The Loop of the Rings: A Fully Decentralized Cooperative System (The Concept)

TL;DR

The paper introduces LoR, a fully decentralized cooperative system that emphasizes collaboration over transactions, providing a secure, reliable, and mathematically modeled platform suitable for diverse roles like freelancing, IoT, and 5G services.

Contribution

It presents a novel ring-based decentralized structure with operating rules and randomized procedures, rigorously proving its security, reliability, and efficiency.

Findings

LoR is secure and reliable based on rigorous proofs.

The system can be efficiently implemented with low communication complexity.

It supports diverse roles including freelancing, IoT, and 5G services.

Abstract

We introduce $LoR$, a secure, fully decentralized, and distributed cooperative system, where $LoR$ stands for "the Loop of the Rings". Distinct from conventional transaction-oriented systems, $LoR$ prioritizes {\it cooperation} using its ring-based structure, making it possible to be used both as a cooperative workspace as well as a versatile platform for service provisioning, accommodating various roles such as freelancers, IoT management systems, and even managing 5G-related services. Within this system, users have access to a secure and reliable environment, enabling them to offer a specific set of services to a potentially vast number of users. Our main contribution is to introduce the new structure along with its operating rules and principles, applying a combination of randomized procedures, in such a way that the whole system can be modeled fairly accurately in mathematically rigorous terms. This, in particular, is used to provide rigorous proof for the facts that $LoR$ is both reliable and secure and that it may be efficiently implemented based on its typical communication complexity.