ZeroCalo

Abstract

The blockchain technology introduced in Satoshi Nakamoto's paper "Bitcoin: A Peer-to-Peer Electronic Cash System" bring a realistic distributed way of transaction to this world. The alternative blockchain Ethereum improved some demerits of Bitcoin. However, the major problem still exists - hash-based proof-of-work requires heavy computing power and hurts the scalability. In this paper, we propose a lightweight blockchain called ZeroCalo. It constructs thousands of miner nodes into DHT (Distributed Hash Table) structure. Efficient message broadcast and key lookup are developed. With them, a consensus-based proof-of-work algorithm for distributed ledger is fulfilled. The evaluation shows that a transaction requires O(logN) of time and O(N) of bandwidth consumption. ZeroCalo consumes very little energy while providing good TPS. This property makes it possible to be deployed on IOT device network or low-end hosts in cloud environment.