Blockchain Master Thesis Topics

Blockchain has an objective to store digital information securely despite challenges. Due to its popular potentialities, it is deployed in many industrial sectors for its business applications. Nowadays, many blockchain-supported platforms are developed to build and test blockchain applications in various scenarios before direct implementation. From this page, you can get useful information on Blockchain Master Thesis Topics!!!

Most importantly, Ethereum and Bitcoin Blockchain have achieved massive attention for real-world deployment. Though it has several benefits, still it is lacking in many aspects. Some of the major issues of blockchain are cost, latency, scalability, storage, and throughput which is given as follows, 

What are the important limitations of blockchain technology? 

• Cost:
  • In the blockchain consensus mechanism, each block is verified by the peer nodes. Only after the confirmation, the block is get registered in the ledger and added to the chain. For this verification service, the user must pay the peers. If the verification is done by externals then the user can pay a low cost for more transactions.
• Latency:
  • Measure the amount of time required to accept the transaction from the time of submission. If there are huge transactions, then it takes more time for miners/peers verification. For example, Bitcoin takes 600 seconds for 1 block mining so the acceptance time also increases.
• Scalability
  • Currently, blockchain looking forward to a solution to improve the scalability of the network. In other words, it requires high throughput but without affecting the security and distributed nature of the network. Further, the scalability also depends on elements such as storage, delay, and cost
• Storage:
  • Each block in the blockchain has limited capacity (MB) but when there are large-scale transactions are ready to record then eventually the blockchain size will get increase. So, it requires more storage space to deal with huge records.
• For instance: Litecoin (LTC) -28.45 GB,
  • Ethereum (ETH) – 222.58 GB and Bitcoin (BTC) – 305.23 GB
• Throughput:
  • Measure the total quantity of transactions in each second. It is the most important factor to increase the network speed. For instance, public blockchain has low throughput than the private blockchain which is given below,
    • Public: Ethereum – 15 tx/s and Bitcoin – 7 tx/s
    • Private: Paypal – 193 tx/s and Visa – 1700 tx/s

Next, we can see the important features of the blockchain. These features define exactly what is blockchain. Also, you can able to identify how the blockchain is much better than the conventional security mechanisms. Let us now see about interesting key properties before implementing blockchain master thesis topics.

Key Properties of Blockchains

• Decentralized Consensus
  • Problem– In a centralized system, the controller who acts as an admin will take a decision. One wrong decision may affect the whole system.
  • Solution – Blockchain utilizes distributed consensus mechanism to manage smart contracts and check majority votes from miners to take decisions.
• Non-reputation Guarantee
  • Problem– The user can repudiate the communications or transactions in the system.
  • Solution – Blockchains apply digital signatures on each block/transaction to create everlasting databases.
• Cryptographic Security
  • Problem– Proving the security algorithms is a difficult process in existing approaches.
  • Solution– Blockchain uses strong cryptographic techniques and algorithms. In addition, it has decentralized consensus smart contract to strengthen the security
• Trustless Systems
  • Problem– In exiting system, if the employed third party is compromised by illegal activities then the threat of privacy and security risk will increase
  • Solution– Blockchain enforces trust by considering the peer node’s validation. Only if an attacker gains 60% majority votes, they can control the network.
• Distributed Nature
  • Problem – The modern system requires decentralized control to avoid single-point failure. But the existing systems are centralized in nature. In some cases, they are decentralized but don’t have effective security techniques.
  • Solution– Blockchain offers the decentralized security platform for sort users

Further, we have also given you the blockchain research scope. These areas have the special attention of scholars to lead the future direction of blockchain research. For your awareness, we have listed a few of them,

Major Research Scopes of Blockchain 

• New important challenges in different blockchain solutions
• Recent security techniques and performance evaluation parameters
• Significant pros and cons of the blockchain system during the performance assessment
• In what way different blockchain systems are assessed in terms of consensus mechanism

Due to the increased growth of the blockchain in research, numerous platforms are introduced to support blockchain solution development. Though it is useful, it has some open issues for implementing the blockchain is real. For your reference, we have given a few of them,

