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See detailSmart Retail Banking: Potentiale und Herausforderungen Künstlicher Intelligenz
Fridgen, Gilbert UL; Körner, Marc-Fabian; Rägo, Vadim et al

Report (2021)

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See detailToken Economy
Sunyaev, Ali; Kannengießer, Niclas; Beck, Roman et al

in Business and Information Systems Engineering (2021)

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See detailO'Dair, Marcus: Distributed Creativity
Smethurst, Reilly UL; Fridgen, Gilbert UL

in Zeitschrift für Urheber- und Medienrecht (2021), (11),

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See detailReconciling Blockchain with the GDPR: Insights from the German Asylum Procedure
Rieger, Alexander UL; Stohr, Alexander; Wenninger, Annette et al

in Blockchain and the Public Sector: Theories, Reforms, and Case Studies (2021)

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See detailElectricity Spot Market Design 2030-2050
Novirdoust, Amir Ashour; Bichler, Martin; Bojung, Caroline UL et al

Report (2021)

Driven by the climate conference in Paris in December 2015 countries worldwide are confronted with the question of how to shape their power system and how to establish alternative technologies to reduce ... [more ▼]

Driven by the climate conference in Paris in December 2015 countries worldwide are confronted with the question of how to shape their power system and how to establish alternative technologies to reduce harmful CO2 emissions. The German government plans that even before the year 2050, all electricity generated and consumed in Germany should be greenhouse gas neutral [1]. To successfully integrate renewable energies, a future energy system must be able to handle the intermittent nature of renewable energy sources such as wind and solar. One important means to address such electricity production variability is demand-side flexibility. Here, industry plays a major role in responding to variable electricity supply with adequate flexibility. This is where the Kopernikus project SynErgie comes in with more than 80 project partners from academia, industry, governmental, and non-governmental organizations as well as energy suppliers and network operators. The Kopernikus project SynErgie investigates how to best leverage demand-side flexibility in the German industry. The current electricity market design in Germany is not well suited to deal with increasing levels of re- newable energy, and it does not embrace demand-side flexibility. Almost 6 GW of curtailed power in 2019 provide evidence that changes are needed with respect to the rules governing electricity markets. These rules were designed at a time when electricity generation was concentrated on a few large and dispatchable conventional power plants and demand was considered inelastic. The SynErgie Cluster IV investigates how a future-proof electricity market design should be organized. The corresponding Work Package IV.3.1 more specifically deals with analyzing and designing allocation and pricing rules on electricity spot markets. The resulting design must be well suited to accommodate demand-side flexibility and address the intermittent nature of important renewable energy sources. This whitepaper is the result of a fruitful collaboration among the partners involved in SynErgie Cluster IV which include Germany’s leading research organizations and practitioners in the field. The collaboration led to an expert workshop in October 2020 with participation from a number of international energy market experts such as Mette Bjørndal (NHH), Endre Bjørndal (NHH), Peter Cramton (University of Maryland and University of Cologne), and Raphael Heffron (University of Dundee). The whitepaper details the key recommendations from this workshop. In particular, the whitepaper recommends a move to a locational, marginal price-based system together with new bidding formats allowing to better express flexibility. We argue in favor of a one-step introduction of locational, marginal prices instead of repeatedly splitting existing zones. Frequent zone splitting involves recurring political debates as well as short- and long-run instabilities affecting the basis for financial con- tracts, for example. Importantly, the definition of stable prize zones is very challenging with increasing levels of distributed and renewable energy sources. The recommendation is the outcome of an intense debate about advantages and downsides of different policy alternatives. However, such a transition to locational, marginal prices is not without challenges, and it is a call to arms for the research community, policymak- ers, and practitioners to develop concepts on how to best facilitate the transition and ensure a reliable and efficient electricity market of the future. We’d like to thank all the project partners and are grateful for the financial support from the Federal Ministry of Education and Research as well as the Project Management Jülich. Hans Ulrich Buhl (Cluster Lead) Martin Bichler (Work Package Lead) [less ▲]

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See detailTarzan and chain: exploring the ICO jungle and evaluating design archetypes
Bachmann, Nina M.; Drasch, Benedict; Fridgen, Gilbert UL et al

in Electronic Markets (2021)

