Prism Removes Consensus Bottleneck for Smart Contracts

Wang, Gerui; Wang, Shuo; Bagaria, Vivek Kumar; Tse, David; Viswanath, Pramod

doi:10.1109/cvcbt50464.2020.00011

Cited by 13 publications

(8 citation statements)

References 10 publications

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“…Smart contracts are not suitable for computationally intensive problems because the execution cost of transactions is proportional to their processing complexity [27,28].…”

Section: On-chain-based Solution For a 3-bus Network Using Dc-opf App...mentioning

confidence: 99%

Fully Decentralized, Cost-Effective Energy Demand Response Management System with a Smart Contracts-Based Optimal Power Flow Solution for Smart Grids

et al. 2022

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Recent advances in control, communication, and management systems, as well as the widespread use of renewable energy sources in homes, have led to the evolution of traditional power grids into smart grids, where passive consumers have become so-called prosumers that feed energy into the grid. On the other hand, the integration of blockchain into the smart grid has enabled the emergence of decentralized peer-to-peer (P2P) energy trading, where prosumers trade their energy as tokenized assets. Even though this new paradigm benefits both distribution grid operators and end users in many ways. Nevertheless, there is a conflict of interest between the two parties, as on the one hand, prosumers want to maximize their profit, while on the other hand, distribution system operators (DSOs) seek an optimal power flow (OPF) operating point. Due to the complexity of formulating and solving OPF problems in the presence of renewable energy sources, researchers have focused on mathematical modeling and effective solution algorithms for such optimization problems. However, the control of power generation according to a defined OPF solution is still based on centralized control and management units owned by the DSO. In this paper, we propose a novel, fully decentralized architecture for an OPF-based demand response management system that uses smart contracts to force generators to comply without the need for a central authority or hardware.

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“…Smart contracts are not suitable for computationally intensive problems because the execution cost of transactions is proportional to their processing complexity [27,28].…”

Section: On-chain-based Solution For a 3-bus Network Using Dc-opf App...mentioning

confidence: 99%

Fully Decentralized, Cost-Effective Energy Demand Response Management System with a Smart Contracts-Based Optimal Power Flow Solution for Smart Grids

et al. 2022

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“…This is no suprise given that each shard runs on separate machines and use distinct resources. Although sharding makes the implementation of cross-shard transactions quite complex, we could offer cross-shard transactions by decoupling these transactions into separate withdrawals an credits, as was previously suggested in Prism [85], for applications where the atomicity of transactions is not a requirement.…”

Section: G Linear Speedup With Shardingmentioning

confidence: 99%

“…PRISM [86] is a proof-of-work blockchain that shards the blockchain into m voter chains and exploits three types of blocks in a block tree. The voter blocks are used to vote for proposer blocks grouped per level in the block tree.…”

Section: Related Workmentioning

confidence: 99%

CollaChain: A BFT Collaborative Middleware for Decentralized Applications

Tennakoon¹,

Hua²,

Gramoli³

2022

Preprint

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The sharing economy is centralizing services, leading to misuses of the Internet: we can list growing damages of data hacks, global outages, and even uses of data to manipulate their owners. Unfortunately, there is no decentralized web where users can interact peer-to-peer in a secure way. Blockchains incentivize participants to individually validate every transaction and impose their block to the network. As a result, the validation of smart contract requests is computationally intensive while the agreement on a unique state does not make full use of the network.In this paper, we propose CollaChain, a new byzantine fault tolerant blockchain compatible with the largest ecosystem of DApps that leverages collaboration. First, the participants executing smart contracts collaborate to validate the transactions, hence halving the number of validations required by modern blockchains (e.g., Ethereum, Libra). Second, the participants in the consensus collaborate to combine their block proposal into a superblock, hence improving throughput as the system grows to hundreds of nodes. In addition, CollaChain offers the possibility to its users to interact securely with each other without downloading the blockchain, hence allowing interactions via mobile devices. CollaChain is effective at outperforming the Concord and Quorum blockchains and its throughput peaks at 4500 TPS under a Twitter DApp (Decentralized Application) workload. Finally, we demonstrate CollaChain's scalability by deploying it on 200 nodes located in 10 countries over 5 continents.

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“…In comparison, future blockchains are likely to experience other bottlenecks such as verifying cryptographic signatures over transactions and executing transactions before Strokkur's computational cost becomes the bottleneck. For example, a deployed implementation of the Ethereum transaction logic is computationally-bounded at 10,000 tps when executing simple payments [40]; a highlyoptimized implementation of the Bitcoin transaction logic is IO-bounded at 80,000 tps [41]. As we have demonstrated, Strokkur can support such a throughput using less than one CPU core on a commodity laptop.…”

Section: Computational Costmentioning

confidence: 99%

Coded Transaction Broadcasting for High-throughput Blockchains

Yang¹,

Gilad²,

Alizadeh³

2022

Preprint

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High-throughput blockchains require efficient transaction broadcast mechanisms that can deliver transactions to most network nodes with low bandwidth overhead and latency. Existing schemes coordinate transmissions across peers to avoid sending redundant data, but they either incur a high latency or are not robust against adversarial network nodes. We present Strokkur, a new transaction broadcasting mechanism that provides both low bandwidth overhead and low latency. The core idea behind Strokkur is to avoid explicit coordination through randomized transaction coding. Rather than forward individual transactions. Strokkur nodes send out codewords-XOR sums of multiple transactions selected at random. Since almost every codeword is useful for the receiver to decode new transactions, Strokkur nodes do not require coordination, for example, to determine which transactions the receiver is missing. Strokkur's coding strategy builds on LT codes, a popular class of rateless erasure codes, and extends them to support multiple uncoordinated senders with partially-overlapping continual streams of transaction data. Strokkur introduces mechanisms to cope with adversarial senders that may send corrupt codewords, and a simple rate control algorithm that enables each node to independently determine an appropriate sending rate of codewords for each peer. Our implementation of Strokkur in Golang supports 647k transactions per second using only one CPU core. Our evaluation across a 19-node Internet deployment and largescale simulation show that Strokkur consumes 2-7.6× less bandwidth than the existing scheme in Bitcoin, and 9× lower latency that Shrec when only 4% of nodes are adversarial.

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Prism Removes Consensus Bottleneck for Smart Contracts

Cited by 13 publications

References 10 publications

Fully Decentralized, Cost-Effective Energy Demand Response Management System with a Smart Contracts-Based Optimal Power Flow Solution for Smart Grids

Fully Decentralized, Cost-Effective Energy Demand Response Management System with a Smart Contracts-Based Optimal Power Flow Solution for Smart Grids

CollaChain: A BFT Collaborative Middleware for Decentralized Applications

Coded Transaction Broadcasting for High-throughput Blockchains

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