Skimping on Gas – Reducing Ethereum Transaction Costs in a Blockchain Electricity Market Application

Tutkimustuotos: Artikkeli kirjassa/konferenssijulkaisussavertaisarvioitu

Tutkijat

Organisaatiot

  • The Research Institute of the Finnish Economy (ETLA)
  • Fortum Oyj

Kuvaus

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.

Yksityiskohdat

AlkuperäiskieliEnglanti
OtsikkoProceedings of 52nd Hawaii International Conference on System Sciences
AlaotsikkoHICSS 2019
TilaJulkaistu - 8 tammikuuta 2019
OKM-julkaisutyyppiA3 Kirjan osa tai toinen tutkimuskirja
TapahtumaAnnual Hawaii International Conference on System Sciences - Grand Wailea, Yhdysvallat
Kesto: 8 tammikuuta 201911 tammikuuta 2019
Konferenssinumero: 52

Conference

ConferenceAnnual Hawaii International Conference on System Sciences
LyhennettäHICSS
MaaYhdysvallat
KaupunkiGrand Wailea
Ajanjakso08/01/201911/01/2019

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