Residential College | false |
Status | 已發表Published |
Minimizing block incentive volatility through Verkle tree-based dynamic transaction storage | |
Zhao, Xiongfei1; Zhang, Gerui2; Long, Hou Wan3; Si, Yain Whar1 | |
2024-05-01 | |
Source Publication | Decision Support Systems |
ABS Journal Level | 3 |
ISSN | 0167-9236 |
Volume | 180Pages:114180 |
Abstract | Transaction fees are a crucial revenue source for miners in public and consortium blockchains. However, while public blockchains have additional revenue streams, transaction fees serve as the primary income for miners in consortium blockchains formed by various financial institutions. These miners allocate different levels of computing resources to process transactions and earn corresponding fees. Nonetheless, relying solely on transaction fees can lead to significant volatility and encourage non-standard mining behaviors, thereby posing threats to the blockchain's security and integrity. Despite previous attempts to mitigate the impact of transaction fees on illicit mining behaviors, a comprehensive solution to this vulnerability is yet to be established. To address this gap, we introduce a novel approach that leverages Dynamic Transaction Storage (DTS) strategies to effectively minimize block incentive volatility. Our solution implements a Verkle tree-based storage mechanism to reduce bandwidth consumption. Moreover, to configure the DTS strategies, we evaluate several optimization algorithms and formulate the challenge as a Vehicle Routing Problem. Our experiments conducted using historical transactions from Bitcoin and remittance data from the Industrial and Commercial Bank of China reveal that the strategy focusing on time-based transaction incorporation priority, while excluding a designated space for small-fee transactions, as discovered by the gradient-based optimizer algorithm, proves most effective in reducing volatility. Hence, the DTS strategy can sustain stable block incentives irrespective of transaction types or user bidding behavior. Furthermore, the inclusion of higher-fee transactions, often smaller in size, can alleviate propagation delays and the occurrence of forks. |
Keyword | Block Incentive Blockchain Dynamic Transaction Storage Transaction Fees Vehicle Routing Problem Verkle Tree |
DOI | 10.1016/j.dss.2024.114180 |
URL | View the original |
Indexed By | SCIE |
Language | 英語English |
WOS Research Area | Computer Science ; Operations Research & Management Science |
WOS Subject | Computer Science, Artificial Intelligence ; Computer Science, Information Systems ; Operations Research & Management Science |
WOS ID | WOS:001179467300001 |
Publisher | ELSEVIERRADARWEG 29, 1043 NX AMSTERDAM, NETHERLANDS |
Scopus ID | 2-s2.0-85184140153 |
Fulltext Access | |
Citation statistics | |
Document Type | Journal article |
Collection | Faculty of Science and Technology DEPARTMENT OF ELECTRICAL AND COMPUTER ENGINEERING DEPARTMENT OF COMPUTER AND INFORMATION SCIENCE |
Corresponding Author | Si, Yain Whar |
Affiliation | 1.Department of Computer and Information Science, University of Macau, Macao 2.Center for Data Science, University of Macau, Macao 3.Department of Statistics, The Chinese University of Hong Kong, Hong Kong |
First Author Affilication | University of Macau |
Corresponding Author Affilication | University of Macau |
Recommended Citation GB/T 7714 | Zhao, Xiongfei,Zhang, Gerui,Long, Hou Wan,et al. Minimizing block incentive volatility through Verkle tree-based dynamic transaction storage[J]. Decision Support Systems, 2024, 180, 114180. |
APA | Zhao, Xiongfei., Zhang, Gerui., Long, Hou Wan., & Si, Yain Whar (2024). Minimizing block incentive volatility through Verkle tree-based dynamic transaction storage. Decision Support Systems, 180, 114180. |
MLA | Zhao, Xiongfei,et al."Minimizing block incentive volatility through Verkle tree-based dynamic transaction storage".Decision Support Systems 180(2024):114180. |
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