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Introduction Research Problem Specification Project ...
Nov 17, 2017 - five objectives were determined to map out the milestones required for a successful project and these are listed in Achievements and.
Design, Implement and Evaluate the build of a Cryptocurrency for Edinburgh Napier University on an Open source Blockchain platform Brian Mackay 40216091 – BEng (Hons) in Cyber Security and Forensics – Edinburgh Napier University – School of Computing
Introduction The main aim of this Honours project was to build a working prototype Blockchain using the open source Multichain platform in order to host a Cryptocurrency for Edinburgh Napier University and analyse how it performs. To successfully achieve this main aim, five objectives were determined to map out the milestones required for a successful project and these are listed in Achievements and Conclusions section.
Research Problem • 1 – To Build a working prototype Blockchain hosting a Cryptocurrency. • 2 – To gain an understanding of Blockchain and Cryptocurrencies. • 3 – To Implement, test and validate the new prototype Cryptocurrency running on a Blockchain.
Hardware
Software
Main node running Multichaind open source platform (uses Apache2, 1 x Ubuntu Linux 16.04 virtual machine MySQL Server, PHP & Libraries, Curl, (ENUChain1) Git and Multichain Explorer (uses SQLite and Python). 2 x Ubuntu Linux 16.04 virtual machines (ENUChain2 and ENUChain3)
Secondary nodes running Multichaind only connected to ENUChain1 to form The ENUChain Blockchain
ENUChain2 and ENUChain3 connect to the main node ENUChain1. All 3 nodes run Dual core CPU, 4 GB of RAM and a 20 GB HDD
(Multichaind and Multichain Explorer are the main applications running the Blockchain and Explorer shows transactions in a web based format)
• 4 - To fully document the process from start to finish along with the use of known Project management tools and techniques. • 5 - To present a final Dissertation and presentation poster, then orally defend the outcomes and findings of this project with my Supervisor and second marker.
Milestones and Results
Specification
• The very first connection on the Blockchain and the first Genesis block created on 17.11.17.
• Multichain Explorer displaying the first and last transactions on the ENUChain Blockchain.
Project Deliverables Research
Blockchain design
Cryptocurrency Implementation
System testing and Conclusions
A comprehensive literary review using trusted sources to find up to date research material related to Blockchain and Cryptocurrency
Designed a working prototype Blockchain running The Multichain open source platform
Configured a Cryptocurrency running on the Multichain Blockchain system
Carry out a series of tests to prove that the Cryptocurrency running on the Blockchain works as per the original design and provide conclusions.
The Process Explained
•
Here are my achievements during the project. The initial objectives at the start of the project were met successfully, which were:
•
1 – Designing – I designed and built a working prototype Blockchain hosting a Cryptocurrency.
•
2 – Researching – Using The Edinburgh Napier University Library resources I gained a in-depth understanding of Blockchain and Cryptocurrencies.
• Three types are covered in the main Dissertation report:
•
• 1 – Bitcoin – the very first and main Cryptocurrency, initially developed in 2009 by Satoshi Nakamoto. Value has increased to $15,000 and has dropped back down to roughly $8-9000 for 1 BTC.
3 – Building and Testing – I Implemented and tested the new prototype Blockchain hosting a Cryptocurrency.
•
4 – Project Management and Communication skills – I fully documented the research, designing, building and testing process from start to finish along with the use of known Project management tools and techniques such as a Gantt chart, MoSCoW table, Outlook Calendar, Google Drive storage, Slack, a project diary and meeting minutes.
•
5 – Presentation Skills - To present a final Dissertation and presentation poster, then orally defend the outcomes and findings from this project with my Supervisor and second marker.
Cryptocurrency examples
The Blockchain Design
Achievements and Conclusions
• 2 – Ethereum – Described on blockgeeks.com as “an open software platform based on blockchain technology that enables developers to build and deploy decentralized applications” (Blockgeeks, 2018). • 3 – Scotcoin – Started in 2014 by Derek Nisbet and now owned by a group of FinTech enthusiasts in Glasgow since 2016. Moving to their own private, fully permissioned, KYC (Know Your Customer) and AML (Anti-money Laundering) compliant Blockchain in Q2 in 2018. Currently 1000 SCOT costs £20.
References • Steem.com. (2018). Retrieved from https://steemkr.com/blockchain/@shadowoflife/blockchain •
BlockGeeks.com. (2017). Retrieved from https://blockgeeks.com/guides/what-is-ethereum/
• Blockchain Logo (top right) from videoblocks.com
