Performance evaluation, optimization and dynamic decision in blockchain systems: a recent overview

Quan-Lin Li; Yan-Xia Chang; Qing Wang

doi:10.55092/blockchain20230005

Article

Open Access

Performance evaluation, optimization and dynamic decision in blockchain systems: a recent overview

Quan-Lin Li¹Yan-Xia Chang¹^,∗Qing Wang²

¹ School of Economics and Management, Beijing University of Technology, Beijing, China

² Monash Business School, Monash University, Melbourne, Australia

* changyanxia@emails.bjut.edu.cn

Volume
Volume 1 Issue 1, 2023
Citation
Li Q, Chang Y, Wang Q. Performance evaluation, optimization and dynamic decision in blockchain systems: a recent overview. Blockchain 2023(1):0005, https://doi.org/10.55092/blockchain20230005.
DOI
10.55092/blockchain20230005
Copyright
Copyright2023 by the authors. Published by ELSP.

Abstract

With rapid development of blockchain technology as well as integration of various application areas, performance evaluation, performance optimization, and dynamic decision in blockchain systems are playing an increasingly important role in developing new blockchain technology. This paper provides a recent systematic overview of this class of research, and especially, developing mathematical modeling and basic theory of blockchain systems. Important examples include (a) performance evaluation: Markov processes, queuing theory, Markov reward processes, random walks, fluid and diffusion approximations, and martingale theory; (b) performance optimization:Linear programming, nonlinear programming, integer programming, and multi-objective programming; (c) optimal control and dynamic decision: Markov decision processes, and stochastic optimal control; and (d) artificial intelligence: Machine learning, deep reinforcement learning, and federated learning. So far, a little research has focused on these research lines. We believe that the basic theory with mathematical methods, algorithms and simulations of blockchain systems discussed in this paper will stronglysupport future development and continuous innovation of blockchain technology.

Keywords

Blockchain; performance evaluation; performance optimization; optimal control; dynamic decision

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