Hierarchical Multi-Blockchain System for Parallel Computation in Cryptocurrency Transfers and Smart Contracts
Most of the existing smart-contract-based cryptocurrencies, such as Ethereum, use an account-based ledger. However, while the account-based model is advantageous for the efficient use of smart contracts and the increased exchangeability of cryptocurrencies, it is not well-suited to the parallel exec...
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| Formato: | article |
| Lenguaje: | EN |
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MDPI AG
2021
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| Acceso en línea: | https://doaj.org/article/22b80ec63e6f406e8cc2363a5f6ed7a5 |
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| Sumario: | Most of the existing smart-contract-based cryptocurrencies, such as Ethereum, use an account-based ledger. However, while the account-based model is advantageous for the efficient use of smart contracts and the increased exchangeability of cryptocurrencies, it is not well-suited to the parallel execution of smart contracts. However, unspent transaction output (UTXO)-based cryptocurrencies such as Bitcoin are advantageous for parallel cryptocurrency transfers but not well-suited to smart contracts. In this paper, we propose a hierarchical multi-blockchain system that uses multiple pairs of sidechain and dual-sidechains extended by independent block mining in their blockchain networks and a <i>mainchain</i> to control the branching and connection process of sidechains and dual sidechains. In the proposed method, one pair of a sidechain and dual sidechain forms one shard. The proposed method uses multiple shards to execute cryptocurrency transfers and smart contracts in parallel. In addition, the proposed model uses an <i>accoutchain</i> to record the resulting state changes generated by smart contract executions in each shard and securely share them with all other nodes. The proposed method uses a modifiable blockchain structure for the accountchain to obtain the database to record the smart contract execution results in each shard in as small and secure a manner as possible to ensure that all nodes trust the recorded results without executing smart contracts themselves. To examine the validity of the proposed method, we conducted a threat analysis of the proposed method by examining possible attacks in various scenarios as a thought experiment. This threat analysis concludes that the proposed blockchain system can execute smart contracts in parallel while keeping the concurrency in resulting state changes secure. |
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