Enhancing Blockchain Performance and Security: Pushing the Limits of Decentralized Applications

Abstract

Decentralized Applications (DApps) have seen exponential growth in the past decade leading to a new paradigm known as Web3. Web3 is the ecosystem formed by the execution of multiple DApps. Blockchains offer a platform for DApp executions. However, the performance and security of current blockchains is limited and impair the adoption of Web3. More specifically, for demanding DApp workloads, modern blockchains perform poorly or lose transactions. This thesis presents various contributions to enhance blockchain performance and security to widen the adoption of Web3. To enhance blockchain performance for DApp executions, we first present the Smart Redbelly Blockchain (SRBB). SRBB enhances DApp performance by reducing blockchain congestion. SRBB alone is not sufficient to service multiple demanding DApp workloads. Therefore, we introduce a DApp-oriented dynamic transparent sharding mechanism that concurrently execute DApps in separate shards. To boost the DApp performance of SRBB, we present a decoupled variant of SRBB known as Collachain. While blockchain performance is critical, existing blockchain designs are vulnerable to the formation of an oligarchy in the governance that can dictate the outcome of the protocol. Such an oligarchy can lead to the insecure execution of DApps, impairing the adoption of Web3. To mitigate the formation of an oligarchy in blockchain governance, we finally present a proportional governance protocol that proportionally elects a diverse set of governors to mitigate an oligarchy in the governance process.