An Ultra-Scalable Blockchain Platform for Universal Asset Tokenization: Design and Implementation

Buldas, Ahto and Draheim, Dirk and Gault, Mike and Laanoja, Risto and Nagumo, Takehiko and Saarepera, Mart and Shah, Syed Attique and Simm, Joosep and Steiner, Jamie and Tammet, Tanel and Truu, Ahto (2022) An Ultra-Scalable Blockchain Platform for Universal Asset Tokenization: Design and Implementation. IEEE Access, 10. pp. 77284-77322. ISSN 2169-3536

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Abstract

In this paper, we explain the Alphabill family of technologies that addresses both unlimited scalability and unrestricted adaptivity. We deliver a sharded blockchain technology with unlimited scalability, called KSI Cash, which is based on a new form of electronic money scheme, the bill scheme. We present performance tests of KSI Cash that we have conducted with the European Central Bank in order to assess the feasibility of a digital euro. We show the system operating with 100 million wallets and 15,000 transactions per second (under simulation of realistic usage); having an estimated carbon footprint of 0.0001g CO2 per transaction. Furthermore, we show the system operating with up to 2 million payment orders per second, an equivalent of more than 300,000 transactions per second (in a laboratory setting with the central components of KSI Cash), scaling linearly in the number of shards. We explain, in detail, the key concepts that unlock this performance (i.e., the concepts of the bill money scheme). The results provide evidence that the scalability of our technology is unlimited in both permissioned and permissionless scenarios, resulting into the Alphabill Money technology. Next, we contribute the architecture of a universal tokenization platform that allows for universal asset tokenization, transfer and exchange as a global medium of exchange, called Alphabill platform. We reveal the crucial conceptual and technical contributions of the platform’s architecture, including the data structures of KSI Cash and Alphabill Money, the dust collection solution of Alphabill Money, and the atomic swap solution of the Alphabill platform.

Item Type:	Article
Identification Number:	10.1109/ACCESS.2022.3192837
Dates:	Date Event 15 July 2022 Accepted 21 July 2022 Published
Uncontrolled Keywords:	Blockchain, Bitcoin, digital euro, decentralized finance, DeFi, Web3, Alphabill
Subjects:	CAH00 - multidisciplinary > CAH00-00 - multidisciplinary > CAH00-00-00 - multidisciplinary CAH11 - computing > CAH11-01 - computing > CAH11-01-01 - computer science CAH11 - computing > CAH11-01 - computing > CAH11-01-02 - information technology CAH11 - computing > CAH11-01 - computing > CAH11-01-03 - information systems CAH11 - computing > CAH11-01 - computing > CAH11-01-07 - business computing
Divisions:	Faculty of Computing, Engineering and the Built Environment > College of Computing
Depositing User:	Syed Shah
Date Deposited:	26 Sep 2022 10:58
Last Modified:	22 Mar 2023 12:00
URI:	https://www.open-access.bcu.ac.uk/id/eprint/13603

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