Velocity

Scalability Improvements in Block Propagation Through Rateless Erasure Coding

Nakul Chawla, Hans Walter Behrens, Darren Tapp, Dragan Boscovic, Kasim Candan

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

Blockchain technology and other distributed ledger systems fill an important role in resilient data storage and publication. However, their normally-decentralized methods also bring unique challenges distinct from more traditional approaches. One lies in the replication of data between participating nodes; since no individual node is more trusted than any other, each node maintains its own copy of the entire ledger for the purposes of validating new transactions. Improving how this information is stored and more importantly, how it propagates across the network, are open research questions. In this work, we propose Velocity, a novel block propagation approach based on fountain codes, allowing for better decentralized delivery of blocks and reduced network bottlenecks without sacrificing the security guarantees of the blockchain ledger itself. We also provide an assessment of economic incentives and their impact on participant behavior, showing that the proposed approach is financially beneficial to rational actors. We conclude by showing experimentally that this approach permits for the mining of even larger blocks, thereby increasing transaction throughput of the system compared to existing state of the art methods.

Original languageEnglish (US)
Title of host publicationICBC 2019 - IEEE International Conference on Blockchain and Cryptocurrency
PublisherInstitute of Electrical and Electronics Engineers Inc.
Pages447-454
Number of pages8
ISBN (Electronic)9781728113289
DOIs
StatePublished - May 1 2019
Event1st IEEE International Conference on Blockchain and Cryptocurrency, ICBC 2019 - Seoul, Korea, Republic of
Duration: May 14 2019May 17 2019

Publication series

NameICBC 2019 - IEEE International Conference on Blockchain and Cryptocurrency

Conference

Conference1st IEEE International Conference on Blockchain and Cryptocurrency, ICBC 2019
CountryKorea, Republic of
CitySeoul
Period5/14/195/17/19

Fingerprint

Fountains
Scalability
Throughput
Data storage equipment
Economics
Propagation
Node

Keywords

  • cryptography
  • data transfer
  • online banking
  • protocols

ASJC Scopus subject areas

  • Business, Management and Accounting (miscellaneous)
  • Management of Technology and Innovation
  • Computer Networks and Communications
  • Information Systems and Management
  • Safety, Risk, Reliability and Quality

Cite this

Chawla, N., Behrens, H. W., Tapp, D., Boscovic, D., & Candan, K. (2019). Velocity: Scalability Improvements in Block Propagation Through Rateless Erasure Coding. In ICBC 2019 - IEEE International Conference on Blockchain and Cryptocurrency (pp. 447-454). [8751427] (ICBC 2019 - IEEE International Conference on Blockchain and Cryptocurrency). Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/BLOC.2019.8751427

Velocity : Scalability Improvements in Block Propagation Through Rateless Erasure Coding. / Chawla, Nakul; Behrens, Hans Walter; Tapp, Darren; Boscovic, Dragan; Candan, Kasim.

ICBC 2019 - IEEE International Conference on Blockchain and Cryptocurrency. Institute of Electrical and Electronics Engineers Inc., 2019. p. 447-454 8751427 (ICBC 2019 - IEEE International Conference on Blockchain and Cryptocurrency).

