Unveiling Decentralization: A Comprehensive Review of Technologies, Comparison, Challenges in Bitcoin, Ethereum, and Solana Blockchain

• URL: http://arxiv.org/abs/2404.04841v1
• Date: Sun, 7 Apr 2024 07:27:03 GMT
• Title: Unveiling Decentralization: A Comprehensive Review of Technologies, Comparison, Challenges in Bitcoin, Ethereum, and Solana Blockchain
• Authors: Han Song, Yihao Wei, Zhongche Qu, Weihan Wang,
• Abstract summary: Bitcoin stands as a groundbreaking development in decentralized exchange throughout human history, enabling transactions without the need for intermediaries. Solana introduces a novel architecture for high-performance blockchain, employing timestamps to validate decentralized transactions. This paper aims to offer valuable insights and comparative analysis for both researchers and practitioners.
• Score: 1.6070833439280312
• License: http://arxiv.org/licenses/nonexclusive-distrib/1.0/
• Abstract: Bitcoin stands as a groundbreaking development in decentralized exchange throughout human history, enabling transactions without the need for intermediaries. By leveraging cryptographic proof mechanisms, Bitcoin eliminates the reliance on third-party financial institutions. Ethereum, ranking as the second-largest cryptocurrency by market capitalization, builds upon Bitcoin's groundwork by introducing smart contracts and decentralized applications. Ethereum strives to surpass the limitations of Bitcoin's scripting language, achieving full Turing-completeness for executing intricate computational tasks. Solana introduces a novel architecture for high-performance blockchain, employing timestamps to validate decentralized transactions and significantly boosting block creation throughput. Through a comprehensive examination of these blockchain technologies, their distinctions, and the associated challenges, this paper aims to offer valuable insights and comparative analysis for both researchers and practitioners.

Related papers

• Mastering AI: Big Data, Deep Learning, and the Evolution of Large Language Models -- Blockchain and Applications [17.293955748551053]
  The article begins with an introduction to cryptography fundamentals. It covers topics such as proof-of-work, proof-of-stake, and smart contracts. The article concludes by addressing the current state of academic research on blockchain.
  arXiv  Detail & Related papers  (2024-10-14T02:56:36Z)
• IT Strategic alignment in the decentralized finance (DeFi): CBDC and digital currencies [49.1574468325115]
  Decentralized finance (DeFi) is a disruptive-based financial infrastructure. This paper seeks to answer two main questions 1) What are the common IT elements in the DeFi? And 2) How the elements to the IT strategic alignment in DeFi?
  arXiv  Detail & Related papers  (2024-05-17T10:19:20Z)
• Blockchains for Internet of Things: Fundamentals, Applications, and Challenges [38.29453164670072]
  Not every blockchain system is suitable for specific IoT applications. Public blockchains are not suitable for storing sensitive data. We explore the blockchain's application in three pivotal IoT areas: edge AI, communications, and healthcare.
  arXiv  Detail & Related papers  (2024-05-08T04:25:57Z)
• Self-Replicating and Self-Employed Smart Contract on Ethereum Blockchain [0.0]
  We developed self-replicating and self-employed agents who earn the energy by themselves to replicate them. When a certain amount of Ether is accumulated, the agent replicates itself and leaves offspring. The goal of this project is to implement artificial agents that lives for itself, not as a tool for humans.
  arXiv  Detail & Related papers  (2024-05-07T06:17:06Z)
• Enhancing Trust and Privacy in Distributed Networks: A Comprehensive Survey on Blockchain-based Federated Learning [51.13534069758711]
  Decentralized approaches like blockchain offer a compelling solution by implementing a consensus mechanism among multiple entities. Federated Learning (FL) enables participants to collaboratively train models while safeguarding data privacy. This paper investigates the synergy between blockchain's security features and FL's privacy-preserving model training capabilities.
  arXiv  Detail & Related papers  (2024-03-28T07:08:26Z)
• Interplay between Cryptocurrency Transactions and Online Financial Forums [41.94295877935867]
  This study focuses on the study of the interplay between these cryptocurrency forums and fluctuations in cryptocurrency values. It shows that the activity of Bitcointalk forum keeps a direct relationship with the trend in the values of BTC. The experiment highlights that forum data can explain specific events in the financial field.
  arXiv  Detail & Related papers  (2023-11-27T16:25:28Z)
• From Reality Keys to Oraclize. A Deep Dive into the History of Bitcoin Oracles [0.0]
  This paper aims to retrace and reconstruct the chain of events and contributions that gave birth to oracles on Bitcoin. By interviewing early developers and crawling early forums and repositories, this paper aims to reconstruct the chain of events and contributions that gave birth to oracles on Bitcoin.
  arXiv  Detail & Related papers  (2023-02-15T19:05:28Z)
• Predicting Digital Asset Prices using Natural Language Processing: a survey [2.806897141084325]
  The rise of Machine Learning, and Natural Language Processing, in particular, has shed light monitoring and predicting the price behaviors of cryptocurrencies. This paper aims to review and analyze the recent efforts in applying Machine Learning and Natural Language Processing methods to predict the prices and analyze the behaviors of digital assets such as Bitcoin.
  arXiv  Detail & Related papers  (2022-11-28T17:37:06Z)
• Blockchain Technology: Bitcoins, Cryptocurrency and Applications [0.0]
  Bitcoin is a peer-to-peer permissionless network that allows every user to connect to the network and send new transactions to verify and create new blocks. This paper explains the concept of bitcoin, its characteristics, the need for cryptography, and how Bitcoin works.
  arXiv  Detail & Related papers  (2021-07-16T15:27:04Z)
• Quantum-resistance in blockchain networks [46.63333997460008]
  This paper describes the work carried out by the Inter-American Development Bank, the IDB Lab, LACChain, Quantum Computing (CQC), and Tecnologico de Monterrey to identify and eliminate quantum threats in blockchain networks. The advent of quantum computing threatens internet protocols and blockchain networks because they utilize non-quantum resistant cryptographic algorithms.
  arXiv  Detail & Related papers  (2021-06-11T23:39:25Z)
• Quantum Multi-Solution Bernoulli Search with Applications to Bitcoin's Post-Quantum Security [67.06003361150228]
  A proof of work (PoW) is an important cryptographic construct enabling a party to convince others that they invested some effort in solving a computational task. In this work, we examine the hardness of finding such chain of PoWs against quantum strategies. We prove that the chain of PoWs problem reduces to a problem we call multi-solution Bernoulli search, for which we establish its quantum query complexity.
  arXiv  Detail & Related papers  (2020-12-30T18:03:56Z)

This list is automatically generated from the titles and abstracts of the papers in this site.

This site does not guarantee the quality of this site (including all information) and is not responsible for any consequences.