Comparative Analysis of Blockchain and Distributed Ledger Technologies: Simulations and Evaluations of Chord, Linear, DAG, and BitTorrent-based Approaches

Abstract

This research dives into the world of distributed ledger technology (DLT), the foundation for blockchain. The study compares different DLT architectures like linear chains (typical blockchains), Chord, Directed Acyclic Graphs (DAGs), and BitTorrent-inspired protocols. By running simulations and real-world tests, the researchers aim to understand the strengths and weaknesses of each approach, focusing on how well they handle transaction volume (throughput), growth (scalability), and security. Their findings reveal trade-offs: linear chains, often used in permissioned blockchains, are highly secure and guarantee data integrity, but they can struggle to keep up with a surge in transactions. On the other hand, DAG-based and BitTorrent-inspired DLTs can handle a much higher volume and adapt to growth easily, but they might face challenges in agreeing on the validity of transactions (consensus) and ensuring top-notch security. This research helps us understand that the ideal DLT architecture depends on the specific needs of the application. If security is paramount, a linear chain might be preferable, but for high transaction volumes and scalability, DAGs or BitTorrent-inspired approaches could be a better fit.