Scalability improvement and analysis of permissioned-blockchain

Abstract

Through the Bitcoin application, the innovative technology was miraculously launched in the markets, influencing numerous industries. Bitcoin is nothing but a form of digital currency (cryptocurrency) that can be used for trading in place of fiat money, where the underlying infrastructure is called Blockchain. The Blockchain is an open ledger that provides decentralization, transparency, immutability, and confidentiality. Blockchain can be used in massive, beneficial applications such as healthcare, logistics, supply chain management, the Internet of Things (IoT), etc. Most of the industrial applications rely on the permissioned Blockchain. However, the permissioned Blockchain fails in some aspects, such as scalability and throughput. This paper suggests a system to solve the scalability issue of permissioned Blockchain by incorporating data science techniques. The scalability analysis of the proposed solution is done in the hyperledger fabric framework with a variable number of transactions and results in scalability improvement.

Keywords

• Blockchain
• Scalability
• Permissioned blockchain
• Hyperledger fabric
• Data science