Proof of Real-Time Transfer: A Consensus Protocol for Decentralized Data Exchange
Narayanan Ramanathan, Ragul Kumar, Siddharth Banerjee, Sriram Padmanabhan · 2023
Proof of Real-Time Transfer (PoRT) consensus is a secure, highly scalable, decentralized data verification protocol that supports the exchange of data in any form factor (remaining content agnostic) with guarantees towards data privacy, data integrity and source authentication. It is built on a modular framework that serves core functionalities towards decentralized public key infrastructure (DPKI), message standardization and encryption, decentralized message verification a nd storage. PoRT's security guarantees stem from its adoption of cryptographic primitives and their nuanced derivatives that confer verifiability and further game theoretic constructs that prove pertinence in work. High scalability of PoRT can be attributed to network sharding and compute sharding that optimize resource usage and to parallel chains that confer instant finality. PoRT allows applications to define and implement purpose-built message-driven business solutions across industries like IoT, social media, instant messaging and gaming. Our analysis indicates that the proposed consensus protocol can achieve throughputs upto 976K messages per second on today's commodity hardware.