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On Scaling Decentralized Blockchains

(A Position Paper)
  • Kyle Croman
  • Christian DeckerEmail author
  • Ittay Eyal
  • Adem Efe Gencer
  • Ari Juels
  • Ahmed Kosba
  • Andrew Miller
  • Prateek Saxena
  • Elaine Shi
  • Emin Gün Sirer
  • Dawn Song
  • Roger Wattenhofer
Conference paper
Part of the Lecture Notes in Computer Science book series (LNCS, volume 9604)

Abstract

The increasing popularity of blockchain-based cryptocurrencies has made scalability a primary and urgent concern. We analyze how fundamental and circumstantial bottlenecks in Bitcoin limit the ability of its current peer-to-peer overlay network to support substantially higher throughputs and lower latencies. Our results suggest that reparameterization of block size and intervals should be viewed only as a first increment toward achieving next-generation, high-load blockchain protocols, and major advances will additionally require a basic rethinking of technical approaches. We offer a structured perspective on the design space for such approaches. Within this perspective, we enumerate and briefly discuss a number of recently proposed protocol ideas and offer several new ideas and open challenges.

Keywords

Block Size Overlay Network Maximum Throughput Network Plane Effective Throughput 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Notes

Acknowledgements

This work is supported in part by NSF grants CNS-1314857, CNS-1453634, CNS-1518765, CNS-1514261, CNS-1518899, a Packard Fellowship, a Sloan Fellowship, two Google Faculty Research Awards, and a VMWare Research Award.

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Copyright information

© International Financial Cryptography Association 2016

Authors and Affiliations

  • Kyle Croman
    • 1
    • 2
  • Christian Decker
    • 5
    Email author
  • Ittay Eyal
    • 1
    • 2
  • Adem Efe Gencer
    • 1
    • 2
  • Ari Juels
    • 1
    • 3
  • Ahmed Kosba
    • 1
    • 4
  • Andrew Miller
    • 1
    • 4
  • Prateek Saxena
    • 7
  • Elaine Shi
    • 1
    • 2
  • Emin Gün Sirer
    • 1
    • 2
  • Dawn Song
    • 1
    • 6
  • Roger Wattenhofer
    • 5
  1. 1.Initiative for CryptoCurrencies and Contracts (IC3)IthacaUSA
  2. 2.Cornell UniversityIthacaUSA
  3. 3.Jacobs, Cornell TechNew YorkUSA
  4. 4.UMDCollege ParkUSA
  5. 5.ETHZürichSwitzerland
  6. 6.UC BerkeleyBerkeleyUSA
  7. 7.NUSSingaporeSingapore

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