Master of Science in Computer Science
Department of Computer Science
Faculty / School
Faculty of Computer Sciences (FCS)
Date of Submission
Waqas Mahmood, Visiting Faculty, Department of Computer Science
MSCS Survey Report
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.
Nawaz, M. (2019). Survey of performance and scalability of blockchain technologies (Unpublished MSCS survey report). Institute of Business Administration, Pakistan. Retrieved from https://ir.iba.edu.pk/survey-reports-mscs/57
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