System and method for a weighted slotted synchronous blockchain client network

Abstract

The present disclosure provides weight based slotted synchronous blockchain client network. Conventional blockchain consensus protocols heavily rely on synchrony assumptions of the underlying network. However, little attention has so far been given to similar assumptions on blockchain client networks. Such assumptions would be useful in deriving bounds on confirmation times of transactions through the blockchain protocol. To overcome the challenges of the conventional approaches, the present disclosure provides a weight based slotted synchronous blockchain client network. The blockchain client network of the present disclosure is slotted, wherein at most one transaction is submitted in each slot by one of the client nodes. Further, there exists a notion of synchrony in the peering between the client nodes and the blockchain nodes. In an embodiment, for each submitted transaction, there is an upper-bound on the number of slots on the reception of the said transaction at an arbitrary blockchain node.