Abstract
In recent years, information systems have not been largely evaluated by their operating costs, but mainly by their strategic benefit and competitive advantage. As blockchain-based decentralized applications become more commonplace, representing a shift towards fully consumption-based distributed computing, a new mode of thinking is required of developers, with meticulous attention to computational resource efficiency. This study improves on a blockchain application designed for conducting microtransactions of electricity in a nanogrid environment. By applying the design science research methodology, we improve the efficiency of the application’s smart contract by 11%, with further improvement opportunities identified. Despite the results, we find the efficiency remains inadequate for public Ethereum deployment. From the optimization process, we extrapolate a set of general guidelines for optimizing the efficiency of Ethereum smart contracts in any application.
Original language | English |
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Title of host publication | Proceedings of 52nd Hawaii International Conference on System Sciences |
Subtitle of host publication | HICSS 2019 |
Publisher | Hawaii International Conference on System Sciences |
Pages | 6875-6884 |
ISBN (Electronic) | 978-0-9981331-2-6 |
Publication status | Published - 8 Jan 2019 |
MoE publication type | A4 Conference publication |
Event | Annual Hawaii International Conference on System Sciences - Grand Wailea, United States Duration: 8 Jan 2019 → 11 Jan 2019 Conference number: 52 |
Conference
Conference | Annual Hawaii International Conference on System Sciences |
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Abbreviated title | HICSS |
Country/Territory | United States |
City | Grand Wailea |
Period | 08/01/2019 → 11/01/2019 |
Keywords
- Blockchain
- Design Science
- Ethereum
- Nanogrid
- Smart Contract