Implementation of Minimally Shared Blockchains using Big Data Applications

Abstract

Due to the scalability factor associated with a blockchain, it is inevitable that it will grow with time. Therefore, one of the primary concerns associated with a blockchain is its growing size as more blocks are introduced into the chain. When a full node or a mining node joins a blockchain network, it requires downloading all the existing information available in the distributed chain before it can add new blocks. Thus, as time progresses and more blocks are appended to the chain, a large amount of information needs to be replicated in its local machine. We introduce an approach to keep a minimally shared blockchain in the network which keeps the size of the distributed ledger limited and, thus, new miners can participate in the mining process at a faster pace.