80% of Block Propagation Rate is Enough - Towards Secure and Efficient PoW-based Blockchain Consensus (poster)

Abstract

Recently, Samsung released Galaxy S10 supporting the cryptowallet feature [5]. However, it is still questionable whether cryptocurrency can be popularly used for mobile payments because processing transactions in existing blockchain systems are too slow. For example, public blockchain systems such as Bitcoin [6] (7 transactions per second (TPS)) and Ethereum (15 TPS) are significantly slower than mainstream payment systems such as Visa (2,000 TPS) using a centralized database.