Al-Bassam, M;
Sonnino, A;
Bano, S;
Hrycyszyn, D;
Danezis, G;
(2017)
Chainspace: A Sharded Smart Contracts Platform.
ArXiv: Ithaca, NY, USA.
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Abstract
Chainspace is a decentralized infrastructure, known as a distributed ledger, that supports user defined smart contracts and executes user-supplied transactions on their objects. The correct execution of smart contract transactions is verifiable by all. The system is scalable, by sharding state and the execution of transactions, and using S-BAC, a distributed commit protocol, to guarantee consistency. Chainspace is secure against subsets of nodes trying to compromise its integrity or availability properties through Byzantine Fault Tolerance (BFT), and extremely high-auditability, non-repudiation and `blockchain' techniques. Even when BFT fails, auditing mechanisms are in place to trace malicious participants. We present the design, rationale, and details of Chainspace; we argue through evaluating an implementation of the system about its scaling and other features; we illustrate a number of privacy-friendly smart contracts for smart metering, polling and banking and measure their performance.
| Type: | Working / discussion paper |
|---|---|
| Title: | Chainspace: A Sharded Smart Contracts Platform |
| Open access status: | An open access version is available from UCL Discovery |
| Publisher version: | https://arxiv.org/abs/1708.03778 |
| Language: | English |
| Additional information: | This is an Open Access paper published under a Creative Commons Attribution 4.0 International (CC BY 4.0) Licence (https://creativecommons.org/licenses/by/4.0/). |
| UCL classification: | UCL 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-pp.ucl.ac.uk/id/eprint/10040949 |
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