Decentralized Netting Protocol over Consortium Blockchain

In recent years, Bitcoin, Ethereum and other cryptocurrencies have attracted a great deal of attention from the whole industry including the financial as a new settlement system. Transaction information of these cryptocurrencies is stored in a distribution ledger called Blockchain on the P2P network through processing such as PoW. Meanwhile, since PoW requires a large amount of computer resources, researches on private / consortium type blockchain that do not need PoW. In this paper, we propose a decentralized netting protocol using a consortium type block chain that has the channel function. On a system that implements the proposed protocol, netting settlement can be performed on P2P hiding information of the sender and receiver name of transaction, amount of money, calculation butt of netting, and without setting up a specific central organization such as a central server.