Achieving Almost All Blockchain Functionalities with Polylogarithmic Storage

AbstractIn current blockchain systems, full nodes that perform all of the available functionalities need to store entire blockchain. In addition blockchain, also a blockchain-summary, called state, which is used efficiently verify transactions. With size popular blockchains and their states growing rapidly, require massive storage resources in order keep up with scaling. This leads tug-of-war between scaling decentralization since fewer entities can afford expensive resources. We present hybrid for proof-of-work (PoW) cryptocurrencies validate transactions, blocks, states, mine, select main chain, bootstrap new nodes, payment proofs. use protocol trimming, only retain polylogarithmic number blocks chain length represent Hybrid are optimized state stateless protocols. The lowered requirements should enable more join as improve system. define novel theoretical security models show they provably secure. requirement near-optimal respect our definitions.KeywordsBlockchainsCryptocurrencyStorageNIPoPoWHybrid nodesTrimming