Biblio

Storing information in Blockchain has become in vogue in the Technical and Communication Industry with many major players jumping into the bandwagon. Two of the most prominent enablers for Blockchain are “Proof of Work” and “Proof of Stake”. Proof of work includes the members solving the complex problem without having a particular need for the solution (except as evidence, of course), which absorbs a large number of resources in turn. The proof of stake doesn’t require as many resources to enable Blockchain secure information store. Both methodologies have their advantages and their shortcomings. The article attempts to review the current literature and collate the results of the study to measure the performance of both the methodologies and to arrive at a consensus regarding either or both methodologies to implement Blockchain to store data. Post reviewing the performance aspects and security features of both Proofs of Stake and Proof of Work the reviewer attempts to arrive at a secure and better performing blended Blockchain methodology that has wide industry practical application.

The characteristics of decentralization, tamper-resistance and transaction anonymity of blockchain can resolve effectively the problems in traditional intellectual property such as the difficulty of electronic obtaining for evidence, the high cost and low compensation when safeguarding the copyrights. Blockchain records the information through encryption algorithm, removes the third party, and stores the information in all nodes to prevent the information from being tampered with, so as to realize the protection of intellectual property. Starting from the bottom layer of blockchain, this paper expounds in detail the characteristics and the technical framework of blockchain. At the same time, according to the existing problems in transaction throughput, time delay and resource consumption of blockchain system, optimization mechanisms such as cross-chain and proof of stake are analyzed. Finally, combined with the characteristics of blockchain technology and existing application framework, this paper summarizes the existing problems in the industry and forecasts the development trend of intellectual property based on blockchain technology.

The success and growing popularity of blockchain technology has lead to a significant increase in load on popular permissionless blockchains such as Ethereum. With the current design, these blockchain systems do not scale with additional nodes since every node executes every transaction. Further efforts are therefore necessary to develop scalable permissionless blockchain systems. In this paper, we provide an aggregated overview of the current research on the Ethereum blockchain towards solving the scalability challenge. We focus on the concept of sharding, which aims to break the restriction of every participant being required to execute every transaction and store the entire state. This concept however introduces new complexities in the form of stateless clients, which leads to a new challenge: how to guarantee that critical data is published and stays available for as long as it is relevant. We present an approach towards solving the data availability problem (DAP) that leverages synergy effects by reusing the validators from Casper. We then propose two distinct approaches for reliable collation proposal, state transition, and state verification in shard chains. One approach is based on verification by committees of Casper validators that execute transactions in proposed blocks using witness data provided by executors. The other approach relies on a proof of execution provided by the executor proposing the block and a challenge game, where other executors verify the proof. Both concepts rely on executors for long-term storage of shard chain state.