Blockchain Scalability: Solutions, Challenges and Future Possibilities

Title

Blockchain Scalability: Solutions, Challenges and Future Possibilities

Creator

Roy M.; Singh M.; Radhakrishnan B.

Description

In recent years, blockchain has received a lot of interest and has also been widely adopted. Yet, blockchain scalability is proving to be a difficult problem. To create a new node in platforms like Bitcoin takes few days of time. This scalability problem has few proposed solutions. The present alternatives to blockchain scalability are divided into two groups in this paper: first layer and second layer techniques. Second layer solutions suggest procedures that are deployed outside of the blockchain, while first layer methods propose adjustments to the blockchain (i.e., altering the blockchain design, such as block size). We concentrate on sharding as a viable first-layer solution to the scalability problem. The thought behind sharding is to split the blockchain network into numerous groups, each processing a different set of transactions. Furthermore, we compare few of the already available sharding-based blockchain solutions and present a performance-based comparative analysis in form of the benefits and drawbacks of the existing solutions. 2023, The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.

Source

Lecture Notes in Electrical Engineering, Vol-1026 LNEE, pp. 133-149.

Date

2023-01-01

Publisher

Springer Science and Business Media Deutschland GmbH

Subject

Blockchain; First layer solutions; Scalability; Second layer solutions; Sharding

Coverage

Roy M., Computer Science Department, Christ (Deemed to Be) University, Bengaluru, India, Department of Computer Applications, CMR Institute of Technology, Bengaluru, India; Singh M., Computer Science Department, Christ (Deemed to Be) University, Bengaluru, India; Radhakrishnan B., JPMorgan Chase & Co., New York, 10017, NY, United States

Rights

Restricted Access

Relation

ISSN: 18761100; ISBN: 978-981991409-8

Format

Online

Language

English

Type

Conference paper

Identifier

https://doi.org/10.1007/978-981-99-1410-4_12

https://www.scopus.com/inward/record.uri?eid=2-s2.0-85164905257&doi=10.1007%2f978-981-99-1410-4_12&partnerID=40&md5=078872339c94989bdd2f324536b40df2