Study and Analysis of Scalability, Interoperability and Transition Difficulty In Permissioned Blockchain

Abstract

Through the Bitcoin application, the innovative technology was miraculously launched in the markets, influencing numerous industries. Bitcoin is an innovative and path- breaking technology that has influenced numerous industries across the globe. Bitcoin is nothing but a form of digital currency (cryptocurrency) that can be used for trading in place of fiat money, where the underlying infrastructure is called Blockchain. The Blockchain is an open ledger that provides decentralization, transparency, immutabil- ity, and confidentiality. Blockchain can be used in massive, beneficial applications such as healthcare, logistics, supply chain management, the Internet of Things (IoT), etc. Most of the industrial applications rely on the permissioned Blockchain. However, the permissioned Blockchain fails in some aspects, such as scalability, interoperabil- ity and transission difficulty among consensus. This dissertation suggests a system to solve the scalability issue,interoperabilt issue and transission difficulty of permissioned Blockchain by incorporating data science techniques. The scalability analysis of the proposed solution is done in the hyperledger fabric framework with a variable number of transactions and results in scalability improvement.This work suggests a sustain- able system to solve the interoperability issue of permissioned blockchain by design- ing a new infrastructure and this work has been tested in ethereum and hyperledger frameworks and which obtained a success rate of 100 percentage. Finally the transi- tion among different consensus mechanism has been made possible by analysing the requiements of each algorithm and incoorperating it in MLP classifier.