New instant confirmation mechanism based on interactive incontestable signature in consortium blockchain

Abstract

The blockchain is a radical innovation that has a considerable effect on payments, stock exchanges, cybersecurity, and computational law. However, its limitations in terms of the uncertainty involved in transaction confirmation are significant. In this paper, we describe the design of a decentralized voting protocol for the election of a block generator in a consortium blockchain and propose a new system framework that allows fast and exact confirmation of all transactions. In addition, to replace a transaction’s owner signature, a new interactive incontestable signature between the dealer and owner is used to confirm a transaction. By means of this signature, the dealer can assure the owner that a transaction will be permanently included in the blockchain in a non-repudiation manner. Moreover, the signatures of all transactions in a block share only one witness that provides membership proof between the block and these transactions. Finally, a security and performance analysis shows that the proposed schemes are provably secure and highly efficient.