Paper Info
Title
VAPOR: a Value-Centric Blockchain that is Scale-out, Decentralized, and Flexible by Design.
Abstract
Blockchains is a special type of distributed systems that operates in unsafe networks. In most blockchains, all nodes should reach consensus on all state transitions with Byzantine fault tolerant algorithms, which creates bottlenecks in performance. In this paper, we propose a new type of blockchains, namely Value-Centric Blockchains (VCBs), in which the states are specified as values (or more comprehensively, coins) with owners and the state transition records are then specified as proofs of the ownerships of individual values. We then formalize the "rational" assumptions that have been used in most blockchains. We further propose a VCB, VAPOR, that guarantees secure value transfers if all nodes are rational and keep the proofs of the values they owned, which is merely parts of the whole state transition record. As a result, we show that VAPOR enjoys significant benefits in throughput, decentralization, and flexibility without compromising security.
Year
DOI
Venue
2018
10.1007/978-3-030-32101-7_29
Lecture Notes in Computer Science
Keywords
Field
DocType
Blockchain,Distributed ledgers,Consensus algorithm,Scalability,Decentralization
Decentralization,Computer science,Byzantine fault tolerance,Mathematical proof,Blockchain,Throughput,Distributed computing,Scalability
Journal
Volume
ISSN
Citations 
11598
0302-9743
0
PageRank 
References 
Authors
0.34
0
2
Name
Order
Citations
PageRank
Zhijie Ren1376.23
Zekeriya Erkin257939.17