DEXON: A Highly Scalable, Decentralized DAG-Based Consensus Algorithm

A blockchain system is a replicated state machine that must be fault tolerant. When designing a blockchain system, there is usually a trade-off between decentralization, scalability, and security. In this paper, we propose a novel blockchain system, DEXON, which achieves high scalability while remai...

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Bibliographic Details
Published in:arXiv.org 2018-11
Main Authors: Tai-Yuan, Chen, Wei-Ning, Huang, Po-Chun Kuo, Chung, Hao, Tzu-Wei Chao
Format: Article
Language:English
Subjects:
Algorithms
Blockchain
Cryptography
Data structures
Fault tolerance
State machines
Online Access:Get full text
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Summary:A blockchain system is a replicated state machine that must be fault tolerant. When designing a blockchain system, there is usually a trade-off between decentralization, scalability, and security. In this paper, we propose a novel blockchain system, DEXON, which achieves high scalability while remaining decentralized and robust in the real-world environment. We have two main contributions. First, we present a highly scalable sharding framework for blockchain. This framework takes an arbitrary number of single chains and transforms them into the \textit{blocklattice} data structure, enabling \textit{high scalability} and \textit{low transaction confirmation latency} with asymptotically optimal communication overhead. Second, we propose a single-chain protocol based on our novel verifiable random function and a new Byzantine agreement that achieves high decentralization and low latency.
ISSN:2331-8422