Blockchain is maintained as a global log between a network of nodes and uses cryptographic distributed protocols to synchronize the updates. As adopted by Bitcoin and Ethereum these update operations to the ledger are serialized, and executed in batches. To safeguard the system against the generation of conflicting sets of updates and maintain the consistency of the ledger, the frequency of the updates is controlled, which severely affects the performance of the system. This paper presents Converging Directed Acyclic Graph (CDAG), as a substitute for the chain and DAG structures used in other blockchain protocols. CDAG allows multiple parallel updates to the ledger and converges them at the next step providing finality to the blocks. It partitions the updates into non-intersecting buckets of transactions to prevent the generation of conflicting blocks and divide the time into slots to provide enough time for them to propagate in the network. Multiple simultaneous updates improve the throughput of CDAG, and the converging step helps to finalize them faster, even in the presence of conflicts. Moreover, CDAG provides a total order among the blocks of the ledger to support smart contracts, unlike some of the other blockDAG protocols. We evaluate the performance of CDAG on Google Cloud Platform using Google Kubernetes Engine, simulating a real-time network. Experimental results show that CDAG achieves a throughput of more than 2000 transactions per second and confirms them well in under 2 minutes. Also, the protocol scales well in comparison to other permissioned protocols, and the capacity of the network only limits the performance.
Download