The Cost of Executing Business Processes on Next-Generation Blockchains: The Case of Algorand

• URL: http://arxiv.org/abs/2407.06725v1
• Date: Tue, 9 Jul 2024 09:58:11 GMT
• Title: The Cost of Executing Business Processes on Next-Generation Blockchains: The Case of Algorand
• Authors: Fabian Stiehle, Ingo Weber,
• Abstract summary: We study a system, Algorand, from a process execution perspective. Algorand promises low transaction fees and fast finality. We compare the cost of executing processes on Algorand to previous work as well as traditional cloud computing.
• Score: 0.09208007322096533
• License: http://arxiv.org/licenses/nonexclusive-distrib/1.0/
• Abstract: Process (or workflow) execution on blockchain suffers from limited scalability; specifically, costs in the form of transactions fees are a major limitation for employing traditional public blockchain platforms in practice. Research, so far, has mainly focused on exploring first (Bitcoin) and second-generation (e.g., Ethereum) blockchains for business process enactment. However, since then, novel blockchain systems have been introduced - aimed at tackling many of the problems of previous-generation blockchains. We study such a system, Algorand, from a process execution perspective. Algorand promises low transaction fees and fast finality. However, Algorand's cost structure differs greatly from previous generation blockchains, rendering earlier cost models for blockchain-based process execution non-applicable. We discuss and contrast Algorand's novel cost structure with Ethereum's well-known cost model. To study the impact for process execution, we present a compiler for BPMN Choreographies, with an intermediary layer, which can support multi-platform output, and provide a translation to TEAL contracts, the smart contract language of Algorand. We compare the cost of executing processes on Algorand to previous work as well as traditional cloud computing. In short: they allow vast cost benefits. However, we note a multitude of future research challenges that remain in investigating and comparing such results.

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