Download here : Bitcoin-NG: A Scalable Blockchain Protocol
This paper is included in the Proceedings of the 13th USENIX Symposium on Networked Systems Design and Implementation (NSDI ’16).March 16–18, 2016 • Santa Clara, CA, USA
ISBN 978-1-931971-29-4
Open access to the Proceedings of the 13th USENIX Symposium on Networked Systems Design and Implementation (NSDI ’16) is sponsored by USENIX.
Extract from Abstract of this paper
Cryptocurrencies, based on and led by Bitcoin, have shown promise as infrastructure for pseudonymous on-line payments, cheap remittance, trustless digital as-set exchange, and smart contracts. However, Bitcoin-derived blockchain protocols have inherent scalability limits that trade off between throughput and latency,which withhold the realization of this potential.This paper presents Bitcoin-NG (Next Generation), a new blockchain protocol designed to scale. Bitcoin-NG is a Byzantine fault tolerant blockchain protocol that is robust to extreme churn and shares the same trust model as Bitcoin.In addition to Bitcoin-NG, we introduce several novel metrics of interest in quantifying the security and efficiency of Bitcoin-like blockchain protocols. We implement Bitcoin-NG and perform large-scale experiments at 15% the size of the operational Bitcoin system, using unchanged clients of both protocols. These experiments demonstrate that Bitcoin-NG scales optimally,with bandwidth limited only by the capacity of the individual nodes and latency limited only by the propagation time of the network.
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