Deferral: on the Feasibility of High-volume Blockchain-based Referral Systems
Journal
2023 5th Conference on Blockchain Research & Applications for Innovative Networks and Services (BRAINS)
Type
conference paper
Date Issued
2023-10-11
Author(s)
Abstract
Digital marketing has transformed referral marketing, revealing limitations in traditional centralized systems such as trust, transparency, and efficiency, however, the potential advantages of decentralized systems remain underexplored. This paper investigates the feasibility of a high-volume, decentralized referral system. The approach assesses smart contract prototypes for cost-effectiveness and performance in high-user engagement scenarios in different EVM-compatible blockchains and referral strategies, such as multilevel referrals. Findings confirm the technical viability as a blueprint for designing and implementing similar systems, highlighting challenges in realworld deployments, such as Sybil attacks, and the interplay between technical and economical design factors.
Keywords
Referral System
Blockchain
Decentralized
Digital Marketing
Publisher
IEEE
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open.access
Name
Deferral_on_the_Feasibility_of_High-Volume_Blockchain-based_Referral_Systems.pdf
Size
318.48 KB
Format
Adobe PDF
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