Mercury: Fast Transaction Broadcast in High Performance Blockchain Systems

Blockchain systems must be secure and offer high performance. These systems rely on transaction broadcast mechanisms to provide both of these features. Unfortunately, in today's systems, the broadcast mechanisms are highly inefficient.

We present MERCURY, a new transaction broadcast protocol designed for high performance blockchains. MERCURY shortens the transaction propagation delay using two techniques: a virtual coordinate system and an early outburst strategy. Simulation results show that MERCURY outperforms prior propagation schemes and decreases overall propagation latency by up to 44%. When implemented in Conflux, an open-source high-throughput blockchain system, MERCURY reduces transaction propagation latency by over 50% with less than 5% bandwidth overhead.