A performance evaluation framework for public blockchain based systems

Abstract

With the revolution of blockchain technology, smart contracts open a door for programs to be executed inside the blockchain. This allows programmers to build applications and deploy them in different blockchain systems. Over the years these smart contracts have been redefined offering transparency, immutability, and distributed consensus. However, if we were to evaluate how each of these applications performs and which parameters are used to identify the performance, it would be unclear given the scarcity of a proper blockchain evaluation system in today’s time. Our research aims to establish a comprehensive performance evaluation protocol specifically for public blockchains, referencing insights from seminal works. Our goal is to leverage important metrics that will be necessary to provide a standardized framework for evaluating and comparing the performance of blockchain based applications. We aim to help developers by providing a framework that lets them measure and compare their smart contracts on different blockchain systems. This solves the problems they face when deploying smart contracts and allows us to practically test important theories about different blockchain systems.