Abstract
Blockchain technology has the potential to decentralise many traditionally centralised systems. However, scalability remains a key challenge. A horizontally scalable solution, where performance increases by adding more nodes, would move blockchain systems one step closer to ubiquitous use. We design a novel blockchain system called CHECO. Each node in our system maintains a personal hash chain, which only stores transactions that the node is involved in. A consensus is reached on special blocks called checkpoint blocks rather than on all transactions. Checkpoint blocks are effectively a hash pointer to the personal hash chains; thus a single checkpoint block may represent an arbitrarily large set of transactions. We introduce a validation protocol so that any node can check the validity of any transaction. Since transaction and validation protocols are point-to-point, we achieve horizontal scalability. We analytically evaluate our system and show a number of highly desirable correctness properties such as consensus on the validity of transactions. Further, we give a free and open-source implementation of CHECO and evaluate it experimentally. Our results show a strong indication of horizontal scalability.
Original language | English |
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Title of host publication | 2018 IFIP Networking Conference (IFIP Networking) and Workshops |
Subtitle of host publication | Proceedings |
Editors | Burkhard Stiller |
Place of Publication | Piscataway, NJ, USA |
Publisher | IEEE |
Pages | 424-432 |
Number of pages | 9 |
ISBN (Electronic) | 978-3-903176-08-9 |
ISBN (Print) | 978-1-5386-6280-9 |
DOIs | |
Publication status | Published - 2019 |
Event | 17th IFIP Networking Conference IFIP Networking and Workshops, IFIP Networking 2018 - Zurich, Switzerland Duration: 14 May 2018 → 16 May 2018 |
Conference
Conference | 17th IFIP Networking Conference IFIP Networking and Workshops, IFIP Networking 2018 |
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Country/Territory | Switzerland |
City | Zurich |
Period | 14/05/18 → 16/05/18 |