Gemini-Chain: A Regulatable Digital Currency Model based on Blockchain
Jianyi Zhang, Pengju Li, Zhili Xu, Anqi Wang, Jin Liu, Zhiqiang Wang · 2020
Blockchain technology is the fundamental technology for digital currency such as Bitcoin. Because blockchain can establish credit between unfamiliar nodes in distributed systems, there are no more centralized credit entities in emerging digital currency systems. It's challenging for financial regulators and state agencies to supervise and manage the participants in the digital money system and the transactions between them. In this paper, a double-chain based regulatable model is proposed to solve this problem. In the aspect of the consensus mechanism, we introduce an agreement protocol based on the Credit Practical Byzantine Fault Tolerance to improve the system efficiency. The experimental results show that the proposed double-chain model works effectively, and the consensus mechanism and overall performance meet the design requirements.