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Nano Information Technology (NIT)

Comparative analysis of blockchain trilemma

초록

영어

The purpose of this study is to review the proposed solutions to the Blockchain trilemma put forward by various research scholars and to draw conclusions by comparing the findings of each study. We found that the models so far developed either compromise scalability, decentralization, or security. The first model compromises decentralization. By partially centralizing the network, transaction processing speed can be improved, but security strength is weakened. Examples of this include Algorand and EOS. Because Algorand randomly selects the node that decides the consensus, the security of Algorand is better than EOS, wherein a designated selector decides. The second model recognizes that scalability causes a delay in speed when transactions are included in a block, reducing the system's efficiency. Compromising scalability makes it possible to increase decentralization. Representative examples include Bitcoin and Ethereum. Bitcoin is more vital than Ethereum in terms of security, but in terms of scalability, Ethereum is superior to Bitcoin. In the third model, information is stored and managed through various procedures at the expense of security. The application case is to weaken security by applying a layer 1 or 2 solution that stores and reroutes information. The expected effect of this study is to provide a new perspective on the trilemma debate and to stimulate interest in continued research into the problem.

목차

Abstract
1. Introduction
2. Literature Review
2.1. Background of the Blockchain Trilemma
2.2. Blockchain Trilemma for Sustainability: Fundamentals
3. Methodology
4. Analysis
4.1. Analysis Outline
4.2. Limited Validator Solution
4.3. Layer 1 Solutions
4.4. Layer 2 Solutions
5. Results and Discussion: Comparative Analysis and Implications
5.1. Comparison between Layer 1 and Layer 2 Solutions
5.2. Findings: Three Models for Compromise
6. Conclusions and further recommendation
Acknowledgments
Funding
Author Contributions
References

저자정보

  • Soonduck Yoo Professor, Department of Management, Hansei University, Korea

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