Related papers: Balancing the Payment System
Although blockchains have become widely popular for their use in cryptocurrencies, they are now becoming pervasive as more traditional applications adopt blockchain to ensure data security. Despite being a secured network, blockchains have…
We describe the innovations in finances, introduced over the recent decades, and analyze most of the business and regulatory challenges, faced by the financial industry, because of the present disruptive changes in the global capital…
The modeling of complex systems such as ecological or socio-economic systems can be very challenging. Although various modeling approaches exist, they are generally not compatible and mutually consistent, and empirical data often do not…
Parallel iterative applications often suffer from load imbalance, one of the most critical performance degradation factors. Hence, load balancing techniques are used to distribute the workload evenly to maximize performance. A key challenge…
Most self-service payment terminals require network connectivity for processing electronic payments. The necessity to maintain network connectivity increases costs, introduces cybersecurity risks, and significantly limits the number of…
The application of Bitcoin enables people to understand blockchain technology gradually. Bitcoin is a decentralized currency that does not rely on third-party credit institutions, and the core of Bitcoin's underlying technology is…
The latest advancements in Distributed Ledger Technology (DLT), and payment architectures such as the UK's New Payments Architecture, present opportunities for leveraging the hidden informational value and intelligence within payments. In…
In this paper, a new methodology for stability assessment of a smart power system is proposed. The key to this assessment is an index called betweenness index which is based on ideas from complex network theory. The proposed betweenness…
Current-day data centers and high-volume cloud services employ a broad set of heterogeneous servers. In such settings, client requests typically arrive at multiple entry points, and dispatching them to servers is an urgent distributed…
Stablecoins have emerged as a rapidly growing digital payment instrument, raising the question of whether blockchain-based settlement can function as a substitute for incumbent card networks in retail payments. This Systematization of…
We derive a closed form solution for an optimal control problem related to an interbank lending schemes subject to terminal probability constraints on the failure of banks which are interconnected through a financial network. The derived…
We study long-term equilibria that arise in the token monetary policy, or tokenomics, design of proof-of-stake (PoS) blockchain systems that engage utility maximizing users and validators. Validators are system maintainers who get rewarded…
Multi-Context Systems are an expressive formalism to model (possibly) non-monotonic information exchange between heterogeneous knowledge bases. Such information exchange, however, often comes with unforseen side-effects leading to violation…
This paper proposes a model that enables permissionless and decentralized networks for complex computations. We explore the integration and optimize load balancing in an open, decentralized computational network. Our model leverages…
The Lightning Network, known for its millisecond settlement speeds and low transaction fees, offers a compelling alternative to traditional payment processors, which often have higher fees and longer processing times. This is particularly…
Cryptocurrencies are poised to revolutionize the modern economy by democratizing commerce. These currencies operate on top of blockchain-based distributed ledgers. Existing permissionless blockchain-based protocols offer unparalleled…
Blockchains are decentralized and immutable databases that are shared among the nodes of the network. Although blockchains have attracted a great scale of attention in the recent years by disrupting the traditional financial systems, the…
This paper elaborates about the potential risk of systemic instabilities in future networks and proposes a methodology to mitigate it. The starting concept is modeling the network as a complex environment (e.g. ecosystem) of resources and…
This work proposes an augmented variant of DebtRank with uncertainty intervals as a method to investigate and assess systemic risk in financial networks, in a context of incomplete data. The algorithm is tested against a default contagion…
With the rapid growth of Information and Communication Technology, Electronic commerce is now acting as a new means of carrying out business transactions through electronic means such as Internet environment. To avoid the complexities…