Master Thesis von Florian Haffke

Technical Analysis of Established Blockchain Systems

Abstract

Since the invention of Bitcoin as a digital currency in 2008, the underlying blockchain technology has become a much-debated subject. The blockchain design promises to bear tamper-resistant data due to its continuously growing list of records, that is cryptographically connected. Blockchain database systems assert to be secure as a distributed ledger for financial transactions with many other suitable applications expected to arise.

This thesis covers an analysis of three blockchain protocols, Bitcoin, Ethereum and Ripple. We decompose their structure and investigate their elements individually and comparatively to give a better understanding about their functionality and issues. This includes predominantly the block setup, the consensus algorithms, the transaction systems and the networks. Furthermore, we compile our gathered intelligence into abstract schemes of the technical ecosystem.

Keywords

Asymmetrical Cryptography, Bitcoin, Blockchain System, Blockchain Design Space, Block Header, Digital Signature Scheme, Distributed Consensus, Distributed Ledger Technology, Ethereum, Hash Pointer, Hash Tree, Mining, Peer-to-Peer Network, Proof of Work, Ripple