Authors: Han Song, Yihao Wei, Zhongche Qu, Weihan Wang

Published on: April 07, 2024

Impact Score: 8.0

Arxiv code: Arxiv:2404.04841

Summary

• What is new: Provides a comparative analysis of Bitcoin, Ethereum, and Solana focusing on their unique technologies and capabilities.
• Why this is important: The need to address the limitations of Bitcoin’s scripting language and improve transaction throughput in blockchain technologies.
• What the research proposes: By analyzing Ethereum’s introduction of smart contracts and Solana’s novel use of timestamps for validating transactions.
• Results: Insightful comparison that highlights the advancements in blockchain technologies and their impact on improving decentralized exchanges.

Technical Details

Technological frameworks used: Cryptographic proof mechanisms, smart contracts, and timestamps-based transaction validation.

Models used: Bitcoin, Ethereum, Solana

Data used: Market capitalization, transaction throughput data, and performance metrics of Bitcoin, Ethereum, and Solana.

Potential Impact

Financial institutions, fintech startups, blockchain-based service providers, and decentralized application developers.

Want to implement this idea in a business?

We have generated a startup concept here: BlockInsight.