EFFICIENT AND SECURE BLOCKCHAINS USING CLOUD RESOURCE PRIMITIVES

Systems and methods are disclosed for efficient creation of blocks on a blockchain by utilization of trusted cloud primitives. As opposed to inefficient mechanisms like proof-of-work or application-limited mechanisms like proof-of-stake, embodiments of the present disclosure implement a consensus algorithm by execution of verifiably immutable code on one or more hosted computing environments that are mutually trusted by participants to the blockchain. The code can be designated within a block of the blockchain, such that participants mutually trust the code, when executed, to properly implement the agreed-upon consensus algorithm. The consensus algorithm can operate to select transactions for inclusion in each block, and notify participants of the selection, removing a need for participants to trust one another with respect to block creation.