BLONDiE: Blockchain Ontology with Dynamic Extensibility
This addresses data management challenges for blockchain users and developers, but it is incremental as it extends existing ontology work to new platforms.
The paper tackles the lack of standardized information for managing blockchain data by developing BLONDiE, an ontology that semantically represents knowledge for Bitcoin, Ethereum, and Hyperledger, enabling common data formats for processing like semantic queries.
There are thousands of projects worldwide based primarily on blockchain technology. These have a large number of users and hundreds of use cases. One of the most popular is the use of cryptocurrencies and their benefits against money without intrinsic value (fiat money) and centralized financial solutions. However, although thousands of new transactions are carried out daily in different platforms, uniform and standardized information does not exist to be able to manage the large amount of data that is generated and exchanged between users through transactions and the generation of new blocks. This research reports the development of BLONDiE, an ontology that allows the semantic representation of knowledge to describe the native structure and related information of the three most relevant blockchain projects to date: Bitcoin, Ethereum and in the recent 1.0 version extends its definitions to include Hyperledger, specifically the Hyperledger Fabric infrastructure. Its use allows having common data formats of different platforms for further processing, such as the execution of semantic queries.