LightChain: Scalable DHT-Based Blockchain

As an append-only distributed database, blockchain is utilized in a vast variety of applications including the cryptocurrency and Internet-of-Things (IoT). The existing solutions show downsides communication storage scalability, as well decentralization. In this article, we propose LightChain, which first architecture that operates over Distributed Hash Table (DHT) participating peers. LightChain permissionless provides addressable blocks transactions within network, makes them efficiently accessible by all Each block transaction replicated DHT peers retrieved on-demand manner. Hence, are not required to retrieve or keep entire ledger. fair have uniform chance being involved consensus regardless their influence such hashing power stake. We provide formal mathematical analysis experimental results (simulations cloud deployment) demonstrate security, efficiency, fairness only can integrity under corrupted majority experimentally demonstrate, compared mainstream blockchains Bitcoin Ethereum, requires around 66 times smaller per node storage, 380 faster on bootstrapping new system, each rewarded equally likely for protocol.