Scalable and fault-tolerant selection method of verification and accounting nodes for permissionless blockchain

Abstract

The transaction processing mode of the permissionless blockchain with the PoW protocol is to generate transaction block through network-wide competition and perform transaction verification by all the nodes jointly, resulting in wasted computing power resources and low throughput as bottlenecks for its application in industrial fields with high-frequency transactions. In order to enhance the transaction processing performance of the blockchain system and meet the actual security requirements, we propose a scalable and fault-tolerant selection method of verification and accounting nodes. Firstly, combined with the advantages of PoW, we apply the computationally difficult problem in the selection method of the verification set, which can fully utilize computing resources and ensure the efficiency of transaction verification. Afterwards, a fault-tolerant selection method of accounting node is designed by constructing the verifiable random number using threshold signature, which can ensure the robust operation of the system in the presence of malicious nodes. The newly developed method has the following advantages: it has fault-tolerant characteristics; the method can be applied to systems with Byzantine or non-Byzantine errors, and is appropriate for practical application scenarios. It has compatibility, the method can be seamlessly integrated into Byzantine fault tolerance, crash tolerance, threshold voting and other consensus protocols to improve the performance of the protocol. It has versatility, the method can be applied to both single blockchains and sharding blockchains to demonstrate its versatility and flexibility. Finally, the results of the security analysis and experiment show the method is of superiority and effectiveness.