Abstract
In a traditional blockchain system, the consensus protocol and the transaction management are coupled, i.e., transactions are performed during the consensus process. When the consensus protocol completes its process, the transaction is considered as completed. Such an integrated approach challenges the system scalability and regulatory issues. And is not in line with the regulatory principles such as PFMI (Principles of Financial Market Infrastructures). This paper proposed a new decoupling mechanism that separates consensus protocols from transaction management, and further separate transactions from settlement with regulation compliance. Based on the new scheme, this paper proposed a new block-building protocol for blockchain systems. This protocol allows consensus steps, transaction management, settlement, and regulation compliance can be done concurrently.
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Acknowledgment
This work is supported by Chinese Ministry of Science and Technology (Grant No. 2018YFB1402700).
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Tsai, WT., Hu, Z., Wang, R., Deng, E., Yang, D. (2023). A New Blockchain Design Decoupling Consensus Mechanisms from Transaction Management. In: Qiu, M., Lu, Z., Zhang, C. (eds) Smart Computing and Communication. SmartCom 2022. Lecture Notes in Computer Science, vol 13828. Springer, Cham. https://doi.org/10.1007/978-3-031-28124-2_6
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DOI: https://doi.org/10.1007/978-3-031-28124-2_6
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