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Blockchain is one of the most powerful and promising technologies nowadays in the IT industry, One of Blockchain's main features is the presence of a Consensus Algorithm, which is responsible for maintaining the security and integrity of the entire blockchain network where all the nodes participating in the network reach a certain agreement. However, some algorithms like the Proof-of-Work require very high energy consumption to reach a single agreement by solving a puzzle and provides a low throughput (3-7 transactions/second), thus, it may not be very reliable in blockchain solutions. In this paper, we aim to provide a reliable choice for different business use-cases by proposing a modification in the Istanbul Byzantine Fault Tolerance voting-based algorithm that provides a higher throughput (up to 1140 tx/s), which will be very important to be used in the use case called a letter of credit which is a part of trade finance (relation between exporter, importer and the bank institutions). [ABSTRACT FROM AUTHOR]

Abstract: This paper demonstrates that short sales are often misclassified as buyer-initiated by the Lee–Ready and other commonly used trade classification algorithms. This result is due in part to regulations which require that short sales be executed on an uptick or zero-uptick. In addition, while the literature considers “immediacy premiums” in determining trade direction, it ignores the often larger borrowing premiums that short sellers must pay. Since short sales constitute approximately 30% of all trade volume on U.S. exchanges, these results are important to the empirical market microstructure literature, as well as to measures that rely upon trade classification, such as the probability of informed trading (PIN) metric. [Copyright &y& Elsevier]