On the Performance of Using Parallel State Machine Replication to Implement Blockchains

State Machine Replication (SMR) and blockchains share the same goal of keeping a consistent state replicated across a set of replicas. However, there are some subtle differences between these techniques. In particular, using a SMR framework as a building block to implement blockchains significantly impacts performance due to the sequential execution model of traditional SMRs, i.e., all transaction...