Study on Blockchain Technologies for Modern Enterprise Applications

Abstract

We are living on a time where emerging technologies are disrupting the way we work in multiple industries. One of these technologies is distributed ledgers called Blockchains. Within the enterprise, we are analyzing and expanding the Blockchain technology implemented in a private and secure environment where only our trusted users will be able to participate and want to answer a basic question. Given the less amount of infrastructure possible, which of the available Ethereum algorithms is more efficient for a Private network? In this study, we implement two instances of the Ethereum Blockchain with different consensus algorithms in order to explore which one will be the most efficient and cost-effective in an enterprise environment. Key Terms ⎯ Bitcoin, Blockchain, Consensus Algorithms, Smart Contracts