The phenomenon of a blockchain use case called initial coin offering (ICO) is drawing increasing attention as a novel funding mechanism. ICO is a crowdfunding type that utilizes blockchain tokens to allow ... [more ▼]

The phenomenon of a blockchain use case called initial coin offering (ICO) is drawing increasing attention as a novel funding mechanism. ICO is a crowdfunding type that utilizes blockchain tokens to allow for truly peer-to-peer investments. Although more than \$7bn has been raised globally via ICOs as at 2018, the concept and its implications are not yet entirely understood. The research lags behind in providing in-depth analyses of ICO designs and their long-term success. We address this research gap by developing an ICO taxonomy, applying a cluster analysis to identify prevailing ICO archetypes, and providing an outlook on the token value market performance for individual archetypes. We identify five ICO design archetypes and display their secondary market development from both a short-term and a long-term perspective. We contribute to an in-depth understanding of ICOs and their implications. Further, we offer practitioners tangible design and success indications for future ICOs. [less ▲]

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See detailBlockchain Won’t Kill the Banks: Why Disintermediation Doesn’t Work in International Trade Finance
Fridgen, Gilbert UL; Radszuwill, Sven; Schweizer, André et al

in Communications of the Association for Information Systems (2021), 49

In the financial services industry, many people assume blockchain to have significant impacts. From research and practice, we observe two main paradigms of how organizations interact with blockchain ... [more ▼]

In the financial services industry, many people assume blockchain to have significant impacts. From research and practice, we observe two main paradigms of how organizations interact with blockchain. First, organizations use blockchain to optimize existing processes (blockchain-based business process optimization (BPO)). Second, organizations use blockchain to disrupt existing processes, foster disintermediation, and enable disruptive business models (blockchain-based business process disruption (BPD)). However, we lack scientific research that evaluates its de facto potential. We bridge this gap by following a design science research approach to design blockchain-based business process re-engineering (BPRE) for a letter of credit that combines the advantages of BPO and BPD. We conduct three design cycles and develop three artefacts: a BPO, a BPD, and a BPRE approach. Our BPRE approach combines the advantages of partial disintermediation (i.e., increased efficiency and transparency) with the advantages of intermediaries (i.e., process flexibility, liquidity provision, and dispute mediation). [less ▲]

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See detailUsing Blockchain to Coordinate Federal Processes: The Case of Germany's Federal Office for Migration and Refugees
Amend, Julia; van Dun, Christopher; Fridgen, Gilbert UL et al

in Urbach, Nils; Röglinger, Maximilian; Kautz, Karlheinz (Eds.) et al Digitalization Cases Vol. 2: Mastering Digital Transformation for Global Business (2021)

(a)Situation faced: The German asylum procedure requires close cooperation and information exchange between various authorities at the municipal, state, and federal levels. Federal separation of ... [more ▼]

(a)Situation faced: The German asylum procedure requires close cooperation and information exchange between various authorities at the municipal, state, and federal levels. Federal separation of competencies inhibits the delegation of process governance to a central authority such as the Federal Office for Migration and Refugees (BAMF). This separation also leads to regional differences as federal laws govern the procedure's general steps, whereas state laws govern implementation. Moreover, existing solutions for cross-organizational collaboration are limited in terms of flexibility, security, and data quality. As a result, the exchange of certain data on asylum procedures still occurs using Excel spreadsheets and e-mails.(b)Action taken: Against this backdrop, the BAMF explored technological options that would support the decentralized governance of the asylum procedure. After a preliminary evaluation, the BAMF decided to explore a solution based on blockchain technology. Building upon a successful proof of concept, the BAMF initiated a pilot project with Saxony's central immigration authority. This project aims to develop a blockchain solution that supports the coordination of asylum procedures and can be easily adapted to local differences and functional requirements.(c)Results achieved: The use of the blockchain solution allows for efficient, secure, and timely distribution of status information. It supports communication and improves coordination between authorities. Despite an apparent conflict between blockchain principles and data privacy requirements, the BAMF's design complies with relevant regulation (notably the GDPR). As a first-of-its-kind project, it outlines best practices and provides valuable insights into opportunities and challenges arising from the use of blockchain in the public sector.(d)Lessons learned: The BAMF's case demonstrates that blockchain solutions can be promising alternatives when the delegation of process governance to a central party is not desirable and when federal principles of organization are to be reflected technologically. However, blockchain projects require special attention to managing know-how and capabilities, software development activities, stakeholders, the regulatory context, and cross-organizational governance. [less ▲]

