While the concept of blockchain is simple and elegant, there are many technical and research challenges. We saw the challenges in the following 4 axes.
- Security: to build up a solid public blockchain platform, we need to deal with tons of existing security attack, such as DDoS, as well as newly invented attacks tamed for blockchain.
- Horizontal scale: As the traditional enterprise systems, making thousands or even tens of thousands of nodes work together is a non-trivial challenge to resolve.
- Performance: High TPS is not only decided by the consensus design but it also heavily depends on the implementation. Performance of the blockchain, tx pool read/write, and encryption will all affect the transaction throughput.
Research: blockchain technology is still at a very early stage. There’re still quite a few problems that haven’t been well understood yet