Executing large-scale processes in a blockchain

Abstract

Purpose The purpose of this paper is to examine the blockchain as a trusted computing platform. Understanding the strengths and limitations of this platform is essential to execute large-scale real-world applications in blockchains. Design/methodology/approach This paper proposes several modifications to conventional blockchain networks to improve the scale and scope of applications. Findings Simple modifications to cryptographic protocols for constructing blockchain ledgers, and digital signatures for authentication of transactions, are sufficient to realize a scalable blockchain platform. Originality/value The original contributions of this paper are concrete steps to overcome limitations of current blockchain networks.