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Modeling of Distributed Ledgers: Challenges and Future Perspectives

Research output: Chapter in Book/Report/Conference proceedingConference contributionScientificpeer-review

Details

Original languageEnglish
Title of host publicationIEEE 22nd Conference on Business Informatics (CBI)
PublisherIEEE
Pages162-171
Number of pages10
ISBN (Print)9781728199269
DOIs
Publication statusPublished - 22 Jun 2020
Publication typeA4 Article in a conference publication
EventIEEE Conference on Business Informatics (CBI) -
Duration: 22 Jun 202024 Jun 2020

Publication series

NameIEEE Conference on Business Informatics (CBI)
ISSN (Electronic)2378-1971

Conference

ConferenceIEEE Conference on Business Informatics (CBI)
Period22/06/2024/06/20

Abstract

Interest in applications based on distributed ledger technology (DLT) is on the rise, with corporations worldwide shifting from simply exploring DLT's potential to creating productive business cases. However, despite the existence of numerous DLT applications, developers are still lacking proper tools and instruments for evaluating system behavior (e.g., performance) of their applications on different distributed ledgers before deployment. Since the behavior of such applications is highly dependent on the characteristics of the distributed ledger they are built upon and changing the distributed ledger after deployment of an application is difficult, selecting the wrong ledger can have severe negative consequences. To address the issue, we conducted an extensive literature review to identify and synthesize published modeling and simulation approaches for distributed ledgers. Based on the results, this paper also presents a research agenda to improve modeling of the system behavior of distributed ledgers and to support the development of distributed ledgers and viable DLT applications. In doing so, we facilitate informed decision-making for suitable modeling or simulation approach, which helps application developers to identify a suitable distributed ledger before implementing an application. In addition, our work contributes to science, as we provide a comprehensive overview and analysis of extant simulation and modeling approaches in DLT that accumulates the current state-of-the-art in the rapidly growing DLT field.

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