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See detailEnergieflexibilitätsdatenmodell der Energiesynchronisationsplattform: Teil der Reihe Diskussionspapiere V4 Konzept der Energiesynchronisationsplattform
Buhl, Hans Ulrich; Duda, Sebastian; Schott, Paul et al

Report (2021)

The energy flexibility data model developed within the framework of SynErgie is used for the generic and standardised description and modelling of energy flexibility. The data model enables (partially ... [more ▼]

The energy flexibility data model developed within the framework of SynErgie is used for the generic and standardised description and modelling of energy flexibility. The data model enables (partially) automated information technology processing of a wide variety of flexibility. The aim is to develop a comprehensive data model to map flexibility in a flexibility space and concrete flexibility measures. The aim is not to create a completely realistic representation of a flexibility. The focus is on mapping technically and energetically relevant information in a granularity that enables the communication of flexibility between industrial companies and energy markets. [less ▲]

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See detailDesigning Pareto optimal electricity retail rates when utility customers are prosumers
Saumweber, Andrea; Wederhake, Lars; Cardoso, Gonçalo et al

in Energy Policy (2021), 156

Electric retail rate design is relevant to utilities, customers, and regulators as retail rates impact the utility's revenue as well as the customers' electricity bills. In California, regulators approve ... [more ▼]

Electric retail rate design is relevant to utilities, customers, and regulators as retail rates impact the utility's revenue as well as the customers' electricity bills. In California, regulators approve rate proposals by privately owned vertical integrated utilities. Approval, however, is subject to compliance with multiple, potentially conflicting objectives such as economic or environmental objectives. Additionally, retail rates are price signals that affect how customers use electricity services. When utility customers change their usage, they also impact the ratemaking objectives to which rates have been designed. This suggests a feedback loop, which is particularly pronounced with prosumers, as they can systematically optimize their interactions with the electricity system. Prevalent ratemaking methods may not deliver retail rates that are optimal for multiple objectives when customers are prosumers. We propose a novel ratemaking method that formalizes the problem of designing retail rates as a multi-criteria optimization problem and accounts for prosumer reactions through a simulation-based optimization approach. Through a fictive case study, we found that the resulting Pareto frontiers are useful in recognizing and balancing tradeoffs among conflicting ratemaking objectives. Additionally, our results indicate that prevailing retail rates in California are not Pareto optimal. [less ▲]

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See detailRenewable electricity business models in a post feed-in tariff era
Rövekamp, Patrick; Schöpf, Michael; Wagon, Felix et al

in Energy (2021), 216

To expand intermittent renewable electricity sources (RESs), worldwide energy policy makers have introduced fixed feed-in tariffs (FITs). However, FITs typically expire after a limited time period. Due to ... [more ▼]

To expand intermittent renewable electricity sources (RESs), worldwide energy policy makers have introduced fixed feed-in tariffs (FITs). However, FITs typically expire after a limited time period. Due to the intermittent electricity supply of RES, market distortions, and insufficient flexibility options, exclusive participation in wholesale electricity markets might not be a viable business model for RES that no longer receive a FIT. Thus, it remains unclear which RES business models (RBMs) ensure a viable operation of RES in the post FIT era. To close this research gap, we present a typology encompassing five RBM archetypes: wholesale electricity market (1), physical power purchase agreements (2), nonphysical power purchase agreements (3), self-consumption (4), and on-site power-2-X (5). The typology includes three additional service layers, which may enhance the profitability of RBM archetypes by opening up additional revenue streams: infrastructure services (1), electricity storage services (2), and ancillary services (3). We highlight the need for new approaches to quantify the viability of RBM archetypes and services layers under different regulatory, technological, and market conditions. To prevent the imminent decommissioning of existing RESs, policy makers must shape the next era of the energy transition, weighting the implications of market-based and intervention-based energy policy approaches. [less ▲]

