A Permissioned Blockchain Framework for Supporting Instant Transaction and Dynamic Block Size

Abstract

The lack of credibility of transactions has become major issue restricting the rapid development and popularization of E-commerce. Existing solutions adopt blockchain protocols to improve the credibility of transactions. Most of them still have significant scalability barrier, such as instant transaction and throughput. By analyzing how fundamental and circumstantial bottlenecks in Bitcoin-derived blockchain limit the ability of its current peer-to-peer overlay network, this paper presents Permissioned Blockchain Framework (PBF). PBF aims at achieving trusted trading and supporting instant transaction in E-commerce. To guarantee a higher credibility of transactions, this paper presents a global consensus algorithm - Permissioned Trusted Trading Network Consensus Algorithm. In order to fulfill the demand of instant transactions without sacrificing credibility, this paper presents a Peer Inner Blockchain Protocol. The comparison between PBF and Bitcoin-derived blockchain in E-commerce, suggests better performance on throughput, latency, capacity.