Solving blockchain trilemma using off‐chain storage protocol
Abstract Trilemma in blockchain refers to the infamous problem of simultaneously not delivering the three critical aspects of a ledger: security, scalability, and decentralisation. While security and scalability hinder decentralisation, security is jeopardised if the scalability is escalated. This d...
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| Format: | Article |
| Language: | English |
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Wiley
2023-07-01
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| Series: | IET Information Security |
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| Online Access: | https://doi.org/10.1049/ise2.12124 |
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| author | Saha Reno Md. Mokammel Haque |
| author_facet | Saha Reno Md. Mokammel Haque |
| author_sort | Saha Reno |
| collection | DOAJ |
| description | Abstract Trilemma in blockchain refers to the infamous problem of simultaneously not delivering the three critical aspects of a ledger: security, scalability, and decentralisation. While security and scalability hinder decentralisation, security is jeopardised if the scalability is escalated. This deficiency of not maintaining a balance among these three crucial factors restricts the broader adoption of blockchain technology and cryptocurrencies in the industries. This paper proposes a solution to the blockchain trilemma by implementing a public ledger using The InterPlanetary File System (IPFS) and a newly introduced strategy called the double‐chain technique. The scalability and decentralisation features are guaranteed by the distributed file system of IPFS and the public nature of the blockchain suggested in this study. Although any consensus can be plugged into our system, the proof‐of‐work consensus is utilised to ensure that the security is not compromised while stabilising scalability and decentralisation. |
| format | Article |
| id | doaj-art-a52991beabc140d29e8ed454e57cdf91 |
| institution | OA Journals |
| issn | 1751-8709 1751-8717 |
| language | English |
| publishDate | 2023-07-01 |
| publisher | Wiley |
| record_format | Article |
| series | IET Information Security |
| spelling | doaj-art-a52991beabc140d29e8ed454e57cdf912025-08-20T02:23:05ZengWileyIET Information Security1751-87091751-87172023-07-0117468170210.1049/ise2.12124Solving blockchain trilemma using off‐chain storage protocolSaha Reno0Md. Mokammel Haque1Department of Computer Science and Engineering Chittagong University of Engineering and Technology Chattogram BangladeshDepartment of Computer Science and Engineering Chittagong University of Engineering and Technology Chattogram BangladeshAbstract Trilemma in blockchain refers to the infamous problem of simultaneously not delivering the three critical aspects of a ledger: security, scalability, and decentralisation. While security and scalability hinder decentralisation, security is jeopardised if the scalability is escalated. This deficiency of not maintaining a balance among these three crucial factors restricts the broader adoption of blockchain technology and cryptocurrencies in the industries. This paper proposes a solution to the blockchain trilemma by implementing a public ledger using The InterPlanetary File System (IPFS) and a newly introduced strategy called the double‐chain technique. The scalability and decentralisation features are guaranteed by the distributed file system of IPFS and the public nature of the blockchain suggested in this study. Although any consensus can be plugged into our system, the proof‐of‐work consensus is utilised to ensure that the security is not compromised while stabilising scalability and decentralisation.https://doi.org/10.1049/ise2.12124computer network securitycryptographic protocolscryptographydata privacydigital signaturespublic key cryptography |
| spellingShingle | Saha Reno Md. Mokammel Haque Solving blockchain trilemma using off‐chain storage protocol IET Information Security computer network security cryptographic protocols cryptography data privacy digital signatures public key cryptography |
| title | Solving blockchain trilemma using off‐chain storage protocol |
| title_full | Solving blockchain trilemma using off‐chain storage protocol |
| title_fullStr | Solving blockchain trilemma using off‐chain storage protocol |
| title_full_unstemmed | Solving blockchain trilemma using off‐chain storage protocol |
| title_short | Solving blockchain trilemma using off‐chain storage protocol |
| title_sort | solving blockchain trilemma using off chain storage protocol |
| topic | computer network security cryptographic protocols cryptography data privacy digital signatures public key cryptography |
| url | https://doi.org/10.1049/ise2.12124 |
| work_keys_str_mv | AT sahareno solvingblockchaintrilemmausingoffchainstorageprotocol AT mdmokammelhaque solvingblockchaintrilemmausingoffchainstorageprotocol |