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Research Paper | Computer Science | India | Volume 13 Issue 4, April 2024 | Popularity: 4.8 / 10

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Scalability and Performance Challenges in Block Chain Technology

Dr. Himanshu Patel

Abstract: Blockchain is a decentralized and unalterable ledger that simplifies the recording of transactions and tracking of assets within a business network. Assets include a wide range of items, comprising both physical possessions like houses, cars, cash, and land, and non-physical entities like intellectual property, patents, copyrights, and branding. The versatility of blockchain allows virtually anything of value to be tracked and traded on its network, thereby reducing risks and cutting costs for all participants involved [1]. While blockchain technology has gained significant attention and adoption in recent years, it still encounters challenges that necessitate resolution for widespread implementation. This paper aims to elucidate the intricacies of blockchain technology, highlighting its key features, types and applications. This paper reviews related work done by other researchers for performance and scalability challenges and give comparison among various blockchain platforms. It also discuss Performance and Scalability challenges of Blockchain technology, factors influencing performance of blockchain and gives comprehensive overview of notable scalability challenges in blockchain, along with an outline of relevant solutions.

Keywords: Block Chain, features of blockchain technology, Application of blockchain, Scalability, Performance

Edition: Volume 13 Issue 4, April 2024

Pages: 266 - 272

DOI: https://www.doi.org/10.21275/SR24403150522

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