Proof of Previous Transactions (PoPT): An Efficient Approach to Consensus for JCLedger

Abstract

JCLedger is a BlockChain-based distributed ledger for JointCloud that can improve the reliability and convenience of cloud resource exchanges by empowering cooperation among multiple clouds. The biggest challenge for the implementation of JCLedger is the approach to consensus. The existing consensus algorithms for the public BlockChain, such as proof of work (PoW) or proof of stake (PoS) does not apply to the JointCloud, because they require a massive computing power with a low throughput or monopoly risk. In this paper, we propose a practical Byzantine-fault-tolerance (PBFT)-based consensus algorithm called proof of previous transactions (PoPT), in which the accountants are selected by a specific hash function from a certain number of candidates. The candidates are chosen according to the users' participation in JointCloud, and only candidates that join the PBFT-based consensus process instead of all users. We also propose a new BlockChain structure for parallel accounting to improve the scalability of JCLedger, and a consistent hashing algorithm is used to assign the transactions to different accountants. Simulation experiments show that the PoPT can shield the unequal computing power of the users to provide them equal accounting opportunities, and the parallel accounting can handle the massive and high-frequency transactions in JointCloud more efficiently.