Distributed Ledger Technology Preliminary Performance Assessment for Applications in Utilities Operational Technology

Abstract

This paper provides descriptions of the key components of different distributed ledger technology platforms. Distributed ledger technology (DLT) allows for distribution of databases among different organizations and devices. The platforms use cryptographically linked “blocks” to store and verify transactional information between these organizations. DLT increases data security, data integrity, trust among its participants. Different organizations are looking to deploy this distributed and decentralized approach to avoid the single-point-of-failure vulnerabilities associated with centralized data repositories. In this study we examine twelve different DLT platforms. There is agreement within the community that of all the platforms considered here, Hyperledger and Ethereum are the most mature when it comes to privacy and permissions. These DLT platforms are being used for applications such as transactive energy, health care, and the food and goods supply chain. However, further development is required to realize the full promise of DLT. Our assessment includes a general description of each DLT and its key characteristics. Such characteristics include consensus protocol and cryptography used, public vs. private, and permissioned or permissionless. The selection and implementation of a DLT architecture depends heavily on the use case and performance requirements. During this research we found key parameters to measure performance and existing tools for assessment. Four different parameters were identified 1) consensus, 2) throughput, 3) latency, and 4) scalability. The architectures of Hyperledger Caliper and Blockbench are described as different performance assessment frameworks. From this preliminary study it is evident that there are dissimilarities on the performance assessments methods developers and users are characterizing DLT architectures. The purpose of this paper is to identify key parameters to test performance, tools that are being used and provide information on results from previous studies.