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System Design Question

Design a Blockchain-Based System

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Functional Requirements

  1. Decentralization:
    • The system should operate on a decentralized network, ensuring no single point of control.
  2. Data Integrity:
    • Ensure that once data is recorded in the blockchain, it cannot be altered retroactively.
  3. Consensus Mechanism:
    • Implement a consensus algorithm (e.g., Proof of Work, Proof of Stake) to validate transactions and add new blocks.
  4. Transaction Processing:
    • Allow users to initiate, validate, and confirm transactions.
  5. Smart Contracts:
    • Support the creation and execution of smart contracts for automated and self-executing agreements.
  6. Node Communication:
    • Enable nodes to communicate and synchronize with each other to maintain a consistent state across the network.
  7. Security:
    • Implement cryptographic techniques to secure transactions and user data.
  8. Scalability:
    • Design the system to handle an increasing number of transactions and nodes efficiently.
  9. User Authentication:
    • Provide mechanisms for user identity verification and access control.
  10. Data Storage:
    • Efficiently store blockchain data, including transaction history and smart contract states.

Non-Functional Requirements

  1. Performance:
    • Ensure low latency in transaction processing and block validation.
  2. Reliability:
    • The system should be resilient to node failures and network partitions.
  3. Scalability:
    • Support a growing number of users and transactions without significant performance degradation.
  4. Security:
    • Protect against common blockchain attacks such as 51% attacks, double-spending, and Sybil attacks.
  5. Interoperability:
    • Allow integration with other blockchain networks and legacy systems.
  6. Availability:
    • Ensure high availability and uptime, even in the presence of network disruptions.
  7. Data Consistency:
    • Maintain data consistency across all nodes in the network.
  8. Extensibility:
    • Design the system to accommodate future enhancements and new features.
  9. Energy Efficiency:
    • Optimize the system to minimize energy consumption, especially if using energy-intensive consensus mechanisms.
  10. Privacy:
    • Implement privacy-preserving techniques to protect user data and transaction details.

System Design Diagrams

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