Unveiling Decentralization: A Comprehensive Review of Technologies, Comparison, Challenges in Bitcoin, Ethereum, and Solana Blockchain

arXiv:2404.04841v1 Announce Type: new
Abstract: Bitcoin stands as a groundbreaking development in decentralized exchange throughout human history, enabling transactions without the need for intermediaries. By leveraging cryptographic proof mechanisms, Bitcoin eliminates the reliance on third-party financial institutions. Ethereum, ranking as the second-largest cryptocurrency by market capitalization, builds upon Bitcoin's groundwork by introducing smart contracts and decentralized applications. Ethereum strives to surpass the limitations of Bitcoin's scripting language, achieving full Turing-completeness for executing intricate computational tasks. Solana introduces a novel architecture …

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