Xavier Boyen
Graphchain: A blockchain-free scalable decentralised ledger
Boyen, Xavier; Carr, Christopher; Haines, Thomas
Authors
Contributors
Satya V. Lokam
Editor
Sushmita Ruj
Editor
Kouichi Sakurai
Editor
Abstract
© 2018 Copyright held by the owner/author(s). Blockchain-based replicated ledgers, pioneered in Bitcoin, are effective against double spending, but inherently attract centralised mining pools and incompressible transaction delays. We propose a framework that forgoes blockchains, building a decentralised ledger as a self-scaling graph of cross-verifying transactions. New transactions validate prior ones, forming a thin graph secured by a cumulative proof-of-work mechanism giving fair and predictable rewards for each participant. We exhibit rapid confirmation of new transactions, even across a large network affected by latency. We also show, both theoretically and experimentally, a strong convergence property: that any valid transaction entering the system quickly become enshrined in the ancestry of all future transactions.
Citation
Boyen, X., Carr, C., & Haines, T. (2018). Graphchain: A blockchain-free scalable decentralised ledger. In S. V. Lokam, S. Ruj, & K. Sakurai (Eds.), https://doi.org/10.1145/3205230.3205235
Conference Name | BCC 2018 - Proceedings of the 2nd ACM Workshop on Blockchains, Cryptocurrencies, and Contracts, Co-located with ASIA CCS 2018 |
---|---|
Start Date | May 1, 2018 |
Acceptance Date | Jan 1, 2018 |
Publication Date | May 22, 2018 |
Deposit Date | Feb 25, 2020 |
Pages | 21-33 |
ISBN | 9781450357586 |
DOI | https://doi.org/10.1145/3205230.3205235 |
Public URL | https://uwe-repository.worktribe.com/output/5452594 |
Publisher URL | https://doi.org/10.1145/3205230.3205235 |
Related Public URLs | https://eprint.iacr.org/ |
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