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2019 | OriginalPaper | Buchkapitel

VAPOR: A Value-Centric Blockchain that is Scale-out, Decentralized, and Flexible by Design

verfasst von : Zhijie Ren, Zekeriya Erkin

Erschienen in: Financial Cryptography and Data Security

Verlag: Springer International Publishing

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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.

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Vorheriges Kapitel Bitcoin Security Under Temporary Dishonest Majority

Nächstes Kapitel Sprites and State Channels: Payment Networks that Go Faster Than Lightning

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Titel: VAPOR: A Value-Centric Blockchain that is Scale-out, Decentralized, and Flexible by Design
verfasst von: Zhijie Ren
Zekeriya Erkin
Verlag: Springer International Publishing
Buch: Financial Cryptography and Data Security
Print ISBN: 978-3-030-32100-0

Electronic ISBN: 978-3-030-32101-7

Copyright-Jahr: 2019
DOI: https://doi.org/10.1007/978-3-030-32101-7_29

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