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Abstract: Blockchain has recently gained momentum. Startups, enterprises, banks, and government agencies around the world are exploring the use of blockchain for broad applications including public registries, supply chains, health records, and voting. Dependability properties, like availability, are critical for many of these applications, but the guarantees offered by the blockchain technology remain unclear, especially from an application perspective. In this paper, we identify the availability limitat... View more
Abstract:
Blockchain has recently gained momentum. Startups, enterprises, banks, and government agencies around the world are exploring the use of blockchain for broad applications including public registries, supply chains, health records, and voting. Dependability properties, like availability, are critical for many of these applications, but the guarantees offered by the blockchain technology remain unclear, especially from an application perspective. In this paper, we identify the availability limitations of two mainstream blockchains, Ethereum and Bitcoin. We demonstrate that while read availability of blockchains is typically high, write availability - for transaction management - is actually low. For Ethereum, we collected 6 million transactions over a period of 97 days. First, we measured the time for transactions to commit as required by the applications. Second, we observed that some transactions never commit, due to the inherent blockchain design. Third and perhaps even more dramatically, we identify the consequences of the lack of built-in options for explicit abort or retry that can maintain the application in an uncertain state, where transactions remain pending (neither aborted nor committed) for an unknown duration. Finally we propose techniques to mitigate the availability limitations of existing blockchains, and experimentally test the efficacy of these techniques.
Date of Conference: 26-29 Sept. 2017
Date Added to IEEE Xplore: 19 October 2017
ISBN Information:
INSPEC Accession Number: 17281464
Publisher: IEEE
Conference Location: Hong Kong, China
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Contents
Contents

I. Introduction

Blockchains are a new kind of replicated database (a ‘dis-tributed ledger’) which can be operated without the control of any single party. Blockchain technology emerged to support the Bitcoin cryptocurrency [1]. A second generation of blockchains are more general-purpose: transactions can record data about any kind of application domain, and can deploy and execute user-defined scripts (‘smart contracts'). This greatly expands the potential uses for blockchain technology. Many startups, enterprises, banks, and governments are exploring its applications in areas as diverse as electronic health records, voting, energy supply, and protecting critical civil infrastructure [2]. These applications typically involve cross-organizational business processes [3], taking advantage of the neutral ground provided by a blockchain. Many of these applications have critical dependability requirements, even beyond those driven by the size of trade in the underlying cryptocurrencies (millions of US dollars per day

https://coinmarketcap.comlexchanges/volume/24-hour/

).

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Description

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Brand
NJ's
Product Code
APPNJS-BLACK-MINIYO2034342A70FFAB
Color
Black
Size
32
Material
Blended
Rise
Mid Rise
Pattern
Solid
Fit
Slim
Type
Jeans
Gender
Women
Set Contents
1
Wash Care
Machine Wash
Style Code
NIY-B2004(NJs)