LDAGB: A Lightweight DAG-based Blockchain

To solve the problems of low query efficiency and high storage redundancy of traditional blockchain technology, a lightweight DAG-based blockchain (LDAGB) architecture is proposed. The block of the LDAGB architecture is called a unit, which stores a transaction, the wallet addresses of the sender and receiver of the transaction, and two parent unit hashes. When a new unit is generated, one parent unit hash value in the unit points to the current latest unit of the transaction sender (wallet address), and the other parent unit hash value points to the current latest unit of the transaction receiver (wallet address). Based on the concept of light wallets, each lightweight node stores only its own units, avoiding huge storage costs caused by data growth. In addition, a lightweight PoW consensus mechanism is used to reduce the computing cost of unit packaging, and a voting mechanism is used to avoid the possible fork of LDAGB. The experimental results show that LDAGB can significantly improve the efficiency of transaction query and verification and reduce the storage cost, compared with the traditional blockchain architecture.