Blockchain Performance Benchmarking: a VCG Auction Smart Contract Use Case for Ethereum and Tezos (Short Paper)

Abstract

The second generation of blockchains introduces the notion of "smart contract" to decentralized ledgers, but with each new blockchain system comes di erent consensus mechanisms or di erent approaches on how to assess the cost of computation inside the chain, both aspects that a ect the e ciency of the systems as a decentralized computer. We present an experimental comparison of two blockchain systems, namely Ethereum and Tezos, from the perspective of smart contracts, centered around the same implementation of a VCG for Sponsored Search auction algorithm, respectively encoded in Solidity and SmartPy. Our analysis shows the feasibility of implementing an algorithm for sponsored search in such an environment while providing information on how useful these systems can be for this type of smart contracts.