Decentrally-Consented-Server-Based Blockchain System for Universal Types of Data

Abstract

The rapid increase of data makes the third party cloud storage more and more popular. However, decentralization, immutability, and integrity characteristics of Blockchain systems are making Blockchain systems another potential platform for data storage. Using the Blockchain system for data storage will eliminate the dependency on any central authority thus increasing the data security, privacy, data retention probability, and eliminate the single point of failure. Most of the Blockchain consensus mechanism have been developed over the decade are about storing the transactional data only. In this paper, we present a novel idea of the Blockchain consensus system for universal types of data. Our proposed consensus mechanism is designed in such a way that, most of the devices or entities can participate in the mechanism by doing low computational validation work. To add an extra layer of security we introduce a two-step validation process in this consensus mechanism. The probabilistic fair rotation of the block creator in our consensus mechanism will significantly reduce the probability of centralization which is a common issue in most of operating Blockchain consensus mechanism based on one user/group winning strategy. Moreover, we analyze our consensus mechanism using game theory and queuing theory.