Untangling Blockchain: A Data Processing View of Blockchain Systems - 2018


Blockchain technologies are gaining massive momentum in the previous few years. Blockchains are distributed ledgers that enable parties who don't totally trust each different to take care of a set of world states. The parties agree on the existence, values, and histories of the states. Because the technology landscape is expanding rapidly, it is both vital and difficult to own a firm grasp of what the core technologies have to supply, especially with respect to their data processing capabilities. In this Project, we tend to initial survey the state-of-the-art, focusing on personal blockchains (in which parties are authenticated). We have a tendency to analyze each in-production and research systems in four dimensions: distributed ledger, cryptography, consensus protocol, and good contract. We have a tendency to then gift BLOCKBENCH, a benchmarking framework for understanding performance of non-public blockchains against information processing workloads. We tend to conduct a comprehensive evaluation of 3 major Blockchain systems based on BLOCKBENCH, namely Ethereum, Parity, and Hyperledger Fabric. The results demonstrate several trade-offs in the design house, with massive performance gaps between Blockchain and database systems. Drawing from design principles of database systems, we discuss several research directions for bringing Blockchain performance nearer to the realm of databases.

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