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A Preliminary Blockchain Assessment Framework
Last modified: 2019-10-23
Abstract
With almost 900 public Blockchains and an increasing amount of private Blockchains, selecting a Blockchain architecture seems a daunting task. The research proposal outlines a preliminary assessment framework based on distinguishing characteristics of blockchain implementations with an emphasis on examining scalability, cost, security, and consensus mechanisms. Scalability is determined based on the number of transactions per second that can occur on-chain as well as off-chain or side-chain, supporting infrastructure, and capabilities. Cost is measured by the amount of fiat (USD) to store 1 kilobyte of transactional data from notes, smart contracts, and dApps. The ability to prevent 51% attacks, algorithm quantum and non-quantum resilience, key management options, anonymity, trust, and decentralization assess security. Oversight mechanisms, decision making, and leadership structure are used to evaluate consensus. These assessment metrics are beneficial in comparing and evaluating the myriad of solutions for enterprise integration. Specifically, the research encourages the examination of existing architectural options so firms in financial, supply chain, and other industries can choose a solution that fits their requirements.
Keywords
Information Systems, BlockchainA Preliminary Blockchain Assessment Framework