Prism: Scaling Bitcoin by 10, 000x.
Year: 2019
Type: preprint
Abstract: Bitcoin is the first fully decentralized permissionless blockchain protocol and achieves a high level of security: the ledger it maintains has guaranteed liveness and consistency properties as long as the adversary has less compute power than the honest nodes. However, its throughput is only 7 transactions per second and the confirmation latency can be up to hours. Prism is a new blockchain protocol which is designed to achieve a natural scaling of Bitcoin's performance while maintaining its full security guarantees. We present an implementation of Prism which achieves a throughput of 70,000 transactions per second and confirmation latencies of tens of seconds.
Source: arXiv (Cornell University)
Language: English
Subfield: Information Systems
Field: Computer Science
Domain: Physical Sciences
Open Access status: green
OpenAlex ID: W2975655615