Researchers from Shanghai Jiao Tong University have developed Dynamic-EC, a new blockchain storage method that significantly reduces storage overhead—by up to 42%—and increases data processing speeds by 25%.
Unlocking Blockchain’s Potential
Blockchain technology promises secure and transparent data storage for finance, healthcare, and logistics industries. However, high storage costs and slow processing speeds have limited its adoption. Dynamic-EC addresses these barriers, making blockchain systems more affordable, efficient, and scalable. This is especially important as the global blockchain market continues to expand into the billions of dollars.
Dynamic vs. Static Encoding
Current blockchain storage methods such as BFT-Store and Partition Chain reduce storage costs compared to traditional full replication methods but rely on static encoding schemes. These static methods always assume the worst-case scenario, using unnecessary extra storage. Dynamic-EC, however, uses a unique approach: it dynamically adjusts the redundancy levels based on real-time network risk. By monitoring node reliability through an innovative reputation system, it allocates storage resources only when necessary.
Clear Advantages Over Existing Methods
Dynamic-EC outperforms current blockchain storage methods. Compared to BFT-Store and Partition Chain, Dynamic-EC reduced blockchain storage overhead by up to 42%. Additionally, data writing latency—the time needed to process and store new information—was reduced by up to 25%, resulting in faster blockchain performance. Moreover, Dynamic-EC actively identifies and deters malicious nodes, enhancing overall network security and reliability.
Smart Adaptation to Real-Time Risks
Dynamic-EC integrates an advanced node reputation evaluation system, classifying nodes into trustworthy, risky, or malicious categories based on past actions. It actively adapts data redundancy based on actual threats observed in the network. This real-time adaptability conserves storage resources and optimizes performance.
“Dynamic-EC is an important step forward because it demonstrates that blockchain systems can be both highly secure and highly efficient,” said Professor Minyi Guo, lead researcher from Shanghai Jiao Tong University. “By dynamically adapting storage redundancy according to real-time risks, we’ve created a smarter blockchain that minimizes waste and maximizes performance—critical factors for blockchain’s widespread adoption.”
With substantial improvements over static encoding methods, Dynamic-EC represents an essential advancement in blockchain technology. This innovation moves blockchain closer to mainstream adoption by significantly improving its affordability, security, and operational efficiency. The complete study is accessible via DOI: 10.1007/s11704-023-3209-3.
DOI: 10.1007/s11704-023-3209-3