A Scale-out Decentralized Blockchain Ledger System for Web3.0
- URL: http://arxiv.org/abs/2312.00281v1
- Date: Fri, 1 Dec 2023 01:34:48 GMT
- Title: A Scale-out Decentralized Blockchain Ledger System for Web3.0
- Authors: Lide Xue, Wei Yang, Wei Li,
- Abstract summary: This paper proposes EZchain -- a novel decentralized scale-out" ledger system designed for web3.0.
Without compromising security and decentralization, EZchain successfully accomplishes the following milestones.
- Score: 5.327844605578174
- License: http://creativecommons.org/licenses/by-nc-sa/4.0/
- Abstract: The development of underlying technologies in blockchain mostly revolves around a difficult problem: how to enhance the performance of the system and reduce various costs of nodes (such as communication, storage and verification) without compromising the system's security and decentralization. Various layer-1 and layer-2 protocols have provided excellent solutions for this challenge. However, they cannot yet be considered as a ``silver bullet". This paper proposes EZchain -- a novel decentralized ``scale-out" ledger system designed for web3.0, aiming to enable blockchain technology to truly support ledger applications in large-scale fully decentralized networks. Without compromising security and decentralization, EZchain successfully accomplishes the following milestones: 1) Scalability: The theoretical throughput of EZchain can be infinitely expanded, nearly unaffected by bandwidth and other resource constraints. 2) Consumer-Grade Hardware Compatibility: EZchain is designed to be compatible with consumer-grade hardware, supporting storage, computation, and verification requirements. 3) Efficient Transaction Confirmation: EZchain strives to maintain transaction confirmation delays within one minute. Our prototype experiment demonstrates that under typical daily bandwidth network conditions, EZchain's performance in all aspects approaches that of the accounts in centralized payment systems. This provides a solid infrastructure for realizing mobile payments in web3.0.
Related papers
- Advancing Blockchain Scalability: An Introduction to Layer 1 and Layer 2 Solutions [0.24578723416255752]
This paper examines the components of the Layer 1 protocol and the scale-up methods that directly improve the lower level blockchain.
Layer 1 solutions encounter inherent limitations although improvements were applied due to layer 1 storage costs and latency are high.
Our findings indicate that Layer 2 protocols, with their various implementations such as rollups and channels, significantly outperform Layer 1 solutions in terms of transaction throughput and efficiency.
arXiv Detail & Related papers (2024-06-19T21:30:16Z) - Should my Blockchain Learn to Drive? A Study of Hyperledger Fabric [14.834625066344586]
This paper explores the concept of self-driving blockchains, which have the potential to predict workload changes and reconfigure themselves for optimal performance without human intervention.
We identify specific parameters and components in Hyperledger Fabric, a popular permissioned blockchain system, that are suitable for autonomous adaptation and offer potential solutions for the challenges involved.
Our experiments indicate up to 11% improvement in success throughput and a 30% decrease in latency, making this a significant step towards implementing a fully autonomous blockchain system in the future.
arXiv Detail & Related papers (2024-06-10T14:33:59Z) - SoK: Public Blockchain Sharding [19.82054462793622]
This study provides a systemization of knowledge of public blockchain sharding.
It includes the core components of sharding systems, challenges, limitations, and mechanisms of the latest sharding protocols.
arXiv Detail & Related papers (2024-05-30T22:38:40Z) - IT Strategic alignment in the decentralized finance (DeFi): CBDC and digital currencies [49.1574468325115]
Decentralized finance (DeFi) is a disruptive-based financial infrastructure.
This paper seeks to answer two main questions 1) What are the common IT elements in the DeFi?
And 2) How the elements to the IT strategic alignment in DeFi?
arXiv Detail & Related papers (2024-05-17T10:19:20Z) - Blockchains for Internet of Things: Fundamentals, Applications, and Challenges [38.29453164670072]
Not every blockchain system is suitable for specific IoT applications.
Public blockchains are not suitable for storing sensitive data.
We explore the blockchain's application in three pivotal IoT areas: edge AI, communications, and healthcare.
arXiv Detail & Related papers (2024-05-08T04:25:57Z) - Enhancing Trust and Privacy in Distributed Networks: A Comprehensive Survey on Blockchain-based Federated Learning [51.13534069758711]
Decentralized approaches like blockchain offer a compelling solution by implementing a consensus mechanism among multiple entities.
Federated Learning (FL) enables participants to collaboratively train models while safeguarding data privacy.
This paper investigates the synergy between blockchain's security features and FL's privacy-preserving model training capabilities.
arXiv Detail & Related papers (2024-03-28T07:08:26Z) - Graph Attention Network-based Block Propagation with Optimal AoI and Reputation in Web 3.0 [59.94605620983965]
We design a Graph Attention Network (GAT)-based reliable block propagation optimization framework for blockchain-enabled Web 3.0.
To achieve the reliability of block propagation, we introduce a reputation mechanism based on the subjective logic model.
Considering that the GAT possesses the excellent ability to process graph-structured data, we utilize the GAT with reinforcement learning to obtain the optimal block propagation trajectory.
arXiv Detail & Related papers (2024-03-20T01:58:38Z) - chainBoost: A Secure Performance Booster for Blockchain-based Resource Markets [0.6383640665055312]
We propose chainBoost, a secure performance booster for decentralized resource markets.
It expedites service related operations, reduces the blockchain size, and supports flexible service-payment exchange modalities at low overhead.
We implement a proof-of-concept prototype for a distributed file storage market as a use case.
arXiv Detail & Related papers (2024-02-25T14:19:41Z) - Generative AI-enabled Blockchain Networks: Fundamentals, Applications,
and Case Study [73.87110604150315]
Generative Artificial Intelligence (GAI) has emerged as a promising solution to address challenges of blockchain technology.
In this paper, we first introduce GAI techniques, outline their applications, and discuss existing solutions for integrating GAI into blockchains.
arXiv Detail & Related papers (2024-01-28T10:46:17Z) - When Quantum Information Technologies Meet Blockchain in Web 3.0 [86.91054991998273]
We introduce a quantum blockchain-driven Web 3.0 framework that provides information-theoretic security for decentralized data transferring and payment transactions.
We discuss the potential applications and challenges of implementing quantum blockchain in Web 3.0.
arXiv Detail & Related papers (2022-11-29T05:38:42Z) - Regulation conform DLT-operable payment adapter based on trustless -
justified trust combined generalized state channels [77.34726150561087]
Economy of Things (EoT) will be based on software agents running on peer-to-peer trustless networks.
We give an overview of current solutions that differ in their fundamental values and technological possibilities.
We propose to combine the strengths of the crypto based, decentralized trustless elements with established and well regulated means of payment.
arXiv Detail & Related papers (2020-07-03T10:45:55Z)
This list is automatically generated from the titles and abstracts of the papers in this site.
This site does not guarantee the quality of this site (including all information) and is not responsible for any consequences.