Author

Mir Nawaz

Degree

Master of Science in Computer Science

Faculty / School

Faculty of Computer Sciences (FCS)

Department

Department of Computer Science

Date of Award

Fall 2019

Advisor/Supervisor

Waqas Mahmood

Committee Member 1

Waqas Mahmood Supervisor, Department of Computer Science, Institute of Business Administration (IBA), Karachi

Project Type

MSCS Survey Report

Access Type

Restricted Access

Subjects

Computer Science

Abstract / Summary

This research aims to examine the potential use cases, architecture, imitations. Scalability, and performance of blockchain frameworks, with the potential of using blockchain technology to replaced old systems and applications. Initially, block chain technology started as an innovation with the advent of bitcoin. Recently, financial giants and other companies have given more attention. Block chain technology has the potential to replace old systems that are costly and inefficient for companies. Despite that, it’s not possible to use a block chain straight away because of the low transaction rate or poor performance. Many companies have offered different solutions to overcome the poor performance of blockchain with different consensus algorithms like Proof of Work (PoW) and Proof of Stake (PoS). A public blockchain. everyone can participate but can process a small number of transactions per second. Permissioned blockchain, have e a short number of validtrusted usersnodes lo process a transaction, this allows the permissioned blockchain to have several advantages over the public blockchain. It has valid nodes that can be trusted, allowing the use of a consensus algorithm that provides much higher throughput. Furthermore, it can divide the network into segments where only a subset of nodes is required to validate transactions in a particular application, allowing scalability and parallel computing lo be used In this paper, we allow public blockchains from permitted blockchains and address notable trade-offs: scalability, usability and security, across various blockchain frameworks. Also, we use Ethereum, Hyperledger Fabric, BigchainDB 2.0, Quorum, Hyperledger Sawtooth, Multichain and Stellar to use an allowed blockchain to replace the old system used in different financial institutions and banks by use cases, advantages and architecture.

Pages

vii, 22

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