VAPOR: A Value-Centric Blockchain that is Scale-out, Decentralized, and Flexible by Design

Zhijie Ren; Zekeriya Erkin

doi:10.1007/978-3-030-32101-7_29

VAPOR: A Value-Centric Blockchain that is Scale-out, Decentralized, and Flexible by Design

^*Corresponding author for this work

Cyber Security

Research output: Chapter in Book/Conference proceedings/Edited volume › Conference contribution › Scientific › peer-review

5 Citations (Scopus)

75 Downloads (Pure)

Abstract

Blockchains is a special type of distributed systems that operates in unsafe networks. In most blockchains, all nodes should reach consensus on all state transitions with Byzantine fault tolerant algorithms, which creates bottlenecks in performance. In this paper, we propose a new type of blockchains, namely Value-Centric Blockchains (VCBs), in which the states are specified as values (or more comprehensively, coins) with owners and the state transition records are then specified as proofs of the ownerships of individual values. We then formalize the “rational” assumptions that have been used in most blockchains. We further propose a VCB, VAPOR, that guarantees secure value transfers if all nodes are rational and keep the proofs of the values they owned, which is merely parts of the whole state transition record. As a result, we show that VAPOR enjoys significant benefits in throughput, decentralization, and flexibility without compromising security.

Original language	English
Title of host publication	Financial Cryptography and Data Security
Subtitle of host publication	23rd International Conference, FC 2019, Revised Selected Papers
Editors	Ian Goldberg, Tyler Moore
Place of Publication	Cham
Publisher	Springer
Pages	487-507
Number of pages	21
Volume	11598
ISBN (Electronic)	978-3-030-32101-7
ISBN (Print)	978-3-030-32100-0
DOIs	https://doi.org/10.1007/978-3-030-32101-7_29
Publication status	Published - 2019
Event	23rd International Conference on Financial Cryptography and Data Security, FC 2019 - St. Kitts, Saint Kitts and Nevis Duration: 18 Feb 2019 → 22 Feb 2019

Publication series

Name	Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
Volume	11598
ISSN (Print)	0302-9743
ISSN (Electronic)	1611-3349

Name	Security and Cryptology
Volume	11598

Conference

Conference	23rd International Conference on Financial Cryptography and Data Security, FC 2019
Country/Territory	Saint Kitts and Nevis
City	St. Kitts
Period	18/02/19 → 22/02/19

Keywords

Blockchain
Consensus algorithm
Decentralization
Distributed ledgers
Scalability

Access to Document

10.1007/978-3-030-32101-7_29

VAPOR__a_Value_Centric_Blockchain_that_is_Scale_out__Decentralized__and_Flexible_by_DesignAccepted author manuscript, 341 KB

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Ren, Z., & Erkin, Z. (2019). VAPOR: A Value-Centric Blockchain that is Scale-out, Decentralized, and Flexible by Design. In I. Goldberg, & T. Moore (Eds.), Financial Cryptography and Data Security : 23rd International Conference, FC 2019, Revised Selected Papers (Vol. 11598, pp. 487-507). (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics); Vol. 11598), (Security and Cryptology; Vol. 11598). Springer. https://doi.org/10.1007/978-3-030-32101-7_29

Ren, Zhijie ; Erkin, Zekeriya. / VAPOR : A Value-Centric Blockchain that is Scale-out, Decentralized, and Flexible by Design. Financial Cryptography and Data Security : 23rd International Conference, FC 2019, Revised Selected Papers. editor / Ian Goldberg ; Tyler Moore. Vol. 11598 Cham : Springer, 2019. pp. 487-507 (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)). (Security and Cryptology).

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abstract = "Blockchains is a special type of distributed systems that operates in unsafe networks. In most blockchains, all nodes should reach consensus on all state transitions with Byzantine fault tolerant algorithms, which creates bottlenecks in performance. In this paper, we propose a new type of blockchains, namely Value-Centric Blockchains (VCBs), in which the states are specified as values (or more comprehensively, coins) with owners and the state transition records are then specified as proofs of the ownerships of individual values. We then formalize the “rational” assumptions that have been used in most blockchains. We further propose a VCB, VAPOR, that guarantees secure value transfers if all nodes are rational and keep the proofs of the values they owned, which is merely parts of the whole state transition record. As a result, we show that VAPOR enjoys significant benefits in throughput, decentralization, and flexibility without compromising security.",

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author = "Zhijie Ren and Zekeriya Erkin",

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Ren, Z & Erkin, Z 2019, VAPOR: A Value-Centric Blockchain that is Scale-out, Decentralized, and Flexible by Design. in I Goldberg & T Moore (eds), Financial Cryptography and Data Security : 23rd International Conference, FC 2019, Revised Selected Papers. vol. 11598, Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics), vol. 11598, Security and Cryptology, vol. 11598, Springer, Cham, pp. 487-507, 23rd International Conference on Financial Cryptography and Data Security, FC 2019, St. Kitts, Saint Kitts and Nevis, 18/02/19. https://doi.org/10.1007/978-3-030-32101-7_29

VAPOR: A Value-Centric Blockchain that is Scale-out, Decentralized, and Flexible by Design. / Ren, Zhijie; Erkin, Zekeriya.
Financial Cryptography and Data Security : 23rd International Conference, FC 2019, Revised Selected Papers. ed. / Ian Goldberg; Tyler Moore. Vol. 11598 Cham: Springer, 2019. p. 487-507 (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics); Vol. 11598), (Security and Cryptology; Vol. 11598).

Research output: Chapter in Book/Conference proceedings/Edited volume › Conference contribution › Scientific › peer-review

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N2 - Blockchains is a special type of distributed systems that operates in unsafe networks. In most blockchains, all nodes should reach consensus on all state transitions with Byzantine fault tolerant algorithms, which creates bottlenecks in performance. In this paper, we propose a new type of blockchains, namely Value-Centric Blockchains (VCBs), in which the states are specified as values (or more comprehensively, coins) with owners and the state transition records are then specified as proofs of the ownerships of individual values. We then formalize the “rational” assumptions that have been used in most blockchains. We further propose a VCB, VAPOR, that guarantees secure value transfers if all nodes are rational and keep the proofs of the values they owned, which is merely parts of the whole state transition record. As a result, we show that VAPOR enjoys significant benefits in throughput, decentralization, and flexibility without compromising security.

AB - Blockchains is a special type of distributed systems that operates in unsafe networks. In most blockchains, all nodes should reach consensus on all state transitions with Byzantine fault tolerant algorithms, which creates bottlenecks in performance. In this paper, we propose a new type of blockchains, namely Value-Centric Blockchains (VCBs), in which the states are specified as values (or more comprehensively, coins) with owners and the state transition records are then specified as proofs of the ownerships of individual values. We then formalize the “rational” assumptions that have been used in most blockchains. We further propose a VCB, VAPOR, that guarantees secure value transfers if all nodes are rational and keep the proofs of the values they owned, which is merely parts of the whole state transition record. As a result, we show that VAPOR enjoys significant benefits in throughput, decentralization, and flexibility without compromising security.

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ER -

Ren Z, Erkin Z. VAPOR: A Value-Centric Blockchain that is Scale-out, Decentralized, and Flexible by Design. In Goldberg I, Moore T, editors, Financial Cryptography and Data Security : 23rd International Conference, FC 2019, Revised Selected Papers. Vol. 11598. Cham: Springer. 2019. p. 487-507. (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)). (Security and Cryptology). doi: 10.1007/978-3-030-32101-7_29

VAPOR: A Value-Centric Blockchain that is Scale-out, Decentralized, and Flexible by Design

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Keywords

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