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arXiv · 1910.06682

Hydra: A Multiple Blockchain Protocol for Improving Transaction Throughput

Rowel Gündlach·Jaap-Henk Hoepman·Remco van der Hofstad·Tommy Koens·Stijn Meijer
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Abstract

Improving transaction throughput is one of the main challenges in decentralized payment systems. Attempts to improve transaction throughput in cryptocurrencies are usually a trade-off between throughput and security or introduce a central component. We propose Hydra, a decentralized protocol that improves transaction throughput without the security trade-off and has no central component. Our novel approach distributes blocks over multiple blockchains. Hydra makes a trade-off between transaction throughput and finality, the time it takes to stabilize the record of a transaction in the blockchain. We rigorously analyze the double spend attack in a multiple-blockchain protocol. Our analysis shows that the number of transactions per second can be increased significantly while finality is within acceptable boundaries.

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Rowel Gündlach, Jaap-Henk Hoepman, Remco van der Hofstad, Tommy Koens, Stijn Meijer. 2019-10-15. Hydra: A Multiple Blockchain Protocol for Improving Transaction Throughput. https://arxiv.org/abs/1910.06682

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