Abstract
With the arrival of the 5G era, the Internet of Things (IoT) has entered a new stage, and the amount of IoT data is growing rapidly. The traditional blockchain cannot handle massive amounts of data, which presents scalability challenges for blockchain technology. Existing blockchain improvement technologies such as off-chain payments, protocol improvements, and sharding techniques have performance bottlenecks and limitations in the data, which is rapidly growing. The blockchain is fundamentally a decentralized distributed ledger, and the traditional chain structure is inadequate for addressing concerns such as forks, double-spending attacks, and other factors in the current IoT landscape. In this paper, we propose a high-throughput distributed ledger based on Directed Acyclic Graph (DAG) named TEEDAG. We design a consensus algorithm based on self-referencing parallel chains combined with Trusted Execution Environment (TEE) to ensure the security of the consensus process. The experiment proves that TEEDAG demonstrates a significantly higher throughput compared to traditional blockchain solutions and offers improved security and efficiency compared to existing DAG-based distributed ledger solutions.