Analysis of on-Chain and off-Chain Scalability Solutions in Blockchain Technology
G. Abinaya1, S. Mary Shalin Benigna2, Hakshatha Devi3, Venugopal Balaji4, Ashwin Chakravarthy.K5
1G. Abinaya, Assistant Professor, Department of Computer Science and Engineering, SRM Institute of Science and Technology, Chennai (Tamil Nadu), India.
2S. Mary Shalin Benigna, B. Tech, Department of Computer Science and Engineering, SRM Institute of Science and Technology, Chennai (Tamil Nadu), India.
3Hakshatha Devi, B. Tech, Department of Computer Science and Engineering, SRM Institute of Science and Technology, Chennai (Tamil Nadu), India.
4Venugopal Balaji, B. Tech, Department of Computer Science and Engineering, SRM Institute of Science and Technology, Chennai (Tamil Nadu), India.
5Ashwin Chakravarthy.K, B. Tech, Department of Computer Science and Engineering, SRM Institute of Science and Technology, Chennai (Tamil Nadu), India.
Manuscript received on 18 April 2019 | Revised Manuscript received on 25 April 2019 | Manuscript published on 30 April 2019 | PP: 445-449 | Volume-8 Issue-4, April 2019 | Retrieval Number: D6389048419/19©BEIESP
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: Blockchain Technology is becoming extremely popular among various industries due to its many applications such as payment services, smart contracts, digital identity, supply chain management and others. To cope up with the increasing demand, Blockchains must be able to scale and process transactions at a much faster rate than its current capabilities. Since most of the Blockchains mainly focus on security and decentralization, scalability is often sacrificed. As a result, Blockchains have incredibly slow processing speed. Over the years, many scalability solutions have been proposed. In this paper, we discuss about the scalability issues which are currently present in Blockchain and further analyse various on-chain and off-chain scalability solutions of Blockchain Technology.
Keywords: Delegated Proof of Stake, Hard Fork, Payment Channel, Sharding.
Scope of the Article: Computer Science and Its Applications