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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

Style: Fashion

Length: Normal

Material: Polyester

Fit Type: Skinny

Waist Type: High

Closure Type: Elastic Waist

Pattern Type: Solid

Pant Style: Pencil Pants

Weight: 0.234 KG

Package Contents: 1 x Pants
Product Code
APPFRESH-STYLE-DAMA341324BBBD5FFA
Color
Blue
Size
4XL
Gender
Women
International Product
World Store