An Analysis and Enumeration of the Blockchain and Future Implications

The blockchain is a relatively new technology that has grown in interest and potential research since its inception. Blockchain technology is dominated by cryptocurrency in terms of usage. Research conducted in the past few years, however, reveals blockchain has the potential to revolutionize several different industries. The blockchain consists of three major technologies: a peer-to-peer network, a distributed database, and asymmetrically encrypted transactions. The peer-to-peer network enables a decentralized, consensus-based network structure where various nodes contribute to the overall network performance. A distributed database adds additional security and immutability to the network. The process of cryptographically securing individual transactions forms a core service of the blockchain and enables semi-anonymous user network presence

Performance Analysis of Blockchain Platforms

Blockchain technologies have drawn massive attention to the world these past few years mostly because of the burst of cryptocurrencies like Bitcoin, Etherium, Ripple and many others. A Blockchain, also known as distributed ledger technology, has demonstrated huge potential in saving time and costs. This open-source technology which generates a decentralized public ledger of transactions is widely appreciated for ensuring a high level of privacy through encryption and thus sharing the transaction details only amongst the participants involved in the transactions. The Blockchain is used not only for cryptocurrency but also by various companies to meet their business ends, such as efficient management of supply chains and logistics. The rise and fall of numerous crypto-currencies based on blockchain technology have generated debate among tech-giants and regulatory bodies. There are various groups which are working on standardizing the blockchain technology. At the same time, numerous groups are actively working, developing and fine-tuning their own blockchain platforms. Platforms such as etherium, hyperledger, parity, etc. have their own pros and cons. This research is focused on the performance analysis of blockchain platforms which gives a comparative understanding of these platforms