Optimizing Blockchain using Embedded Checkpoints

Blockchain, the distributed network based digital record is a hot topic of research today. It has immense applications and finds its use in almost all fields. However, the technology is still under development and faces many challenges. In this paper, we explored basic challenges that restrict the scalability of ordinary blockchain systems and proposed a novel technique to tackle the issue of growing storage costs by reducing the chain length using checkpointing. We also proved that the resulting storage cost is better than the original blockchain. To the best of our knowledge, ours is the first solution for reducing the chain length of blockchain using checkpoints. We also made sure that the proposed method can easily be incorporated into already existing blockchain systems.