Related papers: A theory of transaction parallelism in blockchains
The development of blockchain technologies has enabled the trustless execution of so-called smart contracts, i.e. programs that regulate the exchange of assets (e.g., cryptocurrency) between users. In a decentralized blockchain, the state…
Ethereum clients execute transactions in a sequential order prescribed by the consensus protocol. This is a safe and conservative approach to blockchain transaction processing which forgoes running transactions in parallel even when doing…
Traditional public blockchain systems typically had very limited transaction throughput because of the bottleneck of the consensus protocol itself. With recent advances in consensus technology, the performance limit has been greatly lifted,…
Inspired by Bitcoin, many different kinds of cryptocurrencies based on blockchain technology have turned up on the market. Due to the special structure of the blockchain, it has been deemed impossible to directly trade between traditional…
While blockchains initially gained popularity in the realm of cryptocurrencies, their widespread adoption is expanding beyond conventional applications, driven by the imperative need for enhanced data security. Despite providing a secure…
Today's blockchains suffer from low throughput and high latency, which impedes their widespread adoption of more complex applications like smart contracts. In this paper, we propose a novel paradigm for smart contract execution. It…
Blockchain offers a decentralized, immutable, transparent system of records. It offers a peer-to-peer network of nodes with no centralised governing entity making it unhackable and therefore, more secure than the traditional paper-based or…
As the number of decentralized applications and users on Ethereum grows, the ability of the blockchain to efficiently handle a growing number of transactions becomes increasingly strained. Ethereums current execution model relies heavily on…
Blockchains revolutionized centralized sectors like banking and finance by promoting decentralization and transparency. In a blockchain, information is transmitted through transactions issued by participants or applications. Miners…
Many classical blockchains are known to have an embarrassingly low transaction throughput, down to Bitcoin's notorious seven transactions per second limit.Various proposals and implementations for increasing throughput emerged in the first…
Contemporary blockchain such as Bitcoin and Ethereum execute transactions serially by miners and validators and determine the Proof-of-Work (PoW). Such serial execution is unable to exploit modern multi-core resources efficiently, hence…
Traditional blockchain design gives miners or validators full control over transaction ordering, i.e., they can freely choose which transactions to include or exclude, as well as in which order. While not an issue initially, the emergence…
Blockchain has many benefits including decentralization, availability, persistency, consistency, anonymity, auditability and accountability, and it also covers a wide spectrum of applications ranging from cryptocurrency, financial services,…
Modern blockchain systems are a fresh look at the paradigm of distributed computing, applied under assumptions of large-scale public networks. They can be used to store and share information without a trusted central party. There has been…
In peer-to-peer (P2P) energy trading, a secured infrastructure is required to manage trade and record monetary transactions. A central server/authority can be used for this. But there is a risk of central authority influencing the energy…
Many of the problems that arise in the context of blockchains and decentralized finance can be seen as variations on classical problems of distributed computing. The smart contract model proposed here is intended to capture both the…
The increasing adoption of blockchain technology has led to a growing demand for higher transaction throughput. Traditional blockchain platforms, such as Ethereum, execute transactions sequentially within each block, limiting scalability.…
Blockchain technology is ushering in another break-out year, the challenge of blockchain still remains to be solved. This paper analyzes the features of Bitcoin and Bitcoin-NG system based on blockchain, proposes an improved method of…
Decentralized Ledger Technology, popularized by the Bitcoin network, aims to keep track of a ledger of valid transactions between agents of a virtual economy without a central institution for coordination. In order to keep track of a…
Blockchain technology enables the execution of collaborative business processes involving untrusted parties without requiring a central authority. Specifically, a process model comprising tasks performed by multiple parties can be…