The Binary Vector Clock
This addresses transaction ordering inefficiencies in blockchain systems, offering a space-efficient solution that could enhance scalability.
The paper tackles the problem of order dependency in account-based blockchains like Ethereum, proposing the Binary Vector Clock algorithm which maintains security with minimal overhead and potentially increases throughput significantly.
The Binary Vector Clock is a simple, yet space-efficient algorithm for generating a partial order of transactions in account-based blockchain systems. The Binary Vector Clock solves the problem of order dependency in systems such as Ethereum, caused by the total order of transactions that come from the same address holder. The proposed algorithm has the same security as using regular transaction nonces, requires very little overhead, and can potentially result in a significant increase in throughput for systems like Ethereum.