An Academic Analysis of Blockchain Technology and Evaluation of Avalanche’s Position on This Issue
Blockchain has begun to make its weight felt day by day and enter into daily life. It was developed by Satoshi Nakamoto in 2008 for use in the cryptocurrency bitcoin, as a public transaction ledger. Bitcoin cryptocurrency is the first digital currency to solve the double spending problem without the need for a trusted authority or central server. The Bitcoin design has inspired other subsequent applications. Blockchains are secure by design and exemplify a distributed computing system with (by default) high Byzantine fault tolerance. Decentralized applications (Dapp) are made possible by this technology. This creates blockchain solutions that are potentially suitable for other records management activities such as medical records, identity management and documentation of origin, food traceability or voting [1].
Avalanche is an ecosystem created by talented developers that opens its doors to innovations and developments day by day, and is also expanding. Even someone who does a little research on the internet will be able to understand that seeing Avalanche as just a coin is equivalent to not understanding this world at all. Unlimited transaction provider, superiority, transaction speed, low fees, partnerships and infrastructure that allows/recognizes many projects are among the first striking factors that are much more than a coin.
This platform enables the transfer and exchange of values with its own currency, Avax. On Avalanche, individuals and institutions can build and manage their own platform, decentralized applications (dApp) or game. Reducing the decision-making process thanks to its unique consensus model; It includes a system that increases building security. At the same time, it allows the establishment of smart contracts, whose reliability has increased especially with their use in recent years.
So why did I mention the Avalanche network and these lines that I have done? You will find the answer below in the Blockchain-Avalanche-academic studies relationship :)
Within the framework of the above, two articles will be discussed and analyzed in this article. In the first, which is called “Blockchain Economics”, it is clearly emphasized that Blockchain technology has a unique economic structure in history [2]. It is also explained with examples that it enables a decentralized, reliable and low-cost record keeping system. Throughout the article, the economic and future contributions of the system are mentioned academically (Abadi, Brunnermeier, 2018).
Comment and Evaluation for First Study:
When this whole article is taken into consideration, you can understand that decentralized networks can also guide and incorporate the academic studies of the not-too-distant future, especially in terms of speed, economy and network width. It can be said that the factors that are among the most important complaints of academicians in academic studies, such as journal fees, time constraints (returns, review evaluations, publication printing process if positive, etc.) will decrease. While this situation can be considered as a new revolution for the academic world, it is not surprising that the Avalanche network comes to mind at this point. It will also be important for journal owners, editors, employees and academics to carry out all these processes in a short time, at less cost and more reliably. Of course, it will be possible to spread this situation not only in terms of publication but also in other academic activities (such as congresses, conferences, panels, meetings, distance education).
In the second study named “Applications of Blockchains in the Internet of Things: A Comprehensive Survey”, it is mentioned that the transactions taking place in a network have been interesting in recent years and that this technology is likened to a distributed ledger that can keep an immutable log [3]. It is said that one of the fields beyond the financial sector is the Internet of Things (IoT). By conducting a survey, it was aimed to take a consistent and comprehensive picture of the current situation by asking the participants questions such as the reliability of blockchains, whether people use it or not, and whether they plan to use it in the future. The working principles of blockchains and the status of blockchain-based systems in terms of decentralization, security and auditability are discussed. As a result, it has been emphasized that the Internet of Things networks can work reliably in terms of sensors, software and hardware (Salek Ali, Vecchio at all 2019).
Comment and Evaluation for Second Study:
The subject of the Internet of Things, which is increasingly used in various subjects such as smart city applications, data collection and analysis, environmental studies, sensor technologies and security of personal data, is extremely suitable for transactions made with blockchains [4]. Of course, Avalanche can be said to be the future of the leading networks that can make this integration. It would not be a dream to say that the Avalabs team, especially its founder Emin Gün Sirer, will be a pioneer in the aforementioned issue with its academic formation and the curious and dynamic nature of the developers. All these are among the fields to be dealt with on the integration of the sectors of the near future that work with intense data (military, banking, insurance, finance, health sector, academic studies, etc.).
As a result, even the example diagrams of Figure 1 and Figure 2 are considered alone; it can be seen to what extent blockchains and the Internet of Things can be compatible with each other. As emphasized above, the creators and developers of the Avalanche network will take the biggest share of this pie in the not too distant future with its infrastructural advantages, prevalence, abundance of collaborations and opportunities.
This article, in which I examined the integration of blockchains into academic life, which is now expected by many more authorities to leave its mark on the future, I would like to end with a quote from Prof. Dr. Emin Gün SİRER who is one of the founders of Avalabs and member of Cornell University: “The task of academics is not only write articles, but also change the World.”
In the near future, it is possible to say that the Avalanche network projects will affect and change the academic life…
