Blockchain

A Scalable Consensus Protocol Based on Equity Representation

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  • 1. School of Information Science and Engineering, East China University of Science and Technology, Shanghai 200237, China;
    2. Hong Kong DAEX Blockchain Limited, Shanghai 200120, China

Received date: 2019-10-30

  Online published: 2020-01-19

Abstract

The difficulty in achieving dynamic balance of decentralization, security and scalability of blockchain systems lies in the design of efficient consensus mechanisms. In order to solve the bottleneck problem of security and performance faced by the consensus mechanisms in the existing blockchain systems, this paper proposes a delegate-based scalable consensus protocol (DSCP) based on equity representatives. First, DSCP uses the partition parallel consensus method to build a high-performance and scalable blockchain and generate a consensus block that is recognized by the entire network through a proxy mechanism. Then, in order to improve the network partition speed and the consensus performance during the partition, this paper proposes a fast partitioning mechanism based on VRF algorithm, and designs a voting-based partitioning high-performance consensus algorithm voting-based consensus protocol (VCP). At last, this paper also proposes a new incentive and deposit mechanism to enhance the security of the DSCP protocol. Experimental analysis shows that DSCP has a good performance advantage compared with the existing blockchain consensus protocols.

Cite this article

LI Zhongcheng, HUANG Jianhua, TANG Ruicong, HU Qingchun, XIA Xu . A Scalable Consensus Protocol Based on Equity Representation[J]. Journal of Applied Sciences, 2020 , 38(1) : 51 -64 . DOI: 10.3969/j.issn.0255-8297.2020.01.004

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