Performance evaluation of an oracle-based interoperability for permissioned blockchain

Blockchain interoperability has become an essential requirement for the advancement of blockchain technology in numerous fields. Enterprise organizations are increasingly utilizing permissioned blockchains to manage and store their organizations’ data and transactions in a private immutable ledger. Interoperability enables permissioned blockchain platforms to communicate and exchange information which is paramount for fully exploiting permissioned blockchains as facilitators for business-to-business applications. Additionally, the cross-network invocation of smart contracts under agreed conditions enhances business operations. Blockchain oracles can enable permissioned blockchain interoperability and cross-network transactions in a seamless and private manner. However, the literature has not studied their performance as an interoperability technique between permissioned blockchains. This study describes a performance evaluation of a blockchain oracle-based interoperability system between Hyperledger Fabric and R3 Corda. Using Hyperledger Caliper benchmark tool, we measured the cross-network transaction throughput and compared it with the local transaction throughput. Results of the evaluations showed low throughput measurements of the cross-network transactions between Hyperledger Fabric and Corda. We also observed low throughput measurements of the Corda local transactions. Furthermore, we employed an evaluation framework for blockchain interoperability techniques and conducted an analysis of the blockchain oracle-based interoperability method. We identified performance bottlenecks and recommended solutions to improve the blockchain oracle-based interoperability system and achieve high transaction throughput.