Author copy of paper
Abstract: Cryptocurrencies and blockchain technology provide an innovative model for reshaping digital services. Driven by the movement toward Web 3.0, recent systems started to provide distributed services, such as computation outsourcing or file storage, on top of the currency exchange medium. By allowing anyone to join and collect cryptocurrency payments for serving others, these systems create decentralized markets for trading digital resources. Yet, there is still a big gap between the promise of these markets and their practical viability. Existing initiatives are still early-stage and have already encountered security and efficiency obstacles. At the same time, existing work around promising ideas, specifically sidechains, fall short in exploiting their full potential in addressing these problems.
To bridge this gap, we propose chainBoost, a secure performance booster for decentralized resource markets. It expedites service related operations, reduces the blockchain size, and supports flexible service-payment exchange modalities at low overhead. At its core, chainBoost employs a sidechain, that has a (security and semantic) mutual-dependence with the mainchain, to which the system offloads heavy/frequent operations. To enable it, we develop a novel sidechain architecture composed of temporary and permanent blocks, a block suppression mechanism to prune the sidechain, a syncing protocol to permit arbitrary data exchange between the two chains, and an autorecovery protocol to support robustness and resilience. We analyze the security of chainBoost, and implement a proof-of-concept prototype for a distributed file storage market as a use case. For a market handling around 2000 transactions per round, our experiments show up to 11x improvement in throughput and 94% reduction in confirmation time. They also show that chainBoost can reduce the main blockchain size by around 90%.
Meta Review:
This paper proposes chainBoost, which offloads frequent/heavy service-related transactions to a sidechain for better performance regarding throughput, delays, and storage usage. The sidechain is managed by a committee with members dynamically elected from the mainchain miners running PBFT consensus. The clients and servers (or service providers) interact through two phases: market matching and service-payment exchange. Once matched and service provided, a server submits proofs of service and payment requests to the sidechain (as an escrow), which verifies the proofs and approves payments sent to the server account.
- Despite concerns about the novelty of individual components, chainBoost's overall architecture and its integration into a functioning system demonstrate an advancement in blockchain technology.
- The proposal of chainBoost can improve the scalability of Blockchain networks while supporting security measures.
- Several "optimizations" (e.g., a suppression mechanism for reducing storage, syncing and auto-recovery protocols to handle rollbacks for robustness) are employed/proposed.
- The study provided a comprehensive implementation for a distributed file storage market. The results demonstrated notable performance improvements over the case without chainBoost.