Related papers: Scalable UTXO Smart Contracts via Fine-Grained Dis…
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…
This research critically analyses blockchain scaling solutions based on their ability to realistically balance the properties of the blockchain trilemma. We have concluded this research by outlining a gap in the current body of literature…
The main problem faced by smart contract platforms is the amount of time and computational power required to reach consensus. In a classical blockchain model, each operation is in fact performed by each node, both to update the status and…
Modern cryptocurrency systems, such as Ethereum, permit complex financial transactions through scripts called smart contracts. These smart contracts are executed many, many times, always without real concurrency. First, all smart contracts…
Blockchain platforms such as Ethereum and several others execute complex transactions in blocks through user-defined scripts known as smart contracts. To append a correct block into blockchain, miners execute these transactions of smart…
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,…
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…
The Unspent Transaction Output (UTXO) model is commonly used in the field of Distributed Ledger Technology (DLT) to transfer value between participants. One of its advantages is that it allows parallel processing of transactions, as…
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…
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…
Most blockchain platforms from Ethereum onwards render smart contracts as stateful reactive objects that update their state and transfer crypto-assets in response to transactions. A drawback of this design is that when users submit a…
Consensus protocols are currently the bottlenecks that prevent blockchain systems from scaling. However, we argue that transaction execution is also important to the performance and security of blockchains. In other words, there are ample…
Popular blockchains such as Ethereum and several others execute complex transactions in blocks through user-defined scripts known as smart contracts. Serial execution of smart contract transactions/atomic-units (AUs) fails to harness the…
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…
Parallel execution of smart contract transactions in large multicore architectures is critical for higher efficiency and improved throughput. The main bottleneck for maximizing the throughput of a node through parallel execution is…
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…
Although the emergence of the programmable smart contract makes blockchain systems easily embrace a wider range of industrial areas, how to execute smart contracts efficiently becomes a big challenge nowadays. Due to the existence of…
Modern blockchains support a variety of distributed applications beyond cryptocurrencies, including smart contracts -- which let users execute arbitrary code in a distributed and decentralized fashion. Regardless of their intended…
In this paper we discuss how conventional business contracts can be converted into smart contracts---their electronic equivalents that can be used to systematically monitor and enforce contractual rights, obligations and prohibitions at run…
Blockchain technology is booming up the digital world in recent days and thus paved a way for creating separate blockchain network for various industries. This technology is characterized by its distributed, decentralized, and immutable…