Active External Calls for Blockchain and Distributed Ledger Technologies: Debunking cited inability of Blockchain and DLT to make external calls

01/10/2023
by   Joshua Ellul, et al.
0

Blockchain and other distributed ledger technologies have enabled peer-to-peer networks to maintain ledgers with an immutable history and guaranteed computation, all carried out without the need of trusted parties. In practice, few applications of blockchain are closed i.e. do not interact with the world outside the blockchain, and various techniques have been proposed and used to handle such interaction. One problem is that it is widely accepted that, due to the decentralised nature of blockchain networks and constraints to ensure trust and determinism, such communication can only flow into the blockchain, and that blockchain systems cannot initiate and execute calls to external systems or services. In this paper we show that this misconception is preconceived by building on our previously presented solution to demonstrate that such calls can be directly initiated from the blockchain itself in a feasible and efficient manner.

READ FULL TEXT
research
05/13/2021

Towards External Calls for Blockchain and Distributed Ledger Technology

It is widely accepted that blockchain systems cannot execute calls to ex...
research
05/24/2022

Telechain: Bridging Telecom Policy and Blockchain Practice

The use of blockchain in regulatory ecosystems is a promising approach t...
research
04/30/2019

Please, do not decentralize the Internet with (permissionless) blockchains!

The old mantra of decentralizing the Internet is coming again with fanfa...
research
10/25/2018

Promoting Distributed Trust in Machine Learning and Computational Simulation via a Blockchain Network

Policy decisions are increasingly dependent on the outcomes of simulatio...
research
02/07/2020

Stability and Scalability of Blockchain Systems

The blockchain paradigm provides a mechanism for content dissemination a...
research
05/09/2022

SoK: Blockchain Decentralization

Blockchain empowers a decentralized economy by enabling distributed trus...
research
10/31/2019

Selecting Reliable Blockchain Peers via Hybrid Blockchain Reliability Prediction

Blockchain and blockchain-based decentralized applications are attractin...

Please sign up or login with your details

Forgot password? Click here to reset