Proceedings ArticleDOI
A Secure Sharding Protocol For Open Blockchains
Loi Luu,Viswesh Narayanan,Chaodong Zheng,Kunal Baweja,Seth Gilbert,Prateek Saxena +5 more
- pp 17-30
TLDR
ELASTICO is the first candidate for a secure sharding protocol with presence of byzantine adversaries, and scalability experiments on Amazon EC2 with up to $1, 600$ nodes confirm ELASTICO's theoretical scaling properties.Abstract:
Cryptocurrencies, such as Bitcoin and 250 similar alt-coins, embody at their core a blockchain protocol --- a mechanism for a distributed network of computational nodes to periodically agree on a set of new transactions. Designing a secure blockchain protocol relies on an open challenge in security, that of designing a highly-scalable agreement protocol open to manipulation by byzantine or arbitrarily malicious nodes. Bitcoin's blockchain agreement protocol exhibits security, but does not scale: it processes 3--7 transactions per second at present, irrespective of the available computation capacity at hand. In this paper, we propose a new distributed agreement protocol for permission-less blockchains called ELASTICO. ELASTICO scales transaction rates almost linearly with available computation for mining: the more the computation power in the network, the higher the number of transaction blocks selected per unit time. ELASTICO is efficient in its network messages and tolerates byzantine adversaries of up to one-fourth of the total computational power. Technically, ELASTICO uniformly partitions or parallelizes the mining network (securely) into smaller committees, each of which processes a disjoint set of transactions (or "shards"). While sharding is common in non-byzantine settings, ELASTICO is the first candidate for a secure sharding protocol with presence of byzantine adversaries. Our scalability experiments on Amazon EC2 with up to $1, 600$ nodes confirm ELASTICO's theoretical scaling properties.read more
Citations
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Spurt: Scalable Distributed Randomness Beacon with Transparent Setup
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Winning the Caucus Race: Continuous Leader Election via Public Randomness.
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Position Paper on Blockchain Technology: Smart Contract and Applications
Weizhi Meng,Jianfeng Wang,Xianmin Wang,Joseph K. Liu,Zuoxia Yu,Jin Li,Yongjun Zhao,Sherman S. M. Chow +7 more
TL;DR: The background of blockchain technology is introduced, one of its important component — smart contract — is discussed, and its recent applications in many fields such as cryptocurrency, financial services, risk management, and Internet of Things are presented.
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A Secure and Effective Construction Scheme for Blockchain Networks
TL;DR: A secure and effective construction scheme for blockchain networks to improve performance and address the effective management concerns of blockchain data based on transaction categories is proposed.
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Combined Cooling, Heating, and Power System in Blockchain-Enabled Energy Management.
TL;DR: A distributed algorithm that is able to find the point of equilibrium through a limited number of iterations is proposed, and a blockchain-enabled energy management system is designed, where the information interactions as well as energy transactions between APG and CCHPs can be carried out effectively and safely.
References
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Book ChapterDOI
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Proceedings ArticleDOI
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