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Chawla, N, Behrens, HW, Tapp, D, Boscovic, D & Candan, K 2019, Velocity: Scalability Improvements in Block Propagation Through Rateless Erasure Coding. in ICBC 2019 - IEEE International Conference on Blockchain and Cryptocurrency., 8751427, ICBC 2019 - IEEE International Conference on Blockchain and Cryptocurrency, Institute of Electrical and Electronics Engineers Inc., pp. 447-454, 1st IEEE International Conference on Blockchain and Cryptocurrency, ICBC 2019, Seoul, Korea, Republic of, 5/14/19. https://doi.org/10.1109/BLOC.2019.8751427
Chawla N, Behrens HW, Tapp D, Boscovic D, Candan K. Velocity: Scalability Improvements in Block Propagation Through Rateless Erasure Coding. In ICBC 2019 - IEEE International Conference on Blockchain and Cryptocurrency. Institute of Electrical and Electronics Engineers Inc. 2019. p. 447-454. 8751427. (ICBC 2019 - IEEE International Conference on Blockchain and Cryptocurrency). https://doi.org/10.1109/BLOC.2019.8751427
Chawla, Nakul ; Behrens, Hans Walter ; Tapp, Darren ; Boscovic, Dragan ; Candan, Kasim. / Velocity : Scalability Improvements in Block Propagation Through Rateless Erasure Coding. ICBC 2019 - IEEE International Conference on Blockchain and Cryptocurrency. Institute of Electrical and Electronics Engineers Inc., 2019. pp. 447-454 (ICBC 2019 - IEEE International Conference on Blockchain and Cryptocurrency).
@inproceedings{5b324b03710c453eb41ee449bd01e1bd,
title = "Velocity: Scalability Improvements in Block Propagation Through Rateless Erasure Coding",
abstract = "Blockchain technology and other distributed ledger systems fill an important role in resilient data storage and publication. However, their normally-decentralized methods also bring unique challenges distinct from more traditional approaches. One lies in the replication of data between participating nodes; since no individual node is more trusted than any other, each node maintains its own copy of the entire ledger for the purposes of validating new transactions. Improving how this information is stored and more importantly, how it propagates across the network, are open research questions. In this work, we propose Velocity, a novel block propagation approach based on fountain codes, allowing for better decentralized delivery of blocks and reduced network bottlenecks without sacrificing the security guarantees of the blockchain ledger itself. We also provide an assessment of economic incentives and their impact on participant behavior, showing that the proposed approach is financially beneficial to rational actors. We conclude by showing experimentally that this approach permits for the mining of even larger blocks, thereby increasing transaction throughput of the system compared to existing state of the art methods.",
keywords = "cryptography, data transfer, online banking, protocols",
author = "Nakul Chawla and Behrens, {Hans Walter} and Darren Tapp and Dragan Boscovic and Kasim Candan",
year = "2019",
month = "5",
day = "1",
doi = "10.1109/BLOC.2019.8751427",
language = "English (US)",
series = "ICBC 2019 - IEEE International Conference on Blockchain and Cryptocurrency",
publisher = "Institute of Electrical and Electronics Engineers Inc.",
pages = "447--454",
booktitle = "ICBC 2019 - IEEE International Conference on Blockchain and Cryptocurrency",

}

TY - GEN

T1 - Velocity

T2 - Scalability Improvements in Block Propagation Through Rateless Erasure Coding

AU - Chawla, Nakul

AU - Behrens, Hans Walter

AU - Tapp, Darren

AU - Boscovic, Dragan

AU - Candan, Kasim

PY - 2019/5/1

Y1 - 2019/5/1

N2 - Blockchain technology and other distributed ledger systems fill an important role in resilient data storage and publication. However, their normally-decentralized methods also bring unique challenges distinct from more traditional approaches. One lies in the replication of data between participating nodes; since no individual node is more trusted than any other, each node maintains its own copy of the entire ledger for the purposes of validating new transactions. Improving how this information is stored and more importantly, how it propagates across the network, are open research questions. In this work, we propose Velocity, a novel block propagation approach based on fountain codes, allowing for better decentralized delivery of blocks and reduced network bottlenecks without sacrificing the security guarantees of the blockchain ledger itself. We also provide an assessment of economic incentives and their impact on participant behavior, showing that the proposed approach is financially beneficial to rational actors. We conclude by showing experimentally that this approach permits for the mining of even larger blocks, thereby increasing transaction throughput of the system compared to existing state of the art methods.

AB - Blockchain technology and other distributed ledger systems fill an important role in resilient data storage and publication. However, their normally-decentralized methods also bring unique challenges distinct from more traditional approaches. One lies in the replication of data between participating nodes; since no individual node is more trusted than any other, each node maintains its own copy of the entire ledger for the purposes of validating new transactions. Improving how this information is stored and more importantly, how it propagates across the network, are open research questions. In this work, we propose Velocity, a novel block propagation approach based on fountain codes, allowing for better decentralized delivery of blocks and reduced network bottlenecks without sacrificing the security guarantees of the blockchain ledger itself. We also provide an assessment of economic incentives and their impact on participant behavior, showing that the proposed approach is financially beneficial to rational actors. We conclude by showing experimentally that this approach permits for the mining of even larger blocks, thereby increasing transaction throughput of the system compared to existing state of the art methods.

KW - cryptography

KW - data transfer

KW - online banking

KW - protocols

UR - http://www.scopus.com/inward/record.url?scp=85069201161&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=85069201161&partnerID=8YFLogxK

U2 - 10.1109/BLOC.2019.8751427

DO - 10.1109/BLOC.2019.8751427

M3 - Conference contribution

T3 - ICBC 2019 - IEEE International Conference on Blockchain and Cryptocurrency

SP - 447

EP - 454

BT - ICBC 2019 - IEEE International Conference on Blockchain and Cryptocurrency

PB - Institute of Electrical and Electronics Engineers Inc.

ER -