Permissioned public blockchain with high performance

Abstract

The existing blockchain can be mainly divided into public blockchain and consortium blockchain. The idea of blockchain originates from public blockchain. However, there are two defects in the existing public blockchain system: anonymous account is difficult to correspond with the real world, and system execution efficiency is low. At the same time, the consortium blockchain suffers from poor privacy and information security. In view of these problems, especially the problems of public blockchain, we design and develop a high performance permissioned public blockchain (PPC). We propose an on-chain cryptography registration scheme, which establishes a private mapping between the real-world entity and blockchain address. We also propose three novel techniques, i.e., the subscibable layer-2 contract, fast block propagation, and optimized structured broadcast protocol, to significantly improve the transaction speed. Therefore, the license mechanism of consortium blockchain and public chain technologies are combined and can be used by public users. As a result, the proposed permissioned public blockchain not only establishes the security privacy correspondence between individuals and accounts, but also has a flexible and efficient new architecture, which can support various applications to all customers, especially for the financial services and the supervision therein.