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Improving Transaction Speed and Scalability of Blockchain Systems via Parallel Proof of Work

Author

Listed:
  • Shihab Shahriar Hazari

    (Department of Electrical, Computer and Software Engineering, Ontario Tech University, Oshawa, ON L1G 0C5, Canada)

  • Qusay H. Mahmoud

    (Department of Electrical, Computer and Software Engineering, Ontario Tech University, Oshawa, ON L1G 0C5, Canada)

Abstract

A blockchain is a distributed ledger forming a distributed consensus on a history of transactions, and is the underlying technology for the Bitcoin cryptocurrency. Its applications are far beyond the financial sector. The transaction verification process for cryptocurrencies is much slower than traditional digital transaction systems. One approach to scalability or the speed at which transactions are processed is to design a solution that offers faster Proof of Work. In this paper, we propose a method for accelerating the process of Proof of Work based on parallel mining rather than solo mining. The goal is to ensure that no more than two or more miners put the same effort into solving a specific block. The proposed method includes a process for selection of a manager, distribution of work and a reward system. This method has been implemented in a test environment that contains all the characteristics needed to perform Proof of Work for Bitcoin and has been tested, using a variety of case scenarios, by varying the difficulty level and number of validators. Experimental evaluations were performed locally and in a cloud environment, and experimental results demonstrate the feasibility the proposed method.

Suggested Citation

  • Shihab Shahriar Hazari & Qusay H. Mahmoud, 2020. "Improving Transaction Speed and Scalability of Blockchain Systems via Parallel Proof of Work," Future Internet, MDPI, vol. 12(8), pages 1-19, July.
    • Handle: RePEc:gam:jftint:v:12:y:2020:i:8:p:125-:d:390324
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    Citations

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    Cited by:

    1. Hani Alshahrani & Noman Islam & Darakhshan Syed & Adel Sulaiman & Mana Saleh Al Reshan & Khairan Rajab & Asadullah Shaikh & Jaweed Shuja-Uddin & Aadar Soomro, 2023. "Sustainability in Blockchain: A Systematic Literature Review on Scalability and Power Consumption Issues," Energies, MDPI, vol. 16(3), pages 1-24, February.
    2. Uttam Ghosh & Deepak Tosh & Nawab Muhammad Faseeh Qureshi & Ali Kashif Bashir & Al-Sakib Khan Pathan & Zhaolong Ning, 2022. "Cyber-Physical Systems: Prospects, Challenges and Role in Software-Defined Networking and Blockchains," Future Internet, MDPI, vol. 14(12), pages 1-2, December.
    3. Abdulaziz Aldribi & Aman Singh, 2022. "Blockchain Empowered Smart Home: A Scalable Architecture for Sustainable Smart Cities," Mathematics, MDPI, vol. 10(14), pages 1-22, July.
    4. Oskar Juszczyk & Khuram Shahzad, 2022. "Blockchain Technology for Renewable Energy: Principles, Applications and Prospects," Energies, MDPI, vol. 15(13), pages 1-24, June.

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