Many classical blockchains are known to have an embarrassingly low transaction throughput, down to Bitcoin's notorious seven transactions per second limit.Various proposals and implementations for increasing throughput emerged in the first decade of blockchain research. But how much concurrency is possible? In their early days, blockchains were mostly used for simple transfers from user to user. More recently, however, decentralized finance (DeFi) and NFT marketplaces have completely changed what is happening on blockchains. Both are built using smart contracts and have gained significant popularity. Transactions on DeFi and NFT marketplaces often interact with the same smart contracts. We believe this development has transformed blockchain usage. In our work, we perform a historical analysis of Ethereum's transaction graph. We study how much interaction between transactions there was historically and how much there is now. We find that the rise of DeFi and NFT marketplaces has led to an increase in "centralization" in the transaction graph. More transactions are now interconnected: currently there are around 200 transactions per block with 4000 interdependencies between them. We further find that the parallelizability of Ethereum's current interconnected transaction workload is limited. A speedup exceeding a factor of five is currently unrealistic.
翻译:许多典型的链条已知其交易量低得令人尴尬,直到Bitcoin的臭名昭著的七次交易每秒限额。在头十年的链链研究中,出现了增加吞吐量的各种提议和实施。 各种增加吞吐量的建议和实施在头十年中出现了。 但是,有多少种货币是可能的? 在早期, 块链大多用于简单的从用户向用户的转移。 然而, 最近, 分散化的金融( DeFi) 和 NFT 市场彻底改变了块块上正在发生的情况。 两者都是利用智能合同建立起来的, 并获得了显著的受欢迎程度。 在DeFi和NFT 市场的交易经常与同样的智能合同相互作用。 我们认为, 这种发展改变了块链的使用。 在我们的工作中,我们对Etheurum的交易图进行了历史分析,我们研究了这些交易之间的相互作用有多少,现在有多少。 我们发现, 分散化的金融(DeFium)和NFTFT市场在交易图中导致“集中化”的增加。 现在更多的交易是相互关联的:目前每块大约有200个交易,它们之间有4000个相互联系。我们进一步发现Eceimum的不切不切不切入速度。</s>