An Innovative IPFS-Based Storage Model for Blockchain

Blockchain technology has received great attention in recent years. However, the data volume of blockchain grows continuously due to the features that cannot be deleted and can only be added. Currently, the total size of Bitcoin blockchain ledger has reached 200GB. Its high demand for storage space and bandwidth to synchronize data with the network prevents many nodes from joining the network.This is not only not conducive to the expansion of this decentralized network, but also becomes the bottleneck of the development of blockchain technology. This paper proposes an IPFS-based blockchain data storage model to solve this problem.In this paper, the miners deposit the transaction data into the IPFS network and pack the returned IPFS hash of transaction into the block. Utilizing the characteristics of the IPFS network and the features of the IPFS hash, the blockchain data is greatly reduced. The scheme is applied to the Bitcoin blockchain. According to the experimental results, the compression ratio can reach 0.0817. According to the analysis, it also has good performance in terms of security and synchronization speed of new node.