BLOCKCHAIN: ANALYSIS, COMPARISON AND CRITIQUES

Abstract

Nowadays, we are witnessing a rapid development in newer technologies that might change our lives in future. Robotics, Artificial Intelligence, Internet of Things and Blockchain are part of the fourth industrial revolution. While it might be easier to imagine how AI, robotics and IoT are changing our future, blockchain is surrounded with hype and doubts. Billions of dollars flooding into blockchain projects, large cooperate are working on enterprise solutions, and countries considering blockchain digital currencies motivated by political reasons. On the other side, enthusiasts driven by the idea to change the financial system, anti-capitalist, criminals, and hackers found alternative in the blockchain. This thesis aims toward understanding blockchain technically and to highlight the main differences between the main three blockchain solutions available today. Understanding the concepts of the blockchain and trying to answer questions regarding the future of blockchain and how the technology can be utilized to solve problems other technologies have failed.

This master thesis explores this exciting technology of blockchain and analysis its strengths, challenges, opportunities, and future. Starting from Bitcoin, then going through Ethereum and finally toward Hyperledger enterprise solutions. The study presents technical details, programming concepts, usages, limitations and critiques. Blockchain is a new technology and in few years, researches and experimental projects will reveal where the technology would stand. It might disturb fundamentally many Industries or just return back to where it originated from, the Bitcoin.