A blockchain system is envisioned to store, process, and trace the resources regardless of central authority approval. For this purpose, each activity of transaction is registered in the distributed ledger of the blockchain. So, this technology is secure, robust, and scalable to share the resources fairly among peer nodes. For the most part, it eases the bottleneck of many-to-one network traffic. This page mainly deals with the current Blockchain Research Topics for PhD with its creative research areas and open issues!!!
In addition, it overcomes the single point failure because of its decentralized structure. Though it is one of the security mechanisms, it has few shortcomings when it is applied in real-world scenarios. And they are the issues related to privacy, consensus protocol, scalability, security, interoperability, governance, and standards.
4 Layers of Blockchain Technology
- Application / Services Layer
- Side Chain
- Smart contract
- Cryptocurrency
- Digital Copy
- Blockchain Consensus Layer
- Proof of Stake (PoS)
- Delegated Proof of Stake (DPoS)
- Proof of Work (PoW)
- Data Layer
- Data Storage
- Merkle tree
- Block
- Network Layer
- Communication Mechanism
- Peer-to-Peer (P2P) Network
Our researchers have years of experience in working with blockchain technology. So, they have vast knowledge in all recent research areas. From our recent study on the blockchain, we have listed the following areas as an innovative domain to handpick the best Blockchain Research Topics for PhD.
What are the research areas of Blockchain Technology?
- Blockchain Technology for precision agriculture
- Social Blockchain Network
- Blockchain-based 5G / 6G Communication Networks
- Blockchain in Internet of Things (IoT) Security
- Blockchain solutions for Intelligent Transportation System
- Integration of Blockchain with Advance Smart Grids
- Blockchain Standards. Tools, Testbeds, and Platforms
- Artificial intelligence (AI) in Blockchain Technology
- Private blockchain Decentralized Storage Systems
- Wireless Cellular Blockchain Networks
- Blockchain-enabled Information-centric Network
- Computing (cloud, fog, edge) Services in Blockchain Network
For your add-on information, we have also listed a few research ideas for Blockchain technology projects. All these notions are collected from budding research areas to give you up-to-date research facts.
Top 10+ Blockchain Research Topics for PhD Scholars
- Impact of Blockchain in Social Networks
- Advanced Cryptographic Technologies in Blockchain
- Blockchain Smart Contracts Applications
- Data Consistency, Transparency and Privacy in Blockchain
- Emerging Blockchain Models for Digital Currencies
- Blockchain for Advance Information Governance Models
- Blockchain in Future Wireless Mobile Networks
- Blockchain Law and Regulation Issues
- Blockchain Transaction Processing and Modifying
- Collaboration of Bigdata with Blockchain Network
- Blockchain-based Public Registries Record Maintenance and Replacement
- Blockchain in Internet of Things Applications
- Network Security Issues in Blockchain Architectures
- Accountability, Data Integrity and Privacy Issues in Blockchain Solutions
- New Blockchain Taxonomies and Trust Models in Government and Public Services
Next, we can what is consensus algorithm in blockchain and why it is important. Attainment of the smart contract is the most challenging process ever in blockchain technologies. Though it is a challenging process, it is an important task performed by a consensus algorithm in the entire system. When the new block is created is over the network, it must be added to the chain once the peer nodes are admitted. Even if the small change is done in transaction/block, it needs to be updated with peers.
As a result, it stops the attackers to hack the block and do changes until the majority of peers are compromised. Also, the blockchain structure is intended to verify the reliability of the network to ensure security. On account of this security need, several consensus algorithms are developed and some of them are given as follows,
Blockchain Consensus Algorithms
- Proof of Activity
- Proof of Burn (PoB)
- Proof of Work (PoW)
- Proof of Weight (PoWeight)
- Proof of Importance
- Proof of Capacity
- Proof of Elapsed Time
- Proof of State (PoS)
- Delegated Proof of Stake (PoS)
- Practical Byzantine Fault Tolerance
- Delegated Practical Byzantine Fault Tolerance
- Directed Acyclic Graphs
How to evaluate the performance of blockchain?
Further, we can discuss how the blockchain system is assessed. Once, the blockchain application is developed then the overall efficiency of the system is needed to assess for weighting the performance. For that, it has several performance metrics to measure the system scalability, quality, and many more. This helps to create a new standard for new blockchain in comparison with other versions. Below, we have specified a few general parameters followed in run-time blockchain execution.
