research-article

The Challenge and Prospect of Scalability of Blockchain Technology

Author:

Lizhi WangAuthors Info & Claims

CSAI '21: Proceedings of the 2021 5th International Conference on Computer Science and Artificial Intelligence

Pages 296 - 301

https://doi.org/10.1145/3507548.3507594

Published: 09 March 2022 Publication History

Abstract

Blockchain is a decentralized technology proposed by Satoshi Nakamoto in 2008, without relying on trust, irrevocable and modified, based on a consensus mechanism. Blockchain technology was not created out of thin air, but was born as the underlying technology of bitcoin, a digital currency. Now it has received widespread attention for its implementation in distributed ledger. However, in the current era, the application of blockchain technology in actual scenarios has not yet matured, mainly due to some characteristics of blockchain technology itself. After weighing its advantages and disadvantages, it is increasingly becoming its limitation. One of the main aspects is the poor scalability of the blockchain, which not only limits the functional expansion of the blockchain and makes it impossible to apply the blockchain technology to a wider range of scenarios, but also limits the throughput of the blockchain system to a certain extent Promotion. Taking into account the characteristics and bottlenecks of the above-mentioned blockchain technology, different from previous studies, this article from the perspective of blockchain expansion, introduces some existing expansion technologies in solving the transaction rate of the blockchain, and analyzes its principles and feasibility. Through the classification and comparison of different expansion technologies, the advantages and possible disadvantages of various expansion technologies are described. Finally, on the basis of fully understanding the existing blockchain expansion technology, the outlook for the future development of blockchain expansion technology is proposed, with a view to providing some suggestions for the development of the blockchain expansion technology.

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Cited By

Adhikari NRamkumar M(2023)IoT and Blockchain Integration: Applications, Opportunities, and ChallengesNetwork10.3390/network30100063:1(115-141)Online publication date: 24-Jan-2023
https://doi.org/10.3390/network3010006
Jung HLee HKim J(2023)Unveiling Cryptocurrency Conversations: Insights From Data Mining and Unsupervised Learning Across Multiple PlatformsIEEE Access10.1109/ACCESS.2023.333461711(130573-130583)Online publication date: 2023
https://doi.org/10.1109/ACCESS.2023.3334617
Yu BFeng LZhu HQiu FWan JYao S(2023)MeHLDT: A multielement hash lock data transfer mechanism for on-chain and off-chainPeer-to-Peer Networking and Applications10.1007/s12083-023-01491-z16:4(1927-1943)Online publication date: 14-Jun-2023
https://doi.org/10.1007/s12083-023-01491-z

Index Terms

The Challenge and Prospect of Scalability of Blockchain Technology
1. Applied computing
2. Software and its engineering

Index terms have been assigned to the content through auto-classification.

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CSAI '21: Proceedings of the 2021 5th International Conference on Computer Science and Artificial Intelligence

December 2021

437 pages

ISBN:9781450384155

DOI:10.1145/3507548

Copyright © 2021 ACM.

Permission to make digital or hard copies of all or part of this work for personal or classroom use is granted without fee provided that copies are not made or distributed for profit or commercial advantage and that copies bear this notice and the full citation on the first page. Copyrights for components of this work owned by others than ACM must be honored. Abstracting with credit is permitted. To copy otherwise, or republish, to post on servers or to redistribute to lists, requires prior specific permission and/or a fee. Request permissions from [email protected]

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Published: 09 March 2022

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CSAI 2021: 2021 5th International Conference on Computer Science and Artificial Intelligence

December 4 - 6, 2021

Beijing, China

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Cited By

Adhikari NRamkumar M(2023)IoT and Blockchain Integration: Applications, Opportunities, and ChallengesNetwork10.3390/network30100063:1(115-141)Online publication date: 24-Jan-2023
https://doi.org/10.3390/network3010006
Jung HLee HKim J(2023)Unveiling Cryptocurrency Conversations: Insights From Data Mining and Unsupervised Learning Across Multiple PlatformsIEEE Access10.1109/ACCESS.2023.333461711(130573-130583)Online publication date: 2023
https://doi.org/10.1109/ACCESS.2023.3334617
Yu BFeng LZhu HQiu FWan JYao S(2023)MeHLDT: A multielement hash lock data transfer mechanism for on-chain and off-chainPeer-to-Peer Networking and Applications10.1007/s12083-023-01491-z16:4(1927-1943)Online publication date: 14-Jun-2023
https://doi.org/10.1007/s12083-023-01491-z

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