Scalable Secure Blockchain based on Proof of Stake Protocol ARAM Blockchain

Abstract

The main drawback of the Bitcoin cryptocurrency is its low scalability, which somehow is a consequence of the Proof-of-Work (PoW) consensus algorithm. So many other cryptocurrencies use the Proof-of-Stake (PoS) algorithm. In this paper, we present an outline of the architectural design of ARAM technology and arrangements built on PoS, ARAM is a scalable secure blockchain. With sharding technique in which transactions are divided among multiple groups to take the benefits of nodes computational power and process the transaction in parallel which speeds our system and achieves the desired scalability. The scalability of our proposed method is expected to increase linearly with the network size. Group double validation, fast confirmation time and randomization guarantee the security for our architecture. We also present a reward and penalty punishment mechanisms, with these mechanisms, the blockchain has a low probability of forks, to get the best use of ARAM blockchain in addition to the speeding up and fasting the confirmation time for the transaction, moreover, the advantages and contributions of master nodes are fair in the sense that the probability distribution function is ultimately uniform and provides an affirmative direction for other nodes.

Keywords: Blockchain, Proof of stake, ARAM, Proof of Work, Consensus Algorithms, Scalability

JEL Classification: E5, O33, C8