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A New Blockchain Design Decoupling Consensus Mechanisms from Transaction Management

  • Wei Tek Tsai
  • , Zimu Hu*
  • , Rong Wang
  • , Enyan Deng
  • , Dong Yang
  • *Corresponding author for this work
  • Arizona State University
  • Beijing Tiande Technologies
  • Beihang University

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

Abstract

In a traditional blockchain system, the consensus protocol and the transaction management are coupled, i.e., transactions are performed during the consensus process. When the consensus protocol completes its process, the transaction is considered as completed. Such an integrated approach challenges the system scalability and regulatory issues. And is not in line with the regulatory principles such as PFMI (Principles of Financial Market Infrastructures). This paper proposed a new decoupling mechanism that separates consensus protocols from transaction management, and further separate transactions from settlement with regulation compliance. Based on the new scheme, this paper proposed a new block-building protocol for blockchain systems. This protocol allows consensus steps, transaction management, settlement, and regulation compliance can be done concurrently.

Original languageEnglish
Title of host publicationSmart Computing and Communication - 7th International Conference, SmartCom 2022, Proceedings
EditorsMeikang Qiu, Zhihui Lu, Cheng Zhang
PublisherSpringer Science and Business Media Deutschland GmbH
Pages55-65
Number of pages11
ISBN (Print)9783031281235
DOIs
StatePublished - 2023
Event7th International Conference on Smart Computing and Communication, SmartCom 2022 - New York, United States
Duration: 18 Nov 202220 Nov 2022

Publication series

NameLecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
Volume13828 LNCS
ISSN (Print)0302-9743
ISSN (Electronic)1611-3349

Conference

Conference7th International Conference on Smart Computing and Communication, SmartCom 2022
Country/TerritoryUnited States
CityNew York
Period18/11/2220/11/22

Keywords

  • Block building method
  • Blockchain
  • Consensus and transaction decoupling
  • Consensus mechanism
  • Regulation

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