Journal of Information Processing Systems

Korea Information Processing Society (한국정보처리학회)
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TPS Analysis, Performance Indicator of Public Blockchain Scalability

  • Hyug-Jun Ko (School of Visual Information Processing, Korea University) ;
  • Seong-Soo Han (Division of Liberal Studies, Kangwon National University)
  • Received : 2023.12.12
  • Accepted : 2023.12.21
  • Published : 2024.02.29
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Abstract

In recent years, Bitcoin and Ethereum have witnessed a surge in trading activity, driven by venture capital investment and funding through initial coin offerings (ICOs) and initial exchange offerings (IEOs). This heightened interest has led to kickstarting a vibrant ecosystem for blockchain development. The total number of cryptocurrencies listed on CoinMarketCap.com has reached 2,274 highlights how dynamic and wide blockchain development landscape has grown. In blockchain development, new blockchain projects are being created by forking blockchains inspired by major cryptocurrencies such as Bitcoin and Ethereum. These projects aim to address the perceived shortcomings and improve existing technologies. Altcoins, representing these alternative cryptocurrencies, are an ongoing industry effort to improve performance and security with enhancement proposals such as Bitcoin Improvement Proposals (BIP), Ethereum Improvement Proposals (EIP), and EOSIO Enhancement Proposals (EEP). With competitive attempts to improve blockchain performance and security, an ongoing performance race between various blockchains has taken shape, each claiming its own performance advantages. In this paper, we describe the transactions contained in the blocks of each representative blockchain, and find the factors that affect the transactions per second (TPS) through transaction processing and block generation processes, and suggest their relationship with scalability.

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Acknowledgement

This study was supported by 2020 Research Grant from Kangwon National University.

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