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| Main Authors: | , , , |
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| Format: | Preprint |
| Published: |
2024
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| Subjects: | |
| Online Access: | https://arxiv.org/abs/2404.04841 |
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| _version_ | 1866909163095851008 |
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| author | Song, Han Wei, Yihao Qu, Zhongche Wang, Weihan |
| author_facet | Song, Han Wei, Yihao Qu, Zhongche Wang, Weihan |
| contents | Bitcoin stands as a groundbreaking development in decentralized exchange throughout human history, enabling transactions without the need for intermediaries. By leveraging cryptographic proof mechanisms, Bitcoin eliminates the reliance on third-party financial institutions. Ethereum, ranking as the second-largest cryptocurrency by market capitalization, builds upon Bitcoin's groundwork by introducing smart contracts and decentralized applications. Ethereum strives to surpass the limitations of Bitcoin's scripting language, achieving full Turing-completeness for executing intricate computational tasks. Solana introduces a novel architecture for high-performance blockchain, employing timestamps to validate decentralized transactions and significantly boosting block creation throughput. Through a comprehensive examination of these blockchain technologies, their distinctions, and the associated challenges, this paper aims to offer valuable insights and comparative analysis for both researchers and practitioners. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2404_04841 |
| institution | arXiv |
| publishDate | 2024 |
| record_format | arxiv |
| spellingShingle | Unveiling Decentralization: A Comprehensive Review of Technologies, Comparison, Challenges in Bitcoin, Ethereum, and Solana Blockchain Song, Han Wei, Yihao Qu, Zhongche Wang, Weihan Cryptography and Security Bitcoin stands as a groundbreaking development in decentralized exchange throughout human history, enabling transactions without the need for intermediaries. By leveraging cryptographic proof mechanisms, Bitcoin eliminates the reliance on third-party financial institutions. Ethereum, ranking as the second-largest cryptocurrency by market capitalization, builds upon Bitcoin's groundwork by introducing smart contracts and decentralized applications. Ethereum strives to surpass the limitations of Bitcoin's scripting language, achieving full Turing-completeness for executing intricate computational tasks. Solana introduces a novel architecture for high-performance blockchain, employing timestamps to validate decentralized transactions and significantly boosting block creation throughput. Through a comprehensive examination of these blockchain technologies, their distinctions, and the associated challenges, this paper aims to offer valuable insights and comparative analysis for both researchers and practitioners. |
| title | Unveiling Decentralization: A Comprehensive Review of Technologies, Comparison, Challenges in Bitcoin, Ethereum, and Solana Blockchain |
| topic | Cryptography and Security |
| url | https://arxiv.org/abs/2404.04841 |