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Telematics and Informatics Reports
Article . 2024 . Peer-reviewed
License: CC BY
Data sources: Crossref
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https://doi.org/10.2139/ssrn.4...
Article . 2023 . Peer-reviewed
Data sources: Crossref
ResearchGate Data
Preprint . 2023
Data sources: Datacite
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To Blockchain or Not to Blockchain, These are the Questions: A Structured Analysis of Blockchain Decision Schemes

Authors: J.D. Preece; J.M. Easton;

To Blockchain or Not to Blockchain, These are the Questions: A Structured Analysis of Blockchain Decision Schemes

Abstract

Blockchain technology has garnered significant attention in recent years, prompting researchers, entrepreneurs, and businesses to seek viable ways to validate the application of blockchain within their specific use cases. Blockchain decision schemes (BDSs) can assist in this decision-making process, offering a potentially more cost-effective alternative to domain experts. Flow chart blockchain decision schemes (FC-BDSs) constitute 77.5% of all BDSs, and this paper systematically reviews these by standardising and aggregating the most prominent schemes into an open-source package. Central to our approach is the definition of an FC-BDS as a directed acyclic graph (DAG). Upon this mathematical foundation, we engage in a meticulous exploration and analysis of various elements within FC-BDSs. We present an in-depth analysis of the structure of FC-BDSs, exploring features such as vertex count, question categorisation, and outcome distribution. Notably, the majority of FC-BDS questions ask about data and participation (34.1%) above other domains such as security (18.6%) and performance (10.8%). Observations regarding outcomes shows an overall balance in suggesting the usage or avoidance of blockchains; however, there is a discrepancy between the average questions required to reach these outcomes, revealing potential biases within schemes. Further analysis using similarity metrics (based on both structural and semantic features) identifies significant overlaps between FC-BDSs, with some schemes showing over 90% similarity. These observations could be attributed to a more informal publishing routine for FC-BDSs, and help trace the evolution of FC-BDSs over time. The insights drawn from this research provide valuable insights into the broader BDSs landscape, and stand to make significant strides towards the standardisation of FC-BDSs, thereby promoting a more coherent and effective utilisation of these decision-making tools in the realm of blockchain technology application.

Related Organizations
Keywords

Flow chart, Information technology, TK5101-6720, T58.5-58.64, Blockchain, Artificial Intelligence, Blockchain applications, Telecommunication, Blockchain decision scheme, Standardisation

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
2
Average
Average
Average
gold