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Document Type

Article

Keywords

Blockchain, Directed Acyclic Graph, Consensus Mechanism, Scalability, Mempools, Cryptocurrency

Abstract

Blockchain has revolutionized cryptocurrency and completely changed the management of data and transactions in the digital world because of its decentralized nature, improved transparency, increased security measures, ability to facilitate commercial trading between untrusted parties, and contribution to preventing fraudulent activity. However, the primary issue with blockchain systems is their limited scalability, as they can only process a maximum of 30 transactions per second (TPS), like Ethereum and Bitcoin. In this paper, we introduce an approach using the Nakamoto protocol and the Directed Acyclic Graph (DAG) to develop an improved infrastructure known as a DAGchains that can increase the processing ceiling of the TPS and enable peers to reach Proof of Work (PoW) consensus on a wide scale. Furthermore, a novel allocation for transactions has been presented in miners' mempools on the basis of the Balanced Assignment of Mempool Transactions Protocol (BAMTP), which guarantees the absence of collisions and duplicate transactions, overcomes delays in completing microtransactions, and ensures an efficient distribution of reward fees among all miners. Experimental tests have proven the proposed system's effectiveness in increasing scalability by 24000 TPS compared with the conventional approach without sacrificing the security and decentralization inherent in existing blockchain systems.

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