TY - GEN
T1 - Maximizing Blockchain Performance
T2 - 7th IEEE International Conference on Blockchain, Blockchain 2024
AU - Bappy, Faisal Haque
AU - Zaman, Tarannum Shaila
AU - Islam Sajid, Md Sajidul
AU - Ahsan Pritom, Mir Mehedi
AU - Islam, Tariqul
N1 - Publisher Copyright:
© 2024 IEEE.
PY - 2024
Y1 - 2024
N2 - While blockchains initially gained popularity in the realm of cryptocurrencies, their widespread adoption is expanding beyond conventional applications, driven by the imperative need for enhanced data security. Despite providing a secure network, blockchains come with certain tradeoffs, including high latency, lower throughput, and an increased number of transaction failures. A pivotal issue contributing to these challenges is the improper management of 'conflicting transactions,' commonly referred to as 'contention'. When a number of pending transactions within a blockchain collide with each other, this results in a state of contention. This situation worsens network latency, leads to the wastage of system resources, and ultimately contributes to reduced throughput and higher transaction failures. In response to this issue, in this work, we present a novel blockchain scheme that integrates transaction parallelism and an intelligent dependency manager aiming to reduce the occurrence of conflicting transactions within blockchain networks. In terms of effectiveness and efficiency, experimental results show that our scheme not only mitigates the challenges posed by conflicting transactions, but also outperforms both existing parallel and non-parallel Hyperledger Fabric blockchain networks achieving higher transaction success rate, throughput, and latency. The integration of our scheme with Hyperledger Fabric appears to be a promising solution for improving the overall performance and stability of blockchain networks in real-world applications.
AB - While blockchains initially gained popularity in the realm of cryptocurrencies, their widespread adoption is expanding beyond conventional applications, driven by the imperative need for enhanced data security. Despite providing a secure network, blockchains come with certain tradeoffs, including high latency, lower throughput, and an increased number of transaction failures. A pivotal issue contributing to these challenges is the improper management of 'conflicting transactions,' commonly referred to as 'contention'. When a number of pending transactions within a blockchain collide with each other, this results in a state of contention. This situation worsens network latency, leads to the wastage of system resources, and ultimately contributes to reduced throughput and higher transaction failures. In response to this issue, in this work, we present a novel blockchain scheme that integrates transaction parallelism and an intelligent dependency manager aiming to reduce the occurrence of conflicting transactions within blockchain networks. In terms of effectiveness and efficiency, experimental results show that our scheme not only mitigates the challenges posed by conflicting transactions, but also outperforms both existing parallel and non-parallel Hyperledger Fabric blockchain networks achieving higher transaction success rate, throughput, and latency. The integration of our scheme with Hyperledger Fabric appears to be a promising solution for improving the overall performance and stability of blockchain networks in real-world applications.
KW - Blockchain
KW - Conflicting Transaction
KW - Dependency Management
KW - Hyperledger Fabric
KW - Throughput
KW - Transaction Parallelism
UR - http://www.scopus.com/inward/record.url?scp=85205568610&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85205568610&partnerID=8YFLogxK
U2 - 10.1109/Blockchain62396.2024.00027
DO - 10.1109/Blockchain62396.2024.00027
M3 - Conference contribution
AN - SCOPUS:85205568610
T3 - Proceedings - 2024 IEEE International Conference on Blockchain, Blockchain 2024
SP - 140
EP - 147
BT - Proceedings - 2024 IEEE International Conference on Blockchain, Blockchain 2024
PB - Institute of Electrical and Electronics Engineers Inc.
Y2 - 19 August 2024 through 22 August 2024
ER -