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See detailOptimierung auf der Energiesynchronisationsplattform: Teil der Reihe Diskussionspapiere V4 Konzept der Energiesynchronisationsplattform
Schlip, Johannes; Bank, Lukas; Köberlein, Jana et al

Report (2021)

This discussion paper is intended to present the range of optimisers developed in the SynErgie project and to go into more detail on the methodological aspects. In this discussion paper, a distinction is ... [more ▼]

This discussion paper is intended to present the range of optimisers developed in the SynErgie project and to go into more detail on the methodological aspects. In this discussion paper, a distinction is made between optimisers on the company platform and on the market platform. On the company platform, the goal is to ensure optimal operation of the plants, so that in addition to energy, other operational key figures are included in the analysis. These include various optimisers from production planning and control (PPC), which, in addition to energy costs, also track logistical target variables, such as the on-time delivery of products, as key figures. In addition to the production systems, the facilities of the technical building equipment (TGA) are also optimised on the company platform. Furthermore, within the discussion paper, we differentiate between energy-oriented and energy-flexible optimisation. Energy-oriented optimisation, pursues the goal of minimise energy costs, uses information from the energy markets, such as electricity price forecasts. With flexible optimisation, for example, flexibilities are determined or scheduled, which can then be transmitted to the market. The discussion paper also deals with the optimisation services of the optimisation services of the market platform, which determines the optimal marketing opportunity for the determined. The optimiser calculates the optimal time for different markets in order to maximise the proceeds of the maximise the revenue of the flexibility offered or minimise the costs. Should a flexibility provider decide to use a service to take over the marketing of his flexibility measure, information on the flexibility is transmitted between the flexibility is transmitted between the service and the company in order to be able to implement the measure in the company. [less ▲]

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See detailReferenzarchitektur der Energiesynchronisationsplattform: Teil der Reihe Diskussionspapiere V4 Konzept der Energiesynchronisationsplattform
Fridgen, Gilbert UL; Potenciano Menci, Sergio UL; van Stiphoudt, Christine UL et al

Report (2021)

The Energy Synchronisation Platform (ESP) maps the entire process of information-automated energy flexibility trading from the machine to the energy market. The ESP is thus the overall concept that ... [more ▼]

The Energy Synchronisation Platform (ESP) maps the entire process of information-automated energy flexibility trading from the machine to the energy market. The ESP is thus the overall concept that enables industrial demand flexibility. This discussion paper on the ESP reference architecture is an update of an older version presented in Reinhart et al. (2020). Since then, the development of individual services has been discontinued and the market platform (MP) is no longer designed as a broker architecture. It now serves as the first point of contact between industrial companies and service providers and takes on an intermediary role. The Enterprise Platform (UP) thus takes on a more important role in terms of communication within ESP, as all communication with services now takes place via the UP. Furthermore, in this detailed discussion paper we provide a collection of the different services that have been developed within SynErgie for the MP and the UP. Each service presented includes a brief description, the relevant inputs and outputs, and other relevant comments. Furthermore, an overview of the primary reference processes considered for the operation and marketing of flexibility is provided. These are presented on the basis of three possible use cases. Thus, logic and interactions of the different processes within the ESP are shown [less ▲]

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See detailSmarter charging: Power allocation accounting for travel time of electric vehicle drivers
Fridgen, Gilbert UL; Thimmel, Markus; Weibelzahl, Martin et al

in Transportation Research Part D: Transport and Environment (2021), 97

Growing electric vehicle (EV) dissemination will increase charging infrastructure installation at home. Similar daily routines are associated with high peak loads due to simultaneous EV charging. However ... [more ▼]

Growing electric vehicle (EV) dissemination will increase charging infrastructure installation at home. Similar daily routines are associated with high peak loads due to simultaneous EV charging. However, predominantly residential power transmission is not designed for such high loads, yielding charging bottlenecks and restricting future charging at home. Addressing such bottleneck situations and including the EV driver perspective, we introduce a power allocation mechanism that considers the total travel time of the upcoming trip, consisting of actual driving time and time required for charging externally (including the detour to public charging facilities). Assuming that travel time generally negatively correlates with EV driver utility, our optimization model maximizes the resulting utility of EV drivers. Avoiding unnecessary external charging stops due to an insufficient state of charge at the time of departure, our approach generates travel time savings that increase overall EV driver utility. We illustrate our approach using exemplary cases. [less ▲]

