Blockchain Transaction Validation Nodes for High-Throughput Networks
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Solution Overview
Problem
The Bitcoin blockchain network faces limitations in processing and storing large volumes of transactions, resulting in inefficiencies and increased pressure on the network, with current block sizes and 10-minute block times unable to handle competitive transaction rates like VISA's 10,000 transactions per second.
Innovation Solution
A modified blockchain network architecture with specialized transaction validation nodes that validate and store transactions in a distributed, decentralized manner, allowing miners to focus on mining rather than validation, and utilizing large-scale storage entities for storing large blocks, enabling the network to handle approximately 50,000 transactions per second.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If miners validate and store all transactions themselves, then transaction validation is ensured, but network pressure increases and processing efficiency decreases
Solution Approach 1:
The patent divides the blockchain network into specialized nodes: transaction validation nodes that validate and store transactions, and miner nodes that focus on mining. This segmentation allows each node type to perform its specific function efficiently, reducing overall network pressure while maintaining validation reliability.
Solution Approach 2:
The patent introduces transaction validation nodes as intermediaries between users and miners. These nodes validate transactions before they reach miners and store them in a distributed manner, acting as a buffer that reduces the burden on miners while ensuring transaction validity.
2Productivity
If block size is increased to handle more transactions, then transaction capacity increases, but storage requirements and network bandwidth increase
Solution Approach 1:
The patent segments the storage function from the mining function. Transaction validation nodes store transactions in a distributed manner across the network, while miners only need to access validated transactions from these nodes. This allows large block sizes without requiring each miner to store all transactions locally.
Solution Approach 2:
Transaction validation nodes serve as intermediaries that store and manage large volumes of transaction data. Miners can retrieve validated transactions from these nodes without needing to maintain full copies of all transaction data, reducing individual storage requirements while maintaining overall network capacity.
3Productivity
If miners construct and store large blocks, then transaction processing capacity increases, but device complexity and resource requirements increase
Solution Approach 1:
The patent segments node functions into validation nodes that handle transaction validation and storage, and miner nodes that handle block creation. This allows miners to have simpler configurations since they don't need to validate or store all transactions, reducing device complexity while maintaining processing capacity.
Solution Approach 2:
Transaction validation nodes provide services to miners by validating and storing transactions in a distributed manner. Miners can access these services without needing to perform validation themselves, allowing miners to focus resources on mining operations rather than maintaining full validation capabilities.
Data Source
AI summary
Computer-implemented methods and systems are provided which are suitable for implementation in transaction validation nodes of a blockchain network. Modified blockchain node structures, network architectures, and protocols for handling large numbers of transactions and large transaction blocks are described. The invention is particularly suited, but not limited, to use with the Bitcoin blockchain. A computer-implemented method is provided which includes: (i) receiving transactions from the blockchain network; (ii) validating transactions received from the blockchain network; (iii) maintaining a distributed, decentralized storage of validated transactions with other transaction validation nodes in the blockchain network; and (iv) distributing data corresponding to said validated transactions to the blockchain network for mining.