A Low Storage Room Requirement Framework for Distributed Ledger in Blockchain

Traditional centralized commerce on the Internet relies on trusted third parties to process electronic payments. It suffers from the weakness of the trust-based model. A pure decentralized mechanism called blockchain tackles the above problem and has become a hot research area. However, since each node in a blockchain system needs to store all transactions of the other nodes, as time continues, the storage room required to store the entire blockchain will be huge. Therefore, the current storage mechanism needs to be revised to cater to the rapidly increasing need for storage. Network coded (NC) distributed storage (DS) can significantly reduce the required storage room. This paper proposes a NC-DS framework to store the blockchain and proposes corresponding solutions to apply the NC-DS to the blockchain systems. Analysis shows that the proposed scheme achieves significant improvement in saving storage room.