224 research outputs found
LightChain: A DHT-based Blockchain for Resource Constrained Environments
As an append-only distributed database, blockchain is utilized in a vast
variety of applications including the cryptocurrency and Internet-of-Things
(IoT). The existing blockchain solutions have downsides in communication and
storage efficiency, convergence to centralization, and consistency problems. In
this paper, we propose LightChain, which is the first blockchain architecture
that operates over a Distributed Hash Table (DHT) of participating peers.
LightChain is a permissionless blockchain that provides addressable blocks and
transactions within the network, which makes them efficiently accessible by all
the peers. Each block and transaction is replicated within the DHT of peers and
is retrieved in an on-demand manner. Hence, peers in LightChain are not
required to retrieve or keep the entire blockchain. LightChain is fair as all
of the participating peers have a uniform chance of being involved in the
consensus regardless of their influence such as hashing power or stake.
LightChain provides a deterministic fork-resolving strategy as well as a
blacklisting mechanism, and it is secure against colluding adversarial peers
attacking the availability and integrity of the system. We provide mathematical
analysis and experimental results on scenarios involving 10K nodes to
demonstrate the security and fairness of LightChain. As we experimentally show
in this paper, compared to the mainstream blockchains like Bitcoin and
Ethereum, LightChain requires around 66 times less per node storage, and is
around 380 times faster on bootstrapping a new node to the system, while each
LightChain node is rewarded equally likely for participating in the protocol
Divide and Scale: Formalization of Distributed Ledger Sharding Protocols
Sharding distributed ledgers is the most promising on-chain solution for
scaling blockchain technology. In this work, we define and analyze the
properties a sharded distributed ledger should fulfill. More specifically, we
show that a sharded blockchain cannot be scalable under a fully adaptive
adversary, but it can scale up to under an epoch-adaptive
adversary. This is possible only if the distributed ledger creates succinct
proofs of the valid state updates at the end of each epoch. Our model builds
upon and extends the Bitcoin backbone protocol by defining consistency and
scalability. Consistency encompasses the need for atomic execution of
cross-shard transactions to preserve safety, whereas scalability encapsulates
the speedup a sharded system can gain in comparison to a non-sharded system. We
introduce a protocol abstraction and highlight the sufficient components for
secure and efficient sharding in our model. In order to show the power of our
framework, we analyze the most prominent shared blockchains (Elastico,
Monoxide, OmniLedger, RapidChain) and pinpoint where they fail to meet the
desired properties
A Survey on Consensus Mechanisms and Mining Strategy Management in Blockchain Networks
© 2013 IEEE. The past decade has witnessed the rapid evolution in blockchain technologies, which has attracted tremendous interests from both the research communities and industries. The blockchain network was originated from the Internet financial sector as a decentralized, immutable ledger system for transactional data ordering. Nowadays, it is envisioned as a powerful backbone/framework for decentralized data processing and data-driven self-organization in flat, open-access networks. In particular, the plausible characteristics of decentralization, immutability, and self-organization are primarily owing to the unique decentralized consensus mechanisms introduced by blockchain networks. This survey is motivated by the lack of a comprehensive literature review on the development of decentralized consensus mechanisms in blockchain networks. In this paper, we provide a systematic vision of the organization of blockchain networks. By emphasizing the unique characteristics of decentralized consensus in blockchain networks, our in-depth review of the state-of-the-art consensus protocols is focused on both the perspective of distributed consensus system design and the perspective of incentive mechanism design. From a game-theoretic point of view, we also provide a thorough review of the strategy adopted for self-organization by the individual nodes in the blockchain backbone networks. Consequently, we provide a comprehensive survey of the emerging applications of blockchain networks in a broad area of telecommunication. We highlight our special interest in how the consensus mechanisms impact these applications. Finally, we discuss several open issues in the protocol design for blockchain consensus and the related potential research directions
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