changes in the overall blockchain hash value if any one transaction information that constitutes a block was changed. The complete sharing of information through a peer-to-peer network will also cripple hacking attempts from outside, targeting specialized nodes, and prepare for the "single point of failure" risk of the entire system being shut down. Due to the value of these Blockchain, various types of Blockchain are emerging, and related technology development efforts are also actively underway. Various business models such as public block chains such as Bitcoin, as well as private block chains that allow only certain authorized nodes to participate, or consortium block chains operated by a select few licensed groups, are being utilized. In terms of technological evolution, Blockchain also shows the potential to grow beyond cryptocurrency into an online platform that allows all kinds of transactions with the advent of 'Smart Contract'. By using Blockchain technology, the company makes suggestions to overcome the vulnerability of wireless Internet.