Research And Applications On The Key Techniques Of Decentralized Transaction Based On Blockchain

The Blockchain technology was invented along with the creation of Bitcoin in 2009.As a public ledger of all Bitcoin transactions that have ever been executed,the Blockchain technology is transparent and reliable and it has an ability of decentralization.Therefore,this innovated technology has drawn a lot of attention from specialists and scholars dramatically.Ethereum is an extended invention of the Blockchain technology,which was designed as a decentralized platform for decentralized applications.Ethereum enables the users to expand the use of the Blockchain technology from financial industry to other industries.Recently,members of consortium from different industries have successfully solved problems relate to decentralization with the Blockchain technology,therefore,the Consortium Blockchain is now accepted by more and more corporations.The objective of this essay is to describe the analysis and study of the Blockchain technology using Consortium blockchain in order to improve any weakness that may exist in Ethereum on applying Consortium Blockchain and the conduction of decentralized platform based on the Blockchain technology is introduced.This essay is to describe the analysis and study of the Blockchain technology using Consortium blockchain in order to improve any weakness that may exist in Ethereum on applying Consortium Blockchain.Furthermore,it also introduces the conduction of decentralized platform based on the Blockchain technology.The main objectives of this essay are described as follow:(1)Using Ethereum as an example to demonstrate the related concepts of the Blockchain then further analyzing the data layer and the consensus layer to bring out the related concepts of Smart Contract.(2)In terms of the issue regarding to the waste of hash rate in consortium blockchain based on the proof-of-work,which is a consensus mechanism,the essay demonstrates an improvement of reducing transmission consumption during consensus process by using PBFT consensus algorithm to design a new block produce rule to apply with timeout mechanism.(3)Demonstrating an accounts storage optimization plan based on the characteristics of consensus blockchain,which includes modifying two accounts from a single transaction simultaneously by using Merkle Patricia tree's data structure and improving account modification efficiency by using K-means clustering algorithms to cluster relevant accounts.(4)Building new consensus blockchain on the improved Ethereum,then apply it to the conduction of a new decentralized platform.