Prism: Scaling Bitcoin by 10,000x
- Lei Yang, MIT CSAIL
- Time: 2020-06-29 10:00
- Host: PKU Turing Class Research Committee
- Venue: Online Talk
Bitcoin is the first fully decentralized permissionless blockchain protocol and achieves a high level of security: the ledger it maintains has guaranteed liveness and consistency properties as long as the adversary has less compute power than the honest nodes. However, its throughput is only 7 transactions per second and the confirmation latency can be up to hours. Prism is a new blockchain protocol which is designed to achieve a natural scaling of Bitcoin's performance while maintaining its full security guarantees. We present an implementation of Prism which achieves a throughput of 70,000 transactions per second and confirmation latencies of tens of seconds.
Lei Yang is a PhD student at the Network and Mobile Systems group of MIT CSAIL advised by Mohammad Alizadeh and Hari Balakrishnan. His researched is focused on computer networks and distributed systems. He received SM from MIT in 2020 and BS from Peking University in 2018.