Performance Evaluation of the Quorum Blockchain Platform

Baliga, Arati; Subhod, I; Kamat, Pandurang; Chatterjee, Sabyasachi

doi:10.48550/arxiv.1809.03421

Cited by 36 publications

(43 citation statements)

References 2 publications

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“…In conclusion, in our experiments, MSPT with PPAC is almost five times faster than the reported performance of private contracts on JP Morgan Chase's Quorum blockchain [4], which has a less capable privacy model than MSPT.…”

Section: Methodsmentioning

confidence: 61%

Multi-Shard Private Transactions for Permissioned Blockchains

Androulaki,

De Caro,

Elkhiyaoui

et al. 2020

Preprint

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Traditionally, blockchain systems involve sharing transaction information across all blockchain network participants. Clearly, this introduces barriers to the adoption of the technology by the enterprise world, where preserving the privacy of the business data is a necessity. Previous efforts to bring privacy and blockchains together either still leak partial information, are restricted in their functionality [24] or use costly mechanisms like zk-SNARKs [5]. In this paper, we propose the Multi-Shard Private Transaction (MSPT) protocol, a novel privacy-preserving protocol for permissioned blockchains, which relies only on simple cryptographic primitives and targeted dissemination of information to achieve atomicity and high performances.

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Section: Methodsmentioning

confidence: 61%

Multi-Shard Private Transactions for Permissioned Blockchains

Androulaki,

De Caro,

Elkhiyaoui

et al. 2020

Preprint

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“…These requirements, in terms of performance, are studied in many research papers [8,9,21,27,31,32,57,65,66,110,122,134,139,145,160,174,176,184,186,188,189,197,200], and are categorised as: 1) Scalability, which is the ability of the network to support an amount of users and any possible increase of its size, without degrading its performance. 2) Transactions' throughput, which defines how many transactions per second (TPS) can be processed during the consensus process, and 3) Latency or block confirma-tion time (BCT), which defines how much time is required for a transaction to be confirmed and included to the distributed ledger.…”

Section: Performance Requirementsmentioning

confidence: 99%

On the suitability of blockchain platforms for IoT applications: Architectures, security, privacy, and performance

et al. 2021

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Blockchain and distributed ledger technologies have received significant interest in various areas beyond the financial sector, with profound applications in the Internet of Things (IoT), providing the means for creating truly trustless and secure solutions for IoT applications. Taking into account the weak security defences that the majority of IoT devices have, it is critical that a blockchain-based solution targeting the IoT is not only capable of addressing the many challenges IoT is facing, but also does not introduce other defects, e.g. in terms of performance, making its adoption hard to achieve. This paper aims at addressing the above needs by providing a comprehensive and coherent review of the available blockchain solutions to determine their ability to meet the requirements and tackle the challenges of the IoT, using the smart home as the reference domain. Key architectural aspects of blockchain solutions, like the platforms' software and network setups, the consensus protocols used, as well as smart contracts, are examined in terms of their ability to withstand various types of common IoT and blockchain attacks, deliver enhanced privacy features, and assure adequate performance levels while processing large amounts of transactions being generated in an IoT environment. The analysis carried out identified that the defences currently provided by blockchain platforms are not su cient to thwart all the prominent attacks against blockchains, with blockchain 1.0 and 2.0 platforms being susceptible to the majority of them. On the other side, privacy related mechanisms are being supported, to varying degrees, by all platforms investigated; however, each of the them tackles specific only privacy aspects, thus rendering the overall privacy evaluation a challenging task which needs to be considered in an ad-hoc basis. If the underlying consensus protocols' performance and fault tolerance is also considered, then only a small number of platforms meet the requirements of our reference IoT domain. This project has received funding from the European Union's Horizon 2020 research and innovation programme under grant agreement no. 786698. The work reflects only the authors' view and the Agency is not responsible for any use that may be made of the information it contains.

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“…The sender provides this transfer certificate to the recipient as proof that the payment will proceed (). To conclude the transaction, the sender () or the recipient () must broadcast the transfer certificate (C) to the authorities (we call this a confirmation order) 2 .…”

Section: Transferring Funds Within Fastpaymentioning

confidence: 99%

“…HyperLedger Fabric [11] running with 10 nodes achieves about 1,000 transactions per second and a latency of about 10 seconds [34]; and Libra [13] and Corda [9,38] achieve similar performance. JP Morgan developed a digital coin built from the Ethereum codebase, which can achieve about 1,500 transactions per second with four nodes, and imposing a block time of 1 second [2]. Tendermint [10] reportedly achieves 10,000 transactions per second with 4 nodes, with a few seconds latency [28].…”

Section: Related Workmentioning

confidence: 99%

FastPay: High-Performance Byzantine Fault Tolerant Settlement

Baudet,

Danezis,

Sonnino

2020

Preprint

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FastPay allows a set of distributed authorities, some of which are Byzantine, to maintain a high-integrity and availability settlement system for pre-funded payments. It can be used to settle payments in a native unit of value (crypto-currency), or as a financial side-infrastructure to support retail payments in fiat currencies. FastPay is based on Byzantine Consistent Broadcast as its core primitive, foregoing the expenses of full atomic commit channels (consensus). The resulting system has lowlatency for both confirmation and payment finality. Remarkably, each authority can be sharded across many machines to allow unbounded horizontal scalability. Our experiments demonstrate intra-continental confirmation latency of less than 100ms, making FastPay applicable to point of sale payments. In laboratory environments, we achieve over 80,000 transactions per second with 20 authorities-surpassing the requirements of current retail card payment networks, while significantly increasing their robustness.

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Performance Evaluation of the Quorum Blockchain Platform

Cited by 36 publications

References 2 publications

Multi-Shard Private Transactions for Permissioned Blockchains

Multi-Shard Private Transactions for Permissioned Blockchains

On the suitability of blockchain platforms for IoT applications: Architectures, security, privacy, and performance

FastPay: High-Performance Byzantine Fault Tolerant Settlement

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