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OmniLedger: A Secure, Scale-Out, Decentralized Ledger via Sharding

Kokoris-Kogias, E; Jovanovic, P; Gasser, L; Gailly, N; Syta, E; Ford, B; (2018) OmniLedger: A Secure, Scale-Out, Decentralized Ledger via Sharding. In: Proceedings of the 2018 IEEE Symposium on Security and Privacy (SP). (pp. pp. 583-598). IEEE: San Francisco, CA, USA. Green open access

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Abstract

Designing a secure permissionless distributed ledger (blockchain) that performs on par with centralized payment processors, such as Visa, is a challenging task. Most existing distributed ledgers are unable to scale-out, i.e., to grow their total processing capacity with the number of validators; and those that do, compromise security or decentralization. We present OmniLedger, a novel scale-out distributed ledger that preserves longterm security under permissionless operation. It ensures security and correctness by using a bias-resistant public-randomness protocol for choosing large, statistically representative shards that process transactions, and by introducing an efficient cross-shard commit protocol that atomically handles transactions affecting multiple shards. OmniLedger also optimizes performance via parallel intra-shard transaction processing, ledger pruning via collectively-signed state blocks, and low-latency "trust-but-verify" validation for low-value transactions. An evaluation of our experimental prototype shows that OmniLedger's throughput scales linearly in the number of active validators, supporting Visa-level workloads and beyond, while confirming typical transactions in under two seconds.

Type: Proceedings paper
Title: OmniLedger: A Secure, Scale-Out, Decentralized Ledger via Sharding
Event: 2018 IEEE Symposium on Security and Privacy (SP)
Location: San Francisco, CA, USA
Dates: 20 May 2018 - 24 May 2018
ISBN-13: 978-1-5386-4353-2
Open access status: An open access version is available from UCL Discovery
DOI: 10.1109/sp.2018.000-5
Publisher version: https://doi.org/10.1109/sp.2018.000-5
Language: English
Additional information: This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions.
Keywords: blockchain, sharding, distributed ledger, cross shard, decentralization, Byzantine Fault Tolerant, trust but verify, scalable, ByzCoinX, Atomix, ledger pruning, state blocks, randomness
UCL classification: UCL
UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL BEAMS
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science > Dept of Computer Science
URI: https://discovery.ucl.ac.uk/id/eprint/10116631
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