PDF Publication Title:
Text from PDF Page: 014
Appl. Sci. 2021, 11, 9372 14 of 27 fewer rewards are left in the queue, leading to longer transaction latency [30]. It is esti- mated that more than 10 k transactions are waiting to be verified. The highest transaction throughput in Bitcoin is capped at 7 TPS (Transaction-per- second). In contrast to the VISA counterpart, 400 TPS is the norm [5,6,29–31] The block interval latency (in public blockchains) is in a magnitude of up to 10 min [32]for a trans- action to be verified. Ethereum was to be theoretically verified at the rate of 1k TPS, but due to certain limitations in its structure, is more likely to be verified at 20 TPS. This is far less than other electronic payment methods such as PayPal—at 193 TPS. Besides the inef- ficiency in the transaction verification process, another crucial factor of importance is stor- age, which needs to be seriously considered [5]. As transactions grows, the required stor- age capacity for blocks needs to scale up at tandem. It is reported that currently, Bitcoin storage is more than 305.23 GB [8], Ethereum is at 667.110 GB [8], and LiteCoin at 28.45 GB. It should be mentioned here that energy consumption is also a crucial issue in public blockchain implementation. When comparing the consumption of electricity by Bitcoin with other cryptocurrencies, Bitcoin was in the 49th position [5]. It is interesting to note that actual consumption of electricity by Bitcoin is less than the predicted scale, which may suggest that the Bitcoin could not scale well per expectations and predictions. The combination of all the limitations mentioned above is apparently degrading the performance of public blockchain decentralized applications. The low throughput, high latency, high storage, and high energy consumption cannot satisfy the large-scale imple- mentation of blockchain in time-mission-critical or real-time applications. The Internet of Things (IoT) is a technology that is growing aggressively, and it is embracing blockchain as an integral component in IoT security applications. IoT was tagged as “The Global Infrastructure of the Information Society” by ITU in 2015 [14]. Be- sides the many benefits, IoT has some limitations. Public blockchains have been techni- cally considered to address those issues by decentralizing computation powers, pro- cessing, and storage. Unfortunately, public blockchain is still suffering from scalability matters in IoT applications [33,34]. Principally, public blockchain technology is not suita- ble for lightweight IoT devices. In blockchain, a node is supposed to verify every transac- tion and perform search in every block, likely an extremely heavy load for lightweight IoT devices. As discussed earlier, public blockchains require massive resources to support their operations and are highly constrained by consensus delay, making it almost impos- sible to deploy them in small/low spec IoT devices. It would not be possible for IoT devices to verify a transaction without a massive amount of historical data. IoT therefore needs to either carry high storage by itself or rely on a centralized server. While considering the large-scale storage requirement in public blockchains, it is worth to also examine the fi- nancial aspects. For example, in Ethereum, it costs 2 × 105 US Dollars per gigabyte of data storage, making it probably highly expensive to implement IoT networks with blockchain [35]. The storage requirement for the IoT network is very much dependent on the types of application. As such, the overall data storage size could be destructive in IoT-enabled blockchain since each block would be replicated n times in the n-node public blockchain networks. For example, in smart city application, vehicular traces of 700 cars for 24 h de- mand a storage capacity of close to 4.03 GB, which is about 0.24 MB per hour per car [36]. In public blockchains, high latency can be due to transaction confirmation. This be- havior may cause inconsistency in a decentralized environment. The usual tolerated la- tency in blockchain is not suitable in many IoT applications. For example, in Bitcoin, the confirmation time is 10 min, which can be an extremely long delay for sensitive IoT appli- cations such as vehicular networks. In the light of all these limitations, it is obvious that scalability issue is persisting and degrading the performance of IoTs enabled with block- chain.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)