PDF Publication Title:
Text from PDF Page: 002
Appl. Sci. 2021, 11, 9372 2 of 27 transaction’s security. In contrast, blockchain is an immutable distributed ledger of cryp- tographically signed transactions maintained by a peer-to-peer network, where no third party is required to manage the information, and trust is no longer an issue among the network participants. Blockchain technology is one of the most hyped decentralized innovations, with an enlightening future. Blockchain was introduced by Haber and Stornetta [1] and later gained intense attention because of the Bitcoin principle by Namakoto in 2008 [2]. Bitcoin is highly successful in the cryptocurrency arena. Many similar currencies have were launched following Bitcoin. There were 2017 crypto currencies available on the internet by 2019 [3], with different business models. Besides global crypto currency hype, Bitcoin holds the highest market capitalization up to 53%. Blockchain is serving as the fundamen- tal technology behind Bitcoin. The survey conducted by World Economic Forum [4] showed that blockchain will be soaring to 10% of global GDP by 2027. It has been two decades since the launch of Bitcoin as the first public blockchain ap- plication. Till then, blockchain technology had been restricted to cryptocurrency (Bitcoin and Ethereum) public blockchains settings. It has hardly been accepted in other industries since. Among the many hindrances, scalability is found to be the key hurdle in imple- menting public blockchains in many real business environments. In general, scalability has not been well-defined in the literature. Basically, the scalability issue arises with the increasing number of nodes and trans- actions in blockchain. This issue is indeed present in major public blockchain applications (e.g., Bitcoin and Ethereum) because every node needs to store and execute a computa- tional task to validate every transaction. The public blockchains are therefore always de- manding a huge amount of computational power, a high bandwidth internet connection, and massive storage space. Transaction throughput and transaction latency are the two most discussed performance metrics in blockchain, and both have not reached a satisfac- tory QoS level in many recent popular public blockchain systems. For instance, Bitcoin and Ethereum are able to process 7 [5,6] to 20 [7] transactions-per-second (TPS), but they also face high consensus processing time delays (the average time required to mine a block) at a magnitude of up to 10 min. Besides efficiency, the current size of Bitcoin, Ethereum, and Litecoin are, respectively, 305.23 GB, 667.10 GB, and 28.45 GB [8], causing great demand on storage spaces. The time needed to download the whole blockchain is considerable. Several studies deliberated the concept of scalability trilemma [5,8]. Initially, it was described by Vitalik Buterin, the co-founder of Ethereum [9] . Vitalik stated that trade-offs are inevitable between three important blockchain properties: decentralization, scalabil- ity, and security (see Figure 1). Decentralization is the core and the nature of blockchain. Security is an essential propriety, whereas scalability is the main challenge. In other words, the scalability trilemma states that trade-offs are almost inevitable among these characteristics of blockchain [10,11]. Figure 1. Scalability trilemma.PDF Image | Review of Challenges in Blockchain Scalability
PDF Search Title:
Review of Challenges in Blockchain ScalabilityOriginal File Name Searched:
applsci-11-09372.pdfDIY PDF Search: Google It | Yahoo | Bing
NFT (Non Fungible Token): Buy our tech, design, development or system NFT and become part of our tech NFT network... More Info
IT XR Project Redstone NFT Available for Sale: NFT for high tech turbine design with one part 3D printed counter-rotating energy turbine. Be part of the future with this NFT. Can be bought and sold but only one design NFT exists. Royalties go to the developer (Infinity) to keep enhancing design and applications... More Info
Infinity Turbine IT XR Project Redstone Design: NFT for sale... NFT for high tech turbine design with one part 3D printed counter-rotating energy turbine. Includes all rights to this turbine design, including license for Fluid Handling Block I and II for the turbine assembly and housing. The NFT includes the blueprints (cad/cam), revenue streams, and all future development of the IT XR Project Redstone... More Info
Infinity Turbine ROT Radial Outflow Turbine 24 Design and Worldwide Rights: NFT for sale... NFT for the ROT 24 energy turbine. Be part of the future with this NFT. This design can be bought and sold but only one design NFT exists. You may manufacture the unit, or get the revenues from its sale from Infinity Turbine. Royalties go to the developer (Infinity) to keep enhancing design and applications... More Info
Infinity Supercritical CO2 10 Liter Extractor Design and Worldwide Rights: The Infinity Supercritical 10L CO2 extractor is for botanical oil extraction, which is rich in terpenes and can produce shelf ready full spectrum oil. With over 5 years of development, this industry leader mature extractor machine has been sold since 2015 and is part of many profitable businesses. The process can also be used for electrowinning, e-waste recycling, and lithium battery recycling, gold mining electronic wastes, precious metals. CO2 can also be used in a reverse fuel cell with nafion to make a gas-to-liquids fuel, such as methanol, ethanol and butanol or ethylene. Supercritical CO2 has also been used for treating nafion to make it more effective catalyst. This NFT is for the purchase of worldwide rights which includes the design. More Info
NFT (Non Fungible Token): Buy our tech, design, development or system NFT and become part of our tech NFT network... More Info
Infinity Turbine Products: Special for this month, any plans are $10,000 for complete Cad/Cam blueprints. License is for one build. Try before you buy a production license. May pay by Bitcoin or other Crypto. Products Page... More Info
CONTACT TEL: 608-238-6001 Email: greg@infinityturbine.com (Standard Web Page)