Improving Transaction Speed and Scalability in Blockchain Systems

This paper presents a parallel mining architecture model intended to be used in blockchain systems to improve transaction speed and network scalability while maintaining decentralization. Typical blockchain validation times are significantly slower than traditional digital transaction systems. The model proposed is intended to allow devices with limited computational power to make meaningful contributions to the blockchain system by introducing parallel proof of work, managed by automated manager nodes. This will allow blockchain systems to be integrated into cloud environments and the internet of things. The proposed model is also intended to address and reduce power consumption problems current blockchain systems face, by allowing the network to validate transactions without the need of high-powered specialty mining machines. Automation and virtualization of network nodes is intended to utilize hardware already online to preform parallel proof of work together in contrast to nodes all competing against each other and wasting electrical power.