Enhancing Blockchain Scalability using Off-Chain and Machine Learning Techniques

Abstract

Blockchain technology is a nascent technology that possesses attributes such as immutability, security, transparency, openness, and decentralization. It is widely used in industry and business applications. Though it has the best features, it still suffers from some main characteristics, such as scalability and privacy. Scalability is measured through throughput (transactions per second), space, cost, and latency. Bitcoin and Ethereum, which are prominent blockchain platforms, carry out 7 and 20 transactions per second, respectively. This is much less than popular platforms such as VISA, PayPal, and Amazon, which perform thousands of transactions per second. Therefore, this article presents comprehensive study of scalability improving techniques for blockchain and case studies for improving scalability by using some of the techniques. The scalability of blockchain systems can be enhanced by on-chain, off-chain, and machine learning algorithms. The proposed methodology improves the scalability using off-chain technique for supply chain management and KNN classification for the healthcare domain.