Blockchain and Cryptocurrency: A comparative framework of the main Architectural Drivers

Abstract

Blockchain is a decentralized transaction and data management solution, the technological weapon-of-choice behind the success of Bitcoin and other cryptocurrencies. As the number and variety of existing blockchain implementations continues to increase, adopters should focus on selecting the best one to support their decentralized applications (dApps), rather than developing new ones from scratch. In this paper we present a framework to aid software architects, developers, tool selectors and decision makers to adopt the right blockchain technology for their problem at hand. The framework exposes the correlation between technological decisions and architectural features, capturing the knowledge from existing industrial products, technical forums/blogs, experts' feedback and academic literature; plus our own experience using and developing blockchain-based applications. We validate our framework by applying it to dissect the most outstanding blockchain platforms, i.e., the ones behind the top 10 cryptocurrencies apart from Bitcoin. Then, we show how we applied it to a real-world case study in the insurtech domain.