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A scalable verification solution for blockchains

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  • Jason Teutsch
  • Christian Reitwie{ss}ner

Abstract

Bitcoin and Ethereum, whose miners arguably collectively comprise the most powerful computational resource in the history of mankind, offer no more power for processing and verifying transactions than a typical smart phone. The system described herein bypasses this bottleneck and brings scalable computation to Ethereum. Our new system consists of a financial incentive layer atop a dispute resolution layer where the latter takes form of a versatile "verification game." In addition to secure outsourced computation, immediate applications include decentralized mining pools whose operator is an Ethereum smart contract, a cryptocurrency with scalable transaction throughput, and a trustless means for transferring currency between disjoint cryptocurrency systems.

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  • Jason Teutsch & Christian Reitwie{ss}ner, 2019. "A scalable verification solution for blockchains," Papers 1908.04756, arXiv.org.
    • Handle: RePEc:arx:papers:1908.04756
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    File URL: http://arxiv.org/pdf/1908.04756
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    1. ASCE Editors, 2013. "2013 Conference Program," Annual Proceedings, The Association for the Study of the Cuban Economy, vol. 23.
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    Cited by:

    1. Junho Kim & Mucheol Kim, 2021. "DeepBlockShield: Blockchain Agent-Based Secured Clinical Data Management Model from the Deep Web Environment," Mathematics, MDPI, vol. 9(9), pages 1-16, May.

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