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See detailHow Different Electricity Pricing Systems Affect the Energy Trilemma : Assessing Indonesia?s Electricity Market Transition
Heffron, Raphael J.; Körner, Marc-Fabian; Sumarno, Theresia et al

Report (2021)

Many countries have a clear policy objective of increasing their share of renewable energy sources (RESs). However, a major impediment to higher RES penetration often lies in the historically grown ... [more ▼]

Many countries have a clear policy objective of increasing their share of renewable energy sources (RESs). However, a major impediment to higher RES penetration often lies in the historically grown structures of a country’s electricity sector. In Indonesia, policymakers have relied on cheap fossil fuels and state control to provide the population with access to both reliable and affordable electricity. However, this focus on only two of the three horns of the energy trilemma, namely energy security and energy equity (and not sustainability), may put Indonesia at risk of missing its ambitious RES targets. In this context, a number of small- scale reform attempts to promote RES integration in recent years have proved to be relatively unsuccessful. Like many other countries, Indonesia needs clear policy directions to avoid an unsustainable lock-in into a fossil fuel future. In the last decades, several other countries have successfully restructured their electricity sectors, for example by introducing a wholesale market for electricity under different electricity pricing systems, including nodal, zonal, or uniform pricing. These countries may hold valuable experiences of overcoming the historically grown barriers to successful RES integration through a greater role for market mechanisms. This paper develops three generic models that allow policymakers to analyze the impact of introducing either a nodal, a zonal, or a uniform pricing system on the three horns of the energy trilemma in their country. We evaluate our model using a simplified network representation of the Indonesian electricity sector. Our results indicate that each of the pricing systems is able to foster specific horns of the energy trilemma. Considering that any major reform intended to improve energy sustainability in Indonesia will only be a success if it also addresses energy security and energy equity, we also discuss our results from the perspective of energy justice and the need to balance the country’s energy trilemma. Ultimately, we illustrate a transformation pathway for a more sustainable and just transition to a low-carbon economy in Indonesia. [less ▲]

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See detailThe Cost of No Reform: Assessing the Impact of Different Electricity Pricing Regimes on Indonesia\textquoterights Energy Trilemma
Heffron, Raphael; Körner, Marc Fabian; Sumarno, Theresia et al

E-print/Working paper (2021)

Many countries have a clear policy objective of increasing their share of renewable energy sources (RESs). However, a major impediment to higher RES penetration often lies in the historically grown ... [more ▼]

Many countries have a clear policy objective of increasing their share of renewable energy sources (RESs). However, a major impediment to higher RES penetration often lies in the historically grown structures of a country\textquoterights electricity sector. In Indonesia, policy makers have relied on cheap fossil fuels and state control to provide the population with access to both reliable and affordable electricity. However, this focus on only two of the three horns of the energy trilemma, namely energy security and energy equity (and not sustainability), may put Indonesia at risk of missing its ambitious RES targets. In this context, a number of small-scale reform attempts to promote RES integration in recent years have proved to be relatively unsuccessful. Like many other countries, Indonesia needs clear policy directions to avoid an unsustainable lock-in into a fossil fuel future. In the last decades, several other countries have successfully restructured their electricity sectors, for example by introducing a wholesale market for electricity under different electricity pricing systems, including nodal, zonal, or uniform pricing. These countries may hold valuable experiences of overcoming the historically grown barriers to successful RES integration through a greater role for market mechanisms. We develop three generic models that allow policy makers to analyze the impact of introducing either a nodal, a zonal, or a uniform pricing system on the three horns of the energy trilemma in their country. We evaluate our model using a simplified network representation of the Indonesian electricity sector. Our results indicate that each of the pricing systems is able to foster specific horns of the energy trilemma. Considering that any major reform intended to improve energy sustainability in Indonesia will only be a success if it also addresses energy security and energy equity, we also discuss our results from the perspective of energy justice and the need to balance the country\textquoterights energy trilemma. Ultimately, we illustrate a transformation pathway for a more sustainable and just transition to a low-carbon economy in Indonesia. [less ▲]

