A Decentralized Blockchain Transaction Verification Scheme in the Weighted Setting

Abstract

Blockchain transaction verification is fundamental to decentralized financial applications, ensuring both transaction authorization and integrity. Most existing verification schemes utilize an equal weight model that grants identical rights to all participants. However, these schemes fail to capture real-world scenarios like Proof-of-Stake blockchains, where participants have right discrepancies. Additionally, many schemes depend on trusted third parties for key generation, introducing single points of failure and compromising security. To address these limitations, we propose WBlock that is a weighted and decentralized verification scheme. WBlock involves a distributed key generation protocol that embeds each entity's weight into its secret share, eliminating the need for trusted third parties. It further employs a Schnorr-type weighted threshold signing protocol, enabling distributed transaction authorization while reflecting participant weight in signature shares. Security analysis shows that WBlock achieves both correctness and unforgeability. Comparative theoretical analysis shows that our key generation and signing protocols outperform existing methods in terms of round complexity, communication overhead and data size. Experimental results confirm that WBlock achieves a balance between security and efficiency, with acceptable overhead for real-world blockchain deployment.