  Blockchain has received tremendous attention in non-monetary applications
including the Internet of Things (IoT) due to its salient features including
decentralization, security, auditability, and anonymity. Most conventional
blockchains rely on computationally expensive consensus algorithms, have
limited throughput, and high transaction delays. In this paper, we propose
tree-chain a scalable fast blockchain instantiation that introduces two levels
of randomization among the validators: i) transaction level where the validator
of each transaction is selected randomly based on the most significant
characters of the hash function output (known as consensus code), and ii)
blockchain level where validator is randomly allocated to a particular
consensus code based on the hash of their public key. Tree-chain introduces
parallel chain branches where each validator commits the corresponding
transactions in a unique ledger. Implementation results show that tree-chain is
runnable on low resource devices and incurs low processing overhead, achieving
near real-time transaction settlement.
