Blockchain Scalability Analysis on Throughput and Long Transaction Time

Abstract

Decentralized cryptocurrencies that operate on blockchains have received a lot of interest and have seen significant adoption in recent years. The initial blockchain application, Bitcoin, is a huge success and encourages further advancement in this area. However, Bitcoin experiences issues with limited throughput and long transaction times. It also affects other proof-of-work-related cryptocurrencies and raises fresh questions about the scaling of blockchain. The Scalability Issue in Blockchain is two-fold. Off-chain and On-chain On-chain like Block size increase, SegWit, Sharding, Proof-of-Work (PoW), Proof-of-Stake (PoS), or otherwise Off-Chain Lighting networks