A scalable verification solution for blockchains

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 com...

Full description

Saved in:
Bibliographic Details
Published in:arXiv.org 2019-08
Main Authors: Teutsch, Jason, Reitwießner, Christian
Format: Article
Language:English
Subjects:
Computation
Digital currencies
Miners
Program verification (computers)
Smartphones
Transaction processing
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
cited_by
cites
container_end_page
container_issue
container_start_page
container_title arXiv.org
container_volume
creator Teutsch, Jason
Reitwießner, Christian
description 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.
format article
fullrecord <record><control><sourceid>proquest</sourceid><recordid>TN_cdi_proquest_journals_2273029515</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><sourcerecordid>2273029515</sourcerecordid><originalsourceid>FETCH-proquest_journals_22730295153</originalsourceid><addsrcrecordid>eNpjYuA0MjY21LUwMTLiYOAtLs4yMDAwMjM3MjU15mQwcFQoTk7MSUzKSVUoSy3KTMtMTizJzM9TKM7PKQUz0vKLFJJy8pOzkzMSM_OKeRhY0xJzilN5oTQ3g7Kba4izh25BUX5haWpxSXxWfmlRHlAq3sjI3NjAyNLU0NSYOFUAhKMzXQ</addsrcrecordid><sourcetype>Aggregation Database</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype><pqid>2273029515</pqid></control><display><type>article</type><title>A scalable verification solution for blockchains</title><source>Publicly Available Content (ProQuest)</source><creator>Teutsch, Jason ; Reitwießner, Christian</creator><creatorcontrib>Teutsch, Jason ; Reitwießner, Christian</creatorcontrib><description>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.</description><identifier>EISSN: 2331-8422</identifier><language>eng</language><publisher>Ithaca: Cornell University Library, arXiv.org</publisher><subject>Computation ; Digital currencies ; Miners ; Program verification (computers) ; Smartphones ; Transaction processing</subject><ispartof>arXiv.org, 2019-08</ispartof><rights>2019. This work is published under http://arxiv.org/licenses/nonexclusive-distrib/1.0/ (the “License”). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License.</rights><oa>free_for_read</oa><woscitedreferencessubscribed>false</woscitedreferencessubscribed></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktohtml>$$Uhttps://www.proquest.com/docview/2273029515?pq-origsite=primo$$EHTML$$P50$$Gproquest$$Hfree_for_read</linktohtml><link.rule.ids>780,784,25752,37011,44589</link.rule.ids></links><search><creatorcontrib>Teutsch, Jason</creatorcontrib><creatorcontrib>Reitwießner, Christian</creatorcontrib><title>A scalable verification solution for blockchains</title><title>arXiv.org</title><description>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.</description><subject>Computation</subject><subject>Digital currencies</subject><subject>Miners</subject><subject>Program verification (computers)</subject><subject>Smartphones</subject><subject>Transaction processing</subject><issn>2331-8422</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2019</creationdate><recordtype>article</recordtype><sourceid>PIMPY</sourceid><recordid>eNpjYuA0MjY21LUwMTLiYOAtLs4yMDAwMjM3MjU15mQwcFQoTk7MSUzKSVUoSy3KTMtMTizJzM9TKM7PKQUz0vKLFJJy8pOzkzMSM_OKeRhY0xJzilN5oTQ3g7Kba4izh25BUX5haWpxSXxWfmlRHlAq3sjI3NjAyNLU0NSYOFUAhKMzXQ</recordid><startdate>20190812</startdate><enddate>20190812</enddate><creator>Teutsch, Jason</creator><creator>Reitwießner, Christian</creator><general>Cornell University Library, arXiv.org</general><scope>8FE</scope><scope>8FG</scope><scope>ABJCF</scope><scope>ABUWG</scope><scope>AFKRA</scope><scope>AZQEC</scope><scope>BENPR</scope><scope>BGLVJ</scope><scope>CCPQU</scope><scope>DWQXO</scope><scope>HCIFZ</scope><scope>L6V</scope><scope>M7S</scope><scope>PIMPY</scope><scope>PQEST</scope><scope>PQQKQ</scope><scope>PQUKI</scope><scope>PRINS</scope><scope>PTHSS</scope></search><sort><creationdate>20190812</creationdate><title>A scalable verification solution for blockchains</title><author>Teutsch, Jason ; Reitwießner, Christian</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-proquest_journals_22730295153</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2019</creationdate><topic>Computation</topic><topic>Digital currencies</topic><topic>Miners</topic><topic>Program verification (computers)</topic><topic>Smartphones</topic><topic>Transaction processing</topic><toplevel>online_resources</toplevel><creatorcontrib>Teutsch, Jason</creatorcontrib><creatorcontrib>Reitwießner, Christian</creatorcontrib><collection>ProQuest SciTech Collection</collection><collection>ProQuest Technology Collection</collection><collection>Materials Science &amp; Engineering Collection</collection><collection>ProQuest Central (Alumni)</collection><collection>ProQuest Central</collection><collection>ProQuest Central Essentials</collection><collection>AUTh Library subscriptions: ProQuest Central</collection><collection>Technology Collection</collection><collection>ProQuest One Community College</collection><collection>ProQuest Central Korea</collection><collection>SciTech Premium Collection</collection><collection>ProQuest Engineering Collection</collection><collection>Engineering Database</collection><collection>Publicly Available Content (ProQuest)</collection><collection>ProQuest One Academic Eastern Edition (DO NOT USE)</collection><collection>ProQuest One Academic</collection><collection>ProQuest One Academic UKI Edition</collection><collection>ProQuest Central China</collection><collection>Engineering Collection</collection></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Teutsch, Jason</au><au>Reitwießner, Christian</au><format>book</format><genre>document</genre><ristype>GEN</ristype><atitle>A scalable verification solution for blockchains</atitle><jtitle>arXiv.org</jtitle><date>2019-08-12</date><risdate>2019</risdate><eissn>2331-8422</eissn><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.</abstract><cop>Ithaca</cop><pub>Cornell University Library, arXiv.org</pub><oa>free_for_read</oa></addata></record>
fulltext fulltext
identifier EISSN: 2331-8422
ispartof arXiv.org, 2019-08
issn 2331-8422
language eng
recordid cdi_proquest_journals_2273029515
source Publicly Available Content (ProQuest)
subjects Computation
Digital currencies
Miners
Program verification (computers)
Smartphones
Transaction processing
title A scalable verification solution for blockchains
url http://sfxeu10.hosted.exlibrisgroup.com/loughborough?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2025-01-09T02%3A55%3A54IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-proquest&rft_val_fmt=info:ofi/fmt:kev:mtx:book&rft.genre=document&rft.atitle=A%20scalable%20verification%20solution%20for%20blockchains&rft.jtitle=arXiv.org&rft.au=Teutsch,%20Jason&rft.date=2019-08-12&rft.eissn=2331-8422&rft_id=info:doi/&rft_dat=%3Cproquest%3E2273029515%3C/proquest%3E%3Cgrp_id%3Ecdi_FETCH-proquest_journals_22730295153%3C/grp_id%3E%3Coa%3E%3C/oa%3E%3Curl%3E%3C/url%3E&rft_id=info:oai/&rft_pqid=2273029515&rft_id=info:pmid/&rfr_iscdi=true