SBIR Phase I: Blockchain architecture for improved, cost-effective, secure transactions

The broader impact/commercial potential of this Small Business Innovation Research (SBIR) project is to facilitate secure transactions. The proposed project allows business transactions without the fear of cybercrime. The expected cost reductions will enable a company to safely engage with individuals and families who cannot afford commonly available cybersecurity solutions. The proposed blockchain process will improve security and resilience of critical infrastructure including energy, transportation, finance, telecommunications, and manufacturing, as well as enabling true smart cities and installations of the future. This SBIR Phase I project proposes a multi-segment and multipath design for substantial transactional improvement and reduction in required computing resources. Computing resources required in blockchain usage primarily involve the searching of the complete blockchain for the appropriate record. The proposed solution eliminates the required search of the complete blockchain by segmenting the blockchain to search smaller segments. This project will research, develop and implement a method for improving the current state of knowledge with resulting performance improvement of blockchain transactions without compromising the fidelity of the transaction, thereby eliminating the need for a blockchain Proof of Work Consensus Model. The project will research several blockchains as well as the consensus and non-consensus models for final implementation. Validation includes a baseline transaction measurement for each of the chosen blockchains identified before any modifications. This award reflects NSF's statutory mission and has been deemed worthy of support through evaluation using the Foundation's intellectual merit and broader impacts review criteria.