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See detailThe Blockchain Effect: From Inter-Ecosystem to Intra-Ecosystem Competition
Höß, Alexandra UL; Schlatt, Vincent; Rieger, Alexander UL et al

in Proceedings of the Twenty-Ninth European Conference on Information Systems (ECIS) (2021)

Blockchains enable distributed operation, decentralized control, and token-based representations of tangible and intangible assets. Organizations commonly use blockchain technology to foster collaboration ... [more ▼]

Blockchains enable distributed operation, decentralized control, and token-based representations of tangible and intangible assets. Organizations commonly use blockchain technology to foster collaboration. In this paper, we investigate the use of blockchain to foster competition. We conduct a single-case study of Germany’s mobility-as-a-service community and its efforts to use blockchain as a technical backbone for mobility ecosystems. The community views blockchain as a technology that embodies organizing principles of empowerment and equality. These principles motivated the community to rethink ecosystem structure. In particular, the community began to question the exclusive, non-adversarial position of mobility service aggregators. We find that rethinking this position might shift their competitive focus from the inter- to the intra-ecosystem level and enables the creation of a larger ecosystem. As a second-order effect, the community began to rethink ecosystem governance. Specifically, it began to explore options for effectively distributed decision making while safeguarding efficiency. [less ▲]

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See detailNot All Doom and Gloom: How Energy-Intensive and Temporally Flexible Data Center Applications May Actually Promote Renewable Energy Sources
Fridgen, Gilbert UL; Körner, Marc-Fabian; Walters, Steffen et al

in Business and Information Systems Engineering (2021)

To achieve a sustainable energy system, a further increase in electricity generation from renewable energy sources (RES) is imperative. However, the development and implementation of RES entail various ... [more ▼]

To achieve a sustainable energy system, a further increase in electricity generation from renewable energy sources (RES) is imperative. However, the development and implementation of RES entail various challenges, e.g., dealing with grid stability issues due to RES’ intermittency. Correspondingly, increasingly volatile and even negative electricity prices question the economic viability of RES-plants. To address these challenges, this paper analyzes how the integration of an RES-plant and a computationally intensive, energy-consuming data center (DC) can promote investments in RES-plants. An optimization model is developed that calculates the net present value (NPV) of an integrated energy system (IES) comprising an RES-plant and a DC, where the DC may directly consume electricity from the RES-plant. To gain applicable knowledge, this paper evaluates the developed model by means of two use-cases with real-world data, namely AWS computing instances for training Machine Learning algorithms and Bitcoin mining as relevant DC applications. The results illustrate that for both cases the NPV of the IES compared to a stand-alone RES-plant increases, which may lead to a promotion of RES-plants. The evaluation also finds that the IES may be able to provide significant energy flexibility that can be used to stabilize the electricity grid. Finally, the IES may also help to reduce the carbon-footprint of new energy-intensive DC applications by directly consuming electricity from RES-plants. [less ▲]

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See detailThe DLPS: A New Framework for Benchmarking Blockchains
Sedlmeir, Johannes; Ross, Philipp; Luckow, André et al

in Proceedings of the 54th Hawaii International Conference on System Sciences (2021)

Distributed Ledger Technologies (DLT) promise to revolutionize business ecosystems by permitting secure transactions without intermediaries. A widely recognized challenge that inhibits the uptake of DLT ... [more ▼]

Distributed Ledger Technologies (DLT) promise to revolutionize business ecosystems by permitting secure transactions without intermediaries. A widely recognized challenge that inhibits the uptake of DLT is scalability and performance. Hence, quantifying key metrics such as throughput and latency is crucial for designing DLT-based infrastructures, applications, and ecosystems. However, current benchmarking frameworks for blockchains do not cover the whole benchmarking process; impeding transparent comparisons of different DLT networks. In this paper, we present the Distributed Ledger Performance Scan (DLPS), an open-source framework for end-to-end performance characterizations of blockchains, addressing the need to transparently and automatically evaluate the performance of highly customizable configurations. We describe our new framework and argue that it significantly improves existing DLT benchmarking solutions. To demonstrate the capabilities of the DLPS, we also summarize the main results obtained from a series of experiments that we have conducted with it, giving a first comprehensive comparison of essential scalability properties of several commonly used enterprise blockchains. [less ▲]

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