Scalability Challenges and Opportunities in Blockchain-based Systems: A Systematic Review
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Abstract
The blockchain technology is quickly becoming the most disruptive technology of recent times. This technology has generated a lot of buzz and optimism, and it has gained a lot of attention from both the public and private sectors. Information can be transferred using blockchain technology in a manner that is confidential, safe, reliable, and open to scrutiny. This analysis focuses on the ways in which blockchain technology can be used to solve problems related to scalability and give solutions in the context of the healthcare industry. In light of this, the proposed solutions can be categorized into two primary categories: storage optimization and blockchain redesign. However, there are still several restrictions, such as the block size, the enormous volume of data and transactions, the number of nodes, and the obstacles posed by the protocol. It has seen widespread application in decentralized crypto currencies like Bitcoin and Ethereum, for example. An example of a public blockchain application that was successful, Bitcoin, was the impetus for a significant increase in research and development into blockchain technology. Nevertheless, scalability continues to be a significant obstacle. According to the facts that we've compiled, the primary causes of scalability issues appear to be bottlenecks in the transaction throughput, the network latency, and the consensus methods. On the other side, the potential for scalability includes the application of techniques like as sharding, hybrid systems, and off-chain computations. We also examine the consequences of these findings as well as prospective paths for future study to help solve the scalability problems that blockchain-based systems provide.
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