GHOST protocol used in Ethereum compared with protocols used in bitcoin

Qinan Sun

doi:10.1117/12.2675424

25 May 2023 GHOST protocol used in Ethereum compared with protocols used in bitcoin

Qinan Sun

Proceedings Volume 12636, Third International Conference on Machine Learning and Computer Application (ICMLCA 2022); 1263658 (2023) https://doi.org/10.1117/12.2675424
Event: Third International Conference on Machine Learning and Computer Application (ICMLCA 2022), 2022, Shenyang, China

Abstract

Bitcoin's volatile price in recent years hasn't stopped it from attracting new users. As of July 2022, more than 83 million people around the world had registered their Bitcoin wallets with the Bitcoin system. That's about 9 million more users than in 2022; and about 43 million more than in 2019. The explosive growth of the number of users and transaction volume has brought about the problems of slow transactions and huge resource consumption. To address these issues, the younger Ethereum system offers a new set of mechanisms to provide solutions. such as Greedy Heaviest-Observed Sub-Tree (GHOST) protocol. However, since Ethereum has a higher throughput compared to Bitcoin, the longest rule is no longer suitable for the Ethereum system. As a result, one need a new smart protocol like GHOST.GHOST can be used to address some critical problems in the longest rule used in Bitcoin. This paper will mainly introduce the basic definition of GHOST, its advantages compared to the protocol used in Bitcoin, its disadvantages of GHOST, and the security analysis of GHOST.

Citation Download Citation

Qinan Sun "GHOST protocol used in Ethereum compared with protocols used in bitcoin", Proc. SPIE 12636, Third International Conference on Machine Learning and Computer Application (ICMLCA 2022), 1263658 (25 May 2023); https://doi.org/10.1117/12.2675424

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