Drawing the boundaries between Blockchain and Blockchain-like systems: A Comprehensive Survey on Distributed Ledger Technologies

TL;DR

This survey clarifies the distinctions between blockchain and blockchain-like systems by proposing a layered reference model and taxonomy, analyzing 44 DLT solutions and 26 consensus mechanisms to identify challenges and future research directions.

Contribution

It introduces a comprehensive reference model and taxonomy to differentiate blockchain from similar systems, supported by analysis of numerous solutions and consensus mechanisms.

Findings

Key challenges identified in DLT solutions

New taxonomy improves classification accuracy

Research directions proposed for future development

Abstract

Bitcoin's global success has led to the rise of blockchain, but many systems labeled as "blockchain" deviate from its core principles, adding complexity to the ecosystem. This survey addresses the need for a comprehensive review and taxonomy to clarify the differences between blockchain and blockchain-like systems. We propose a reference model with four key layers: data, consensus, execution, and application, and introduce a new taxonomy for better classification. Through a qualitative and quantitative analysis of 44 DLT solutions and 26 consensus mechanisms, we highlight key challenges and offer research directions in the field.