The Binary Vector Clock

Abstract

The Binary Vector Clock is a simple, yet space-efficient algorithm for generating a partial order of transactions in account-based blockchain systems. The Binary Vector Clock solves the problem of order dependency in systems such as Ethereum, caused by the total order of transactions that come from the same address holder. The proposed algorithm has the same security as using regular transaction nonces, requires very little overhead, and can potentially result in a significant increase in throughput for systems like Ethereum.