Do Not Be Fooled: Toward a Holistic Comparison of Distributed Ledger Technology Designs

Gräbe, Florian; Kannengießer, Niclas; Lins, Sebastian; Sunyaev, Ali

doi:10.24251/hicss.2020.770

Cited by 16 publications

(10 citation statements)

References 24 publications

(46 reference statements)

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“…User incentivization IoT, DA [58], [78] Attracting new users to share limited resources [48] Overcoming barriers between network environments Scalability IoT, DA, GA [11], [38], [79] An increase in the load on the centralized node occurs with an increase in traffic or the number of users All DLT methods, DAG, vDLT, Sharding, Sidechain, and cross-chain Creation of applications, where data exchange is based on the distributed registry principles Identity, security, and data management IoT, IR, GA [28], [45] The identification of an organization's assets (including people, buildings, cars, systems, and information assets) DLT design in system functionality GA [52], [30] Depending on the chosen design, the system may have certain functions.…”

Section: Dlt-based Technical Conceptmentioning

confidence: 99%

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Distributed ledger technology: State-of-the-art and current challenges

Gorbunova

Mašek

Komarov

et al. 2022

ComSIS

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Distributed Ledger Technology (DLT) is making the first steps toward becoming a solution for the growing number of various decentralized systems worldwide. Unlike pure Blockchain, DLT finds many uses across different industries, including eHealth, finance, supply chain monitoring, and the Internet of Things (IoT). One of the vital DLT features is the ability to provide an immutable and commonly verifiable ledger for larger-scale and highly complex systems. Today?s centralized systems can no longer guarantee the required level of availability and reliability due to the growing number of the involved nodes, complicated heterogeneous architectures, and task load, while the publicly available distributed systems are still in their infancy. This paper aims to provide an exhaustive topical review of the state-of-theart of Distributed Ledger Technology applicability in various sectors. It outlines the importance of the practical integration of technology-related challenges, as well as potential solutions.

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Section: Dlt-based Technical Conceptmentioning

confidence: 99%

“…The article [30] outlines DLT characteristics that are selected according to an in-depth comparison of DLT elements. In addition, a benchmarking process is proposed to structure of the DLT projects according to the application requirements.…”

Section: Dlt Design Aspectsmentioning

confidence: 99%

Distributed ledger technology: State-of-the-art and current challenges

Gorbunova

Mašek

Komarov

et al. 2022

ComSIS

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“…However, the presented processes are highly abstract and generic, they focus on questions related to whether a distributed ledger is useful at all. Some articles consider select DLT designs and compare them but hardly address causes for the viability of investigated DLT designs for applications (e.g., [17,76,77]). Other articles address the degree of decentralization (e.g., [68,70]).…”

Section: Prior Research On Trade-offs Between Dlt Characteristicsmentioning

confidence: 99%

Trade-offs between Distributed Ledger Technology Characteristics

et al. 2020

Self Cite

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When developing peer-to-peer applications on distributed ledger technology (DLT), a crucial decision is the selection of a suitable DLT design (e.g., Ethereum), because it is hard to change the underlying DLT design post hoc. To facilitate the selection of suitable DLT designs, we review DLT characteristics and identify tradeoffs between them. Furthermore, we assess how DLT designs account for these trade-offs and we develop archetypes for DLT designs that cater to specific requirements of applications on DLT. The main purpose of our article is to introduce scientific and practical audiences to the intricacies of DLT designs and to support development of viable applications on DLT.

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“…Figure 6: The blockchain trilemma is illustrated by a triangle like the one in this figure where one cannot draw a single point that is close to all the triangle corners, meaning that a trade-off among the three properties must be chosen [80].…”

Section: Scalability Decentralization Securitymentioning

confidence: 99%

What is a Blockchain? A Definition to Clarify the Role of the Blockchain in the Internet of Things

Ghiro¹,

Restuccia²,

Basagni³

et al. 2021

Preprint

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The use of the term blockchain is documented for disparate projects, from cryptocurrencies to applications for the Internet of Things (IoT), and many more. The concept of blockchain appears therefore blurred, as it is hard to believe that the same technology can empower applications that have extremely different requirements and exhibit dissimilar performance and security. This position paper elaborates on the theory of distributed systems to advance a clear definition of blockchain that allows us to clarify its role in the IoT. This definition inextricably binds together three elements that, as a whole, provide the blockchain with those unique features that distinguish it from other distributed ledger technologies: immutability, transparency and anonimity. We note however that immutability comes at the expense of remarkable resource consumption, transparency demands no confidentiality and anonymity prevents user identification and registration. This is in stark contrast to the requirements of most IoT applications that are made up of resource constrained devices, whose data need to be kept confidential and users to be clearly known. Building on the proposed definition, we derive new guidelines for selecting the proper distributed ledger technology depending on application requirements and trust models, identifying common pitfalls leading to improper applications of the blockchain. We finally indicate a feasible role of the blockchain for the IoT: myriads of local, IoT transactions can be aggregated off-chain and then be successfully recorded on an external blockchain as a means of public accountability when required.

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Do Not Be Fooled: Toward a Holistic Comparison of Distributed Ledger Technology Designs

Cited by 16 publications

References 24 publications

Distributed ledger technology: State-of-the-art and current challenges

Distributed ledger technology: State-of-the-art and current challenges

Trade-offs between Distributed Ledger Technology Characteristics

What is a Blockchain? A Definition to Clarify the Role of the Blockchain in the Internet of Things

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