Block Advertisement Protocol
This addresses scalability issues for Bitcoin users and miners, but appears incremental as it builds on existing blockchain mechanisms.
The paper tackles Bitcoin's trade-off between transaction throughput and centralization by proposing the Block Advertisement Protocol, which enables parallel block mining and relaying to improve performance.
Bitcoin, a decentralized cryptocurrency, has attracted a lot of attention from academia, financial service industry and enthusiasts. The trade-off between transaction confirmation throughput and centralization of hash power do not allow Bitcoin to perform at the same level as modern payment systems. Block Advertisement Protocol is proposed as a step to resolve this issue. The protocol allows block mining and block relaying to happen in parallel. The protocol dictates a miner to advertise the block it is going to mine allowing other miners to collect all the transactions in advance. When a block in mined, only header is relayed since most of data about the block is already known to all miners.