PageRank and HodgeRank on Ethereum Transactions: A Measure for Social Credit

Mathematical ranking plays a critical role in the era of the internet and bigdata. Google's PageRank is well-known as a trillion-dollar algorithm. Definitely, algorithmic ranking frameworks are found on every search engine. In this paper, the article shall investigate how PageRank can be applie...

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Bibliographic Details
Published in:International journal of software innovation 2023-01, Vol.11 (1), p.1-13
Main Authors: Do, Huu-Dung, Do, Thuat
Format: Article
Language:English
Subjects:
Algorithms
Blockchain
Coins
Credit ratings
Crypto-currencies
Cryptography
Digital currencies
Financial institutions
Measurement
Ranking
Search algorithms
Search engines
Social aspects
Social factors
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Summary:Mathematical ranking plays a critical role in the era of the internet and bigdata. Google's PageRank is well-known as a trillion-dollar algorithm. Definitely, algorithmic ranking frameworks are found on every search engine. In this paper, the article shall investigate how PageRank can be applied in the blockchain space to build up reliable and verifiable social credit and reputation systems. It is expected to provide a measure of credibility complementary and parallel with FICO, which is not applicable for individuals lacking credit information in financial institutions. Moreover, the approach proposes an unbiased method of interpreting and measuring real social interaction and reputation ranking on a blockchain network. The authors envision a future of payment based on cryptocurrencies (especially stable coins) and digital fiats; thus the proposed credit scoring framework shall be helpful for P2P credit and lending networks, possibly for decentralized finance (Defi) applications.
ISSN:2166-7160
2166-7179
DOI:10.4018/IJSI.315737