Blockchain transaction processing: Challenges and resolutions

Abstract

This paper delves into the transformative shift from traditional databases to blockchain technology motivated by challenges such as tampering and central control inherent in databases. Traditional databases (e.g., relational databases) are structured in rows and columns while blockchain is structured as a chain of blocks secured through cryptographic primitives. Blockchain technology has paved the way for developing more practical solutions with its features, which include decentralization, security, and immutability etc. We introduce traditional databases and blockchain technology focusing on the shift towards the later. A emphasis is also placed on the pivotal role of consensus, a notable divergence that renders blockchain unique. Furthermore, we discuss key consensus algorithms, their challenges, and the opportunities they present. © 2024 selection and editorial matter, Anurag Tiwari and Manuj Darbari.