Open Issues of Blockchain Platforms 

• Geth v1.4.18 – Consensus protocols
• Parity v1.6.0 – Transaction signing
• Etherum v.5.9 – transaction propagation, cost of consensus and peer discovery
• HLF – Ordering service
• HLF v0.6.0 – Consensus protocols
• Byteball – data storage in RDBMS
• HLF – Consensus Mechanism
• Private Ethereum – Transaction reading and writing logs
• Private Ethereum – Consensus Mechanism
• HLF – v1.0 – No parallel processing and commitments for the transaction
• HLF v1.0+ – Ordering service from user to write ledger
• HLF v1.2 – When the transaction is less, then it is committing phase. Similarly, when the transaction is more, then it is endorsement phase
• HLF v1.0 – endorsement policy, validation policy, and commitment policy for transaction

In addition, our researchers have pointed out three key security challenges in blockchain technology. And they are standard risks, value transfer risks, and smart contract risks. Let’s see them in detail,

What are the security risks of Blockchain?

• Standard: There is no proper standardization for blockchain technologies in a business environment. So, it has no transparent laws, policies, and regulations 
• Value transfer: Due to the distribution of the blockchain, the nodes in the network will transfer the valuable data among other nodes directly. The value may be sensitive information of business which ends up in new risk
• Smart contract: Though smart contract has a strong encryption technique to hash the block/transaction, it has one-to-one mapping i.e., physical to a digital platform. So, it has some security risks. 

Security Attacks in Blockchain 

To solve security attacks, one should use effective measures through advanced blockchain solutions and technologies. For instance, one can minimize the mining fee limit for each block. Below, we have bulletined five common blockchain attacks vectors,

• Mining pool attacks
• Smart contract attacks
• User wallet attacks
• Blockchain network attacks
• Attack on verifying the transaction

Though distributed denial of service (DDoS) attacks is rare to occur in blockchain, they can hack the network. To hack the network, it continuously sends massive requests to the network. As a result, increase the network traffic which slows down the system computing speeds. On the whole, DDoS attackers will succeed in disconnecting a network’s crypto exchanges, e-wallets, mining pools, and other user services. So, it is essential to take effective measures to prevent DDoS attacks on the application layer. Here, we have also given you other threatening attacks in different phases.

• Peer-to-Peer System
  • Consensus Delay
  • Finney Hack / Attacks
  • Selfish Mining
  • Timejacking Attacks
  • DNS Hijacks / DNS redirect
  • Eclipse Attack
  • Block Withholding Attack
  • Majority Attack / 51% Attack
  • Border Gateway Protocol (BGP) route Hijacks
  • Distributed Denial of Service (DDoS) Attacks
• Blockchain Application
  • Balance Attacks
  • Wallet Hacking
  • Overflow Attacks
  • Cryptojacking
  • Replay Attacks
  • Reentrancy Attacks
  • Double-spending
  • Short Address Attacks
  • Smart Contract Denial of Service (DoS)
• Blockchain Structure
  • Orphaned Blocks
  • Forks

So far, we have discussed the blockchain research scope, open issues in platforms, security risks, attacks, etc. Now we can see the foremost Blockchain Master Thesis Topics which has future scope for sure. 

Blockchain Master Thesis Topics

• Inspection of Attacks in Blockchain Layer and Application Layer
• Optimization of Consensus Algorithm for Public and Private Blockchain
• Blockchain-based Secure Distributed Data Storage and Access

Moreover, we have also listed current research ideas for master thesis topics. More than this, we have an enormous amount of the latest research notions. You can find us as the right place to get up-to-date research updates. 

What are the master’s thesis ideas in blockchain? 

• Blockchain-based Secure Digital Polling System
• Deployment of IoT enabled Blockchain in Fog-Edge Computing Environment
• Secure Government Documents Management and Distribution using Blockchain Technology

Next, our native writer team suggested some steps / key points that make you write the best thesis. Since a thesis is the best opportunity to deliver your research efforts and capabilities to the readers and followers.  

How to write a good master thesis? 

• Make clear research objectives
• Collect the recent Blockchain Master Thesis Topics
• Select the optimal Topic in your interest
• Perform Thorough Literature Survey (take nearly 40+ topics)
• Analyze the advantage and disadvantages of the papers
• Narrow down the topic and point out the research problem for the Thesis
• Elaborate the handpicked Optimal Solutions (Techniques and Algorithms) to solve the problem
• Analyze and Discuss the Experimental Results
• Give Summary, Limitation, and Conclusion (emphasis the findings)
• Recommend the Future works

On the whole, if you need extraordinary Blockchain Master Thesis Topics then contact us. Our experts will guide you in the right direction to reach your research success in a remarkable way of approach.