Related papers: securePrune:Secure block pruning in UTXO based blo…
Popular cryptocurrencies continue to face serious scalability issues due to their ever-growing blockchains. Thus, modern blockchain designs began to prune old blocks and rely on recent snapshots for their bootstrapping processes instead.…
In this work, we propose a stateless blockchain called CompactChain, which compacts the entire state of the UTXO (Unspent Transaction Output) based blockchain systems into two RSA accumulators. The first accumulator is called Transaction…
Bitcoin was the first successful decentralized cryptocurrency and remains the most popular of its kind to this day. Despite the benefits of its blockchain, Bitcoin still faces serious scalability issues, most importantly its ever-increasing…
The Bitcoin protocol is a significant milestone in the history of money. However, its adoption is currently constrained by the transaction limits of the system. As the chief problem of blockchain technology, the scaling issue has attracted…
Bitcoin is the first successful decentralized global digital cash system. Its mining process requires intense computational resources, therefore its usefulness remains a disputable topic. We aim to solve three problems with Bitcoin and…
UTXO-based smart contract platforms face an efficiency bottleneck, in that any transaction sent to a contract must specify the entire updated contract state. This requirement becomes particularly burdensome when the contract state contains…
Increasing the transactional throughput of decentralized blockchains in a secure manner has been the holy grail of blockchain research for most of the past decade. This paper introduces a scheme for scaling blockchains while retaining…
This paper introduces a Machine Learning (ML) approach for scalability of UTXO-based blockchains, such as Bitcoin. Prior approaches to UTXO set sharding struggle with distributing UTXOs effectively across validators, creating substantial…
Blockchains have a storage scalability issue. Their size is not bounded and they grow indefinitely as time passes. As of August 2017, the Bitcoin blockchain is about 120 GiB big while it was only 75 GiB in August 2016. To benefit from…
Coin selection algorithms are a fundamental component of blockchain technology. In this paper, we present a comprehensive review of the existing coin selection algorithms utilized in unspent transaction output (UTXO)-based blockchains. We…
In Bitcoin and Ethereum, nodes require large storage capacity to maintain all the blockchain data, such as transactions, UTXOs, and account states. As of May 2020, the storage size of the Bitcoin blockchain has expanded to 270 GB, and it…
As ethereum blockchain has become popular, the number of users and transactions has skyrocketed, causing an explosive increase of its data size. As a result, ordinary clients using PCs or smartphones cannot easily bootstrap as a full node,…
Blockchain provides a decentralized and tamper-resistant ledger for securely recording transactions across a network of untrusted nodes. While its transparency and integrity are beneficial, the substantial storage requirements for…
Blockchain is a distributed ledger with wide applications. Due to the increasing storage requirement for blockchains, the computation can be afforded by only a few miners. Sharding has been proposed to scale blockchains so that storage and…
We design and validate new block propagation protocols for the peer-to-peer (P2P) network of the Bitcoin blockchain. Despite its strong protection for security and privacy, the current Bitcoin blockchain can only support a low number of…
Blockchain technologies are facing a scalability challenge, which must be overcome to guarantee a wider adoption of the technology. This scalability issue is due to the use of consensus algorithms to guarantee the total order of the chain…
Permissionless blockchains such as Bitcoin have long been criticized for their high computational and storage overhead. Unfortunately, while a number of proposals address the energy consumption of existing Proof-of-Work deployments, little…
Bitcoin is the cryptocurrency with the largest market capitalisation, but its widespread adoption is fundamentally limited by the scalability constraints of its consensus algorithm, which requires every transaction to be confirmed onchain.…
We argue that the current POW based consensus algorithm of the Bitcoin network suffers from a fundamental economic discrepancy between the real world transaction (txn) costs incurred by miners and the wealth that is being transacted. Put…
Turing-completeness of smart contract languages in blockchain systems is often associated with a variety of language features (such as loops). In opposite, we show that Turing-completeness of a blockchain system can be achieved through…