Optimized Blockchain Processing
Smart contracts, which power many blockchain applications, often run slowly and inefficiently due to how they are processed on current systems. Tulane researchers are creating a new approach that aims to solve a significant challenge by a heterogeneous processor smart contract unit (scu) that uses a hardware-based accelerator instead of the current ethereum virtual machine (evm) design.
The Problem
Smart contracts, which power many blockchain applications, often run slowly and inefficiently due to how they are processed on current systems. These delays can cause problems in industries that rely on fast, secure transactions. As blockchain use grows, there is a need for faster and more flexible ways to process smart contracts that can keep up with demand and reduce delays and errors.
The Solution
Tulane researchers are creating a new approach that aims to solve a significant challenge by a heterogeneous processor Smart Contract Unit (SCU) that uses a hardware-based accelerator instead of the current Ethereum Virtual Machine (EVM) design. Their SCU leverages instruction- and transaction-level parallelism during intelligent contract processing, boosting its execution performance. Also, the SCU can be configured and adapted to different workloads to remove bottlenecks.The technology is at the laboratory testing stage of development, with a prototype design and data showing improved performance to existing technologies.
The Opportunity
This technology could be used in the blockchain and decentralized applications (dApps) industry, particularly by blockchain infrastructure providers and companies developing next-generation high-performance blockchain platforms. It would appeal to industries where smart contract speed and scalability are critical, such as financial services (DeFi), gaming (GameFi), supply chain management, and enterprise blockchain solutions. Additionally, hardware manufacturers and cloud service providers looking to offer optimized blockchain computing could integrate this hardware-based Smart Contract Unit into their offerings to improve transaction throughput and reduce latency.
