TY - GEN
T1 - A Comparative Analysis of DAG-Based Blockchain Architectures
AU - Pervez, Huma
AU - Muneeb, Muhammad
AU - Irfan, Muhammad Usama
AU - Ul Haq, Irfan
N1 - Publisher Copyright:
© 2018 IEEE.
PY - 2019/1/31
Y1 - 2019/1/31
N2 - Blockchain is a shared distributed ledger that promises tamper-proof secure transactions over the highly available and resilient network involving multiple participants. Directed Acyclic Graph (DAG) has revolutionized the blockchain technology. Owing to its optimized validation mechanism, high scalability, efficient provenance, support for IoT and multiparty involvement, DAG is rapidly over-shadowing traditional blockchain architecture. In this paper, we present a comparative analysis of most popular DAG based blockchain architectures including Nxt, IOTA, Orumesh, DagCoin,Byteball, Nano and XDAG. The comparison is based on the functional data structures for maintaining the ledger, consensus algorithms, transaction validation, ledger size, scalability and popularity. Extracting the best features various DAG based blockchains, we move on to outline the best of all worlds DAG-based blockchain architecture.
AB - Blockchain is a shared distributed ledger that promises tamper-proof secure transactions over the highly available and resilient network involving multiple participants. Directed Acyclic Graph (DAG) has revolutionized the blockchain technology. Owing to its optimized validation mechanism, high scalability, efficient provenance, support for IoT and multiparty involvement, DAG is rapidly over-shadowing traditional blockchain architecture. In this paper, we present a comparative analysis of most popular DAG based blockchain architectures including Nxt, IOTA, Orumesh, DagCoin,Byteball, Nano and XDAG. The comparison is based on the functional data structures for maintaining the ledger, consensus algorithms, transaction validation, ledger size, scalability and popularity. Extracting the best features various DAG based blockchains, we move on to outline the best of all worlds DAG-based blockchain architecture.
UR - http://www.scopus.com/inward/record.url?scp=85062848501&partnerID=8YFLogxK
U2 - 10.1109/ICOSST.2018.8632193
DO - 10.1109/ICOSST.2018.8632193
M3 - Conference contribution
AN - SCOPUS:85062848501
T3 - ICOSST 2018 - 2018 International Conference on Open Source Systems and Technologies, Proceedings
SP - 27
EP - 34
BT - ICOSST 2018 - 2018 International Conference on Open Source Systems and Technologies, Proceedings
PB - Institute of Electrical and Electronics Engineers Inc.
T2 - 12th International Conference on Open Source Systems and Technologies, ICOSST 2018
Y2 - 19 December 2018 through 21 December 2018
ER -