Evaluating the Viability of Blockchain Solutions Through a Multi-Dimension Methodology: A Case Study on Malware Detection

Bitcoin represents the first successful application of blockchain technology in widespread use. After Bitcoin, this disruptive technology has been proposed as a transformative solution in numerous domains where transparency and trust are key properties. However, while there are blockchain-based proposals that have achieved great success (notable examples include Ethereum, Smart Contracts, Hyperledger Fabric, and IPFS), many others have remained research ideas whose implementation has failed to achieve commercial adoption (Self-Sovereign Identity is one such example). This paper examines the reasons why a proposal has or has not achieved commercial success and concludes that, beyond purely technical performance metrics, a complex interplay of other factors (including economic, societal, and regulatory aspects) impacts the success of a proposal. Subsequently, this paper defines a novel methodology to assess the viability of blockchain solutions, which integrates economic factors with other relevant aspects into a single quantitative model that captures elements favoring or hindering the success of a proposal. To instantiate the proposed model, we apply it to a recent research proposal for a blockchain-based malware detection system that leverages a public blockchain (Ethereum) to store and verify malware signatures via certified agencies.