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arXiv · 2404.04841

Unveiling Decentralization: A Comprehensive Review of Technologies, Comparison, Challenges in Bitcoin, Ethereum, and Solana Blockchain

Han Song·Yihao Wei·Zhongche Qu·Weihan Wang
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Abstract

Bitcoin stands as a groundbreaking development in decentralized exchange throughout human history, enabling transactions without the need for intermediaries. By leveraging cryptographic proof mechanisms, Bitcoin eliminates the reliance on third-party financial institutions. Ethereum, ranking as the second-largest cryptocurrency by market capitalization, builds upon Bitcoin's groundwork by introducing smart contracts and decentralized applications. Ethereum strives to surpass the limitations of Bitcoin's scripting language, achieving full Turing-completeness for executing intricate computational tasks. Solana introduces a novel architecture for high-performance blockchain, employing timestamps to validate decentralized transactions and significantly boosting block creation throughput. Through a comprehensive examination of these blockchain technologies, their distinctions, and the associated challenges, this paper aims to offer valuable insights and comparative analysis for both researchers and practitioners.

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Han Song, Yihao Wei, Zhongche Qu, Weihan Wang. 2024-04-07. Unveiling Decentralization: A Comprehensive Review of Technologies, Comparison, Challenges in Bitcoin, Ethereum, and Solana Blockchain. https://arxiv.org/abs/2404.04841

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