Sharding Blockchain
Invited conference paper presented and published in conference proceedings


Times Cited
Altmetrics Information
.

Other information
AbstractEver since the success of Bitcoin, blockchain technology has enabled countless decentralized applications. However, one major issue of blockchain is scalability. Taking Bitcoin as an example, its maximum transaction throughput is estimated to be less than 10 transactions per second, which is restricted by the constant block size and the constant average confirmation time per block of the Bitcoin blockchain. Some other cryptocurrencies that use similar blockchain technology, such as Ethereum and Bitcoin Cash, increase their throughput by enlarging these two constants. Yet, none of them achieves similar throughput of mainstream payment networks like Visa (over 1500 transaction/s) or Paypal (~200 transactions/s). A more serious problem is that we cannot increase these two parameters arbitrarily. Doing so may damage the underlying decentralized consensus protocol, as well as increase the cost of running full nodes. The performance bottleneck hinders blockchain's applicability, especially in resource-constrained platforms such as IoT.
All Author(s) ListSherman S.M. Chow, Ziliang Lai, Chris Liu, Eric Lo, Yongjun Zhao
Name of ConferenceIEEE International Congress on Cybermatics / IEEE Conferences on Internet of Things, Green Computing and Communications, Cyber, Physical and Social Computing, Smart Data, Blockchain, Computer and Information Technology
Start Date of Conference30/07/2018
End Date of Conference03/08/2018
Place of ConferenceHalifax
Country/Region of ConferenceCanada
Proceedings Title2018 IEEE International Congress on Cybermatics / IEEE Conferences on Internet of Things, Green Computing and Communications, Cyber, Physical and Social Computing, Smart Data, Blockchain, Computer and Information Technology
Year2018
Month8
PublisherIEEE
Pages1665 - 1665
ISBN978-1-5386-7976-0
eISBN978-1-5386-7975-3
LanguagesEnglish-United States
KeywordsBlockchain Protocols, Throughput, Bitcoin, Information security

Last updated on 2020-26-06 at 02:46