A Comparative Analysis of Distributed Ledger Technology Platforms

Mohammad Jabed Morshed Chowdhury,Niaz Chowdhury,A S M Kayes,Md Sadek Ferdous,Kamanashis Biswas,Mamoun Alazab,Paul Watters

doi:10.1109/access.2019.2953729

Abstract

Distributed Ledger Technology (DLT) has emerged as one of the most disruptive technologies in the last decade. It promises to change the way people do their business, track their products, and manage their personal data. Though the concept of DLT was first implemented in 2009 as Bitcoin, it has gained significant attention only in the past few years. During this time, different DLT enthusiasts and commercial companies have proposed and developed several DLT platforms. These platforms are usually categorized as public vs private, general purpose vs application specific and so on. As a growing number of people are interested to build DLT applications, it is important to understand their underlying architecture and capabilities in order to determine which DLT platform should be leveraged for a specific DLT application. In addition, the platforms need to be evaluated and critically analyzed to assess their applicability, resiliency and sustainability in the long run. In this paper, we have surveyed several leading DLT platforms and evaluated their capabilities based on a number of quantitative and qualitative criteria. The comparative analysis presented in this paper will help the DLT developers and architects to choose the best platform as per their requirement(s).

Highlights

The emergence of Distributed Ledger Technology (DLT), with strong support for data integrity, authenticity and provenance, has opened up the door of opportunities in different domains
EVALUATION AND DISCUSSION This section presents our evaluation of the selected DLT platforms against the chosen evaluation criteria
CONCLUSION the DLT is considered potentially disruptive in many ways, there is a lack of basic understanding how to use this emerging technology effectively in different domains

Summary

Introduction

The emergence of Distributed Ledger Technology (DLT), with strong support for data integrity, authenticity and provenance, has opened up the door of opportunities in different domains. One form of distributed ledger design is blockchain which records agreements, contracts and sales in a continually updated list. Initially developed to support crypto-currency, this peer-to-peer system has come into prominence and gained popularity across a wide range of industry applications, as for example, supply chain, healthcare, education, finance, transport and governance. The inherent properties of DLT such as resiliency, integrity, anonymity, decentralization and autonomous control have fostered the early adoption of this technology in almost every application. The experts and researchers all around the globe have been trying to explore the strengths and weaknesses of this game changing technology for the last couple of years

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Conclusion