Efficient Public Blockchain Client for Lightweight Users

Abstract: Public blockchains provide a decentralized method for storing transaction data and have many applications in different sectors. In order for users to track transactions, a simple method is to let them keep a local copy of the entire public ledger. Since the size of the ledger keeps growing, this method becomes increasingly less practical, especially for lightweight users such as IoT devices and smartphones. In order to cope with the problem, several solutions have been proposed to reduce the storage burden. However, existing solutions either achieve a limited storage reduction (e.g., simple payment verification), or rely on some strong security assumption (e.g., the use of trusted server). In this paper, we propose a new approach to solving the problem. Specifically, we propose an \underline{e}fficient verification protocol for \underline{p}ublic \underline{b}lock\underline{c}hains, or EPBC for short. EPBC is particularly suitable for lightweight users, who only need to store a small amount of data that is {\it independent of} the size of the blockchain. We analyze EPBC's performance and security, and discuss its integration with existing public ledger systems. Experimental results confirm that EPBC is practical for lightweight users.