5 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