A Design and Development of Layer 2 Blockchain-Based Central Bank Digital Currency System 


Vol. 49,  No. 12, pp. 1752-1764, Dec.  2024
10.7840/kics.2024.49.12.1752


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  Abstract

Central Bank Digital Currency (CBDC) is a digital form of fiat currency issued by the central bank, and is currently conducting experiments to increase technical completeness with interest in many countries. Blockchain technology is being considered to implement the CBDC system, but it is difficult to handle the high throughput required by CBDC simply by applying the existing blockchain technology. To solve this problem, a method of using a private chain such as hyperletzer fabric has been proposed, but the deterioration of performance due to the increase in the number of nodes and the tendency to centralize in the process of agreement have been pointed out as problems. In this study, to solve this problem, a CBDC system using Rollup among various layer 2 technologies was designed. Rollup can provide high throughput and scalability by processing transactions off-chain and periodically committing the results to the main chain. The proposed system is designed to meet the requirements of CBDC by operating multiple rollups in parallel. Through experiments, it was verified that the proposed system achieves significantly improved scalability compared to a single blockchain.

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[IEEE Style]

J. Hwang and Y. Kim, "A Design and Development of Layer 2 Blockchain-Based Central Bank Digital Currency System," The Journal of Korean Institute of Communications and Information Sciences, vol. 49, no. 12, pp. 1752-1764, 2024. DOI: 10.7840/kics.2024.49.12.1752.

[ACM Style]

JaeSeung Hwang and YoungHan Kim. 2024. A Design and Development of Layer 2 Blockchain-Based Central Bank Digital Currency System. The Journal of Korean Institute of Communications and Information Sciences, 49, 12, (2024), 1752-1764. DOI: 10.7840/kics.2024.49.12.1752.

[KICS Style]

JaeSeung Hwang and YoungHan Kim, "A Design and Development of Layer 2 Blockchain-Based Central Bank Digital Currency System," The Journal of Korean Institute of Communications and Information Sciences, vol. 49, no. 12, pp. 1752-1764, 12. 2024. (https://doi.org/10.7840/kics.2024.49.12.1752)
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