Performance modeling of public permissionless blockchains: A survey

TL;DR

This survey reviews existing research on performance modeling of public permissionless blockchains, highlighting key parameters, modeling approaches, and challenges to improve transaction efficiency and system scalability.

Contribution

It provides a comprehensive overview of performance modeling techniques and insights specific to public permissionless blockchains, guiding future research and development.

Findings

Performance modeling often uses bulk service queue frameworks.

Workload and traffic characterization are critical for accurate modeling.

Insights offered for designing more efficient blockchain systems.

Abstract

Public permissionless blockchains facilitate peer-to-peer digital transactions, yet face performance challenges specifically minimizing transaction confirmation time to decrease energy and time consumption per transaction. Performance evaluation and prediction are crucial in achieving this objective, with performance modeling as a key solution despite the complexities involved in assessing these blockchains. This survey examines prior research concerning the performance modeling blockchain systems, specifically focusing on public permissionless blockchains. Initially, it provides foundational knowledge about these blockchains and the crucial performance parameters for their assessment. Additionally, the study delves into research on the performance modeling of public permissionless blockchains, predominantly considering these systems as bulk service queues. It also examines prior studies on workload and traffic modeling, characterization, and analysis within these blockchain networks. By analyzing existing research, our survey aims to provide insights and recommendations for researchers keen on enhancing the performance of public permissionless blockchains or devising novel mechanisms in this domain.