IDEAS home Printed from https://ideas.repec.org/a/gam/jftint/v12y2020i8p125-d390324.html
   My bibliography  Save this article

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
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1999-5903/12/8/125/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1999-5903/12/8/125/
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. 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.
    2. 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.
    3. 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.
    4. Oskar Juszczyk & Khuram Shahzad, 2022. "Blockchain Technology for Renewable Energy: Principles, Applications and Prospects," Energies, MDPI, vol. 15(13), pages 1-24, June.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jftint:v:12:y:2020:i:8:p:125-:d:390324. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.