Systematization of Knowledge on Scalability Aspect of Blockchain Systems

Abstract

Blockchains has redefined the way software industry’s core mechanisms operate. Advent of blockchains have intrigued the industry and research community by the properties like immutability, reliability and availability it adheres. Since then, community has observed extensive research to make this technology viable and replace the existing computing paradigms. Blockchain technology promises global, immutable, self-governed system of records with no intermediaries. Technology with such properties have strong use cases where a secure audit trail is quintessential. But the performance of blockchains is not at par with the existing industry standards making industry reluctant to surge towards the blockchains. This paper presents a comprehensive analysis on the recent approaches used to enhance the performance of blockchain systems.