- Transactions Per Second:
- It measures the number of transactions/records that are submitted and stored every second where the submission and storage values are computed independently
- Also, it helps to know the capacity of the blockchain system for scalability
- The ratio of Full Node/Partial Node:
- It measures the ratio of active full and partial nodes in the network
- Through this measurement, it can avoid historical data loss due to zero active node
- For keeping enough ledger redundant copies, it is used to trace the data
- Active Nodes (Active Addresses):
- It measures the number of active nodes in the network for a certain duration (per day/week/month)
- The count of the active node should be open to all other nodes in the network
- If there are more nodes are currently active then it means many nodes are trusting that blockchain application
- Blocks Per Day and Blocks Per Hour
- It measures the time taken by the transaction to record, submit and store in blockchain
- In other words, it measures the execution time of the consensus algorithm
- To compute the number of processing blocks, it needs to be measured
- Based on the timestamp of the block, the number of blocks is determined for a particular period (per hour/day)
- Overall, this metric help to calculate the performance and scalability of the blockchain system
- Throughput of Transaction:
- It measures the time for validating and adding the blocks to the chain
- For that, it divides the total number of transactions (commit and validate) with the total time taken by the transaction (validate and store)
- Delay of Transaction:
- It measures the time taken between submission and registration (i.e., included/excluded in a ledger)
- Based on the transaction timestamp, it compares the time of submission and storage
- It also exposes the fastness of the consensus algorithm
Further, we have given you the three most essential factors that are required to compute the total account score. Also, these factors play a significant role in increasing the score value. Let’s have a look at the following factors,
- Transaction Number and Size: A transaction higher than the minimum size will increase the score. Also, the repeated transaction will create a positive impact
- A partnership of Transaction: Look for transactions made with other NEM accounts where more transactions will increase the score
- Vesting: Count the vested coins for a specific period where more numbers will increase the score
As you know well, consensus algorithm has high importance in the blockchain system. So, we have given the list of parameters/criteria used for evaluating the performance of the consensus mechanism/protocol.
Criteria for Consensus Algorithms Assessment
- Degree of Operative Decentralization
- Trust Model
- Permission Model
- Blockchain Governance
- Vulnerabilities and Securities
- 51% Attack
- Sybil Attack
- Double Spending Attack
- Throughput of Algorithm
- Block Size
- Block Creation or Latency
- Transactions per Second (TPS)
- Verification Time
- Mining Profitability
- Transaction Fees
- Power Utilization
- Special Hardware Dependency
- Mining Reward
So far, we have discussed the blockchain system research point of view. Now, from the development point of view, our developers have given a few platforms that are well-suited for effectively implementing blockchain applications.
Blockchain-Based Platforms
- Zcash
- Litecoin
- Ethereum
Further, they have also listed a few widely important programming languages which support blockchain projects development. More than this, we also give you information on other blockchain programming languages.
Top 5 Blockchain Programming Languages
- Python: Hyperledger Fabric, NEO, Ethereum and Steem
- C++: Litecoin, EOS, Bitcoin, Steller, QTUM, Ripple and Monero
- Java: NEM, NEO, IOTA, Ethereum, and Hyperledger Fabric
- Solidity – Ethereum-assisted smart contracts and other inherited models
- Go (Go language): Hyperledger Fabric, GoChain, Ethereum, and Dero
- C#: NEO, IOTA and Stratis
From the above, Python, Java, and C++ are highly used languages in developing the blockchain system. Then, Go and solidity languages are newly developed languages for blockchain projects where solidity support only ethereum projects.
Last but not least, for the demonstration purpose, we have given the sample which gives an idea of in what way the blockchain is developed using python language. In specific, it gives information on basic requirements, implementation phases, functions, and block structure.
How to construct a Blockchain System using Python?
Basic Necessities
- Fundamental skills in coding
- IDE / Text Editors – Sublime Text and PyCharm
- Flask –Micro Web Framework (in Python)
- Python – Programming Language (Multi-paradigm)
Steps for Developing Blockchain
- At first, create the blockchain
- Then, establish the communication with blockchain
- At last, integrate the API with blockchain
Key Methods for blockchain
- _init_(self) – To initialize the blockchain
- register_node() – To record a node to the network
- new_block(self) – To build and append a new block in the chain
- hash(block) – To implement hash function over a block
- new_transaction() – To create new transaction / record
- valid_chain() – To authenticate the chain
- poof_of_work() – To apply proof of work (PoW) consensus protocol
- valid_proof() – To authenticate block before adding to the chain
Block Structure
- Proof
- Previous Block Hash
- Timestamp in Unix Time
- Index
- Transaction List
Further, if you require more Blockchain Research Topics for PhD projects, then contact our team. We will complete support to fulfill your requirements on time through our friendly guidance.
