Components of the Bounce Protocol
The Bounce protocol operates on a unique framework where individual Sending Stations can transmit multiple Merkle Tree roots to the designated satellite for a specific time slot. This satellite then signs off on a sequence of these roots, which are subsequently sent to Broadcast Ground Stations, enabling widespread dissemination of the roots and their corresponding Merkle Trees.
Blockchain Technology’s Evolution
Although blockchain technology was conceptualized around 35 years ago, it only gained widespread attention in 2009 with the launch of Bitcoin, which showcased its practical applications as a “digital ledger.” While numerous sectors, including payments, digital contracts, and supply chains, have integrated blockchain, the technology still grapples with limitations such as low transaction rates and high energy and transaction costs.
Introducing the Bounce Protocol
Researchers from New York University have proposed a novel blockchain design known as Bounce, which leverages satellite technology to sequence transaction blocks. In this innovative protocol, various block encodings are sent to the satellite designated for a specific time slot, which then organizes these blocks and returns them, or “bounces” them back.
Advantages of Satellite Technology
Dennis Shasha, a computer science professor at NYU’s Courant Institute of Mathematical Sciences and the lead researcher on this study, highlights the security benefits of using satellites. Their inherent difficulty in access makes them resistant to side-channel attacks, and their processing capabilities can be designed to be tamper-proof. The simplicity of the Bounce protocol allows it to be stored in read-only memory, effectively safeguarding it against software-injection threats.
Potential and Performance of Bounce
Despite possible challenges in real-world application, Shasha notes that Bounce lays a strong groundwork for future explorations into developing blockchain systems that are both high-performing and energy-efficient. The Bounce protocol boasts an impressive processing capability of over 5 million transactions every two seconds, with confirmation times ranging between three to ten seconds. This results in a throughput that is 30 to 100 times higher than that of Solana, a recognized fast blockchain system.
Comparative Energy Efficiency
In terms of energy consumption, Bounce operates at less than one-tenth of a joule per transaction. In stark contrast, Solana consumes more than 1,000 joules per transaction, while Bitcoin’s energy expenditure exceeds one million joules for every transaction it processes.
Fork Avoidance in the Bounce System
The Bounce blockchain framework includes a set of satellites that divide time slots, which are essential units of time in blockchain operations. By having a satellite manage the ordering of blocks during its assigned time slot, the Bounce system effectively eliminates the possibility of “forks.” Forks occur when a blockchain divides into multiple chains, potentially allowing for fraudulent activities like double-spending.
Validation of the Bounce Model
The research team validated the effectiveness of their model through experiments conducted on CloudLab, a platform supported by the National Science Foundation’s Cloud Access program. This facility allows researchers to create custom cloud environments to explore and test advanced computing platforms. Furthermore, the communication times for Earth-to-satellite interactions were simulated using the International Space Station for accuracy.
