Abstract
Blockchain has been envisioned to be a disruptive technology with potential for applications in various industries. As more and more different blockchain platforms have emerged, it is essential to assess their performance in different use cases and scenarios. In this paper, we conduct a systematic survey on the blockchain performance evaluation by categorizing all reviewed solutions into two general categories, namely, empirical analysis and analytical modelling. In the empirical analysis, we comparatively review the current empirical blockchain evaluation methodologies, including benchmarking, monitoring, experimental analysis and simulation. In analytical modelling, we investigate the stochastic models applied to performance evaluation of mainstream blockchain consensus algorithms. Through contrasting, comparison and grouping different methods together, we extract important criteria that can be used for selecting the most suitable evaluation technique for optimizing the performance of blockchain systems based on their identified bottlenecks. Finally, we conclude the survey by presenting a list of possible directions for future research.
Highlights
Since its first introduction in Bitcoin by Nakamoto and Bitcoin [1] in 2008, blockchain has been recognized as a disruptive technology in various industries beyond cryptocurrency, including finance [2], [3], Internet of Things (IoT) [4], [5], health care [6], [7], energy [8]–[10] and logistics [11], [12]
EXPERIMENTAL ANALYSIS OF BLOCKCHAIN SYSTEMS we look at distributed ledger technologies (DLTs) performance evaluation from the perspective of empirical analysis based on self-designed experiments
Micro metrics depict the performance of different subprocesses of transactions or specific layers in the blockchain abstract model for developers, such as peer discovery rate, remote procedure call (RPC) response rate, transaction propagating rate, contract execution time, state updating time, consensus-cost time, encryption and hash function efficiency
Summary
Since its first introduction in Bitcoin by Nakamoto and Bitcoin [1] in 2008, blockchain has been recognized as a disruptive technology in various industries beyond cryptocurrency, including finance [2], [3], Internet of Things (IoT) [4], [5], health care [6], [7], energy [8]–[10] and logistics [11], [12]. Bitcoin can only achieve a low throughput of 7 transactions per second (TPS), and it takes around 10 minutes for a transaction to get confirmed [13]. Current centralized payment systems such as VisaNet and MasterCard can reach thousands of TPS and almost real-time payments. Blockchain is a major type of distributed ledger technologies (DLTs). The relationship of blockchain to DLT is just like the car to the vehicle [46]. For new information to be added to this ledger, all participating nodes must reach a consensus on whether the information is legitimate or not. The algorithm which determines how this decision is reached, called consensus algorithm, is an important part of the DLT. We introduce a categorization of DLT and its abstraction layer architecture
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