In our approach, called the Smart Blockchain, there are one or more BPSC smart contracts for producing blocks into a decentralized network, and no successful transaction is performed without its involvement. For a successful transaction in the network, first, the sender must send the cryptocurrency to the wallet of BPSC and then BPSC sends cryptocurrency automatically to the receiver. This simple action has led the BPSC to have all network transactions’ data accurately and flawlessly and then as an accurate and trust financial institution, record transactions’ data into a new block and add a new block to the end of the Blockchain.
In Blockchain Networks, no financial institution is responsible for the ledger and transaction’s data, meanwhile, people and miners do not trust or even know each other. For this reason, in order to prevent fraud and double spending, … miners have to add new blocks to Blockchain competitively and collaboratively and unfortunately by spending enormous electricity consumption so that no complaint can be made. But in Smart Blockchain, BPSC’s data is flawless, since it is recorded during a transaction without human interference, and no longer there is no need to involve miners and block producers. There’s certainly no task for miners and block producers.
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