Paper 2023/951
Latency-First Smart Contract: Overclock the Blockchain for a while
Abstract
Blockchain systems can become overwhelmed by a large number of transactions, leading to increased latency. As a consequence, latency-sensitive users must bid against each other and pay higher fees to ensure that their transactions are processed in priority. However, most of the time of a blockchain system (78% in Ethereum), there is still a lot of unused computational power, with few users sending transactions. To address this issue and reduce latency for users, we propose the latency-first smart contract model in this paper, which optimistically accepts committed transactions. This allows users to submit a commitment during times of high demand, and then complete the rest of the work at a lower priority. From the perspective of the blockchain, this temporarily “overclocks” the system. We have developed a programming tool for our model, and our experiments show that the proposed latency-first smart contract model can greatly reduce latency during the periods of high demand.
Note: Accepted for IEEE INFOCOM 2023
Metadata
- Available format(s)
-
PDF
- Category
- Applications
- Publication info
- Published elsewhere. IEEE INFOCOM 2023
- Keywords
- latency-first smart contractEthereumblockchain
- Contact author(s)
-
qi @ huayi email
mhxu @ sdu edu cn
xzcheng @ sdu edu cn
lwf @ buaa edu cn - History
- 2023-06-19: approved
- 2023-06-17: received
- See all versions
- Short URL
- https://ia.cr/2023/951
- License
-
CC BY
BibTeX
@misc{cryptoeprint:2023/951,
author = {Huayi Qi and Minghui Xu and Xiuzhen Cheng and Weifeng Lyu},
title = {Latency-First Smart Contract: Overclock the Blockchain for a while},
howpublished = {Cryptology {ePrint} Archive, Paper 2023/951},
year = {2023},
url = {https://eprint.iacr.org/2023/951}
}