A blockchain architecture operating over a skip graph-based P2P overlay to improve a communication and storage efficiency, a convergence to centralization, and consistency problems of existing blockchain solutions is provided. The blockchain architecture provides addressable peers, blocks, and transactions within a network; making the addressable peers, the blocks and transactions efficiently accessible in an on-demand manner by peers using a skip graph lookup operation where no peer is required to store an entire blockchain, and stores a replicated subset of the blocks and transactions and answers queries of other peer on the blocks and transactions. The blockchain architecture discloses a fair blockchain with a uniform chance for participating peers to be involved in a consensus protocol regardless of an influence of the participating peers in a system with an improved consistency governing a deterministic fork-resolving policy.