Increasing TPS rate of state‐based blockchains by parallel mining
Mohd Sameen Chishti, Amit Banerjee · Internet Technology Letters · 2020
Currently, the transaction per second (TPS) rate of a block‐chain is quite low (5 − 10 TPS), which limits its acceptability in the mainstream ICT technology. This letter proposes a parallel mining approach to enhance the efficiency of the state‐based block‐chains, in terms of TPS rate. The proposed methodology, partitions the transaction pool into disjoint sets, allowing parallel mining of the blocks by multiple miners. Furthermore, we show that the proposed methodology maintains the block‐chain fundamentals. Our experimental results show that parallel mining can significantly increase the TPS rate of a blockchain.