A Scale-out Blockchain for Value Transfer with Spontaneous Sharding

Zhijie Ren, Kelong Cong, Taico V. Aerts, Bart A.P. de Jonge, Alejandro F. Morais, Zekeriya Erkin

Research output: Chapter in Book/Conference proceedings/Edited volumeChapterScientificpeer-review

6 Citations (Scopus)

Abstract

Bitcoin, as well as many of its successors, require the whole transaction record to be reliably acquired by all nodes to prevent double-spending. Recently, many blockchains have been proposed to achieve scale-out throughput by letting nodes only acquire a fraction of the whole transaction set. However, these
schemes, e.g., sharding and off-chain techniques, suffer from a degradation in decentralization or the capacity of fault tolerance. In this paper, we show that the complete set of transactions is not a necessity for the prevention of double-spending if the properties of value transfers is fully explored. In other words, we show that a value-transfer ledger like Bitcoin has the potential to scale-out by its nature without sacrificing security or decentralization. Firstly, we give a formal definition for the value-transfer ledger and its distinct features from a generic
database. Then, we introduce the blockchain structure with a shared main chain for consensus and an individual chain for each node for recording transactions. A locally executable validation scheme is proposed with uncompromising validity and consistency. A beneficial consequence of our design is that nodes will spontaneously try to reduce their transmission cost by only providing the transactions needed to show that their transactions are not double spend. As a result, the network is sharded as each node only acquires part of the transaction record and a scale-out throughput could be achieved, which we call “spontaneous
sharding”.
Original languageEnglish
Title of host publicationProceedings - 2018 Crypto Valley Conference on Blockchain Technology, CVCBT 2018
Place of PublicationLos Alamitos, CA
PublisherIEEE
Pages1-10
Number of pages10
ISBN (Electronic)978-1-5386-7204-4
DOIs
Publication statusPublished - 2018
EventCrypto Valley Conference on Blockchain Technology 2018, CVCBT 2018 - Zug Casino, Zug, Switzerland
Duration: 20 Jun 201822 Jun 2018
Conference number: 1
https://cryptovalley.swiss/event/crypto-valley-conference-2018/

Conference

ConferenceCrypto Valley Conference on Blockchain Technology 2018, CVCBT 2018
Abbreviated titleCVCBT 2018
CountrySwitzerland
CityZug
Period20/06/1822/06/18
Internet address

Keywords

  • Blockchain
  • Scale out
  • Off chain
  • Scalability
  • Sharding

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