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Extending The Boundaries and Exploring The Limits Of Blockchain Compression

Abstract : Blockchain technology aims to replace traditional banking systems and manage the world's economic data. However, the long-term feasibility of blockchain technology is hindered by the inability of existing blockchain protocols to prune the consensus data leading to constantly growing storage and communication requirements. Kiayias et al. have proposed a blockchain protocol based on superblock Non-Interactive-Proofs-of-Proof-of-Work (NIPoPoWs) as a mechanism to reduce the storage and communication complexity of blockchains to O(polylog(n)). However, their protocol is only resilient to an adversary that may control strictly less than 1/3rd of the total computational power, which is a reduction from the security guaranteed by Bitcoin and other existing blockchain protocols that guarantee security against an adversary that may control strictly less than 1/2 of the total computational power. We present an improvement to the Kiayias et al. proposal termed Gems-scheme, which is resilient against an adversary that may control less than 1/2 of the total computational power while operating in O(polylog(n)) storage and communication complexity. Additionally, we present a novel proof that establishes a lower bound of O(log(n)) on the storage and communication complexity of any PoW-based blockchain protocol.
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Preprints, Working Papers, ...
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https://hal-cnrs.archives-ouvertes.fr/hal-03866741
Contributor : Emmanuelle Anceaume Connect in order to contact the contributor
Submitted on : Tuesday, November 22, 2022 - 9:30:13 PM
Last modification on : Thursday, November 24, 2022 - 4:07:24 AM

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  • HAL Id : hal-03866741, version 1

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Anurag Jain, Emmanuelle Anceaume, Sujit Gujar. Extending The Boundaries and Exploring The Limits Of Blockchain Compression. 2022. ⟨hal-03866741⟩

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