A System View of Financial Blockchains

Abstract

Blockchain (BC) has received significant attention recently. This paper presents system-related issues for BCs for financial applications. This paper first presents the design of a BC without consideration of any application scenarios, and issues such as performance, security, performance and scalability lead to specific BC designs. Sample BC scenarios are analyzed and these lead to additional BC designs. Specifically, two new kinds of BC emerge: for storing information at transactional level, for storing account information. By splitting traditional BCs into these two BCs allow one to optimize the system with respect to scalability and privacy.