Paper #2

A Survey on Efficient Parallelization of Blockchain-based Smart Contracts

Alessio Meneghetti, Tommaso Parise, Massimiliano Sala and Daniele Taufer

Abstract: The main problem faced by smart contract platforms is the amount of time and computational power required to reach consensus. In a classical blockchain model, each operation is in fact performed by each node, both to update the status and to validate the results of the calculations performed by others. In this short survey we sketch some state-of-the-art approaches to obtain an efficient and scalable computation of smart contracts. Particular emphasis is given to sharding, a promising method that allows parallelization and therefore a more efficient management of the computational resources of the network.

Keywords: Blockchain; Bitcoin; Metaphors; Thought Experiments; Algorithms; Governance; Automation.