Block Redesign
U.S.P(United States Patent) Application Number: 62717703
Last updated
U.S.P(United States Patent) Application Number: 62717703
Last updated
MEVerse newly designed and upgraded the block structure, which is the core of the blockchain technology. Blocks that were 560 bytes in one transaction have been reduced to under 360 bytes, leading to faster transaction speeds. This is the most fundamental approach to enhance the transaction speed regardless of changes in protocol or design such as to the consensus algorithm and sharding model.
The block structure is the basis of blockchain technology, directly leading to the processing speed and storage volume. MEVerse redesigned the block structure to reduce block size, increase processing speed and decrease index volume needed for operation. Blocks consist of a block header and a transaction list, the latter taking up most of the volume. Thus, reducing each transaction size concurrently leads to reduced block size, volume, network traffic and block processing time.
Vin and signature take up the biggest volume of transactions. In Bitcoin, vin is indicated with transaction hash and the used TxID and N. Additionally, many possessors can put coins in the vin of one transaction, meaning that the number of signatures required is equivalent to the number of vin. 32 Bytes of TxID, 4 Bytes of N and 65 Bytes of signature results in a total of 101 Bytes per coins.
In MEVerse, TxID is indicated with block height and transaction location within the block, reducing the TxID to 6 Bytes and N to 2 Bytes. Moreover, only coins of one possessor can be used in one transaction to reduce the required number of signatures. Statistics show that the average transaction size of Bitcoin is 560 Bytes, including approximately 3 vin and 3 vouts. By changing it to MEVerse’s new block structure the size reduces by 43%, resulting in 320 Bytes
Making use of the block height and transaction location within blocks give various advantages in operation as well. The existing verification method utilizes transaction hash, thereby requiring index DB to find the original transaction. Thus, in Bitcoin, 50 GB index is required to process 100 GB data. However, in MEVerse, a large index is unnecessary as the TxID indicates the coordinates of the hash transaction and addition index DB is not used in the process.
The MEVerse chain takes less time to create and verify blocks with its Block Redesign technology, enabling an efficient mining environment and providing a high level of performance that blockchain technology can use in real life.
